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Show TINTIC MILL HAS PROFITALLE YEAR FINANCIAL CONDITION OF COMPANY COM-PANY IMPROVING; BETTER RECOVERIES PLANNED. Considerable progress was made during the year 1919 by the Tintic 'Milling company. The company has now reached, according to its annual report just Issued, the position where it is able to finance business without borrowing, if operations during the year of 1920 are as favorable as they were during ,1919, at least a portion of the original assumed Indebtedness will be liquidated. During the year the saleB of the mill's product reached a valuation of $40,255.16, which, with other revenues, rev-enues, brought the total revenue up to $640,519.36.' Operating Expenses were $558,587.57, which left a gross profit of $81,931.79. Deduction for depreciation, deprecia-tion, interest and taxes made the net profit $31,370.63. . No labor troubles werfljexperlenced during' the year, although increases In wages have been" made amounting to approximately 20 per cent The cost of supplies also materially. Increased, and it has been very difficult to obtain ob-tain : proportionately Increased treatment treat-ment rates. This has been true particularly par-ticularly as to extremely - low-grade, ores, where an Increased charge would have resulted in curtailing the supply of available ore. During the past year one Important change was made In the plant at a cost of about $15,000. The conveyor system of handling the tailings, which was originally Installed, was found to be unsatisfactory and expensive. In its place there has been installed a sluicing system, which will soon be In operation, and it is expected that the reduction obtained thereby, in operating operat-ing costs, will justify the expenditure. The installation of the necessary machinery and equipment for the electrical elec-trical precipitation of lead has been authorized. What Is received of this metal is now being wasted, and recovery recov-ery values being gold, silver and copper. cop-per. Experiments which have been conducted In the laboratory have proved very successful and warrant the addition of this new feature. Improvement Im-provement in gold recovery has also had the attention of the research staff, and Indications are that satisfactory results will be obtained In due time. Extraction of silver and copper Is fairly satisfactory. The outlook for the future is encouraging, encour-aging, says the report. The ore supply Is reasonably satisfactory, and It has been amply demonstrated that the company can treat low-grade ores at a reasonable profit. |