OCR Text |
Show Bingham West Dip Tuesday Is Reorganized With Utahns in Control. WILL SEND TUNNEL TO BINGHAM MINES Eastern Capital Stands Ready To Finance Big Project To Success. On Tuesday in Salt Lake a reorganization reorganiza-tion of the Bingham West Dip Tunnel company was perfected, and an cntlrefy new combination ' of mining men were placed at the head of this organization. The company was formed some time ago for tho purpose of sending in a long tunnel tun-nel from the Tooele side of the mountain, tapping enroute 'practically all the great mines of Bingham at a great vertical depth. This long avenue into the Bingham Bing-ham mountains was conceived for the purpose of draining Bingham, affording a practical .and economical outlet for the ores of the camp, and for opening up such ore bodies as might bo encountered along the route upon the properly of the company com-pany Itself. Under the new order of things. Harry S. Joseph is president and manager cf the company. F. M. Lyman, Jr., is vice-president-, W. H. Farnsworth Is secretary, and J. U. Eldredge Is treasurer. M. Pratt completes the board of directors. Mr. Joseph Jo-seph stated to Tho Tribune yesterday afternoon aft-ernoon that the reorganization was made In the face of certainty In financing the proposition anew. E3tern capital has been interested in the project, and work will be commenced as soon ns everything has been brought to an operation basis by tho new management. The tunnel al-readv al-readv has been sent 2000 feet along Its journey, there being 13,000 feet yet to drive before the tunnel has reached Its objective point This enterprise, stated Mr. Joseph, will cost the estimated sum of $300,000. but Inasmuch as $SO.O0O has been used up to tho .present point. It Is reasonable to suppose sup-pose that the cost of the tunnel proper and the many laterals that are to be run will greatly exceed tho figures given. There is no doubt, however, of the wisdom wis-dom of the proposition, nor of the ultimate ulti-mate success of the enterprise. The Importance Im-portance orf the tunnel may be readily appreciated when It Is taken into consideration consid-eration that It will tap the Utah Copper company's property fully 900 feet below the present workings The management has not been at work on the tunnel for threo months. , it Tho Bingham West Dip company Is the owner of about 900 acres of land within which, It Is reasonable to suppose, are contained typical Bingham ore bodies. The tunnel will open tho way to these resources, re-sources, and will handle tho water as well. On tho Toeele side of tho mountain In Pine canyon, states Mr. Joseph, the company owns a magnificent smelter site and an abundant water supply. The water supply will bo Increased so as to bring tho company up to a high stundard of importance im-portance as a producor and provider of electrical power to Bingham, Salt Lake and vicinity. Mr. Joseph states that the now company and Us financial backers appreciate the enormous possibilities in the completion of tho Bingham West Dip plans, and that no time or money will be spared to bring the fruition of these plans to an early realization. |