Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-11-09
Mine
CONTROL
SECURED
Local Capitalists Perfect Re-
organization With Ballen-
tyne as Managing Director;
Big Salt Lake Men on Board;
More Claims Acquired
A. oNTANA-BINGHAM is now in
III full control of Hawaii capital and
u title has been acquired to all sub |

ONIANA-blNGT1A 10 hOS II
IIN full control of Hawaii capital and
y ! title has been acquired to all sub
sidiary mines in the big Utah mining
property, states cablegram which
has been received here from c. u.
Ballentyne.
Mr.. Ballentyne has been elected
president of the reorganized company,
which is believed here to mean that
he will give up his superintendency Of
the Honolulu Rapid Transit Co. and
take the active management OF the
Utah mining project.
The reorganization of the company
has been effected along lines which
Mr. Ballentyne suggested, after he had
made an exhaustive study of the prop
erty at the request of hui of local
capitalists who were heavy investors
in Montana-Bingham. Among those
most interested in the property were
John Watt, Robert Single and c. G.
Bockus, all of when investigated the
recommendation for the develop.
ment of the property made by Mr.. Bal
lentyne.
A Russian engineer by the name of
4
genheim interests for years, is to act
as mines superintendent of the Mon
na-Bingham property, it is asserted.
Locally it is stated that securing the
services of Mr.. Ballentyne to act as
manager of the big mining property
was consummated by giving him a big
stock bonus and large salary and
long time contract. As managing di-
rector of the reorganized mining COM
pany his position will be similar to
the one held by D. C. Jackling with
the Utah Copper Co.
His brother, Thomas Ballentyne,
may succeed him as manager of the
Honolulu Street Car Company, as he
has held the acting management since
Mr. Ballentyne's absence on the coast.
Mr.. Ballentyne was the organizer of
the Rapid Transit Co. and its first and
only manager since 1899. IT,.
By the reorganization the interests
or cooperation of a group Of Utab
capitalists was secured, who were the
promoters of the property. For inter
ests held in adjacent mines, but in
cluded in the Montana-Bingham prop
erty, these Utah capitalists have been
given stock in the new organization
and representation in the directorate.
The message from Mr.. Ballentyne is
self-explanatory to those familiar with
the Montana-Bingham property and
the plans for the reorganization. 1t
follows:
Reorganization completed. BalIen-
tyne president, Eccles vice-president,
Pingree treasurer, Vail secretary,
Hubbard and Jorgense- directors
Interest OF Higgins, Eccles and
Bamberger in Fortuna purchased. Pro-
vision made for retirement of bonds
and acquiring full title to Tiewakee
Valentine Thrush. -. .@<
"All debts paid, all stock sold. Funds
provided to complete mill and push
development. Will return Honolulu
Ventura" ..... .."
EccEes Family Interested
l.. r. Eccles, who has been elected
vice-president of the new COMPANY is
member of the millionaire Ogden,
Utah, family of that name. The fam
ilv is extensively interested in lumber,
mining and beet sugar factories.
w. G. Hubbard is the former man
ager and principal owner of the Mon.
tsna-Bingham.
Simon Bamberger, whose investment
in Fortuna, one of the most valuable
mines Of the group, was purchased, is
governor of Utah and owner of the
Bamberger electric line from Salt Lake
City to Ogden
L. P. Pingree, treasurer of the com.
pany, is banker of Salt Lake City.
j. Z. Higgins, who was one of the
owners OF Fortuna, was former engi.
neer of that mine. a..%. - i
Secretary Vail is the representative
OF the Bamberger interests in the new
organization. He has been connected
with Governor Bamberge- for the past
25 years as an engineer, and business
secretary and manager.