Show DEVELOPMENT UTAH OTAH cow CON SAYS AYS For the first tm time limp since organization Pre President I dent Urban H. H I. I Broughton presided at nt the annual meeting h held lr several se crl days das a ago o In Jersey City N J. J A About ut two dozen people wore were present two to of or whom f were TO rO women women Pf President Broughton sup supplemented sup sup- his annual report with the following Prior to 1909 tho only adv adverse criticism cism was that no larger dividends were paid Such large profits were made mao In 1905 and 1906 that tho the stock tock was waG carried car car- cr- cr ried to a price level le which was as not warranted war war- ranted 1 I have havo not been p personally ron ly In Interested Interested interested In- In in tho the market for tho the stock nor have havo I taken advantage advantage of or personal In In In- formation In 1907 th the smelter W was closed down but I thought that 2 was waR too much to spend for a now new one ono and a a. a new contract with wih the Garfield Garfeld smelter was madeA made i A A b body of or lead ore was found within thre weeks on lower level lovel in hitherto unexplored territory It has no connection connection tion ton with wih an any other ore oro bod body It I Is an extension of tho the Yampa Tampa limestone limestone- In ono one drift there thee ae ore are however howe between and tons tOng tons President nt Broughton reviewed the tho developments developments de de- de leading up to the termination tion ton of oC the old contract and the tho making of f a new one ono with tho the International Sm Smelting melting company compan which he said was a alost amot lost niost mot excellent one He referred also alsoto to o favorable criticism m b by George Lakers L L. Valker's akers paper In 1909 concerning the new cw contract Japer contrasting It with lh the position taken in his his' last Issue on tho the same bamo subject Mr Broughton BrouGhton continued Utah Consolidated Con- Con mado made l larger t er profits during the first quarter of or this year with wih copper coppert at t 12 c cents than was made In all nU of 1910 He said that tho the contract ct with the ho International Smelting and Refining company was the tho best over ever made by an any mining lining company compan Mr Broughton said ho he hI wanted to resign rogn r- r ro- ro sign three years ago ao but was as restrained owing wing to the down hill grade grade- of tho tim Utah Uth hi gado Con Consolidated property When hen rhen Mr lr Channing banning left leCt tho the proper property In 1907 said sid Mr Ir Broughton ho estimated sulphide at nt tons On March Marh 4 4 1909 1909 Mr lr Risque estimated d It at tons ona and on February 16 1 1909 09 a at over tons 0 Since September last feet teet of ot exploration and development work have been suIts een accomplished with lh favorable favorable ro- ro r- r Further development In tho the tenth level evel lo el has added aMed considerable to ore oro re re- re serves rv s. s Tho vein to date averages five feet wide has been opened for over feet teet with taco face still In ore oro and should net et 6 per ton tori at present prices pries The stockholders stockholders' list showed shoed that the five o f directors have against their names but jut shares Personalities between Mr Ir Broughton and Mr lr Walker arose when th th latter later put up to the former ty for tor retarding development work but Mr Broughton denied ever Issuing Issuing Is- Is suing such order |