Show PURCHASE OF TESORA 1 I II I i I 1 I G C Company Buys f he JIO Control C I r I MUll HIGH RI TINTIC PROPERTY f I I I OF OP I i H MADE NDE YESTERDAY 4 of the Stock Was Secured 1 t Some Time Tims Ago Reported That I Purchasers Paid About 50 Cents II I Per Share Mammoth Will Pay a 11 r Dividend I 1 Ii 1 i Yesterday Yes witnessed the closing ing of a aI I I II most Important piece of business by bythe byI bythe I ft the management of ot the Bingham Cop Copper Copper COPper per Gold EI Mining ng company the trans transaction transi jI i I action act on involving inv nothing n less than the 11 z purchase of the control of the Tesora Tesoro y I mine min at Tintie The real business of ot i J capturing control of or Tesora stock was undertaken early oady in the winter and oo so Jl nicely was vas It manipulated that even i at the annual meeting of the company nt held hold on Jan 16 when the old manage management J I ment meat was tons us deposed no one appeared to toi i C know just what was being done At Ati 1 i that meeting much of the stock was wast wasI Suther Sutherland Sutherland t I voted by proxy and Georgo George i land was made president Clarence K Kf f 1 McCornick and D H HI I Peery Pecry jr secretary treasurer and manager John T Hodson was the old secretary and manager and he be together er with J H Stallings retained a place on the new board I According Acc to Colonel O 0 P Posey was waa questioned mat matter math h ter tet the Bingham Copper Gold corn com company j pany was at the time of the meeting H i in possession of over of the theT Tesora Sora T stock or in the neighborhood i of out of the shares and andt t the tho action taken yesterday he said saidI I simply transferred the management of t the property to his hands in behalf of the tho Bingham company The old offices will also alro be closed and the headquarters tern transferred to the Bingham Bin ham com con conI comI I quarters on the seventh floor of ofa a the block That the gen gentleman genI I tiernan said was about all the change e that toot would occur at the present time I At the last annual meeting of the 1 Tesora the manager reported that t nearly had been expended dur dirr during f i ing lug the year in development work and the books closed with the company in m inI I 4 debt in the sum of A as assessment assessment was levied and that indebtedness I edness e line has since been wiped out so s the Bingham Copper Gold company is isnow Isi IsI I i now in possession of ot not only its mag magnificent magnificent magnificent Bingham mines but one of the I 1 most mo t promising properties in the whole Tintic district as well a fact which makes assurance doubly SUre that the J new DEnv smelter will have bave more ores at its disposal for lor years to come than it will ill possibly be able 0 o treat i I The price at which the control was J 1 secured scoured could not be learned but a aI close guess put it at an average 1 I I of 80 60 cents a g share or about The ores of the Tesora Tenon of which the mine is well supplied while wl le the shaft I is being sunk bunk from front the to the V t i t levels carry splendid values in gold j 3 copper silver and lead and many hun hundreds hundreds 3 of ot tone have bave been bean marketed at ata atIt atI It t I a handsome profit I kt I Under the general management nt of ii 1 Colonel Posey Posoy there is no question but butI A what whet most vigorous and systematic I jI I i development will be kept up UI at the I It t mine and in the near ne r future it should rank well with the Bingham Bin ham property pr perty tJ antI be ready to contribute its quota of ol smelting ores the moment the new plant is ready to receive it itIn itIn itIn In the meantime m no stone is being beth bethI left leCt unturned to hasten the completion I il j of Mie smelter Contracts for the fur f ii t n s were let some time ti ago Satur Saturday Saturday day last the structural iron iNn work nork was g ordered today contracts contract for tor the power powei t i plant and id other machinery will very ver cry 0 i t J likely be closed and inside of the tha next n need t tJ 9 J 0 week or so ISO the order should Mould be given ghen to toi t i i break ground |