| Show iinoiiIoi It Has Been Acquired By Salt Lake Men TAKE OVER 300000 SHARES Prioo Paid Is 41 Cents a Share Tho Great Bodies of Ore Exposed In the Sline Tho Con Blercurs Visiting Officials Aro Delighted With the Ore Reserves and the Skill of Working Vhic1i Produces Nearly a Thousand Tons a Day Status of the Grand Central Minin ITotcs That control of the Star Con of Tintic bas passed Into the hands oC D II Pccry Wiilanl F Snyder and their associates on an option reciulrlng the payment of 41 cents a share for over HOOOOO shares to Milan Packard et al was yesterday verified by each of the t gentlemen on their return from the property and that the undertaking will be consummated today before the contract con-tract matures appears reasonably certain cer-tain Every condition Indeed favors it The reduction in the cost ol transportation trans-portation by which an enormous volume of slliclous ore carrying sold silver and copper is suddenly provided with a market the presence of enough of a quality that alTords a margin under old conditions and a new strike that is characterized as the most important im-portant In the history of the mine would Indicate Indeed that nothing could occur lo get it away from the purchasing crowd In the meantime it has practically assumed the management manage-ment and in perfect accord with the views of Chilean Packard the superintendent superin-tendent is directing the campaign of development at tills time Discussing the latest strike Messrs leery and Snyder who devoted Wednesday night to nn examination of it said yesterday that the workings are all In ore with the body to be tupped within forty feet on the 300foot level and thn ores drawn SI oR from that point While the management man-agement has had many disadvantages under which to labor during1 the year it is congratulated upon the splendid results that have been achieved and it is estimated that under the new tariff it has 150000 tons of ore on which the company will now lind IL possible to realize Concerning the rumored con fiolidation with neighboring companies the purchasers of the Star Con say It Js without foundation as with over 200 acres of ground and enormous ore bodies in sight they are willing that It shall stand on its own bottom |
