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Show I UTAH COPPER IS WORLD'S MOST FAMOUS PRODUCER Year Has Marked Big Increase in Daily Output; Other Properties Get Gratifying Results; High Metal Prices Give Encouragement. II 1 INGHAM, Utah, one of the great.- I L est copper, gold aud silver camps I I J of tho world, has closed a ro- I markablc your, remarkablo by I utile of scvoral factors, tho chief of I which is the enormous quantity of ore I handled by tho various companies opcr- I atiug there. I There is a company at Bingham, the I United States, which is handling about L :500.00l) tons of oro annually, a pro- eedure which would stamp this company I as one of tho greatest in the west were I It not for tho performances of one of I its neighbors, the Utah Copper com- any. The. Utah Copper is tho largest I individual copper producer in the world, I and tho fact that Ibis one compauy handles about 20,000 tons of copper ore I dail.v constitutes it one of the chiof i mining attractions of the copper world. I Utah Copper Mine. I During the third quarter of 1012, the I Utah Copper company treated a total of ! l.o$l,i527 tons of copper oro at its two gigantic concentrating plants at Gar- field- against 1,503.SS1 tons for tho sec- oiid quarter of the year. Tho value of I this oro was 1.1 1 per cent copper, or ess than thirl' pounds of metallic cop- 5 per to the ton ot ore, tho companj- pro- 3 during 29.96U.920 pounds of copper at a cost per pouud of 7.707 cents, Tho to- f tal net earnings for tho third quarter 5 of S2.02G.-1G9.7-J )ormittcd the payment I of the dhidend for tho quarter of 75 i font? a share, amounting to $1,182,- f 112.")0. ami left a not gain for tho three months to the surplus account of $1,-744.057.24. $1,-744.057.24. For the first ten months of 3912 the Utah Coppor company produced a total to-tal of 85,397,300 pounds of copper against a total of 99,456,225 pounds for 19U, and S9,127,250 pounds for all of 10.10. The year J912. therefore, will prove the largest copper year for not only this company, but for the stato of Utah as well, as this company's output naturally establishes the prestige of the state among coppor producing commonwealths. common-wealths. Throughout 1911, as shown by the United States geological survey, the Bingham district produced 125,500,000 pounds of copper, of which, as shown above, this ono company wis responsible responsi-ble for nearly 100,000,000 pounds. Such a producer Is naturally tremendously benefited by tho steady advance in the price of copper from the point of 12 to 17 cents per pound, witnessed during dur-ing tho last of 3911 and tho end of 1012: Pioneer Porphyries. It is by utilizing the low-grade por-phyr' por-phyr' copper ores of Bingham, of which thoro is a veritable mountain giving supplies for a century or more for this oompany, that tho Utcih Copper company com-pany has reached its splendid prestige as a producer and dividend payer, and it is its success which first attracted the nttention of the financinl world to tho possibilities of the porphyry clasg of copper mining, giving rise to subsequent subse-quent successes like the Novada Con- Bingham, Utah, where are located the worlcTs largest copper mines. "f8 solidated, Miami, Ra' Consolidated, Chino, Inspiration and, ma,ny others. .It was the Utah Copper company, in charge of Utah mining engineers, that was tho pioneer to blaze tho. porphyry trail for the world's capital, and' this is now the most spectacular as woll as. remunerative branches of tho copper-producing copper-producing industry. It -was this, low-grade, copper. oivc, .by the way, which in the early days occasioned occa-sioned tho almost comploto abandonment, abandon-ment, of tho Bingham district. Bingham Bing-ham iu tho carl- days was a' producer of gold, silver aud lead, and when work at depth brought this, underlying, copper-bearing formation to view there was no known process for treating the enormous tonnage, and practically all tho operators lott for other lields. Bingham Bing-ham still is a heavy 'producer of gold, silver and lead ores, but its modorn famo is built iipon its porphyry resources. re-sources. Tho operations of the. Utah Copper compan3" are unusual in" .Ho " 'copper world, consisting of mining by steam shovels, of which there are twenty or moro continuallj' in use. demanding the company's own railroad lino and railroad rail-road equipment and enormous concentrating concen-trating plnnts tor separating the copper cop-per content from tho worthless gangue. At Garfield the company has. two such plants, the Magna, wIiofo daily capacity capac-ity is 12,000 tons of ore, and tho Arthur, Ar-thur, with a daily capacity of S000 tons. Hero the oro is reduced to a concentrate, concen-trate, which product is transported to tho Garfield smelting plant nearby for reduction. Utah is proud of thc.distinction given it. by tho operations of the Utah Copper Cop-per 'company, and Bingham as a conse-quenco conse-quenco 26 oW of tho. principal, tourist contors of the state, Utah Consolidated. Tho next largest copper producer ofj Bingham is tho Utah Consolidated com? pany, which is shipping its straight smelting grade ores via its own tramway tram-way leading from tho bins to tho Tooclo. smelter of tho International Smelting & defining company. Despite its dividend divi-dend record of nearly ;;8.000.p00, this company has overcome all diOicultics which were' pointed out as good and suijicient reasons for tho proposition being be-ing placed upou the shelf, and it closes tho vc-ar 3912 with dhllonds paid during dur-ing "the past twelve months to the extent ex-tent of $'1.50 per share. An encouraging development of recent re-cent ditto iu this property has been the tonnage of lead ores brought to .v.icw, .ajid .regular, shipments are being, made to the International smelter at a time when the lead mnrket holds a verv satisfactory market strength. Whou President Channing of this company com-pany issued his report during the middle mid-dle of 1912, ho assured shareholders that the company was placing in sight a tonnage of ore equal to the production, produc-tion, and that- better depths were being be-ing gained steadly, with the expectation expecta-tion that depth would bo productive of very satisfactory results for the property. prop-erty. United. States. Mines. A producer of magnitude at Bingham Bing-ham is the United States Smelting, Tic-fining and Mining company, this company sending out. the second largest tonnago of the district composed of straight copper ore, lead-silver ore and a complicated leadline ore demanding especial processes of treatment before it is in a condition to be smelted. Much of the ores of the several mines nt Bingham of this company must bo concentrated, con-centrated, and at Midvalc the company has a lead-silver concentrator, the product pro-duct of which is smelted in the com-panj''s com-panj''s ad.ioiniug furnaces, while in the same pnelosuro is the zinc plant, the Huff Electrostatic, the zinc concentrates concen-trates .from which arc shipped to the zinc smelting belt in the middle west. It is at Bingham that . tho United States company practices its policy of having such a variety of minos that it can produce from any or all jixsi, ; as tho market prices of metals .lustny. Bingham and its great variety of resources re-sources lends itself bcautnully to such a policv, whilo the companv is m a position to increase or reduce its output out-put of any metal iust as tho market rantro dictates. With a high copper market, the company's large tonnago of smelting grade copper ores become I a very valuable asset. The company has benefited naturallj' during the year from tho higjicst price zinc ever gainod, emphasizing its zinc production, and so on with lead and silver. As nil these inotals have enjoyed prosperous ranges duriug the year tho company was enabled to make big profits from each and every ono - of its Bingham properties. The 1912 production of this company should equal that of 1911, when its Bingham territory afforded about 110,-000 110,-000 tons of lead ore and close to 1S0,-000 1S0,-000 tonR of copper ore. The company is continually bringing more ore to vi'cw than is "ext racted. The 1911 production pro-duction measured 22,199,141 pounds of copper: 40,0212,701 pounds of lead: 10,2S5,150 ounces silver and 118,703 ounces gold. Tho company naid in dividends th0 sum of $2,4 01. 329.50 duriug tho vear. and a like sum during mm ' Ohio Copper. Ohio Copper conditions were cleared up during the year by the calling of an assessment of $1 a share, the proceeds pro-ceeds of which cleared the ledger of debts, placing the company in the possession pos-session of a sufficient working capital to complete the construction of the cou-cculratinjr cou-cculratinjr plant as originally planned, and which the tight financial conditions condi-tions had theretofore prevented. The company closod the year with tho mill handling over two-thirds capacity, with a mine in first-class condition for.pro-duction for.pro-duction and with tho future the brightest bright-est for this organization since the 1907 panic. The Ohio Copper is typically a Bingham Bing-ham proposition, making its earnings by the treatment on a large scale of low-grade copper ores, the ore ninning Jess than 1.5 per cent coppor. With the mill in the logical condition, as it will bo within a vor- brief pcriodthis compauj' should have smooth sailing in wringing dividends from its stubborn ores. An active proposition of Bingham, and one of the faithful dividend payers pay-ers of the district during 1912 was the Bingham-Xcw Haven company. This is a. close corporation controlled by prominent prom-inent eastern capitalists, and the company's ground adjoins tho Utah Consolidated property, the same copper oro bodies being in each. An arrangement arrange-ment was completed during the latter riart of the year for the Bingham-Ncw Haven management oporating via tho Utah Consolidated mine, thereby producing pro-ducing by way of the Utah tramway at a big saving per Ion. The Utah Apex. Binghain.Now Haven resources arc in keeping with Bingham as a camp and the company not only has closed ono of tho most prosperous periods of its history, but it opens 1913 in a position po-sition to earn at a greater rate per share than ever before. This bappy condition is duo to tho arrangement as mentioned and to the promise of good metal ranges. During tho past fiscal year tho Utah Apex company produced $635,933 worth of lead-silver ores, the net value of which was $251,915, and the followiug extract from the recently issued report of this organization gives a sufficiently sufficient-ly clear description of mine conditions: The mine has produced during tho year 34,U'1.15 tons of shipping- ore. 47.915,30 tons of milling ore and 15,-S51 15,-S51 21 tons of concentrates (dry weight.) The following development has been done during tho year: Drifting. 1S07.O feci; raising. 958.4 fect. sinking, 71.7 feet. Ttesults of this work: Partial development of. tho Parvenu ore body; opening of the Louisa ore body between the?' fourth and sixth levels, and the opening of the ninth level. Tonnage Available. Tho Parvenu ore body bus been opened sixty feci below the Fnrvonu tunnel, which adds largely to the re-Herve. re-Herve. which, including ore In sight and ore partly developed, can be tuken at 100,000 tons. The boundaries of this ore body arc not doflnitely known, but it has been proved that tho oro la 100 feet thick and 100 feet wide i ill the west end, and from twenty to t,.i ii,!,-!. inn (-.. ...1,1.-. at tile cast end. Faults displace tho ore on both the cast and west ends, but work now In progrcsu will locate lo-cate the position of tho ore bodies i beyond Uicho faults. The development of this oro body is ! of first Importance, as it Is the largest deposit of lead oro in Bingham. Other important developments will be tins opening of the ore on the heds above the Dana. flFSuro and the ore bodies in the Phoenix mine- The mine has ample reserves that C3n bo rapidly increased. Yampa Property Rumors. A company for man3' years countod among the producers of the Bingham camp is tho Yampa, which, throughout 1912, has done very little, despite tho favorable red metal conditions. For many years the Yampa operated its own smelling plant, but this was closed down when the company succeeded in negotiating a contract with tho American Ameri-can Smelting and "Refining company for the treatment of its ores. Production Produc-tion under this contract was smaller in tonnage, but of a better grade of ore. No explanation so far has been forthcoming forth-coming as to the Yampa companjs fnturo intentions, but during the year frequent rumors of a consolidation of this with other properties of the camp I have been heard, but nothing further has been accomplished as far .as knowju. The Yampa owns a geuerous share of Bingham territory, and it ha3 mined in the past from enormous bodies of low grade copper ore. Bingham Mines Company. , The operations of the Bingham Mino3 company the past year have been high-ly high-ly successful. Iu point of earnings the company exceedH all previous records, notwithstanding the cessation of work for more than one month on account of tho strike called by the Western Federation of Miners, The Daltou & Lark mino has been a 3tcady and liberal producer of lead-silver lead-silver and copper ore during the entire year and tho Commercial, while not operated for the full twelve months, has produced a substantial tonnago of profitable coppor ore. A vigorous campaign of development work has been carried on in both properties, prop-erties, resulting in the opening of now oro bodies and assuring the future of the properties for somo time to come. The Yosomito Minos company, which is controlled by tho Bingham Mines company, has likewise been carrying on important development work duriug tho past ten months. The distance on the piano of the vein from the collar of the Yosemito shaft to the Mascotte tunnel level is approximately 2300 foot. Work was begun early in the year in the bottom of the old shaft which had previously been sunk to the 900 foot level and sinking carried on vigorously vigor-ously during the year. At the same time, a raise was begun from tho Mas-cotto Mas-cotto tunnel level ami work has also been carried ou there during that period. At this time something less than -100 feet of ground remains to be broken to make tho eonnoctioj this is completed the YosomiW one of tho deepest shafts in -' making it possible rjniokly" an atlcally to develop this exton of virgin ground, af fording i at the panic tune through thai tunnel for the ore and" tni5t as un watering the mine to the1 tunnel level. Many Others Busy, j There aro numerous other i of Bingham which are at i whose locations tend to the 8 that eventually they will bj into the production column, making trequeut shipmont3 j tho smelters, but it is not ol' tho world hears of them. nenco of their big neighbors ov! their efforts, but as it is ' property today which may $ earner of tomorrow there is.-believe is.-believe that new shippers o nonco nmy bo listed ateadil great camp. I Operations during the year terferod with for a period of or more by a strike of emplovj ing tho whole district. Fop a month thore was not a mina cd in the cainp, a condition-; not been experienced in a geui two. Conditions now aret normal, although operators! considerable difficulty iQ obtai after operations wore rest groat many left the camp,' strike wn3 declared, a great m refused to return to work oi of the refusal of the employe ognize the union, while hundi returned to their foreign M tli03' might take a part in th, war. , |