Show HATCHET AT BINGHAM IS BURIED BY TWO BIG OPERATING COMPANIES A special dispatch from boston to the salt lake tribune dated wednesday last tells how the utah apex and international interests have finally ironed out their operating problems and made possible operative cooperative co efforts in the future development of what is generally believed by engineers to be one of if not the greatest lead silver zinc ore bearing zones or deposits in the state of utah the dispatch explains what has happened as follows by reason of contracts and agreements between the utah apex mining company and the utah delaware mining company terms of which are announced here today it is believed that the most energetic exploration and development campaign as yet undertaken in that portion of bingham canyon is made possible the international smelting smelling Sm elting company which like the utah delaware is a subsidiary of the anaconda copper and the american smelting smelling Sm elting and refining company similarly allied with the utah apex interests are also signatories signa tories to the agreements rea reached cled negotiations it is thought have reached a conclusion that is eminently fair to all the interests concerned ore mining rights defined each company now knows that whatever ore may be found within the agreed boundary lines of the respective properties is its own and that there is no danger of a repetition of litigation like the former legal warfare in which was spent approximately utah apex acquires all the extra lateral rights to the yampa limestone which were owned by utah delaware mining company except those rights under the surface within vertical boundary lines of the latter company advantage may now be taken of the present high metal values without awaiting the results of long litigation knowledge of the geological conditions of the two properties will be available to each and utah apex will have the benefit and availability of anacondas organization for solution of mining geological and metallurgical problems terms of agreement outlined A synopsis of the terms of the settlement of the ore dispute embraces the following the two mining companies have agreed up upon an vertical geruc boundary lines as the limits between their properties ies fach cju company has deeded to the other oth er all rights which ch it may lines of the other within vertical boundary possess smelt american smelting smelling Sm elting and refining company is is to amei half the lead ores from the disputed territory and international smelting smelling Sm elting company the other half the international is to reduce the zinc concentrates of utah apex mining Coni company pany the utah delaware receives certain well defined low grade copper ore and certain mining territory within the the utah apex vertical boundary lines international smelt ing company receives a 2 surcharge on one half the tonnage of lead ore and concentrates smelted smelter by it for a block of ore in the territory in dispute utah apex receives equal rights to the use of hoisting shaft and pumping equipment of utah delaware I 1 mutual use is agreed upon of the mine workings of both companies provided that such use by one of the companies does not interfere with work of the other mutual release is given in connection with past acts |