| Show THE: 1 Mining Qiie if toT- rfe HERAEDREPUBLICAN-saLTLAKE'’CITY 'UTAH Utahns of OCTOBER -SATURDAY 1913' 4 y PUBLICITY' - GreatesSources a J Wealth of i SECTION’ M Consolidated Chief Rochester Y : 4 V The r-t history the Chief of product and earnings and regulai’ payment of dividends The report shows the receipts and expenditures: Consolidated steady the Mining- company one of the leading producersof the famed Tlntic district the history of “Poverty lat” which ’ miracles of the des-' ert has been brought about this year in Humboldt countyNev5 Another those of Mines the is district occupied by Tiie Ohio Copper is one of the bls the share The per annually company’s mines of Bingham district The treasury surplus of cash and quick consists of is "heard locally because property 1600 acres $4 and is approximately per share practically all the property of the Utah the stock is held in the Copper notwithstandingthe excellent showing cast is the Utah The Ohio ConsolidatedMining made last year the dividend payments company Copper mines current earnings the and mills daily a and its splendid company The company owns an tonnageof about 2500 recently sold as low as $7 a stock tons At an organization domain n'ear'the head of Carr share held by the board of directors meeting ork in in Bingham from which it has The statementthat ore reserves have New York extracted tiring the past few been maintained both as to years grade and City recently the following officers is and at the same were elected: W O of ore has justified tonnage reassuring Allison president tonnage which time it to me very modest for John W McKinnon the distribution vice president among its stockholders found seems the mine cent looking50 per than of the Maurice Levey treasurer and rederick aggregatesum of $9971460better when visited it recently Eckstein secretary Al rank is did two years' ago With its present source of revenueto the company itrate general with offices in manager th” of earnings and its treasury is its 5000 shares building sometimes overlooked Newhouse Salt Lake capital stock the company’s in the This Tlie latest balance sheet Internationalsmelter issued bj' could be liquidated at its current selling President Allison follows: block of fetock is said to be worth over price in two years As yet a very $600000 large portion of the company'sproperty Assets Since Mill and mill properties operationsbegan Utah remains unexplored $474’7s910 Treasury stock 50000 The balance sheet of the Utah with capitalization of shares at 85 25000000 issued at York on urniture and fixtures New has £aid a total of $9971460 Unexpired fire insurance showing balance to December Mill supplies 5402331 in dividends $3264 on each $5 share 13 1912 is compared as follows: or Mine supplies 1106686 President Channing makes the ASSETS 1912 1911 6509017 brief mid-year report to stockholders:Cost properties 850195 850195 Casli 19240:: 53 Smelter properties 33S76 35003 Accounts receivable “The net earnings from1 27860371 Debtors 391040 80973 of your company for the first Copper bullion ami supplies 401130 64S8G6 S5u3-j01 13 International Smelter & Re six months of the current Ii:i bilities year are 500000 fining company stock 5(0000 Captai stock Author estimated $375000’ The 22918 52407 at lead and Cash ized 1600000 —shares at have been maintained $5 par— Issued— 300000 copper orereserves $2200059 $2 16 14 Total S3 at $390000000 both as to grade and tonnage” 50000 shares at $5 LIABILITIES 25000000 that It will be recalled the company Capital stock $1500000 $1500000 $603923 last Sundry creditors 58792 143115 earned a total of $415000 50000 50000 Ohio Copper company — than General reserves year which was a fraction more Profit and loss 591268 474329 first mortgage bonds $176000000 share first $2 per Profits for the half Less bonds in treasury 51400000 of this year were at the rate of $250 Total $2200059 $2167444 $1246000on Accounts payable 13063’ Surplus account — Profit on operations — 1912 to May August 31 1913 9317679 Less T sundry other 2249484 One of the which little producing areproperties of - - a few 1 - a I : a to-" I : I 1 ' A ' reserves u-q--Rochester j ' ‘ Y Consolidated September $ - following $ 1 1 4 ' silver V ' ' $ operations north-nori--eastward-trepding I X $1-500000 8 a 2 ‘ Consolidated 1 g ‘ a a 'I adjoining 1 in-' i assets d ' t about ! population I ' Utah immense a -good' mines of -big a a 1 Copper ! score a onthe ‘ The RECEIPTS the Ohio — Nearly Theeastern Rochesterdistrict lies mainly slope of the Humboldt new camp of Rochester just mountains between 4000 and’ 8400 feet months ago a barren waste of in elevation in north-south area now 1913 January today is thriving mining about six miles long by five miles wide — sagebrush townsite of Eureka After a period of On hand $30302305 camp employingnearly- thousand men the will later probably sales on which survey thirty years it 20056877 at remained for an out- Ore and publish a report accompanied by Interest 2859 96 wages supporting sider to exploit this doubtful of nearly 3000 a geologic and topographic map ground Equipment depreciation 688498 Nenzel the Joseph and add a new discovererand The district is easy of access being producerto Tintic John Cowan “thethe ten miles east of Nixon- formerly Oreana man with $51933676 money” by In 1905 Walter itch for many years the nearest station and ore shipping working' assiduously EXPENDITURES for several ‘have identified with the iron and copper gerner months developed point on the main line of the Dividend No 8764530 what promisesto be the world’s Pacific railroad and twenty-five dustry of inlay Operating costs Southern Michigan and J 12277617 greatest silver camp miles northeast of Lovelock With the noted writer of 259470 from Rochester- this week mining subjects in Mining claims A report both of these places it has daily freight City MiningCo that on the 1900000 says No and mail !auto service walking from the Grand Central mine Eureka express passenger Buildings and machinery 498965 Mines company three feet of and telephone ever to the ore-" connections Eureka following Houghton expense 86833 ore has been opened up which samples The countryis mountainous but not the bearing lime to the summit of high as $300 a ton as rugged The ravines are open and most $23787415 About 150 tons of ore averaging $30 of them are passable for team and mountain south of Eureka became im-i balance of ton is being sent to the sampler pressed with the fact that the Giving $28146261 on to $80 a ore wagon each day As soon hand July 1913 the machinery the ore as Nenzel hill in1 which lie zones in that portion of Tintic district has been ordered by the several bodies from Superintendent Cecil itch shows the that which the present production leasers were very persistent and that by every the work done working on company’s is chiefly derived is situated in during the six months to property has' been rule of installed the dally the eastern portion of the district and geology and formation should have consisted of 3650 feet of drifting output should be ndtless than500 tons feet of be found continuingdown the north 52 winzes 174 feet of raises formsa part of the crest of the range The ores are chiefly silver bearing 132 feet of shaft and 56 feet the head of between Rochester canyon slope of the mountain and but carry also gold under the of shaft sinking widening in: some of the 'west and South total of 4064 feet which on American canyon a ore amounts to 50 per cent of town of the It is Eureka and noting that the The total ore shipments of 30854 tons the on the east were apparently deposited Little Chief yielded net $20656877 the mineral contents value1 They oval part of the mine was apparentlyin by hydrothermalsolutions ridge about 3000 feet long by 2000 feet having been 2489 ounces gold the course of the zone Investigated632897 silver and 245171 The strike in Nenzel hill was pounds late made wide and rises to 7300‘feet in elevation in that property finding that it had never of lead ounces November 1912 and the ship or about 500 feet above the adjoining of a couple of carloads of highgrade portions of the divide Tn Nenzel hill developedany ore zone or ore AscerThe assay values of the ore produced ment ore by Joe Nenzel rank Schick the veins ten or more in number vary talnlng later that the workingsof that was 0084 ounces gold 2137 ounces and Walt Moynaugh about Christmas from 100 to 3700 feet in length and and 041 The average mine had been carried on to the west per cent lead started the Rochester In less some boom apparentlyhave a vertical range gross value per ton of the ore was reduction than a month the hitherto desolate canyon the shaft the natural of at least 400 feet The w?est vein or of $14 85 smelting freight and sampling had a reported-population of 3000 lode now being worked chiefly on the giving the seemed to be that the ore measures costs per ton were $787 and contained two-story Codd lease and the Platt lease is about many substantial blocks must exist to the east if at all average per ton net value $697 of The buildings frame Leases on 32 feet in width and contains two veins net profit after the all 300 by 600 feet in area were taken and of good Thoroughly imbued with the min-eral charges was $8379250payment seven to eight feet wide ore operated actively by were of layers possibilities of Poverty lat Mr experienced composed chieflysilicified alternating Superintendent itch sal’s: men with the result that to rhyolite The mining of quartz and itch after further investigation called date the developmentof the plans for the rapid mines and workings on these veins have been The opening of his associates and parties the of a meeting showing ore are remarkable in ore of the mine were continuedand all -following is Z Consolidated Utah - : A -9 1 Daly-West $ expenses continuously the Little Chief and the interested in Chief into exis Consolidatedcame !? f the work also In possible this line and the ore was the shaft done to Ittheis limit of that hoped an opportunity will be to stop the found the long work in next six enough months to permit of the completion of the widening of the upper the shaft So far it has part of been impossible to do this When this work can be carried out it will permit of putting on of the second tnus nearly cage and doublingits capacity and allow of a larger of ore and also of the along of an increased amount of of development work which there is a large amount to do The crosscut to the Gemini mine was completedand'much benefit is being derived from the better air in the vvorings besides furnishing very necessary second outlet through that mine and also this drift supplies the opening for the carrying of on work in ground for not heretofore very promising ore available The length of the crosscut is 2135 feet There has been large increase of the ore in sight there will be no difficulty the present in product maintaining and it is hoped that in the six months of the year the values will improve opening Less has been accomplishedby Mr and his associates can best be itch g judgedby port the Issued Very been made the - company’s semiannualrefew weeks ago a substantial for this work has the opening up of footage of development in the mine progress period being The Daly West is one of the in the great mining camp mines of The holdings of which it is located the 300 acres of company consist of patented mining ground situated 2i Park miles from City in Empire can values containedin the ore averaged very much lower The have partially This results adopted of from mining the all in the operation quartz encountered stoping tliis became necessary because of the impossibility of of following the - other any - every in ore case in reserves of ore now exposed satisfactory the mine are very of such as to give assurance The In g and 7068194 6230000 a $ 94 413 53501 Alta Mining Company J a results a future 65-foot a a J J -1250000 S vice-president S remaining a $ a a way cars of these into railroad the cost And trouble over the hill a a system a mouth and from thus saving wagon haul Is Well Consolidated Equipped property of the company is The equippedwith a modern and up to date yon milling plant with daily capacity of The property known as the Walker in cent copper and $150 in gold and silver twelve the Daly West has or years 400 tons being the process concentration The formationof the district is mainly been regular Plumas county Cal recently acquired producer and dividend The employed in ore dressing made This is deeply paid the up of diorite up to date it has by John Cowan and associates of payer and crude ore on an average carries values fissured None but favorable comments have forming the depositories for handsome sum of $6579000 in profits of 6037 ounces silver Salt Lake and Ogden is being thoroughly the precious to the ton 0479 been heard on the first statementby metals Mr who Cowan to its shareholders gold 1921 developed The most will manage the property said yesterday ounces cent copper per cent lead and the Alta ConsolidatedMining company modern the past two years the company 212 that his plan is to sink the shaft During per which was issued machinery for the development of a on September 27 large has been a is the shipping product of the that the copper mine has been purchasedby Mr to the 2'00 level and then crosscut the pushing ahead that has mine This and Considering property embraces work up to the close of 1912 had nearly 100 acres of valuable Cowan and will be installed at the mine vein The bottomof the shaft is now in amount of development mineral good results in new as soon as delivery is made by the man low grade ore the richer streak been showing some produced over $15000000 ground surrounded by the best old having ore of higher value ufacturers pitched from the vertical The footwall ore discoveries improved values Oie of was mined mines of Alta and the gratifying The in several places the first few years than at any of the past two Walker property is fiftyrslx of the vein is an altered schist having been located during years’ development big miles from Portola on the Western Pa the hanging wall diorite tonnage when time since During this period the this domain is today one of The values that promise work cific milling and along the' hanging mined shipping ore the most valuable in the entire make principally amount of camphas The In later years and In two short years the property property consists of twenty wall which is well defined The present physical condition of the was about equal been paid for it has been made claims of mine presents a very encouraging at present the milling product has pre which half are patented The Near the Walker is the to produce group present and bring into the coffers of developments consist of only where it is claimed there Engle is at least for the stockholdersthat seems dominated the shallow of the life workings the greatest depth 400000 tons of copper ore developed to warrant the expectation The Daly West is company the splendid sum of Mining company $5711492 being and shaft with a depth of 70 At the ive Bears the copper has been of the mine to continue for some capitalized at 180000 shares nearly 4000 feet of work years of par has been feet The property in was developedby traced down nearly 1000 feet to come value of $20 each The officers and performed such a way as to not R of this city who still only Walker All of the product of the mine is directors are: E The Walker company has Bamberger president the meet heavy expenses but to make holds an interest This shaft openeda shares of $1 par value There are 500-000 delivered to the Park City side of the H and domain of treble its apparent worth McMillan vein 50 feet wide at a depth of 70 feet shares in the treasury Other Utah the date of range the tunnel on the 1200 general acquirement through manager W McCornick onThis An assay of feet gave returns of people interested in the company are level finds outlet and the which an through treasurer: John Dern and Hagen-barth unusual campaign bringing per cent copper and $3 in gold and M S out of Browning Will Wattis and Gus the Ontario transportation tunnel the The main office is located at another productive Utah vein sampled 15 perBecker of mine are due to the Ogden ore being dumped into ore bins at its Salt Lake City perseverance energy and of General Manager Tony Supt A O Jacobson and their able carrying greater Copper Walter production three times as much as for over time last year and a the same productof ore nearly four times bonds 8381 big capacity tence What intereston in out 9 7 J silver 40-foot ( -A Jacobson of Resources The The Utah ra first explored by Utah two was ranciscan monks the same year the of Ueelaration Independencesigned was All this country was traubiquitousfellows versed by those of the Bay Xthe trappers Hudson com-pany New State (m Capitol Course associates They took over the property’ with a heavy debt attached but have in this short time cleared this obligation made a mine and now present a statement showing the company only $13000 in debt with $1000 in ore on the way to market Probably no other company in the state can make an equally favorable showing The latest news from the mine is that the work In the east block of ground off the main level where the ore is making in the contact between the white and blue lime is face of excellent ore This gives about half dozen faces in the nine showing ore at present But most importantof all are the in the lower tunnel which has been left for more auspicioustime By driving this several hundred feet further it will tap the entire territory &reat depth and should make a big mine of Alta Con This will cut several feet under the main hundred level and the xvinze the latter sunk last in ore until it broughtin surfacesummer water That most of these deep workings will be practically dry is assured by the old mines on either side which have unwatered the vicinity at great depth With this deep tunnel Alta completed to promises prove rich and steady producer for many years to come Construction) of — r- from 1824 the 1847 in territory settled 1869 Utah possibilities 24 a the completed was In years ago the Union to forty-four U’ 1896 a permanently first railroad The only of the July — first was Pacific zUnion-Central in the arrival to pioneers Mormon when - admitted was states of p Utah enough gilsonite — mineral The about cover the earth this mineralis estimated lias to 'far — Consolidated a at$7000000000 extent of of but value It entirely is all the mineralresources finally rained combined z out will value less not is only a probable that of Utah when exceed in total -guess £ than another -opening 1 Utah’s fa7 v : c ' ' " '' Holds ' ''' ' ' ' $20- aboutthe That's one-sixth all property of worth every in America today Besides Asphalt Great Promise 000000000 of kind this state by will ' e 'r ' It 'to possible certainly is I ' ' : 'J 7 '' 'I ’ ' : this state a s X 1 'X 4- I ’ resulted -"a s ''St t UnitedStates do The crops that last year $9000000000 of the worth were Utah will about 1 some time sum And then Mil allby of ONE-NINTH -yield itself there v for 1 ' ' x say that produce crops worth together about That $1000000000a year would tillable land 22-f require all of the 000000 acres to be making an aver-fe'ae production of $4550 per acre t ' ' 1950 maybe will be the that more! gold silver wWwwMIwwIlOwwMBWwl B i fa: — lead 'copper zinc coal iron gilsonite other minerals to make maybe part of another Billion and thebiggest Justthink of that! £ ’ Utah testate is a good deal of a clip The of 1912 was 18-p)Q£b263 I ' " j -fa- ' the census there 1827180 sheep in were Besides there were kids including the value the 1910 census A By stock on farms in this state was $28781691 'compared with in 1900 The gain in ten The value of years was 84 per cent 'poultry increased in the same $186922 in 1900 to $327908 the rate of increasebeing 754 The gain in Value of ’per cent 29014gbats ofall ‘-lire inspected $21-£’474241 timefrom in'1910 Beeswas 109 lvalue per -cent with the 1 asphalt Wool of:ijl910 By -pounds Utah rock asphalt was not an quantity in the state prior to the recent agitation which broughtit prominentlybefore the public and in its being specified in Salt Lake city contracts but at many that few people now the appreciate enor mous wealth in this hydrocarbon which UtaV possesses deposit begins Utah’s near Thistle in Utah countyand extends to the Colorado line deposits being foundin Utah Carbon Wasatch and Uinta counties’ statistics show Government that the state has within its borders over a billion tons of this asphalt Quality of the Utah material is of the best Both in the Europe and United States it is now that recognized this material makes the longest-lived and most elastic pavements Tests made by public officials of the Utah brand shows that it possesses the blend of constituentmaterials in just the proper for the best paving percentages deposit in Carbon county rom a miles in length and from seventeen a few to 700 feet in width is being shipped to Salt Lake natural rock to pave of 1000000 square yards of the city’s streets this material having been specified for these improvements Government Road Expert B H Burrrell recently pronounced this the biggest thing be had ever seen in a paving material proposition State city officials have also county and the Sunnysidequarries and been astoundedat the amount of the paving material practically at the doors of the city While this industry in Utah is yet it may safely be predicted that young it will become one of the most important which the state boasts before Such years many enormous deposits so near to the doors of the many cities of the west say promoters of means the mining of the material that the Utah product is destined to drive all others from the market Dart world’ unknown s s 1910 A I 7 ' - ft - -i- -I -S J - - t- "J ’ - Z - p J? -y -e - z z - - “ r- A v -1 Y a Z': v 7' V L" - j-- - - James r -J ’ Stewart& '“"ex CoM L’ -Contractors -1 ofthe Irv-this |
