Show high class local mining men and engineers take hold and prepare to make a mine of bingham metals property the bingham metals mining company which bought in the properties assets and liabilities of the old bingham new haven mining company at receivers sale last july has been whipping its affairs into fine shape since the middle of the month since that time it is stated the balance of due the receiver has been paid all obligations of every nature have been wiped off the slate and there now is nothing left to do but mine ore and prosecute development of the property on an extensive and profit yielding scale and the new company did not have to go away from home to do the financing necessary to make the proposition pay according to the best information obtainable the complete financing of the deal came about something like this the bingham metals companas comp anys representations indicated that there was much good commercial lead silver gold old ore developed in the old workings that the boston interests previously owning the mine had been unable to realize upon quite recently this condition reached the ears cars of substantial local mining men and engineers and arrangements were made to have the property examined after this was done the men who did the real financing on the original purchase of the property at receivers sale with tile e addition of a friend or two decided to advance the money that would put the company in the clear and make possible Vos possible sible the operation of the mine on an unencumbered bil business siness basis I 1 the men now at the helm inthis undertaking are L L 1 D knight local representative of the ingersoll rand CP C P president and consulting engineer W H mitchell ice president H H richardson of the richardson bower company secretary treasurer another director is yet to be named R M hampton is named ds as superintendent of the e mine recent reports indicate that there now is exposed and developed approximately tons of marketable orein in th he mine workings and that when development plans have been een rounded into shape present production said to be aver ain g fifteen carloads a month can be largely inar increased eased and the mine made to pay handsomely the e bingham metals property cons consists ests of t twenty w enty six six acrea res of mineral bearing ground and is surrounded by utah copper copper utah delaware and the old highland boy ground of 01 the united states company it is stated that the latter now is extending its niagara tunnel and that it avill 1 l pass pass through bingham metals ground on a horizon hat t is is feet below the foot level of bingham metals aw approximately abely at the lat lattery foot level when the niagara agara tunnel reaches the side lines of bingham metals it is s understood that a foot crosscut willbe will be run kotap the first of three veins that exist in bingham metals ground that connections will finally be made with the bingham metals shaft workings and that it will then be possible to carry on mining in in a broad guage fashion the bingham metals shaft is now practically timbered re to the foot or present deepest level of the mine so that everything augurs well for the future of the undertaking according to its sponsors since the property was bought in at receivers sale by the organizers of the present operating company what mining has been done in the ground is said to have been by leasers leaders lea sers whether this policy is to continue or whether all development and mining will be done on company account will it is said depend on th the line of action mapped out by those who now are in the saddle |