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United States Mining Co. - Mining Stock Certificate

Inv# MS1061   Stock
United States Mining Co. - Mining Stock Certificate
State(s): Maine
Years: 1899-1910
Color: Purple

Superb engraved graphics. Very nice of mining scene and another of female and eagle. Great elaborate title. Exceptional!!!

NEW YORK BINGHAM MINING CO. UTAH Acquired property and assets of New Utah Bingham Mining Co. Office of treasurer: H. A. Bellows, Suite 711, No. 53 Park- Row, New York City. Mine office: Bingham Canyon, Utah. Officers: T. B. Beacher, pres.; H. A. Bellows, treas.: R, L. Reisch, sec.: with P. T. Bi-llows. 1. W. Thompson, E. S. Hums and H. F. Hoevel. director^ Inc. Nov. 19. 1918. Cap., $200,000; shares 20c. par; 73,648 shares outstanding, March, 1920. Bonds: of old company outstanding when property was taken over. $14.000. Stock was exchanged share for share. Annual meeting, November 17. Property: 20 claims, 19 patented. 130 acres adjoining the Telegraph of the United States Mining Co.. in Bingham Canyon, Utah.

Claims cover about 3,000' along the footwall portion of the Jordan limestone ore-bearing zone of Bingham. The large orebodies of this district are found in fissures within th- limestone, or along limestone contacts, and the Jordan belt is the most productive of the 3 belts known in the camp; 16 fissure veins have been opened. Before the company acquired the property a number of promising veins carrying ore in the porphyry, but too narrow to be valuable, had been exposed. These veins pass into the limestone and are expected to have large orebodies at the contact. Ore is mainly silver-lead. Development: consists of about 15.000' of work, mainly by 3 tunnels. In the Turngren tunnel, over 1,300' long, 8 veins from 1 to 4' thick have been cut, 7 showing ore and 2 of them worked.

These two veins run north, are parallel and contain high-grade ore in the Spanish mine and along the outcrop in the company's ground. The Harrison tunnel, 600' long, is in quartzite and will crosscut the Rough and Ready veins, which are opened by 3 other tunnels higher NIAGARA—OHIO COPPER 1417 up the mountain, all showing ore. Work on these veins has been discontinued and all work concentrated on the Giant Chief. The Giant Chief vein is a fault fissure, developed by a 200' shaft from which further exploration is being conducted on the ISO' level; 600' of drifts and crosscuts driven in 1915 from this point have at 800' depth in the sulphide zone cut 7 fissures encountered in the higher workings.

These veins carry oxidized mineral matter, surrounded by a soft lime, and show porphyry mineralized with iron pyrites. A small vein of carbonate ore, running nearly 50% lead, has been opened; the Bonanza tunnel was driven 977' along the Giant Chief vein, and across it to reach the ore, 150' deeper than where first opened. Equipment: includes compressor. 180-h. p. electric plant, taking current from the Utah Power & Light Co., hoist and all necessary buildings. Production: several cars of ore reported to have been shipped during the past 2 years, running from 6 to 12 oz. silver, and 20 to 38% lead. Lessees are working the lower tunnels. Property is well adapted for tunnel work, has large blocks of virgin ground and is considered promising. Company is an intermittent producer.

Bingham Canyon was a city formerly located in southwestern Salt Lake County, Utah, United States, in a narrow canyon on the eastern face of the Oquirrh Mountains. The Bingham Canyon area boomed during the first years of the twentieth century, as rich copper deposits in the canyon began to be developed, and at its peak the city had approximately 15,000 residents. The success of the local mines eventually proved to be the town's undoing, however: by the mid-twentieth century, the huge open-pit Bingham Canyon Mine began encroaching on the land of the community, causing residents to relocate. By the 1970s, almost the entirety of the town had been devoured by the mine, and the few remaining residents voted to disincorporate and abandon the community. No trace of Bingham Canyon remains today.

The geographic feature known as Bingham Canyon received its name from the location's two first settlers, the brothers Thomas and Sanford Bingham, who arrived in the canyon in 1848. Initially, the area was utilized for livestock grazing and logging, but the region's economic focus changed with the 1863 discovery of rich gold and silver ore bodies in the canyon. Mining activity in Bingham Canyon boomed after the Bingham Canyon and Camp Floyd Rail Road completed a line to the canyon in 1873, and as the region grew the focus shifted to the high-quality copper ores in the district. As the mines grew, the town of Bingham also expanded, spreading along the narrow and steep canyon floor below the mines.

The Bingham Canyon mines experienced their greatest boom during the first years of the twentieth century, as the district's smaller mines were consolidated under large corporate ownership. The most significant development occurred in 1903, when Daniel C. Jackling organized the Utah Copper Company to begin surface mining at Bingham Canyon. The Utah Copper Company's mine prospered, and this brought a tremendous influx of new residents into the canyon. The town of Bingham Canyon was officially incorporated on February 29, 1904. By the 1920s, the city of Bingham Canyon was at its peak, with perhaps 15,000 inhabitants. Urban development spread for some seven miles along the single, narrow road winding up the steep canyon floor.

As with many western mining towns, the Bingham Canyon area evolved into a collection of diverse neighborhoods, many with pronounced ethnic affiliations. Many Scandinavians lived in the Carr Fork area, while southern and eastern Europeans congregated in Highland Boy, which was in another branch canyon toward the top of the main city. As the mainstreet in the bottom of the canyon grew, Copperfield became the name of the upper section of the main town. Bingham itself attracted British, French, Irish, Puerto Rican, Mexican, and other immigrants and ethnicities. Numerous other small neighborhoods and communities also existed. Most took the name of the mine where they were located. Commercial, Boston Con, and "the Niagara" were the first three communities to be mined away or covered, as the last one was by Galena Gulch waste dumps. Others were the Galena, Old Jordan, and Silver Shield (these three found in Galena Gulch), along with Niagara. Telegraph was in the upper part of the canyon, along with Copperfield, which was threatened when the mining excavating was expanded and a long one-way tunnel was built before 1940 to allow traffic to reach the upper communities. Many names were colorful: Terrace Heights, Dinkeyville, Jap Camp, and Greek camp were sections of Copperfield. The Frisco, Yampa, Phoenix, and Apex were in Carr Fork along with Highland Boy. Further down the canyon were Markham, Freeman, and Frog Town (lower Bingham).

The size and importance of the Bingham community began to fade as early as the 1920s. The canyon's difficult geography made urban development difficult, while exposing the town to the hazards of fire and avalanche. The first effort to reduce settlement in the canyon came in 1926, when Utah Copper established the town of Copperton on the flats east of the canyon mouth. This was a lovely community with many copper products used in the building of the houses, and the low rent encouraged company employees to live there. In 1956, Kennecott sold the homes to employees for $4,800 to $6,000. Increasing mechanization at the mine also reduced local employment—and hence, Bingham Canyon's population.

By the 1930s it was becoming apparent that the most significant threat to the town of Bingham was the mine itself, whose ever-expanding open pit began encroaching on lands formerly occupied by miners' neighborhoods. The mine continued to eat away at Bingham throughout the middle years of the twentieth century, and by 1971 little of the town remained. That November, Bingham Canyon's 31 remaining residents voted 11–2 to disincorporate the town, and the last buildings at Bingham were razed in 1972. Today, most of the land once occupied by Bingham has been consumed by the Bingham Canyon Mine.

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A stock certificate is issued by businesses, usually companies. A stock is part of the permanent finance of a business. Normally, they are never repaid, and the investor can recover his/her money only by selling to another investor. Most stocks, or also called shares, earn dividends, at the business's discretion, depending on how well it has traded. A stockholder or shareholder is a part-owner of the business that issued the stock certificates.

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