OCR Text |
Show IT. S. people aro there with tho , money. Recently they took over one of tho bent properties In American Fork, I and now comes the Information from I Idaho that they have bonded one property up there for over a million I dollars. Speaking of this deal, the Taker City Herald sayB: H. C. WIlmoL manager of tho Rainbow mine, In Mormon bnain, was ' in the city Saturday consulting with D. W. French, one of the directors of tho Commercial Mining company, i which owns the mine, and that even- Ing It was announced that the mine had been bonded for $1,050,000 to the United States Smelting, Refining & Mining company of Salt Lake and noston. This Is tho richest mining min-ing company In the world and the fact that they have taken a bond on the Rainbow Indicates the property is very valuable. 1 Under tho conditions of the bond, i the company giving the bond has four months In which to make an examination ex-amination of the property, and If the examination is satisfactory and they desire to take over tho mine at that time, a cash payment of 250,000 will be made. j The Rainbow Is now droppino nineteen nine-teen stamps on high-grade ore, and a large amount of gold is loing taken out each month. It Is said that there. Is more than a million In gold ore Iq sight at the present time. . The mine Is controlled by the Com- j merclal Mining company, of which i Charles Ransom of Portland is president, presi-dent, and W. F.. King, who is well ! known In Hakor, is managing dlrec- i tor. T. W. French of this city is one ! of the directors and stockholders. SMELTER PEOPLE ARE BONDING MINES Quietly and methodically the -United States people are pushing out into tho various mining camps where ores nccesdary to their smelters may bo round and taking leases on properties prop-erties with a view to working them in the Interests of their great plants. II is understood that they have men watching every camp of importance, and when something looks good the |