| OCR Text |
Show THE CITIZEN 11111,1,1 land t. ;.'r J 1 1 """mmmmmmmmmm.m.mm.m,. Mine and Oil Review I I ish N going forward by leaps and bounds, who can over estimate the resources of the country west of the Rockies? ture s a i ?illllllllllllllllllllllllllllllllllllllllillllllllIHIIIIIIIIIIIIIIIIIIIUIIUIIIIIIIIIIIIIIIIIIu3 ll,llllUiiiiiiiiiiiiiiimiiiiiiiiiiiiiiiiiiiiiiiiiiMii"iiiiiiiiiii"ii"ii"iiiiiiii"iii"iiiii"iiiiiiiiiiiii""""iiH"ini"i""ii""ii"i""iiiim:iiii3 heyiLOVVLY also owns the American Star property in the same district from which no revenue- was received in 1921. Several other mines at Bingham are owned by the Bingham Mines, among them being the Dalton' & Lark, the Montana Bingham, the Yosemite, the Commercial and the Niagara. COMING BACK. 1 cid. trend toward larger use es. Ihe extension of uses of al cop-insta- nt decline in production 'fe 'economic events underly- prosperity of the whole more enterprising In- naisrs than those engaged c Brattons, and no more hope-lotlclass of workingmen employed in mines, ave both been taking hard tightening their belts to to meager diet, ha! ieved the better days are in tivtn the smoke will be rolling smelters. ning operations reviving the i:r the western states is more ag in fall lines. A BREAD 111 1 ing 'tax reports. various mining s, showing net proceeds for rear, are being filed with the rd of equalization in accord-th- e Utah taxation laws. The Mines company has reported I regarding the Eagle & Blue aria and other properties i parent company controls: SitCtoria mine of the former in Juab county, reported foceeds from its ores of The ore produced 2,059 gold,4 488,680. ounces of pounds of lead. Cost given as $148,918.63; and transportation $348,-.- d of new construction or Thus the total deduc-- e the of I ; sil-",464- 71 re-97.5- 6. leaving net Under the the mine is valued at three $500,1130.45, of $164,043.13. , s amount, or $492,131.49. In the mine will pay taxes on at L82 in machinery, improve- Ojfliipment, and on its real :ear the Victoria mine of $299,105.50, and - - rtpts $85,273. Blue Bell mine of the has physical property at $82,655, and from 26,554 7 ore produced 3,654 ounces 518,533 ounces of silver, 1,- kranda of lead and 2,235 f copper, yielding gross From this deduc-claime- totaling net proceeds of d, $518,880.71, $113,485.73, Assessed value on the ore in 0 of $340,487.19. Last year e had gross production of oftO to report from the previous rations, and paid taxes on innSbam. Mines company also Ivthe Tesora mine in the Tintic from which the sum of $1,-1- 8 received during 1921, being shipped by lessees. The net kwere $222.08. The company .ft"' AND BUTTER PROBLEMS FOR ALL. Taxes, labor and cost of material are the three things which will increase or decrease gold production. The price of gold is stationary and cannot be raised to meet changing cost of mining, hence gold output will increase only as production costs drop. Silver price fluctuates as other metals but at the present time the Pittman Act is saving American miners from ruinous losses. Copper, lead and zinc, however, depend on industrial activities for their ad-physiq- ue : t 11 consumption. Production costs play a vital part in placing these metals on the market at a price which encour- ages their use. Labor is taking its cut and material and transportation costs are dropping. Taxes are a drain on the resources of these mining properties and at present spell the difference between profit and loss and ability of mines to operate. Every westerner should back campaigns for tax reduction to more normal levels, as well as all production costs of mining and other basic western industries. Large mining properties are slowly and their future operation and employment of labor will depend on their ability to market their product at a profit. g WEST WILL RULE THE WORLD. The world consumption of oil has reached 700,000,000 barrels and experts say this will go to 1,000,000,000 barrels in five years. While other nations are struggling to corner the oil supplies of the world the fact remains that our country is producing 70 per cent of the total. Capital by the millions each month is searching for new oil wells in all the possible producing territory from Mexico to Alaska. The west also has 90 per cent of the energy of the potential hydro-electri- c world and capital is beginning to turn attention to that. The west has great riches in natural resources of timber, oil, mines, and undeveloped agricultural lands reaching into hundreds of millions. Who so blind he cannot see that the west is to have the future wealth and manufacturing power not only of our country, but of the world? With lumbering, paper mills, irrigation, power development, shipping, sugar factories, precious metals, potash, fisheries, fruit growing, and agricul One of the large social events was a bride tea given Tuesday afternoon by the Alumnae association of Rowland hall, assisted by members of the faculty. The entertainment was given at the hall for the benefit of the school. The committee on arrangements included Mrs. Robert R. Hampton, Mrs. David Keith, Miss Helen Sheets and Miss Helen Greenwood. The following made table reservations: Mrs. Russell Peter Harte, Mrs. Edgar L. Newhouse, Jr., Miss Margaret Walker, Miss Gertrude Thomas, Mrs. R. S. Allison, Mrs. Boyd T. Park, Miss Carrie Sappington, Mrs. Rowena Allison, Mrs. J. E. Galigher, Mrs. Chas. Tyng, Mrs. Ashby D. Cleveland, Mrs. J. T. Harris, Mrs. Fred-Dern- , Mrs. E. O. Howard, Mrs. Duncan McVichie, Mrs. Edgar F. Hills, Mrs. E. L. Sheets, Mrs. F. S. Bascom, Mrs. II. S. Cohn, Mrs. R. R. Hampton, Mrs. Walcott Thompson, Mrs. Will L. Ellerbecic, Mrs. Wiliam Story, Jr., Mrs. Joy H. Johnson, Mrs. Grant Hampton, Mrs. George Rose, Mrs. Senter F. Walker, Mrs. G. D. Keyser, Mrs. W. T. Gunter, Mrs. Herbert R. Macmillan, Mrs. Albert Fisher, Mrs. P. J. Moran, Mrs. Ira K. Humphries, Mrs. Tom Botterill, Mrs. P. D. Allison, Mrs. John M. Wallace, Mrs. Louis S. Cates, Mrs. Caus-teBrowne, Mrs. Horace H. Smith, Mrs. Raymond Reese, Mrs. O. P. Cher-droMrs. F. K. Cameron, Mrs. Mary Ramsdall, Mrs. A. L. Gibson, Mrs. Joseph McGath, Mrs. D. C. Muturin, Mrs. W. II. Chipman, Mrs. Ernest Gayford, Mrs. Srancis Goeltz, Mrs. Emma Moulton. pre-Lente- ISSUES COMPREHENSIVE REPORT COVERING 1921 OPERATIONS. MONTANA-BINGHA- M President H. H. Green states that notwithstanding the depression in the copper market the Bingham property made a very creditable showing, largely attributed to the fact that the fluxing quality of the ore made possible an' arrangement with the smelter whereby the mine was enabled to continue operations throughout the year. He explains that all costs of operation, including prospecting and developing, new construction and equipment were taken care of with the revenue received from copper ore sales, but that after writing off depletion, depreciation, issues ot treasury stock, and bond interest, a net deficit of $50,-805.5- 3 is shown. The report of General' Manager Imer Pett, covers all phases of the. mine operations. He states that the Fortuna mine is considered the most valuable of the companys possessions, and that, prior to the acquisition of the Fortuna mine by the Consolidated, its ore was transported through the Keystone tunnel and then hauled to Lark by wagon or by an electric tramway beThe longing to another company. tram was taken up in 1909 and subsequently the ore was hauled to either Midas switch on the high line of the Denver & Rio Grande railroad or to exLark. This added considerable pense and greatly limited the production which was confined to the higher Mon-tana-Bingha- m grade ores. Attention is called to the fact that the 1921 output is the maximum of shipping ore ever produced in any one year from the property, and represents about one third of its entire production. This was made possible by reason of the outlet afforded by the Montana-Binghatunnel, which, with the new . m. erected on the railroad near the portal of the tunnel in Bingham Canyon, gives a direct connection between the mine and railroad, and enabled us to take full advantage of the more favorable smelting rates on the low grade ores. The report shows that the mine pro- ore-bin- s duced in 1921, 416 carloads, or tons of ore, having a gross value 2 of $192,027.58, and a net value of after deducting costs of freight, smelting, sampling, and assaying. The metal contents of the ore were as follows: Gold, 1,354.941 ounces; silver, 1,581,857 ounces; copper, 42,869 pounds; lead, 21,402 pounds. The average assay of the copper ore was: Gold, .059 ounces; silver, 1.84 ounces; copper 3.43 per cent. A little lead ore was also shipped, which assayer: Gold, .045 ounces; silver, 6.2 ounces; copper, .7 per cent; lead, 15.8 per cent. 24,-525.- $140,-188.8- 68 n . n n, Members of the Short Story club were entertained Monday afternoon by Mrs. II. D. Hines at her home in the Cornell apartments. Tea was served at the conclusion of the program Childrens Stories and Verse was the theme of the afternoon. Original stories written by Marie Fowler and Virginia Fowler, young daughters of Mr. and Mrs. Ernest Fowler, and by Virginia Hosmer, small daughter of Dr. and Mrs. A. J. Hosmer, were read. Miss Linda Jessup read a paper on What Do Children Read? Miss Martha Andrew of Macon, Ga., guest of Mrs. George R. Horning, was guest of honor at a bridge party Tuesday night, given by Mr. and Mrs. Kean Miller on Eleventh East street. Mrs. A. E. Smith entertained at bridge tea during the afternoon In honor of Miss Andrew at her home on M street. Mrs. Alexander Jackson also gave a tea in compliment to Miss Andrew Monday afternoon at the Hotel Fifth East. Mrs. N. L. Klassen announced the engagement of her daughter, Ellen, to William J. McCarty of Sheridan, Mont., the first of the week. The wedding took place Tuesday morning at 8 oclock at the Cathedral of the Madeleine. The ceremony was performed i i: t c U y U t. |
