OCR Text |
Show MORE ORE FOR LARGE MINES Already ascertained to be the largest block of ore ever opened in the prop-erty, prop-erty, a slope la now being opened in the Victoria mine which has added untold un-told value to one of the most noted of Utah s mining properties. So vast is the ore deposit that its limits have not yrt been ascertained, though an average production of 2.r00 tons a month was maintained during 1921 The blp slope In the mine, which ls owned by ihe Hingham Mines company, com-pany, tras developed from the 1 250 to the 1500 fool level. It is notv beins opened on the 1700 level and yet no limit has been approached Values are continuing to hold up at every depth. according to the reports received from j the Januarv operations. In the Eagle and Bluebell mine, on which Ihe Bingham Mines company owns 97 per cent, production in 1921 1 average 2500 tons a month, about half of which was lead ore and the balance' dry or silicious silver ore Inability of the smelters to handle the latter i class of ore necessitated curtailing the1 output of it during a portion of thei year. Some important developmenl work was done in the past year in the Bins ham property of (he company the Ualton and Lark mine lis production consisted principally of iron flux ore. of which about 75 lon.s a day was shipped. ship-ped. Some lead was also produced. The company starts the present year with every indication that it will be a successful one. Their- are abundant abun-dant signs that Ihe lead market will I improve, which will mean conducting' 'operations on a broader scale than was possible during the recent period) of depression in the metal markets j i in 1921 the compan deemed it Inad-viaable Inad-viaable to contiuue payment of di i I dends. in view of the uncertainty then 'prevalent It contented itself with building up a reserve and with bu ine ' I in 50,000 shares of Its own stock at the market price of $10 a share or under, un-der, thereby reducing its capital slock outstanding to 100,000 shares |