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Show ilLEfi-PEfll deal cram Kansas City and Idaho Interests In-terests Take Over Ground in Little Cottonwood. PUSH DEVELOPMENT Transaction Is of Much Significance, Insuring Benefit to Camp. It became known in mining circles yesterday that the long-pending deal -for tho transfer of the Miller-Peruvian properties in Little Cottonwood canyon had been consummated, the purchasing interests being I. A. Utter of Boise, Idaho, and D. K. Wilier and associates of Kansas City." The. Miller people are capitalists and builders of railroads, and now own the famous El Tigre mine in Mexico, for which they paid nearly $1,000,000. Mr. Utter was for nine years Burvoyor general of Idaho, having resigned re-signed his office only a few months ago. Price Not Given Out. The price which the purchasers of tho Miller-Peruvian mines will pay was not given out, but E. (J. Miller, president and general manager of tho company, admitted yesterday that the deal had been closed, and, regarding the amount involved, stated that it was perfectly satisfactory to himself and the other stockholders of the company, as were also the terms of payment. Tentative arrangements, said Mr. Miller, are already al-ready under way for the operation and development of the Miller-Peruvian through the South Hecla mine, the negotiations nego-tiations being conducted with George "Watson, general manager of that property. prop-erty. While Mr. Miller did not desire (o make public the terms of the deal, it is self-evident that a large sum is involved, as the property which the new interests will take over comprises teu full claims, located next to the South Hcola and the .Sells mines, and sufficiently developed to prove the existence of great bodies of lead-silver ore of good shipping grade. In fact, the Miller-Peruvian has been a shipper throughout the year, and the settlement sheets have always seen the balance on the proper side of the ledger, with a snug sum to the good. Plan of Development. The plan of development worked out by the new interests, because of the abundant capital possessed, means much to the entire camp of Alt a. From the South Hecla ground a 3000-foot tunnel will be driven. The first 1000 feet of the tunnel will carry it to the breast of the Miller-Peruvian ground, and 2000 feet more of driving will be required to push' the tunnel entirely through the propertv. This will reach, at a vertical depth of 1000 feet, the Miller-Peruvian ore bodies that at present have only been explored and developed near the surface. It is estimated that the cost of this work will be not less than $75,-000. $75,-000. and it is planned that operations shall be commenced within sixty days and rushed with all possible speed. |