Show CHIEF CONS QUARTERLY president walter fitch of the chief consolidated soli dated mining company operating extensive holdings in the tintic gintic district utah has issued the companas comp anys report covering operations of the quarter ending september 30 1918 it shows a pro ducting of dry tons of ore yielding after smelting smelling sm elting transportation and sampling charges the net profit was the company has a total dividend record to date of it has issued shares the presidents report says the earnings for this period show a reduction from the previous quarter resulting from from jower lower values contained in the ore shipped those in the latter period were exceptionally high and much higher smelting smelling sm elting and mining costs the latter largely increased by added amount of development work done and the costs connected with the sinking of no 2 shaft to this last named project reference was made in our last report superintendent cecil fitch reports that the net profit after the payment of all charges was and then gives the following tables average new york prices received for the metals gold per ounce 2067 silver per ounce lead lad per pound classified ore tonnage tons lead ore dry ore manganese ore total A general description lon of the operations for the quarter is as follows the development work was increased over that performed during the previous quarter and was only limited during the latter part of this quarter by bv the capacity of the shaft hoisting it consisted of six ex drifts seeking new ore channels on the 1800 and 1000 levels eighteen drifts and raises in the ore zones on the 1000 1200 1600 1800 and 1900 levels the extension of the 1800 ore system was found on the 1200 level the ore at this place is of high grade this system is now being worked from the 1200 to the 1850 levels the latter level under water is giving a large proportion of the mine tonnage the remainder of the mine tonnage is produced throughout the ore zone from the to the 1900 the smelter costs have advanced again and restrictions of tonnage of certain grades of ore continue no 2 shaft at this date is now down feet in porphyry it is anticipated it may continue in this material for at leat least 1500 feet the nature an and d difficulties associated socia ted with the maintien maintenance a nee of the shaft sunk in this rock makes it necessary to concrete it for the whole distance A large part of the expense in the way 0 of f accumulation of diate material ria I 1 in connection W with ith this work has already been incurred the development in the com banys ground has been continuously carried on during this quarter in the mineralized zone referred to in the previous reports the results are encourage encouraging i ng the diamond drilling on the surface was continued difficulties in drilling the porphyry are numerous but fair headway is being made |