Salt Lake Tribune | 1914-03-04 | Page 11 | Dissatisfied with Rochester Report

DISSATISFIED WITH ROCHESTER REPORT The issuing of tho first annual report of the Rochester Mines company has made local interests more determined than ever to wrest control of the "properties "proper-ties from J. K. Ncnzcl, and civil suits may be brought to compel return to the treasury of amounts charged up to expenses. ex-penses. During the year thore was mined and shipped 14,720 tons of ore at from S1S.07 to $:tn.64 a ton, or a gross valuation of $368,770.65. The cost s given as $25.04 a ton, as follows: Railroad freight, $S.70: wagon haul, $4.43; leasers, $9.70, and royalty. $2.12. Tho number of feet of development de-velopment work given Is: Trenches and culs. S160; crosscuts, 1792; drifts. 2441; shafts, 634. raises, 7.10, and winzes, 165. President Nenzel urges the need of a mill plant and also favors a consolidation consolida-tion with companies that own adjoining properties, claiming that a merger could, be made which would give the company the vein system, over 6000 feet In length, and Insure un ore supply at the rate of 200 tons dally for a period of ton years. Nenzol says that while the operating expenses ex-penses have beon high, that this has been overcome and that the company Is now well organized and expenses have been reduced, The financial statement la as follows: Profit and loss; gross Income: 81,000 shares treasury slock sold ..$20,000.00 Royalties 25.74S.02 Total gross earnings $45.74S.02 EXPENSES. Auto destroyed by flre.$ :'..260.00 Management 5.S10.97 Legal service 4,066,77 Assay and engineering. 2,217.71 Advertisement . ..... 657.02 Or road donation .... 1,000.00 Office expenses 2.905.12 General expenses 5.82S.I5 Total expense S25.S35.77 Not profit $19,192.25 Less 5 por cent depreciation on groS3 value of ore produced... 18,438.53 Not profit after deducting depreciation de-preciation $1,473. -