Show chief cons acquires eureka hill the eureka hill company has gone the way of the grand central t f the gemini the hidge ridge valley eu EL reka mines and nearly a score of 4 other local mines which Is one way 4 of baying saying that the old time producer has passed into the hands of the e chief consolidated people ar lp on wednesday the deal which gave the chief company the manage ment and control of the eureka hill was closed at that time tour four rep of the chief were elected to places on the board of the eureka hill which la is due of t tie ae oldest mining corporations of utah organized at a time when million share hare corporations were unheard of this company has but 10 shares issued with a very modest par value and an exceptionally brilliant divi bend record the eureka hill arouni having carried a liberal portion oi 04 tintic s old original ore channel oa oli which are located such mines as t th gemini bullion beck beek and centennial eureka even in recent ears this company has been a dividend payer an an a small way but principally because of the fact that it owns valuable f water rights at Ho mansville an and a system which supplies the city 0 of eureka and many of the dast district acts s mines this water system bopa gopa t tn to the chief along with other holding 0 ing g of the company in there are but a ver w places where high grade ore cropper cropped to the surface one of these places as the ridge just above the oil eureka hill shaft and old timers ot of tintic gintic tell us that the rich character of this mine mines s first ore resulted in a pitched battle being fought before the ownership of the ground was finally determined since the dismantling of the hoisting plant several years ago which followed the closing of the mine and the large stamp mill the operations in the eureka hill have bay been carried out in a rather de fashion by lessees wa alo 0 operated in close proximity to thi th surface or through adjoining minea acquisition of the eureka hill gives the chief cons company a solid block ol 01 ground in the vicinity of their main workings the newly acquired property was worked at a time when mining was handled in an entirely different manner than at present when attention was center ed on the larger deposits of rich ore and in the effort to get a heavy tonnage the stringers and leads which quite often point to valuable ore deposits were passed up or given but slight consideration it was much the same with all oatho b ear y day mining because at tt that hat time operations were cyriel carried on without the thorough knowledge of the bus bust ness that now exists operators had no past history on which to base their calculations and little or no geological geologic at information this first phase of mining has a al ways been followed by a more inte sive and better develop e euy r system stem such a system has beel forked corked orl out by the chief cons peo le 1 who long ago realized that ii I i tint there are a number of dit dif terent ferent ore channels from a very limited arct on some of these chan nels the older mines took many mil lions of dollars worth of ore and it is only reasonable to suppose th t under the newer and more sive system of mining directed by such an organization as the founder of the chief consolidated company has succeeded in building up a much larger amount of ore will be found this organization has also demons demong grated its ability to successfully mine below the water level of the district and the eureka hill like the gemini and other mines presents good possibilities for deep mining in future operations of deep mining is sure to play a most im part not do the lieve in a much more penetrating system of mining but they have worked out a plan whereby cm em are given the proper stimulus a division of the winnings winning which makes tor for greater efficiency attracts the best miners and gives them the necessary incentive bequir ed tor for proper individual effort while the chief cons people feel that their system of mining if tol fol lowed out with perseverance should lead to the opening of new and profitable ore deposits they realize that in L attempting to rejuvenate these old time mines of they are undertaking a proposition which calls for great expense but it if thirty odd millions have been won from tho the small area to which s earlier mining was confined even more can call be hoped tor for by extending the scope of operations to a vastly wider area the deal which has just been closed is pleasing to tintic gintic people who cannot help but realize that ex development work is I 1 it the present period of prosperity Is to be made permanent |