Show L Si 5 H. H BOYS GRAND CENTRAL CENTRAL 3 0 DEAL Property Pro p er ty Of Chief Con Is I Involved in Sale Transaction Hailed Haired as as' Evidence Evidence Evi Evi- dence of Faith in Mining Min Mm- ing future Purchase by the American Smelt Smelting ting t- t ing Refining company of the Grand Central property of the Chief Consol Consolo Mining company for in cash and royalties was wasP announced Saturday Negotiations were were Completed com om by W W. J. J OConnor O'Connor manager lof of the Utah department of the Amer ican lean Smelting Refining ng company and Walter Fitch president of the Chief Consolidated Mining com company pan Development work of the property with its to I tons of low grade siliceous ores will be con ducted during the summer by the A. A S. S R. R further employ employ- ment in the T Tintic district The ores will be used to b build ild up the reserve silica supply of the A. A S. S Sc R. R smelter at Garfield The A American Smelting Refining I company's purchase and program for the Grand Central development is another step in the comp company's nys ny's 1933 program which includes the leasing of the Boston Consolidated Sulphide property of or the Utah Copper company com corn pany and the un prospected gr ground und of the Utah Metal Tunnel tom torn pany Under these long term leases the A. A S S. R RL has started work on a development program involving the expenditure of between and md in the sinking of an foot 1800 three compartment shaft in in the Enston Bos Ens- ton Consolidated Sulphide and the driving of several everal thousand feet of crosscuts and drifts SIGN OF CONFIDENCE The Grand Central mine is one of the thc oldest properties in the thc Tin Tintic tic dis dis- dis first work having started in 1871 Comment in mining circles Saturday Satur Satur- day when the news of this deal was announced was that was it-was added evi dence of faith in the potential and immediate future of the mining minim in in- in the state This and other r recent bold plans announced for en operations is generally regarded regard regard- ed cd as the most practical and tangible sign ol ot restored confidence manifested manifest manifest- ed since the thc bottom was reached in the market for the output of utah's diversified met l mining enterprises The Grand Central mine which adjoins ad ad- joins the Mammoth and the properties consists of ot acres and includes a number of claims principally the thc Louisa Lode the Christopher Columbus Consort Grand Central Dove King William Mount Hope Paradise Swan Snow Bird and Wedgewood The property has paid in dividends ACQUIRED IN 1922 1022 The Chief Consolidated Mining company acquired the property in January of or 1922 and si since ce November 10 1922 it has been operated as a department department de de- de of the Chief Consolidated The Chief Consolidated purchase was made from the late Colonel C. C E. E Loose of ot Provo and associates The Grand C Central Mining company was organized in 1902 with h headquarters at Provo and nd with J. J T. T Farrer as president H. H L. L Holbrook as vice president t C Colonel lonel Loose as general manager Preston G. G Peterson as secretary sec see and treasurer and W W. W WD D Loose as general superintendent Op Operation of orthe the Grand Central by the Chief Consolidated ted produced dry tons of ore ore from which 57 57 ounces of gold ounces of silver pounds of lead and pounds of ot copper copper- were ob ob- ob Net smelter returns from rom these operations amounted to 2768 Development work of the property by the Chief Consolidated h has s included feet red of drifts 12 12 feet of oL ra raises and 1455 feet of ot otwin win e |