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Show U. S. SMELTING RE- I FINING & MINING I COINCREASES 1 HOLDINGS HERE I Acquire Bingham Mines Co. I Property. . I A deal consumated last week, I in which the United States Smelt- f ing and Refining Company qquir- I ed the holdings of Tiie Bingham I Mines Company, is one of more 1 than passing interest here.In the I same transaction in which rat if i- 1 cotion is expected today the hold- I ings of the Bingham Mines Com- pany in the Tintic District are in- eluded. These are the Eagle and f Bluebell, The Victoria - and The American Star. Stockholders of The Bingham s Mines Company are to receive I 50,000 shares of U.S. stock in pay. '; ment for their present " holdings .- it is underst'od.At the present f approximate value of $55.00 per J share of the United States Mining t Smelting and Refinings Co's stock I the deal may be said to involve 1 nearly three million dollars.; i The acquisition of the Bingham f Mines Co. property will afford a large acreage of expansion for f- the United States Company and ; ji give them access to their present property at great depth through the Mascot tunnel.This tunnel I penetrates the mountain 15000 ft I and would tap the main shaft of - the U.S. at. a depth of nearly 2000 feet, affording both transpota-V transpota-V tion facility and drainage m from the mine and supplying water for : treatment of lowgrade ore at j Lark. Both these mines have been large and regular dividend pay- i :t ers for a long time and with the I - economies of a single management ! these should be increased. |