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Show OHIO COPPER PROJECT JIMAHEflDJMTHER-HEINZE JIMAHEflDJMTHER-HEINZE BUYS OR NOT The richest disclosure in the Ohio Copper Cop-per company's property at Bingham, of chalcopyrlte and other high-grade characteristics, char-acteristics, In' addition to the very satisfactory satis-factory developments in all the ' later workings, rather encourage the belief that the present management is not caring car-ing whether or not F. August Helnse takes up the option he is said to have on the majority block of stock. Today the mfhe appears in the most picturesque light it has ever presented, reflecting especially the oft-repeated assertion as-sertion that mining in the established districts of Utah is purely a business proposition, almost shorn of risks and standing substantially on as firm and assuring as-suring a basis for capital as the grocery or dry goods business. Reward for Investment. A few sagacious business men in the past have recognized this fact, and therefore there-fore have earned exceedingly high rewards re-wards for their investments throughout the State, but none stand out more conspicuously con-spicuously at this particular time than the experience of the Messrs. Catrow, principal owners in the Ohio Copper company. When they acquired the property about three years ago on the basis of about $225000, it bad been turned down by several sev-eral very astute and otherwise shrewd investors and operators of large mining enterprises. Among these were the Gug-genheims, Gug-genheims, and previously there had been innumerable efforts made by dozens of promoters to place the group of claims under the administration of financial Influences In-fluences strong enough to carry forward the comprehensive and costly, development develop-ment which it was recognized was needed to bring forth the ore values. , Salt Lakers In Interest. In the ultimate sale to the Catrows, furthermore, it is a matter of considerable considera-ble interest now to know that about 100,-000 100,-000 shares of the stock was apportioned to several Salt Lakers, and that some of these sold the stock - in small bunches from time to time at 25 cents per share. This same stock Is now the block that plays Its part in considerable local trading trad-ing at prices ranging between $1.75 and $2. Just what the stock is worth nobody professes to know. There is none for sale, even at $2. which the Catrows are said to have offered themselves because they believe it is an extraordinarily promising asset as an Investment for future long continued and very large dividends; but nobody needs these few shares particularly for the purpose of intrenching their position in the control of the corporation, or for any other particular par-ticular purpose except for their dividend-earning dividend-earning capacity, and hence no strenuous strenu-ous effort Is being made to acquire them. Anomalous Position. Nevertheless, Ohio Copper ahares occupy oc-cupy a peculiarly anomaloua position In the world of Utah mining Investments, and again are subjects for probably a higher estimation than any of the Utahs that are unlisted anywhere. It is conceded con-ceded that they are not only valuable for their epeculatjve features but as Investments, Invest-ments, and it Is altogether probable that If any large amount of this stock was floating and was listed on the exchanges It would form the basis of one of the most exciting periods of speculation that Utah has ever experienced. This would be basd on three conditions, condi-tions, one being the showings that are now made of not only high-grade ores but Indications of yet higher value below, be-low, and (socoadj. in the enormoua re- a serves of "ordinary" Bingham ores that are disclosed, assuring ample yield for many years to come In both qualities, and (third) the possibility or probability of the holdings of the company going to Helnze and into his contemplated gigantic gigan-tic Americas Copper company. Don't Care to SelL Henry Catrow, secretary-treasurer, admitted ad-mitted that the present management and owners are not caring whether Helnze exercises the option he Is said to have on the control, but at the same time the Catrows have never publicly announced that Helnze really has an option to buy. He was asked whether the new deep shaft for which preparations are now being be-ing made is the project that Helnze was to father for his own satisfaction of the prospective values in the Ohio's territory, terri-tory, and Mr. Catrow as quickly parried the question that "whether it. is or not, we are going ahead and doing the work." "We are satisfied," continued Mr. Catrow, Ca-trow, "that we have the ore resources in our ground, and are going ahead and develop de-velop them. The only trouble we have experienced was in having so much ore that we did not know what to do with it, and the only course was to provide means for treating it." Booked for a Rise. Therefore. If Helnze buys .the property it will be good; the floating stock Is expected ex-pected to advance to a much higher figure fig-ure than attains now, and, on the other hand. If Helnze does not buy the control, con-trol, the Ohio is nevertheless admittedly booked to rise vastly in value as soon as the new deep shaft is down and the contemplated 1000-ton mill is in operation. opera-tion. It was for the building of this mill that the company's stockholders last week authorized a $650,000 bond issue, but a part of which will be required to accomplish the Improvements now Just starting. A purchaser is said to have been found for these bonds before they were decided on, so highly is the mine valued by the investing public familiar with its possibilities for earnings in tb future. Big Things Expected. It would seem, however, that little expectation ex-pectation is entertained by the management manage-ment of Helnze taking over the control, if he ever had an option thereon, and that the Catrows intend to erect in Bingham the most gigantic copper mine in the State held by a few people. For the . support of this idea they estimate now ' on having over 1,000,000 tons of ore in sight, and this means that the ore that can be depended upon for revenues aggregates ag-gregates in value $3,000,000. with copper at no higher price than 12 cents, which is less than two-thirds what the price is at this time; and estimating the ore availa- 1 ble for treatment at IS cents the value i of the same Is $12,000,000. In only about three years the Catrows have, therefore, brought the value of an asset estimated to be worth when they took It but $225,000 up to this Midas-like Midas-like figure, which is so large that the ordinary mortal cannot even contemplate it. . Sagacious Management. It atands out conspicuously as an example ex-ample of Utah's mining possibilities for business men. Their previous mining experience ex-perience had not been large evidently they have proven their capacity for grasping opportunity when It came, and merely applied their own money and good business methods to the mining Industry and had the sagacity to surround themselves them-selves with the skill and experience of ksuca good sen as Thomas Wsir ad A. 1. . m - Settles of Salt Lake, to whose ability it la freely conceded much of the technical and practical experience needed in the development operations was successfully i itxsrud, : . j . . |