| Show CHIEF CONS ANNUAL president walter fitch of the chief consolidated soli dated mining company operating a big shipper in the tintic gintic district utah has submitted the tenth annual report of the com banys operations covering 1918 the following figures are given the total shipments of ore amounted to tons dry yielding after smelting smelling sm elting transportation and sampling charges 1869 the company paid during the year dividends of on february ath and may ath and on august 3rd ard and november alth paid dividends of one dividend of has been paid thia year february 1st ast the total development work done by the company including work in the mine is stated as drifts feet raises feet dinzes feet shaft feet total feet average gr gross oss value per ton of all ores excepting manganese smelting smelling sm elting freight and sampling per ton 1658 average net value per ton 2849 net profit after payment 0 of f all charges in the course of his report president fitch speaking in a general way of development work says the pumping installation was completed and put into operation in the second quarter of last year this made possible the following oi of the ore and the opening up of the mine below the permanent water level it is as because these ores have carried good silver values that the mine has been profitably operated under the adverse conditions existing this would not have been the case otherwise as smelting smelling sm elting freight and all operating in costs are now so high as to make it irn possible to mine any but the higher grades of ore it is therefore a matter of congratulation that all the work permitting the operation below the water was finished at such an opportune time the development in this area of the mine has been pushed to insure as much product as possible the results of the geological study and the underground explorations have convinced the management that there exists a parallel ore zone approximately feet east cast of the one in which the mine is being operated it was determined to sink a shaft at that point and develop that zone accordingly the work was started and the shaft so placed that railroad tracks could reach it both above and below on the mountainside these tracks have been partially completed and the shaft sunk feet the ground through which it passed proved to be particularly unstable and this has necessitated concreting this part of the work will pe be finished in march and sinking will then be resumed and carried down to the water level estimated to be at 2000 feet the companas comp anys ownership on that anticipated ore zone has more than twice the extent of that on the present zone therefore if a good mine can be established there it will add greatly to the life and results of the operation |
