| Show I 1 BIG BINGHAM DEAL Sale of Zelnora the Stars and Frisco Groups I I I I LAUNCH 2000000 COMPANY i J tatest Developments on Little Bell I Strike Great Volumo of Supplies I I Headed for Alta Final Payment in tho Virginia Con SaleDay on tho Mining Exchange Scrap i Over Century Assessment IToto I nnd Personal I I 1 I t I Consummated in town yesterday was i a deal In which another of Blnphnms I bargains passes Into the hands of a most formidable syndicate of Eastern I Investors the transfer which Involves a large sum ot money and upon which I the Initial payment was made through tho bankinghouse of McCornlolc Co 1 comprehending none other than the I Morning Star the Zelnora and Frisco I groups each of them occuplng a most conspicuous position upon the great copper and goldhearing zone and I nextdoor neighbors of the biggest ot the camps bonanzas I Over no cluster In Bingham has tel te-l rivalry between Investors been more I I In the construction oC the companys water line between Meadow Wash and Do La Mar Superintendent Janney reports everything In the campaign of equipment moving on to completion at the curliest day posnlblo Meanwhile the riches underground continue to multiply with the condition throughout through-out a moat satisfactory one t 1 I Ii i I J 13 < nf t f 44 I I ff I K I 0 f t I i I I S I 1 1j 1 j 7 1 4 I 1 1 1 1 1j j JJ 1 I I I II I Ij j I Diagram Showing Position of Bingham New Haven Purchase and Bonanzas I Bo-nanzas Which Incloso It spirited To tho talent which had been ncourlng the camp It appealed as the last of the big bargains One overture after another was rejected the owners stubbornly holding out for figures they OiadlTueTrtaught to believe themselves entitled to About nlnoty days ago D II Peery began to addrcsa hIs attention to the owners and Joined by Andrew J Malloy of Colorado Springs an option op-tion was secured Under Its conditions I they were permitted to go to work and place the IcdKCfl on trial The results were electrifying In tho Zelnora from which ores of the value of 75000 have been derived according to the records aL the smelter the ledge was opened for ICO feet on a continuous body oC ore which has maintained an average of ten feet between walls while multifarious multi-farious assay certificate show as much ns 10 per cent lead 25 ounces silver 25 per cent copper and 2 gold per ton The extensive developmenL which has been prosecuted on the Frisco cud j 1 which has been productive of orS for which the owncrw drew down over 300 i 000 afforded all the demonstration necessary although In the extraction of Ibis wealth developments had at no lime Exceeded a depth of 300 feet Twenty years ago the Morning Stars first attained their prominence atj producers pro-ducers of silver and lead and along In J the category In which the main proper tics of the United States Mining com j giany and others then appeared It was while going down upon this class of ore however that copper BO repugnant at that time to the methods of reduction Jn Salt Lake valley began to preponderate prepon-derate and work mm suspended after silver and lead ores of the value of 500000 had been marketed The amazing 1 amaz-ing dlBcloBures In the Highland Boy whose powerful ledge traverses the Stars and the achievements at the fUnlted Stales and others revived Interest In-terest In thlss ns It did In other neglected neglect-ed territory however and under the PceryMalloy option work has been prosecuted with results Identical with I those achieved by the neighbors In two tunnels by which the zone that reveals re-veals a width of 100 feet has been tapped characteristic ore has been encountered en-countered and work here will be prosecuted prose-cuted on the most vigorous I scale With these groups embracing no less than 118 acres of ground systematic development devel-opment will be Inaugurated at once 5To that end the Morning Star tunnel which has now been driven Into the territory a distance of COO feet will be extended to tap the main ledge at a I depth of f 00 feet below UB apex the same avenue to continue from that station sta-tion to tap the main Zelnora ledge at a depth of 000 feet from the surface I Immediately the purchase was consummated con-summated yesterday the Bingham and New Haven Copper und Gold Mining company to which the conveyance Is made wa launched with a capitalization capitaliza-tion of 2000000 divided Into 400000 j nharos of tho par value of 5 Of the I company L E Stoddard a prominent banker of New Haven Conn Is president presi-dent William M Bradley of the Centennial Cen-tennial Eureka and the United States vlceproBldcnt and D W Farnum of New Haven secretary and treasurer Constituting tho board of directors are Messrs Stoddard and Bradley with W S McCornlck of thin clt y A J Malloy of Colorado Springs and I M Benedict of Cripple Creek With ample provisIons made for the energetic development of the proposl tlon It opens up an onq of the most magnificent possibilities the campaign underground to be under the Intelligent direction of Mr Benedict with J B BeverldKe the mining engineer who Is no familiar with the geology of the great camp to nerve In an advisory capacity ca-pacity Campaign nt De La Mar Frank Janney who Is superintending S the equipment of BambergcrH De La Mar mines leaves for the south again today after conferring with the management man-agement und after awarding a contract for two miles ot voodeu pipe to be used J I 1 iJ |
