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Show Outside Capital Needed . " ' v - vf' - V V I , , W x ; lv " ; : ! Utah's greatest need today is the return of "outside capital" for the development of its vast store of undeveloped resources. Years ago "outside capital" took a hand in the development of the state's mineral resources and today the industry is the most important consumer of Utah grown and manufactured products. The entrance of outside capital Into the development of Utah mining min-ing had Its inception when the Haggin-Hearst interests of San Francisco, California, acquired control con-trol of the old Ontario claim at Park City, which gave mining in Utah the impetus that it needed at that time. Haggin and Hearst had heard of the ore discoveries that were being : made In Utah and after the discovery dis-covery of the famous Comstock Lode at Virginia City, Nevada, they sent a scout to Utah to see if another an-other Comstock was in the making here. The Comstock was discover ed in 1859, but it was several years after this that the man was sent to Utah. The scout was attracted to Park City by reports of ore discoveries In a shaft a few miles south and east of the present town of Park City. The shaft was being sunk on the Hawkeye claim in what is now called McHenry Canyon, and In addition to a good showing of ore a heavy flow of water had been developed. Riding horseback, the scout took the usual round about way to reach the workings. After a brief examination, exam-ination, he turned the prospect down on the theory that the water problem more than offset the ore showing at that depth, and addi- ' ' ' -- : I tional development would be too j expensive. J - ! Returning to Park City, then Just ; a small farm community, the scout j took a shortcut over the mountain, i When he reached the summit of Ontario Ridge, he saw four men trenching near a Juniper tree. He dismounted, examined the prospect and took an option on the claims. ! His option was for 30 days and ! called for the- payment of $30,000. ' Before the 30 days were up Haggin and Hearst had purchased the I claims for $27,500. This included j the old Ontario claim, No. 37, the I first filed in the Park City district, i This was the beginning of a ' great mining venture. Outside capital was brought in for develop- ! ment and the Ontario yielded $15.- j 000,000 in ores which went to bus- ; iness and industrial channels of ; Utah as well as launching Haggin and Hearst upon a successful mining min-ing venture in Utah. j Others were attracted immediately immedi-ately to the Park City region and j outside capital began to scour the I state for other Ontarios! John j J. Daly went east and financed the Daly Judge and Daly West, old producers in the Park City district. Then the Silver King Coalition was developed. Nothing begets success more than ; success. Other camps were brought to the forfront including Bingham, Tintic, Alta, Frisco in Beaver county coun-ty and others. Along about 1895 Jackling and his associates began to figure on the Utah Copper and in 1904 the foundation for the state's greatest single industrial enterprise was land when Colonel Jackling went east and financed the ; Bingham project. I j |