Show COMMENT ON UTAH MINES the final echo has been heard regarding the famous mammoth grand central litigation which has been before the courts for almost ten years A fortune has been expended in this suit and a compromise between the two companies would have saved a nice amount of dividend money for both As it is a judgment of with interest stands against the mammoth as the first decision and each subsequent one was in favor of the grand central local investors and others perhaps who are holdin holding stock in the newhouse mines and smelters shelters Sm elters corporation are not overjoyed at the latest turn of affairs in this concern some who purchased the stock around twenty dollars a share and are now receiving bids around are much discouraged over the recent shutdown of the mill and curtailment at the mine it is explained however that this is only a necessary step to greater earning capacity and that when the property is again opened a new record will be made samuel newhouse has plans on foot for the reorganization of the company an increase in the capital stock and a merger with the fink smelter company the idea seems to be to make a holding company of the newhouse mines and smelt ers the fink smelter and to take into the organization several other properties which mr newhouse controls making a combination which should prove highly profitable few people realize that here in utah we have a mine producing gold ore that in any nevada camp would cause a big sensation but which creates but little interest locally this does not refer to cabinet specimens but to carloads A shipment of thir ty two tons of ore sampling between and ounces in gold per ton was recently made from the mammoth mine in the tintic gintic district at this figure the lot will bring in something over it transpires that the glorieux smelting smelling Sm elting and refining company of irvington N J was the successful bidder for the ore and that the local smelters shelters sm elters are a little discomfited over letting a foreign corporation outbid them in their own territory entombed for fifty hours by a cave in in the tunnel at the st patrick mine near cottonwood canyon southeast of salt lake city was the experience of jerry and george peterson last week even with hundreds of willing hands to help in their rescue it seemed doubtful whether the men would escape as subsequent slides occurred and made progress extremely slow in these instances of mining disaster the nerve and courage of both victims and rescue parties are sorely tried and they furnish ex cellena examples of real heroism there was considerable elation last week when the information was received that the ways and means committee had made no change in the duty imposed on lead this is taken as an indication that there will be no change in this direction when the final revision of the tariff comes up and utah lead miners are beginning to see a light ahead important events have transpired during the past week at the ohio copper property at bingham the first was the disclosure of a large vein in the new crosscut from the raise above the mascotte tunnel thus adding to the already enormous tonnage developed in the mine the second important event was the connection between the shaft and the raise from the tunnel considered to be one of the most wonderful engineering gi feats ever accomplished in mining it is said that the two came together perfectly and the result even better than was hoped for it now only remains to get the new mill in readiness and the ohio copper will enter upon an era of productiveness ti veness that all big strikes made are not heralded to the public has been shown in the case of the frisco contact company operating down in beaver county some months ago important disclosures were made on the foot level of the companas comp anys property and the find was kept a dark secret until the management could acquire all the adjoining property it desired this was done very quietly and now manager has rounded out a splendid piece of territory with the making of several big mines the lion hill at ophir continues to open up in a manner that is more than gratifying to the owners the high grade rock is still very much in evidence and each days work is constantly adding to the resources in sight all of the late work has been done in virgin ground and it will take some time to determine the extent of these new ore bodies |