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Show I- ON UTAH COiJTOT Company Holding Its Own in Development, and Earnings Are Increased. CONDITIONS FAVORABLE New Resources Likely to Be Discovered as New .Work Proceeds. Tli report of "President Cha lining of llic Utah Consolidated company's operations opera-tions for the first half of 1012, published In these columnH Friday morning, has created a very favorable Impression locally, lo-cally, for the rcaHon that the company Is Increasing Us net earnings, having operated op-erated during the past sir months on tho basis of $600,000 net per annum, without reducing the available assets of tho proposition. prop-osition. The report shows that the lead ore tonnage has been Increased despite ihe production throughout the period, uhllc the copper tonnage today Is ap-j ap-j 'oxlmatcly the same, and of the same aluf as shown In the last statement Iiuaar to siocKiioiucrs Resources Assured. Ocnrral Manager Cowan's last report rae tho tonnage of copper ore as- measuring meas-uring 39.550 tons, the average value of ft lloh was 2.2-1 per cent copper, O.O.il lie os gold and 0.603 ounces silver, ''tore wore 2.'!.7S." tons of lead ore available, avail-able, averaging 15.44 per cent lead. 0.03 nini'os gold, 3.0J ounces sliver and 1-04 per nriu copper. There were also 12,000 mis of concentrating ore. averaging fi.8 Pnr cnt lead. 0.035 ounces gold, 0.35 fi ni'cs silver and 1.1 per cent copper. The. earning? Increase Is especially wol-loirio. wol-loirio. tho 1312 probable earnings being "OOO.OOO. against ?43S,4.T0 during 1011. and SG5.3IU In 1910. The present profits easily nrr tho present dividend rato of $1 P't- mnum there being but 300,000 shares i f Minelc authorized and outstanding. Large Dividend Sum. The last dividend of the company was pnld In May. 1912, and It brings the total ivkIonds paid to th present time to '7 200.000. ."here cap be no question that the Utah ('iiMolldatcd company has passed the 'n It I of its career. For years It had the distinction of being the lowest coat cop-x cop-x " producer of the country, and after tl n production of many millions of dol-,ir dol-,ir in nro the world -suddenly began to tnpiochitf that this, like all mines, had ne to the point of racing the crisis H'HowIiig years of production, for mines nmiot Inst for all time. The company i-d (o face the problem of mining lower "r-i(U ores and from continually increas-"ij, increas-"ij, dcptliH. inea.nlng Increased costs of iiiudUfilon and reduced net earnings. Future Possibilities. So far, new depth has allowed the roan-.qrnmiit roan-.qrnmiit to maintain the new average of Mi- proposition, and the mine is not yet it the point of closing down and ceasing opci aliens nitopc-tlier. Like all proposl-.niifc, proposl-.niifc, the Utah Consolidated company uhh the chance of breaking into new 'Hid better rgrade resources at any time ,J nl any depth, and there are a great many mines that succeeded In doing this despite geological difficulties to which (In- Utah Consolidated and other prop-rtles prop-rtles arc heir. Thf cast has been especially harsh 'itiy on the Utah Consolidated, and It I'j'jks as if many critics arc proceeding 'ipon the theory that predictions as to nine exhaustion will eventually bo ful-'I'-d if renewed often enough, but liophcts should not begin prophesying jo soon. |