Salt Lake Telegram | 1910-09-21 | Page 8 | Ray and Chino Are Adding Big Tonnage to Their Reserves

II RAY AND CHINO CUINO ARE ADDING BIG TONNAGE TO RESERVES Upon the return of D. D C. C Jackling from A Arizona and New cw Mexico yesterday evening even even- i ing ng he lie said that the forces arc doing iouine routine rou iou t tine ine development and equipment work at atnay I Ray nay and Chino copp copper r properties Good p progress has been made in both these departments de de- de- de p and the construction work ork on t the he Ray flay fay mill mi plant Is especially gratify gratify- I ing ng The fhe main concentrating building of t the h Ray flay will wi be completed by October 1 I It t is planned to start the mill mi In operation operation opera opera- t tion ion In a few weeks after the first of the year ear During August tons of ore were added to the reserves giving the combined combined com corn properties of or Ray and Gila Gia which are arenow now one organization a total of 75 5 0 tons of or an average grade reported i in n previous months At the Chino 2000 0 00 tons were added to the ore reserves l last ast month which now gives this company company com corn pany in excess of or tons of ot ot an average grade of per cent copper AsI Asked ed regarding the copper situation Mr Tackling said that he believed that I copper metal market is in as healthy a aI condition as it has been in many months I I I l He ie said indications point to an earl early and decisive improvement It I is clearly to be seen that as aR rapidly rapidlY as possible these two properties are t to tobe to be developed and heavy equipment will wi be I installed for the purpose of or bringing them up to the productive stage This In spite of ot the tho fact tact that a copper curtailment Isnow isnow Is Isnow now enforced throughout the country The owners of these two splendid properties properties proper proper- ties tes are evidently of the tile opinion that a demand for the red metal will wi be evinced within a year rear or two and are I preparing to get In and supply the markets markets markets mar mar- with their product As each compan company com corn pan pany can produce its is copper for 8 S cents or orless oress I l less ess a a. pound it i Is evident that they can cn I make a good profit even at aL the present low price of the metal S METAL TAL MARKET Silver Sivel at al 53 3 cents an ounce Copper cathodes at for the pa pounds pound u S Lead at U. U 40 for the pounds CURB CUB TRADING TRADING On the curb this morning sold shares at 35 cents and Gold Chain sold 1500 shares at 33 3 cents Tho The closing cosing quotations quotations quo- quo in the unlisted wet as follows I I Bid Bd Asked ed Gold Chain 33 34 1 35 3 35 United Treasure lull Hi 01 07 Central Standard 16 17 Seven Troughs Coalition Coalton 35 West Quincy 15 18 Thompson 15