Show I LIPMAN MINES AND TUNNEL A ThreejilillionDollar Organization to Develop tho Properties Tho organization of the Lipman Mines nnd Tunnel company with a capitalization capitaliza-tion of 1000000 divided Into 1500000 shares of the par value of 2 each has been completed the equipments for a campaign of most energetic development have been ordered In this city and with all the sinews at his command Manager M II fjlnninii will rlnnnrl for lie com panys holdings I out of Hniley and Iilt Uulllon Ida tomorrow night The possessions pos-sessions of the new company consist of a group of mines adjoining the Red Elephant Oil the west the Bullion and Mayflower that have boon productive of 5000000 on the cast and upon the great mineralbearing zone from which ores of tho value of SI351Jlii have come to the smelters occupies n most enviable position In the development of the companys holdings Manager Llpman has driven Into the gioup n distance of CO feet where u strong ledge was encountered the ores extracted by him tilling on centrals showing as much ns 185 per cent lead 217 l ounces silver and H I gold per ton I In addition to the first class ore the vein eight foot between walls contains a considerable milling ore for the concentration of which a plant will be provided To attain a depth of J200 feet upon the ledges to drain them and to provide an economical economi-cal outlet for the ore the new company will at once begin driving a tunnel from Red Klephant gulch the work to bo prosecuted with all possible energy and to the earliest completion possible Mr Llpman to give it his undivided atten iou Jn the organization of the new company which is done under the laws of Arizona Gov llehev M 1 Wells Is made president Fred J 3 Kiofel of Ogdcn vicopresldent William A Xeldon treasurer t Fisher Harris secretary and M If Llpmnn general manager these with Rulon S Wells and C 12 HulEon to constitute the board of directors |