| Show N NAME Mf IS N NOW W WT T L LUM USI Stockholders of the Bingham Centennial Met Toda and Authorized Change BINGHAM MINE MIME IS ABANDONED And nd Operations of Company Transfer Transferred red to AHa Directors and Officers Chosen The stockholders of ot the Centennial mat met In regular annual ses ace session sion slon today and anti elected a now nol board of at directors At the he conclusion of ot this meeting a special session cession was sae held at which n II change In the name namo of at the cor corporation was wan authorized Hereafter It will bear boar tho the title of at the South Colum Columbus Columbus bus Mining company with tho the capital stock remaining unchanged l This action was as taken for tor th the Iho reason that during the year ar the company transferred d Its lis operation from to Alta and Is now non no working n a group of or claims adjoining the tho Columbus Consol Consolidated ConsolIdated In III his report to the tho stockholders Manager J 5 A Jacobson gave gae a com corn comprehensive account of a events leading up tip to the transfer from to Alto Alta He lie says sas From rom the time tune of at starting work on the property up UI to about aboul Oct 1 I IMS 1003 l OJ when the operations at nt this point were rere discontinued d I 1 drove the tho main tunnel ahead OO feet teet and did ulel about abou I O feet teet or of crosscutting on stringers that nt at a times showed some ore which looked encouraging At one ono or two Places place 1110 M we wO encountered red some Homo very ry good goed milling ore oro and at these places I put Iut upraises to n it distance ot or about 70 feet teet with the tho hope of ot striking some ort ore of ot sufficiently high bight value to Justify shipping Unfortunately elicit nuch elicita n a grade of or ore was not met tact with antI and antII 1 I abandoned 1 the lower tunnel and started to work In the tho upper tunnel where I did about feet of at drifting and crosscutting In the tho upper work workIngs lags Ings some small pockets of ot shipping ore oro were encountered which encouraged me meto meto meto to believe that wo tue 10 were nearing a IL large larga deposit of ot high grade gradl ore Further urther l de do developments however proved that the Indications were wera misleading These several disappointments to with the fact that a II payment on the bond and lease I of or the property was soon hUe due du so 80 discouraged me inc that I recommended to the tho directors of ot the company that all nil tho the work should be stopped unless nn an extension of time could be hail had on the tho payments duo due on the bond and lease leaM The Tho directors coin elded chieti with my views and authorized me meto meto meto to endeavor to make more rous COUll terms with Mr Lashbrook from whom the tho bond and oud lease Ivits secured After ACter several conferences that gentle gentleman gentleman gentleman man advIser advised mo me that he lie could not and anti would not make LilY any extension of at pay Ilay payments ments men ts tsIn In the meantime I had been beell looking over oer properties In Iii thu th Alta Alia camp and ant had hull taken nn fl option olIon on some somo well lo 10 located locater cater claims with the Intention of ot turn turnIng turnIng Ing lag over oer these claims to the tho Centennial company The move moc met the approval of ot the directors of ot your company and anti later Inter when Mr Lash Luh Lashbrook LashbrOOk brook concluded to make the tho extensions of payment nt on his bond and lease your our directors decided that It would be bo for tor the best Interests of ot the tho company to abandon the proposition entirely anti transfer opera lions to the Alta Alia camp campOn campOn On my recommendation the board of or directors authorized me to negotiate for the purchase of the time Winner claims Von NOR 1 to 6 Inclusive I r and find these theRe claims are me owned outright also a IL Interest was all purchased In III the Soft Boft Copper ant and Corba claims Nos 1 2 and a years carlI option vai M securer secured on the time remaining two thirds Interest I consider this one 01 of ot the tho ho most promising prospects In the tho camp In tIme the early days a n considerable amount of ot high grade ore oro had been sloped Moped out above aboe the tho old tunnel and Is said Haiti to good have hove returns brought the owners owner anti and lessors On my recommendation work has been started In n a lower tunnel with the Idea of at tipping tho the ore oro or bodies under the tho old workings where the tho vein eln ap op appears pears leare to go RO down good strong To title this I estimate that the tho tunnel will wil have hao to tobo ho bo driven n ItO 10 feet teet which should give ghe a depth under tinder the tl old slopes of ot COO GO feet I am of ot the time opinion that wo we will wi strike ono cab or more veins before wo we get tet under tinder the old oll works work anti and would advIse that this tunnel bo ho pushed as O fast tast ns tie 18 possible ble If I this rail can be bo done I 1 predict that wo wu will wil I li be whipping shIppIng ore oro by b tho the middle of ot next summer lummer Tho Time board bond of directors chosen to serve sene tho the new neI South Houth Columbus consists of ot Tony TOllY Jacobson J A Jacobson Waiter U J 1 Stone Mann W V I n H Dougall Dougal and II 11 I H 5 Tanner The Time first throe three named ar are president pe vice Ice president secretary ant treasurer respectively |
