Show NEW AOTU SOLD + Bingham Property Goes For Over a Quarter of a Million FORTUNE IN SIX MONTHS + MADE BY ROGNON AND FOULKES IN THAT TIt TI-t Property Was a Mere Prospect a Half Year AgoToday It Is a Big Mine With a New Mill Nearing Completion Com-pletion First Payment Will Be Made In July Terms of Sale Bingham records another big deal and this time the New Mammoth goes to an eastern syndicate for considerably consider-ably over a quarter of a million dollars I is said by some on the outside that the amount paid for a control of the stock was somewhere close to 1 a share but the most definite figure that could be arrived at from one of the principal ones interested in the sale of the property was something like the first figure named Scarcely more than six months ago the New Mammoth was a mere prospect pros-pect Today a new mill costing between be-tween 23000 and 30000 with a capacity ca-pacity of 150 tons a day is nearing completion com-pletion and the mine has undergone such development that immense bodies of ore have been uncovered Enough has been blocked out I Is said by those who ought to know to keen the new plant in continuous operation for two years t All this work has been done through the conservative judgment and business busi-ness tact of Ernest G Rpgnon and John E Foulkes who acquired the property prop-erty considerably less than a year ago They first incorporated it and floated a small amount of treasury stock for development purposes The mine Is in excellent condition All the improvements improve-ments stand today as a monument of their untiring energies and were done by men employed by the day to do the work I the material used in the buildings and mine was the very best and altogether it is one of the most modern and best equipped properties considering the age of the enterprise in the state of Utah Only a short time ago a block of 25 000 shares of the capital stock was sold to a syndicate of eastern parties outright out-right These gentlemen sent an expert out in advance of them to make a thorough ough examination of the ground The report submitted to them was highly favorable and they planked down the cash for this block of stock Soon after af-ter the principals come on themselves They were so well pleased with the property that they became anxious to get control of it and submitted an offer of-fer which after due consideration was accepted by Messrs Rognon and Foulkes who owned a greater part of j the stock The purchasers desire to secure se-cure all the stock and anyone owning I any scattering certificates will be allowed al-lowed to come into the deal on the sam ratio and receive pro rata for their holdings The control of the capital stock has been placed in escrow and the first payment will be made on July 15 Until that date there will be no change in the management Mr Rog non has been requested to remain as manager for the time and superintendent superintend-ent J E Beveridge has been asked to continue in charge of affairs at the workings There are few properties anywhere that can boast of the record of the New Mammoth The erection of the mill did February not commence until about the middle of |