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Show INTER-MOUNTAI- MINING REVIEW. N Annual Reports. Utah Mineral Production. Horn Silver Mining company, Frisco, Utah. The annual report of General P. T. Farnsworth gives very forwarded to Director Preston his Manager full and complete information to the statement of the gold and silver pro- stockholders. . The production of shipduction for 1895. All returns heretoore was 11,763 gross and 11,458 net fore published have been based upon ping of an average value of $15.82. The estimates for the month of December tons, of milling ore was 40,755 and were necessarily inaccurate, and production 8245 gross and 7630 net as the full and complete figures of the tons, yielding of an average Mint Bureau change these preliminary tons of concentrates, of $27.67 per ton. The total reestimates, they are of interest and im- value ceipts from sales of ore and concenMr. A. Hanauer, Jr.f special agent of the Mint Bureau for Utah, has just portance. Utahs production of the precious trates were Each ton metals for the year 1895 was 74,820 ounces of gold, of a value of $1,546,679, and S,l4l,3S3 ounces silver, of a' coinage value of $10,525,994, a total of The commercial value of the silver was $5,316,323. In his statement Mr. Hanauer says: Compared with the preceding year this is a gain of 20,250 ounces gold and 1,607,201 ounces silver, and in value a gain of $2,496,559. The silver output may be considered as normal, being about the average of recent years, higher than those immediately preceding it, but not equal to the prodcution of 1890 and 1891, while the gold yield shows a large increase over the year before, and was the highest on record. The advance in the gold production in recent years has been regular and steady, and single mines now produce more than the entire State was credited with but a $12,-072,6- 73. few years ago. The output of both gold and silver comes almost wholly from old and well known mines, no new producing mines or districts of importance being in evidence. Prospecting is active and widespread, notably in the vicinity of Mercur the Camp Floyd district which promises to largely increase its yield of gold during the coming year." An important fact disclosed by this report is that the silver output of the Tintic district exceeded that of Summit county, and Park City surrenders to Eureka the position she has so long occupied as the greatest silver producer. It is also worthy of note that mine produced more the Bullion-Bec- k silver in 1895 than the Ontario. The following table, prepared by Mr. Hanauer, gives the gold and silver production by counties: Gold. Silver. Oz. Oz. Counties. 4,133 3,261,061 Summit 27,525 3,517,166 Juab 775,640 11,120 Salt Lake 121,071 29,300 tTooele 712 507,500 Beaver 900 1,330 Millard 10,102 Washington Miscellaneous shipments from counties not enume700 5,000 rated above 74,820 8,141,383 Total Fish Springs, 109,180 ounces silver. tCamp 1652 Floyd, 27,272 ounces gold; Cave ounces gold. Springs, Comparison of Utahs gold and1861silver and product for the calendar years . 1895: Year. 1894 1895 Increase Gold. Oz. Silver. 54,570 74,820 6,534,182 8,141,383 20,250 1,607,201 Oz. Note. Of the total output, as above given, 35,857 ounces of gold and 6,058,192 ounces of silver were contained in smeltand ing ores, and 38,963 ounces of gold varmilled ounces 2,083,191 silver were by ious processes. All placer gold is included $392,416. of shipping ore cost $8.07, yielding a profit of $7.75. The cost of in commission, as the hoisting machinery, which consists of two pair of triple expansion engines of 3000 horsepower per pair, and will hoist a load of ten tons sixty feet per second, was planned and put in place while the sinking of the shaft was going on. With the exception of the terrible accident caused by the engineer pulling the cage up to the roof of the shaft, and by which ten miners were dashed to atoms at the bottom, no other serious fatality occurred. Mining and Scientific Press. Abstract of Recent Mining Decisions. Prepared for the Mining Review by extracting and concentrating the millSalt Westervelt, attorney-at-laing ore was $3 per ton of ore and 4.94 George Lake City, Utah. tons of crude ore were reduced to one Mining Corporations Directors Liaof concentrates. bility under California Statute. Under Dead work was performed to the act of April 23, 1880, requiring mine suamount of 1558 feet, making a total of perintendents to file weekly and monthly reports, verified under oath, such re4434 feet. There were no developments ports to be kept in companys office, of very great importance, although on open to inspection of stockholders, and of fine a was 900 level there stope the declaring further that in case of failore that is yielding the greater part ure of the directors to have such reports made and posted as required, of the ore now being shipped. shall be liable to an action by any they tothe shows The financial statement stockholder, who, on proof of the faildamrecover $1000 tal receipts, including $126,106 on hand ure shall held that the statute being remeJanuary 1, 1895, were $541,905, and the ages; dial and there being no ambiguity in it, cash balance January 1, 1896, was recovery could be had of the directors adin of assets the The company, for failure to have the accounts and redition to the mine, were $1,249,772, in- ports of the superintendent verified by although they were full, true and cluding $574,955 in outstanding amounts him, correct and there was no one within due the company. There was one div- many miles who could administer oaths and the directors acted in good faith, idend payment of $50,000. Bullion-Bec- k & Champion, Eureka, and had been advised by counsel that it was not necessary to have the acUtah. At the annual meeting, held in counts verified. Shanklin vs. Gray, 43 Beattie 399 last this city Pac. Rep. Friday, Secretary (Supreme court of Calisubmitted a report showing: Produc- fornia, January 21, 1896.) Same. Proof of Damages. Under tion of shipping ore, 21,419 tons, yield- such statute it is not necessary to ing $608,537, an average of $28.41 per prove damages. They will be implied ton; production of concentrates from from its violation. Ibid. Mining Partnership. What ConstiMay 1st, 3040 tons, yielding $82,223, tutes. A contract providing that one an average of $20.46 per ton. The party Should have a certain undivided the and were $690,760, total receipts interest in all ores extracted from cershould bear a proporoperating expenses were $164,760. The tain mines and share of the expense of extractcost of improvements was $151,000, and tionate ing the same, the other parties to have $375,000 were paid in dividends. remaining interest in the ore, and to The mine product contained. 1,438,307 bear the balance of the expense, also ounces of silver, 1169 ounces of gold and that the first party should furnishex-a mill for concentrating the ore, the 3187 tons of lead. pense of concentrating and rental of The following officers and directors mill to be divided among the parties, were elected: President, John Beck; renders them partners in the extraction Abram. H. Cannon, ofAthe ore. subsequent verbal agreement that treasurer, W. S. McComick; secretary, the first a cerparty should receive concenWalter J. Beattie; Simon Bamberger, tain price for each ton of ore to be paid from the proceeds of Hyrum Clawson and Clarence K. Mc- trated, the ore, he to pay the rental of the Comick. mill, repairs and improvements, does not prevent the parties from being The Deepest Shaft. partners. After the formation of a At the greatest depth ever attained mining partnership, an agreement that of the parties shall ship the ore afby miners in the history of the world, one ter concentration, receive the proceeds the miners in the vertical Red Jacket and out the money under the dipay shaft of the Calumet & Hecla copper rection of another partner, who was to mine have stopped sinking at a depth manage the mine, does not affect their vs. of 4900 feet, as this is the required relations as43 partners. Ashenfelter 664 Pac. Rep. (Supreme depth necessary for this company to Williams, Court of Appeals of Colorado, January reach the limit of its under13, 1896.) 3 and ground territory. (The No. 4 No. shafts of the Tamarack mines The claims of the Gold and Silver Exhad to be sunk nearly this enormous traction company of America against condepth before the copper-bearinthe Mercur Mining and Milling comwas glomerate reached.) The Red pany, for royalty under the MacArthur-ForreJacket shaft is the largest and best cyanide patents, haye been constructed mining shaft in the world. compromised and the suit will be disIts inside dimensions are 14x221 feet, missed. This leaves the cyanide comdivided into six compartments and tim- pany a clear field in the Camp Floyd bered throughout with pine. The new district, as none ol the other companies shaft-roc- k house, which will be built have resisted the royalty payments. of iron and will be made The outcome is also of interest and imthroughout, is the only part of the portance to the users of the cyanide work necessary to put this deep shaft process throughout the cuntry. w. $220,-74- 4. vice-preside- nt, g st . fire-pro- of |
