Salt Lake Telegram | 1916-03-01 | Page 6 | Metal & Tunnel Co. Annual Report is Released

ff H METAL TUNNEL CO os ANNUAL REPORT I IS RELEASED The e annual report report of the Utah Metal l Tunnel Tunnel company the first ever nied by the company shows net nt oi Qs f for tor r 1915 calendar year of Since ce the preparation of the annual port the following statement of pro- pro for January has been received New BIngham Haven produced of lead and pounds of pp r. r Estimating copper at 26 cents r pound and lead at 6 cents per und und he market value would be 12 l II Ut Deducting mining smelting re- re ling and selling charges leaves The Utah Metal received from the letter leHer for its product Deduct I nine ning expense Jabor and supplies and nd would be about ese iese two sums added together make malte maltet t earnings of the two properties for nuary i Earnings of the Utah Metal and mud innel company would have been great- great for the fact that on January 1 ere occurred a in the large slope which necessitated re- re and cleaning up and pre pre- shipping the usual quality and 1 Hy quantity of ore ora until the day Ithe th month Since January 14 reg- reg daily shipments have been going Sine the annual report was wall drafted other new body of ore has been dis- dis vered in the Utah Metal ground in a aI I running from the level This ikes tokes five fhe ore bodies that have been md in the Utah Ulah Metal and w rM Haven er grounds OU in ds dsA A April since wel we l last the t first in stu Utah one tal ground The Hie production of New Bingham Hadl Ha- Ha twelve months month and n Utah Metal dl il company m for seven e months rt 1315 follow Gold Silver SlIver Ounces Ounces New N w Karen Haven 6 6 17 ah 1 T T. T Lead Copper I Pounds Pounds New Sham Maven rL T T. T average Price of 20 per ounce for gold cents per pernee pernee nee flee for silver slIver cents a pound copper and cents a pound for II d. d Vs to the future policy of the com com- ny fly the directors feel that the two together should have quick quicksets sets eta of before beginning pay- pay nt of ot dividends It Is their belief it these assets will amount by April 1 I before to a sum so near 1000 1 1000 that it will be prudent to set de ide SO 80 per cent of earnings and ate them to payment of dividends