| Show IRON KING AT TINTIC IS FINANCED with the ratification of the action taken by the board of directors of the iron king mining company by the stockholders on the ad instant funds for extensive development and exploration without resort to further assessments have been provided the property of the iron king mining company adjoins the tintic gintic standard and the latter with a mortgage on iron king holdings running for three years has agreed to finance the sinking of a new shaft on the iron king as well as other exploration and development work it is understood that the sum involved approximately but a goodly portion of this amount it is stated is represented in funds advanced the iron king ZD by the standard when the branch railroad was built into the properties a few years ago discussing the aspects of the deal and what it means to the camp of tintic gintic and the mines involved the eureka reporter says for some time the operations at the iron king have been made possible through the levying of assessments but under the present plan the company will discontinue the assessment of the stock the financing of one mining concern by a more fortunate neighbor would appear to be an ideal arrangement and the deal between the iron king and the tintic gintic standard is one that should have the endorsement of the stockholders of both companies it is pleasing 6 to note that the relations between tintic gintic companies are s so 0 friendly that one is willin willing and anxious to assist the other such a 01 spirit of operation cooperation co means much for the future prosperity of the whole district property worked for many years te iron king tract of mineral land containing as it does immense deposits of iron which crop to the sur surface facey attracted attention during the very early days of the district the claims being located and operated to some extent long before anyone thought enough of the adjoining ground to put location notices upon it the control and management has been in the hands of col C E loose for more than thirty years and recent developments indicate that this pioneer mine owner of tintic gintic is going to have the pleasure and satisfaction of giving the district another mine he has already given us such mines as the grand central the gold chal chain in and the sioux consolidated and has been heavily interested in half a dozen other properties that developed into paying mines loose declined to sell out mr loo loose se has in recent months had a chance to dispose of his holdings in the iron king but every offer has been turned down principal prin principally cipa lly because he has been willing to sacrifice his own interests in h his is ae determination termination to play fair with the other stockholders people who have I 1 backed his judgment in the ground and who have shown a willingness toward its development through th the assessment of the stock recently the iron king people have op opened ened some very promising ore deposits but they fe feel elthe the rived of a ne new w shaft shaf t as they are at present mining their ore under a serious serious handicap now that the work has been properly financed and rapid progress can be expected in the new development campaign it is quite safe to say that within another year the east tintic gintic district will boast of another ano ther bonanza |
