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Show District Strikes Gait; My No Means One-Mine Camp IriON of the ray. -Ncv- dls-H dls-H naturally first calls to mlnrl e performances of Us premier "crprfic, the Nevada Conioll-il Conioll-il Copper company, the tnc-neit tnc-neit modem low-cost por-rr por-rr rropofUlona lo bo rounded iramerclal success. But that a one-mlnc camp Is seen by ous other properties fast be-a be-a into the production column, mat amount of development 1 done throughout the dla-t dla-t from the Nevada Consoll-utf, Consoll-utf, the only proflt-payins or-6l or-6l tho camp, are blns paid ,xta of nearly $750,000 per at the rate per quarter of i hare. Tho third quarterly (bit company showed undi-5 undi-5 of J3.4H2J0S. against $1.S2S.-pear $1.S2S.-pear before, and net earnings od rc&ched the total or ?1,-i ?1,-i surplus for the quarter, as Increased by $1,066,332, and r these splendid financial con-, jlrectora for tha fourth quar-iddd quar-iddd 50 cents to tha regular treby charing with stockhold-' It of Its magnificent earning the form of a holiday remem-' Now Handled. ii. Consolidated company has W at Its own concentrating m S00O and 10.000 tons of ore r ctnt of which comes from rphyry deposit by moans of hovel system of mining. Uio from (he Veteran property by mining system. Tho situ-great situ-great property can better be y quoting from a portion of 1erly report: ctlon of copper amounted to unds. 'which compares with : quarters as shown below: ' I' .' 6.3S0.I3L' ... 17.37S. I50 Pounds. '' ''''' Gllo.GS o.C07.'57S , 18,105, 1G7 ition Is Made, ttt production for the month of , compared with the previous this Quarter, was due In par', to if of considerable ore from the 1 which, owing to Us hardness, tonnage per mill section, and tho unsettled condition of la-latter la-latter part of September pre-ie pre-ie strike referred to moro fully tral balanco sheet of the Ne vada Consolidated Copper company as of September 30 compares with those of December 31, ion. as follows: Assets. Deferred charges L'.VgVbo ViYSni Material and supplies 13 ft " s'li Accountu collectible. R56 SSI sig'OK Metals on hand apd -u.u. In transit 3.79S.0S0 2.515.S0S Cath 1.303.191 1531213 J011' 521.0J0.SS4 S21.S5S.921 Liabilities. MnKA0C,, "S Wl-'O $ 0.03U.970 Not tgagc bonds gon v ' Duo teptoo Valley. . 803.710 uuq Nev. Northern. - 572.423 ! iSm tucc?"nt 9,070.812 0',070,3(ij Unpaid treat, metals. 59L'..jOI si 7s Accounts payable .. 175 090 rEft'sol Undivided profits .I. 3,112,70s ijssls? TotAl 521.619,80-1 X21(S5S.32-I 7a7rl7ni'0tn"2 EB r IL"'' d uri njr the quarter avroei2ni Nevada. Consolidated ore. .B I,7' p(:r co,1t copper, of which A' tonsPnfroKCr,CV, iVV ,hc P,lB " e" 1 7'rh n . mj.lne Vctran mine. I ' rne net credit to undivided worn peJfthrr quarterly dividend and the charging off of $181,901 for ore et n- S ePt0,c for depreciation. ftf .mi "iflGP,,,n5 atnuunlcd to J2S1.0S1. 2ii3h,5il.?ll?:fi.15 was eharscl to operating oper-ating costs, balanco deferred. ri 75 ,has,bren a material Increase of Land .fluo t0 tne nrm fro1" r-1 r-1 1 onlv a r"ch copper as wa? produced during the. quarter, but also to a reduction of $1-10.000 In amount of copper In transit, and to the talcing over ?LCQ?OIn,r V?9 subsidiary companies, the Stoptoc Valley Smelting and Mining company and Nevada. Northern Rallwav company, as shown under Increased lla-b lla-b Itles. If this general financial condition con-dition -prevalla at-the next dividend declaration dec-laration date, an extra, dividend ,wll bc-dccinrtd bc-dccinrtd of ns much rash an is not needed need-ed for the proper conduct of the business. Labor Situation. ?'n" Shortly after the close of. the quarter rererrod to herein, h strike- . anions, our employees was ordered by the ofllners (if tln tcslcrn Federation of Miners but only a portion of the men went out.' This strike was not based upon the question of -wage or scale of hours of labor, but puruly on a recognition of the Western Federation of Miners. Thla company has not objected to Its employees being mem-bers mem-bers of unions, but Its directors do insist the management shall not be hampered In Its operations by the interference ol men not In the employ , of this company. Operations at the mine.! ceased on October Oc-tober '2, but were resumed on October 21. and at the dale of this report we are running 50 per cent capacity and expect to reach normal tonnage shortly. Deep drilling to doterminc the possible existence of additional ore at the Eureka Pit was begun in September, but the strike forced a suspension of this work. It will be resumed again as soon as possible. pos-sible. Giroux Concolidatetd. Bv virtue of Its copper ore reserves, totaling muny millions of tons, and amount of ore production, the Giroux Consolidated company occupies the second sec-ond place of Importance among Ely nrop-ertles. nrop-ertles. Durlntr the past year tho Giroux officials completed a contract with the Nevada Consolidated Interests by which shipments of concentrating ore were to be made for a period of five years, the loMnrt.,liiSa"Intr f07 minimum of 900 da?ly maximum of 1200 tons r.-Zv1.? ,?,roHx under this contract began production 1:1 May of 1912. and to the end of fcontebcr had shipped 115.S2S tons rr,nJ "'V?" y,cWc,l -"8.332 pounds of Phnil? i i average copper value of B,,'Pmnta lncrrascdfrom 1.82 per h2 lay to 228 pcr Mnt ln Septcm-r'o Septcm-r'o h,1c". . P"rRt!ono were halted tcm-E?r7Y,,y tcm-E?r7Y,,y 0VCJ t,,c dl"trict on account or Ui c strike of miners In that district, i. tflW camc fr0m tho Morrls and Bun-) Bun-) r n'tcfS011?-"' 'l'1 11 ft gross value of Jlli.sii. The Giroux is now shipping again close to normal, and should give an excellent account of itself during the coming year. Coppermines Group. Interest ln the Giroux has been ln creased lately on account of a report that a conrolldatlon wan pending between be-tween that company and the Copper-mines Copper-mines company, thc im tor hclng one of tho large producers of the district, not merly of concentrating srad. on., but shipping grade as well. During the quar-tor quar-tor ended September 30. 1912. the Cop-permlnes Cop-permlnes company sent out ore valued ?i-5?,oco Kross- the net proceeds being Th.e. CoPPcrmlnea ore Is of a. straight smelting grade, as a rule, and the company com-pany has been shipping to smelters In . . kakri' belnc the only company to Hup its ores from Ely to outside points In many years. The company has large and very arood grade tonnages available, and doubtless will exceed Us 1913 record throughout tho new year. A sreat deal of telling work during the ycflr has been done on such properties Tis the Ely Consolidated. Boston Ely. Smoky Development, Federal Ely and others, while there are a .number of properties destined to take their place wltldn the next few wecky among the active propositions of tho district. Ely certainly struck lt salt durlnr the past year, tho encouragement and resultH of the larger organizations affording Inspiration In-spiration for operations to be undertaker, on all t-ldes. The camp Is extensively mineralized and It Is natural to expect that where there are eo manv dlftcront propositions ownlnsr a part of the copper ore tonnages of th camp that dealE brlnglnc about a closer relation are logical logi-cal and purr-, to come. Production will' Increaj-o durlnr 1913. just as 1912 -'exceeded anything the district ever achieved before. |
