Show S Salt lt Lakers Acquire Interest In hi California Tin Till Property Acquisition of ot the only known tin deposit In the United States a d de deposit deposit de- de posit claimed by reputable engineers ers to o be probably the largest largest- In the world orld has just been accomplished by a number of ot Utah and California Califor Califor- nia la men It became known today Assays show a deposit of ot ottin tin averaging better than 20 per percent percent percent cent tin bullion to the theton ton of ot ore the assa assays s 's covering many tons of ore taken from the tho property which Is Is' located In southern California b between tween Riverside and Corona The purchasers of ot the property have Just completed the Incorporation tion of ot a company under the laws of Nevada with James Tames J J. J Cude well- well known mining engineer of at Los of-Los Los Ang Angeles An An- g gobs geles les as president George C. C Shipp of ot Salt Lake vice president and treasurer W. W V W. Hardy of Salt Lake secretary and Ralph Cloninger Cloninger Clonin- Clonin ger and D. D D. D Crawford as additional add addi directors Other Salt Lake City men interested financially Inthe in inthe inthe the project are W. W G. G Lambert manager of the Paper company G. G E. E Wilson Vilson of ot the Wilson Wilson Wil Wil- son Metal works works- R. R J J. J Twiggs assistant assistant as as- superintendent of ot the post postoffice postoffice postoffice office C. C W. W Clogston manager of ot th the Ralph Cloninger company and and others All AH of ot the men mentioned are are heavily Interested financially having haying hav hay havI I ing taken over the property and all alII mineral rights under and outright purchase from Crom an an English syndicate The property was originally owned by an English company Incorporated incorporate ed for tor pounds This company com corn pany on the reports of t four minIng mining min mm- ing I engineers and tin tm experts of ot wide reputation began extensive de development do- do at a time timo when tin was 20 cents a pound and had actually taken out and marketed about pounds of ot tin bullion In a littlemore little littlemore littlemore more than 1000 feet of at development when hen when the the panic of ot 1893 1693 struck the c cOuntry The company was financed partly by time short-time deb debenture bonds which fell tell due Barring Brothers' Brothers bank in London failed and the bondholders foreclosed The Tte mine was closed so suddenly the cages were left in the bottom of or orthe the shaft and the pumps in the sump From that day on the mine had been idle It developed that the bondholders were financially interested In the Cornish tin mines which which- would have a big competitor tor In the California property They refused to sell it saying they were were holding it as a tin reserve Since then a new generation has come ton tm and the property became valuable as real estate A Los Angeles company company com corn pany was engaged to parcel the 45 acre tract off as real estate and several million dolla dollars s1 s' s worth has been beeh sold The Utah and California Califor Califor- nm nia men acquired that portion of the property on which the mine and tin Un veins are located The reports of ot the new company's engineers show that the He n lIsh company did little more than scratch the surface The engineers rs report seven tin Un veins running into the side of ot a hill averaging six feet in width and ad being within a a. distance of ot 1000 feet from the present mine opening The tin property is kno known n as the tin district and the mine is known as the tin mine nUne The new company is incorporated under ho name of ot the United States State Tin company for shares The company plans the Immediate Immedi Immedi- ate rehabilitation of the property which is in splendid state of ot preservation preservation due to the thoroughness or orthe orthe orthe the English company which put Jn fn cut granite foundations under the mill and smelter smelt r and walled wE up the portal of ot the adit tunnel with the same material Tin at the present time Is selling at upwards of ot 60 cents a pound which h promises large returns to the company on a 20 per cent ore n the engineers say the company has It is pointed out the ore ore is easily handled on the property and that California alone is' is using worth of tin Un a year while the United United United Unit Unit- ed States uses about 75 per cent centi orthe of or the worlds world's supply and does not produce a pound The engineers figure a profit of about a ton for the company They compare the project t to the the Utah Copper company company com corn pany which operates on ona a low-grade low ore of ot about 2 p per r cent with coppet coppet cop- cop pet pet- at 14 cents a pound The tin veins are said to crop out on the surface over a a a. large area at one point for more th tWin than n feet The company has acquired all of the original reports of ot the English company compan made by Captain Charles Craze one of the foremost tin experts ex ox- in England Colonel E. E N. N Robinson of t Los Angeles Pro Professor lessor Henry Mathey of ot San Francisco ana anu George Grant Francis widely known English mining engineer pronouncing the property one of the most valuable in hi the world orld and have recently had tad James J. J Cude now president of the new company compan and M. M B. B Parker widely known mining engineer on the west coast coast- report on tha the property Th The United States Tin company expects to h have ve rehabilitation work under w wa way Y within a short time |