Salt Lake Telegram | 1934-12-29 | Page 26 | Tintic Standard Pays $1,500,000 for Taxes and Expenses in 1934

ft Standard Pays Pays' 1 t Y- Y for Taxes r 1 4 V And Expenses Expense in 1934 r s. s kl ine Ina Statement Shows hews Shows It to Be On One One e o of U Utah Utah's ah's s I j i Leaders Operations aliens on Curtailed Basis f y a li r Utah and d the nation are arc richer b by approximately a million an and d a a half dollars for for the activities of the Tintic Standard Mining company com com- T pany pony in 1934 This mone money will be distributed to labor and paid for supplies power and taxes The exact amount will not be known know until n the full full years year's business busine s is tabulated but a fairly close esti 1 I mate can b be ba made from the me meon figures on production costs for the first nine the 12 months and dividends dividends' for lor months ending with the payment ofa ofa of or ora a final dividend of ot 22 1 2 1 cents on December 24 To September 30 was disbursed for mining taxes freight smelting and refining administration tion expense insurance and tion Operations were on a curtailed basis basis production being limited to one shift shirt In accordance with the labor provisions of the lead code working time w was u restricted to five da days s 's a week weck Mining Minin costs for nine months amounted to compared with in the same months of ot 1933 Taxes for the period were in 1934 and In 1933 Materially higher prices for gold old and silver aided the company The average price realized for goldin gold goldin in 1934 was per ounce for sil- sil silver vcr vcr ver cents an ounce and for ferr lead cents a pound An increase in the output of ot gold was an outstanding feature of or Tintic Standards Standard's 1934 operations In 1933 nine months' months production was ounces During th the first three quarters quart quare of 1934 ounces were taken out The growth of the gold sold content was due to selective mining in areas near and in quartzite Development Development Development De De- work to the northeast on the foot 1400 level revealed a fJ fissure sure carrying substantial values in gold and silver similar to the ore in the adjoining Eureka Standard mine Work Vork has been prosecuted but a short distance along lIong the new fissure and its full extent Is still a matter of con je jecture ture Dev Development of the western ore body on th the foot 1300 level was continued with good results While the gold production Increased In creased there was a sharp decline in inthe inthe the output of lead and a lesser I-esser drop in the volume of silver Figures for nine months show pounds o of i lead in 1934 against poun pounds in 1933 and ounces g of silver salve r In 1934 compared with ounces e in the corresponding months of ot 1933 Net earnings for nine months were Total dividends paid b bythe by bythe the Standard in the 18 years since i it t began production amount to 15 Eureka Standard Tintic Standards Standard's gold subsidiary has been driving to the southwest on its U fissure in the of the main Eureka Standard fault on the foot 1300 level The drift drill was extended about feet during the thc year and in November the the- theU U Sure fL was intersected on the foot 1400 level where it maintains its southwest strike and carries its normal nor mal mat values Heat Heat and gas which Interfered with operations on the foot 1400 level of or the Eureka Standard have been largely eliminated by three raises from the 1400 HOD to the 1300 level In preparation for tor increased mining on the foot 1400 level th the company compan plans to put in a reserve pumping plant to cost including installation about Officers of the Tintic Standard Mining company are Ira D D. D Travis president James W. W Wade vice president president pres ident and general manager H H. H E. E treasurer L L. L H. H secretary sec sec- sec sec- Other directors arc G. G L. L Becker Roy M. M Jacobs and Charles C C. C Henry