Show THE centennial EUREKA the sale of the centennial eureka mine at eureka tintic gintic to the united states mining company on tuesday august au was a brilliant finale to the history of this property while under the management which has been in control of this magnificent wealth producer ever since it first made its initial appearance in the mining arenas arena as a mere prospect As a matter of fact the career of the cen tennial eureka has b as been a continued series of splendid successes and it is one concerning concer c which the centennial eureka company may well regard with justifiable pride as there are but few instances in mining annals where a mine has after but little time spent in ex work not only paid its own way but has made its shareholders the recipients of regular rea ularand and heavy dividends and in the windup wind up has brought them 70 a share for their stock and this within the period of a few brief years in certain circles it has been known for some time that a deal was on involving the sale of the centennial eureka but the public at large was not prepared for the announcement made a little more than a week aaa ago that this great wealth producer had virtually passed into the hands of the united states company now owning some of the best mining ino properties in the old reliable camp of bingham and that a ten per cent deposit on the purchase price amounting amo tinting to had been placed in a salt lake bank to the credit of the centennial eureka company the balance to be paid on or before january january 1 1900 this is one of the largest mining deals to be chronicled in tintic gintic district for a number of years past involving as a s it does the payment of the handsome sum of two million one hundred thousand dollars the transaction being the direct outcome of the purchase by the united states company some months ago of the old jordan galena the old telegraph the niagara and other valuable bingham mines and the credit of inaugurating the deal for cente centennial the anial eureka eurek can pro properly p be ascribed to james W neill general superintendent of the united states company company who called the attention of his people to the fact that in addition to their immense deposits of fluxing flexing ores at bingham a certain amount of material was needed for their successful smelting smelling sm elting the centennial centennia I eureka being the property pointed out by him as the mine producing this essential product the consequence being that J E bamberger took the matter up with the united states company resulting in its acquisition of one of the greatest bonanza propositions in tintic gintic district and it is learned that in the workings of this property more good silver gold and copper ore is blocked out and exposed than is expressed in the purchase price named in the transaction and in value in excess of the amount already paid out b bv v the centennial eureka company in divid dividends lends which at the present time figures up to the goodly sum of almost every mining man in utah is familiar with the history of the centennial eureka this splendid dividend payer was the subject of an illustrated write up in the columns of THE REVIEW a month or so ago so that readers of this paper are fairly well posted as to what this mine has accomplished in the past but in this connection it is timely to refer again to the subject as it is not every day that a topic sy pleasing presents itself ca 0 the newspaper fraternity the centennial eureka popularly known at the blue rock in the early days daya olf of Titi cs history I 1 was located in the year 1876 and by the mining men of eureka was looked upon as a doubtful prospect and the four principal owners of the ground o round W W chisholm colonel J F woodman J D kendall and J E bamberger who were personally identified in the first development of the ak COL J F WOODMAN president of the centennial eureka property were the subjects of commiseration and good advice at the hands of friendly mining in operators of this now prolific camp who were satisfied that nothing good could come out of the blue rock undaunted however and stimulated by the hope and belief that this was the making of a rich producer and heavy dividend payer the four continued operations in the face of many discourage ments unaware of the fact that with their brightest brig hest expectations realized the mine had many many surprises in store not only for them selves but also for the mining public and the country at large as it was not long before their toil was rewarded by an important disclosure of the precious metals from which operating expenses were soon paid leaving a nice surplus to apply to a dividend account abid and ever since that day the mine lids has distributed tri buted wealth galore among its fortunate j shareholders the amount of the disburse ments n never ever falling falline below 50 cents a share 1 per er share being be lal 1 r more frequently paid while 2 1 a share was not of infrequent occurrence it often being the case that only a few carloads of ore from the property were required to pay running expenses and the monthly dividend and while the world was being enriched by this stream of imperishable imperi wealth the mine was not impoverished as it has always been the rule of the management to keep development work ahead of ore extraction so that it has ever been the case that from two to three millions have been kept in sight 7 in the mine and it was in this admirable physical condition when it passed into the hands of the united states company a week or so ago and it is the opinion of con serva tive mining men that even with this remarkable showing no one knows knovs as yet vet the possibilities of this bonanza as continued conti ilu ed ex is constantly revealing new ore zones new bodies of gold 1 old silver and copper ore bro and these deposits de bogits of the precious metals are bounded by no narrow walls as huge ore zones in in lime are the characteristics characteristic fc of the of the eure ka portion of tin tic district the chief owners daners of the centennial eure ka stock already named to whom can be added W H bradley are all respected and influential citizens of salt lake and they are to be cona congratulated over the successful termination mi ini nation of this mining venture while the new purchasers are equally entitled to congratulatory expressions as in the centennial eureka they have a proposition of known merit and of wonderful possibilities with the acquirement of everything ever y thing 11 it wanted in the way of bingham mines and the acquisition of the centennial centennia l eureka the united states company is now in a position to I 1 carry carry to successful fruition its well laid plans concertino conce concerning rnino mining r operations in utah it has the mines productive of the different classes and grades of ores in immense quantities and is now in shape to build its proposed ton smelter which will materialize during the next ten or twelve month the plant to be installed at the company companas comp anys s desirable site on the jordan river but a short distance west from bingham junction |