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Show . CHIEF CON. SURVIVES ''ipifl PRICES Production Is Said to Be Greater Than at Any Previous Time. FUTURE IS HOPEFUL Experimental Metallurgical Work Reported to Have Made Progress. Srecial to The Tribune. EUREKA, Feb. 3. When the shareholders share-holders of the Chief Consolidated receive their dividend checks, within the next few days, they will also receive very ..omplete reports covering' the operations 0l' !v.ine during the past year. The rfrfort from Manager Walter Fitch is as follows: "Though the metal prices were higher curing the year, the -adverse conditions Attending the operations more than compensated com-pensated for these, for, notwithstanding i hat the mine's capacity for production was larger than at any previous time, the product made was smaller than during dur-ing the previous year; the limitation was on account of the inability or the smelters to take as much of the ore as formerly because of the many difficulties attending attend-ing their operations and of the growing increase of difficulties incident to the war. As far as it is possible to anticipate, antici-pate, these conditions will continue until the war is over. 'Much new ore has been found, and m two places this has been followed below ihe permanent water level, and the quality qual-ity of this is remarkably good, and, as its character makes it very much more ?.t tractive to the smelters than the or above the water, every effort will be made to mine at this lower level, with the hope of gaining some relief from the many adverse conditions in respect to prospecting. Income Large. "The income from the sale of ore was greater than in the previous year, though the tonnage was less, this because of the higher metal prices and improved quality of the ore. but the net profit was less owing to the largely increased labor costs, ths heavy cost of doubling the width of the hoisting shaft, the cutting out of the pumping stations and reservoirs, an ad led amount to cover depreciation, the cost of the metallurgical research work and the setting aside of a large amount in anticipation of a very heavy federal war income tax. all of these items having been charged to operating cost. "The experimental metallurgical work, . started at the beginning of last year, has s.epr.siderable encouraging progress. is hoped that during the current Tar some plan may be developed that win permit of the treatment of these ores other than by direct smelting." Superintendent Cecil Fitch's report gjves a summary of the development as well as a report on ore produc-uor-:al contents of the ore. etc. curing the past year the Chief Consolidated Con-solidated company did 15.430 feet of development de-velopment work. divided as follows: Drifts. 1 Z,'j2 feet : raises. 162$ feet, and winzes. 212 feet. This was the work at the company's main property, and, in addition, a large amount of development work was done at the Pinion Peak, or Komansville. section of the Chiefs holdings, hold-ings, as well as some extensive work in behalf of the Plutus company's ground. For the Homansville tract of mineral land 2423 feet of drifting was done, and for the Plutus about the same amount, making a total footage of 20,6 iG for the entire property. Total Shipments. The total shipments from the mine amounted to 59.S50 dry tons, which yielded ret. after payment of smelting, transportation trans-portation and sampling. SI, 554, 714. 46. The metal contents were as follows: Gold, 0175 ounces; silver, 1,534.307 ounces; lead, I0,70,540 pounds, and zinc, 600,236 pounds. The average gross value of ore was $40.12 per ton and the average net value. foLr lowing the payment of smelting, freight end sampling charges, $25.93. The net profit after all charges was $427,637.24. Superintendent Fitch says that operations opera-tions below the 1S00 are under the water and are being handled in a temporary manner, pending the installation of the new pumping equipment, which will perhaps per-haps he in operation within the next three months. He says that the ore production pro-duction during the vear has been coming from the 700, ,vX. 1600 and 1S00 levels. During the latter part of the past year shipments were curtailed on account of t.ie insufficient capacities of the smelters, smelt-ers, and this condition still exists, to a certain extent, together with higher treatment treat-ment charges, higher taxes and higher operating costs ail along the line. Bemuse Be-muse of this fact, the Chief' Consolidated Consoli-dated people have suspended some of their development work, awaiting a more auspicious time in which to take up the . respecting of new ground. This accounts ac-counts for the suspension of operations tne Pinion Peak tract, where condi-were condi-were entirely satisfactory and t Thought that valuable mineral deposits de-posits will be opened. The shipment of lot tons of manganese ore per week from the Pinion Peak tract is giving the company com-pany a email revenue. superintendent Fitch, in his report speaks of the favorable conditions ex-h ex-h J-nr 1 e P!uLU- ow controlled bv ne Chief, and in which extensive work s unaer way. The work through the Tetro shaft of the Plutus lias been shopped lor the present. |
