The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1917-06-01
OPTION TAKEN UP
AND STOCK SCARS
Montana Bingham, Which Sold
Down TO Eighteen, Jumps
Back TO Twice That

lions Of the past few days has been the
ups and downs Of Montana Bingham.
Early in the week concerted drive
was made against this stock, with the
result that II sold down on Tuesday 10
az low Us nineteen cents Yesterday,
following some strong bull tips, Il re
covered rapidly, selling at thirty-hve,
with some few shares bringing, thirty
six.
rhe bear movement was based ON
confidential information that the
management Of Montana Bingham had
decided not TO exercise it's option for
the control Of the Fortuna property, ad.
joining, for the development Of which
under the option the Monthna Bingham
people have been driving long tunnelt
The reports in circulntioh were that the
mann cement Of Fortuna was not suits.
factory and that the option would be
forfeited.
Option Taken Up
Yesterday, cabIed advices We're re.
ceiyed by Jorgen Jorgensen, the con
shifting engineer Of the company, from
w. h. Hubbard, president Of Montana
bingham, stating that the option had
been taken up and q payment Of $780,,
600 made on the purchase price. The
option calls for the payment Of 100000
for the control Of the property, and
nnuneial arrangements have been made
for the taking up Of the future monthly
payments as they mature.
Yesterday = cable to Mr.. Jorgensen
also announced that the upraise, being
driven TO tap the ore body Of the Con
gor mine had been completed The Con
gor Is an adjoining property which has
arranged a working agreement with the
Montana Bingham, the Congor mine TO
be worked by means Of the latter =
main tunnel and transportation system.
Fortuna Producer
h,-;nr ~ ,soa,hs s,nee 1,,lv Ia,
smelter returns from shipments from
the Fortuna have been $4,000, from
ore taken from the upper workings. The
plans Of the Montana Bingham are to
extend the latter 3 main tunnel to tap
the Fortuna ore body at a depth of 200
feet. which viii give a great amount Of
stopinp ground and permit the mine 20
be WORKED, much more Economically.
The salt Lake Tribune Of Nav is
cnrries the FOLLOWING on the deyelop.
ment work nndor vav NJ the Montana
R;nobam ana tbe future nrosnoets az
that n+onerty The sTr;bune savs.
1..i.. -, 80 80 4
1870 .vRel'y 4 3
One Of the most active properties
Of the Bingham district y that Of the
Montana bingham Consolidated Min
ing company, which has been operated
for ten years The company has recent
~ bought the Tiawaukee groups Of
claims which has produced nearly $2t
100000 and the Valentine patent which,
~ IS stated takes n. the mineral y ghtss
under the town OF bingham. Both Of
these properties are known TO hold vast
reserves Oh ore IN lead, copper and sil-
yer values, wnich can be handled az n
pig proht az the present market prices
WIN Reach the Depths
s.Through a great Drainage and
Transportation tunnel the Montana
Bingham holds the kew TO deem minino
IN six important properties IN the camp
The tunnel is now IN nearly 5000 feet
its portals being on the most adyan,
tageous sites IN The Bingham district,
SITUATED wilnln rev rect OF the rail-
Iynu any mas aDove y Win easy access
me power OF the utah POWER and light
ooln Pany l1 Ms 1a hIhlioh, Dult ny
seos. ~ YSvy'VtVV, Wnlcn AZ WITHIN a
Isw nnnareu leet q me tunnel mouth
~, ~ w pl1slsss q tne TUNER, sey-
sasi islss uleIpeatlng VEINS nave Deen
eSs i uss.. tne lazy cleveland,
t1;au. asay S9Pper u'ahcs, longer,
49, nu sys.spe. a. oi tnese
,non ea. f, .''aus 81 uepth OF
,, SvJ H.. inoe vs,o" sne present
aaaa ~ M. oP Sas.a were nahal,
,es ' VP'A ~ ao'ouht "
tsrha n,n I, Il !. 4, (.
t,anst sv ns s ~ Lo I, "
yarsops va;n1 lraa ~" ~. 49, ga ~ sni.s ~
av $3.50 o,eraJ Az ~. anu rssentIy
Fart,,na' MIMI Gomnana s' Win .n ,'
stiil f,rthet ~ the saat y sss,,a
ors ~ ,.'.Asa 60. s1, s..nsPy ~
Tb;s w;I, mean iy IN, tne, a ,mo,kings !
Montana Bingham company q tunnel.
as both the Congor and Fortuna mines
have developed large bodies OF ore and
are regular shippers.
Nearing Fortuna vain.
..r.z;. "a,
.r.,.t 1ss,u,a.eu W mining engineers
."s t .,. system, OF VEINS VIII
~, 1917, 'ns mex. aV 1o, or -svv lee reef
,he;r AasP.p - apont : Ivy ieet Dsiow