Show THE STEWART DEAL I The Payment Made and the Snle Is Consummated I The sale of the Stewart mine at Bingo Jiam Bing-o the Bingham Mining company was perfected yesterday and the necessary I nec-essary payment was made thereby enabling en-abling the company to take up its bond At the succeessful termination of the Ideal I-deal the purchase price was first made public The mine brought 150000 and yesterday 90000 was paid on the contract I con-tract making 110000 paid by the company thus far pany I As was announced in The Herald yesterday yes-terday morning the bond and lease on the property expired by time limitation limita-tion yesterday but the purchasers could have taken until today to decide upon their actions the contract allowing one days grace This extra day was not deemed necessary h wever and the payment was made and the bond taken up There seemed to be a chance that the deal would not go through the recent re-cent negotiations looking to the sale of the property to an easternEnglish syndicate for 300000 having been declared de-clared off In explanation of the small amount for which the mine was sold the statement state-ment is made that the bond and lease were executed when the property was undeveloped and before the successful method of treating the ores had been discovered The mine was not nearly so valuable then as now and th former for-mer owners the members of the Stewart Stew-art Mining company considered that they were receiving a fair price for the mine which is now considered to be one of the moat valuable in the territory terri-tory I is turning out between 10 000 and 16000 in gold bullion every month and the amount of ore in sight is said to something marvellous The rock averages 920 to the ton and the present method of treatment is saving 95 per cent of the precious metal at a cost of about 2 per ton |