Show CONSOLIDATION I OF 11 Lehi Tintic T Takes kes Over Tintic Empire on 8 to 10 Stock Basis Consolidation of the Lehi and Tintic Empire Empire- Mining c com companies jn which own adjoining properties prop prop- in the tho North Tintic Tintie district was officially effected afternoon Under the plan approved by tUft tiie stockholders of the respective concerns con con- corns cerns Tintic Empire stock is exChangeable ex ex exchangeable changeable on a basis of ten shares for eight shares of Lehi Tintic Capitalization of the latter concern has been creased i.-creased from to shares of 1 par The Tintic Empire has an authorized and outstanding capitalization of shares at 10 cents par par- The exchange of stock will increase Lehi Tintic outstanding stock to 2000 shares leaving new shares in the tho treasury It is understood that negotiations negotiations' have been concluded on mi a part of this stock insuring development o othe of the combined property at greater depth with a view to opening the downward extensions of the ore re recently exposed The program work for the immediate future includes in- in clues the sinking of the main shaft from the to the 1100 level Work in iii tho Lehi Tintic at thiS tho present time is from a feet below the foot level A A. drift Is be being be belag lag ing run into Tintic Empire ground from the foot level In taking over the Tintic Empire the Lehi Tintic followed the th suggestion sug suggestion of its mining engineer K 11 M. M Crocker In his letter to the di directors dl- dl rectors of the companies Mr Crocker Crock Crock- er in part said In view of the fact that the Tintic Tintie Tin Tin- tie tic Empire property can be most economically developed at depth from the Lehi Tintic shaft and be beCause because be- be cause of the complicated geologic structure and surface conflicts I I consider that it is imperative that the boards of directors of these re respective ye- ye companies arrive at a consolidation consolidation con con- of these two properties immediately to avoid conflicts and ani misunderstandings and unnecessary legal costs or expense which would be attached if a dispute as to apex rights should be brought up This should be done now in th the early development of the ore bodies of these properties In the future development of the consolidated Lehi Tintic properties Mr Crocker will be associated with Guy W. W Crane consulting geologist of tIle the Chief Consolidated Mining Mining- company which has vast property holdings in the Tintic district Mr Crane has been identified with the Title Tintic district operations for many years and his retention by the Lehi Tintic Tintie management will give to it his knowledge of the ore deposits of the area |