OCR Text |
Show I CONTINENTAL MINES AND SMELTING j CORPORATION. . A great factor in the reinstatement of the famous old camp of Alta, in the list of Utah's great producers, is the Continental Mines & Smelting corporation, operating the Continental ! Alta mines, embracing the holdings of no less i than five of the early producing companies of the camp. During 1905 this company has installed a five-mile five-mile aerial tramway, with capacity of twenty tons per hour, 100-ton daily capacity concentrating mill and a water power system for the purpose of per-ating per-ating the mill and electric light plant. This aerial tramway is the longest line in Utah, and one of the longest single length systems yet installed, is of the latest pattern and a model of engineering skill. This rope-way was designed primarily for the transportation of ores from the company'3 i own mines, but is also laid out tributary to all the tjH important producers of the camp, and b'y' next summer will have begun custom transportation jH for other mines. This system saves the Conti- ncntal company $5.00 per ton on up-freight and $1.75 per ton on ore down. Over it the company handles all of its supplies and mining timber, as well as its being an authorized United States mail route, the mail being transported in two white buckets. By availing themselves of the use of this tram, producers of Alta can save from 75 cents to jH IH I! $1.25 per ton on ore transportation and,$l to $2 I per ton on up-freight, f , While the Continental Alta mines have pro- duced steadily a limited tonnage of ore for the I past two years, a great deal of development work has been in progress, with the result that now the lower tunnel has just reached the main ore chutes of the bonanza days, and which result has only u been achieved after more than two years of con- stant deep development. i The great enterprise of the Continental company com-pany for the coming year will be the re-installa- tion of the Rio Grande Western railroad branch from Bingham Junction to Alta, affording the I camp low transportation rates and all the advan-! advan-! tages of rail service. While the company will ; j operate passenger trains from Bingham Junction, the principal freight station will be maintained at j1 Sandy. The consummation of this rail instalation j wijl greatly stimulate th6 mining industry of Little Lit-tle Cottonwood district, and without question will fully double the value of every property in the pj camp and render available hundreds of thousands J of tons of low-grade ore that will not bear the high wagon haul tariffs now exacted, which haul-11 haul-11 ing expense amounts to $3.50 per ton on ore down. The completion of this line wiH give daily II train service to the summer resort of Wasatch, as well as placing Brighton lakes within two miles of h its upper terminus. It will also be within five y miles of the principal producers of American Fork ! district. There are also valuable fluxing deposits in and immediately tributary to Little Cottonwood i canyon, as well as the granite quarries of Wall Wa-ll satch, all of which will furnish regular heavy tonnage. In fact, this enterprise means a new era i for the camp of Alta, which has already dawned II in a very substantial way, and there is no reason why the immense low grade ore bodies of Alta : should not attract attention and capital to the If camp, even as did the wonderful, but long-neglec ted, opportunities of Bingham, once given adequate ade-quate rail transportation. The Continental Mines & Smelting corporation, corpora-tion, capitalized under the laws of the state of New York, has been organized two and a half years. It is a close corporation, there being but 20,000 shares of stock sold, out of a total capitalization of 500,000 shares. The capitalization of the company com-pany has recently been reduced from $5,000,000 to $1,500,000, of which capitalization $500,000 was placed in the treasury to complete the railroad. All stock, except that sold for treasury purposes, is pooled, and has been since the incorporation of the company. |