Newspaper Page Text
in THE SALT LAKE TRIBUNE, SUNDAY MORNING, MARCH 5, 1911 .
I I Mines and Mining-Activities in Ore Districts of Utah!
In FLDREilCE, IL iiE
Company Closes Year Showing
Double Cash Surplus Over
PLENTY OP MONEY
FOR THE DIVIDEND
I Statement of Reserves Not
Stated for the Reasoms
Given in Full.
Special to The Tribune.
GOLDFIELD. Nev.. March 4. The an
nual meeting' of stockholders of the Flor
ence Goldfield Mining: company was held
last Wednesday at the company's offices
In Goldfield, when the former officers and
directors were re-elected and at the di
rectors' meeting, Immediately following, a
dividend of 10 cents per sharo on the
outstanding stock was declared, amount
ing to $106,000, payable April 2. The
transfer books of the company will re
main open until tho evening of April 1.
as provided by the laws of tho state of
South Dakota, under which tho Flor
ence company Is Incorporated. Thl3 will
I he the eighth dividend of like amount to
be paid Tbv the Florence company and
1 will bring the total disbursements of prof
its to the sum of SS40.000.
Reports for the calendar year ending
December 31, 1910. were submitted by
the president, treasurer and general su
perintendent, and on the whole, show that
the property is in excellent condition
while developments since the report was
prepared have been of a most satisfac
tory character. The treasurer's report
shows that nt tho beginning o the year
the company had a cash balance of 532.
31S.34 while at the end of tho year this
balance had been Increased to 51S3.
706.59, and early in the year a dividend
of 10 cents per share was paid.
Good Cash Surplus.
In the year the company's mill treated
52.027 tons of the average value of $11.35?
per ton and at a total cost, including
taxes, of $7.02 per ton. The total of new
development was 11,607 feet at a cost of
57.57 per foot. Total revenue from bul
lion and concentrates, Including that
from products of December, 1909, for
which returns were received after the
closing of accounts for the year was ?5S6.
539.41. and total expense, including laxos,
5396.631.9S. When the forthcoming divi
dend Is paid, April 2. the company will
have in Its treasury the profits from Its
I operations during the three first months
of the current year In addition to the
money remaining after the payment from
the balance quoted above.
The report of TVlllls Lawrence, general
superintendent, describes the work ac
complished which has included sinking
the main shaft from its former depth
of 350 feet to the 550-foot level and en
larging it to two compartments and man
way. Since this time the shaft, of the
same size, has been sunk to a depth of
700 feet and is bolng continued to great
er depth with a view to eventually at
taining 1200 feet depth. A large part
of the ore mined has been taken out
through the Little Florence shaft, sunk by
lessees, and conveyed to the mill bins
over an aerial tramway. The enlarged
shaft is equipped with two automatic
, skips, each of two tons' capacity, that
were especially designed and built at tho
company's shops, together with pipe col
umns and electrical bell signaling sys
tem, rendering It one of the best equipped
mining shafts In the state.
Work and Reserves.
Tho Florence property has something
over 70,000 feet of shafts, winzes, mises,
drifts and crosscuts, driven chiefly by
some fifty lessees, between tho surfaco
I and the 500-foot level. In addition the
company has done over 15,000 feet of
development work underground which
has resulted in showing that the lessees
had thoroughly explored all the ore
bearing area, near the company work
ings, to a depth of 500 feet. In only ono
Instance, the report says, was an ore body
discovered that had not been found by
the lessees and this was a ledge, now
i sloped above the 250 level, 100 feet north
of the main shaft. This has been stoped
121 feet wide and 200 feet in length and
produced about 20,000 tons of the ore
trented during the year.
Regarding the ore reserves of the mlno,
tho superintendent treats this question
exactly as the Consolidated engineers have
done, saying that It is impossible to ur
rive at an estimate of the tonnage and
value owing to the extreme irregularity
in size and outlines of the ore bodies and
the distribution of gold in them. In the
case of the Florence company, he says,
the fact that the lessees have extracted
the richer portion of tho ore shoots above
tho 500-foot level makes It evon more dif
ficult to attempt to form an estimate
of the amount of profitable ore left in
workings above such level. Prohablv
enough low grade ore can still he mined
from tho upper lovela to keep the mill
aupplied during the first few months of
the year while the downward extension or
' known ore shoot3 is being opened and
possibly now ore bodies developed below
I A Special Medicine for Kidney Ail
ments. Many elderly peoplo have found in
Foley's Kidney Remedy a quick Tclicf
and permanent benefit from kidney and
bladder ailments and from annoying
urinary irregularities duo to advancing
years. Isaac N. 3?ogan, Farmer, ,-dTo.,
says: Foley's Kidney Remedy effect
ed a complete euro in my case and 1
want others to know of it." Scliramm
Johnson, Drugs, five stores.
I ' Bailers
SALT LAKE CITY
Hi service I
Hj A chocking account with this hank 5
will prove a "benefit to you in all
of your business transactions. ?
( We ask the privledgc to sorvc you.
H , The Oldest Bank in Utah.
l; i Established 1859.
' Capital $250,000.00 j
, Surplus 125,000.00 j
IK DAY HAS NEW
New Ore Means Big Tliiugs for
This Old Tintie Profit
That tho recent strike on the 500-foot
level of the May Day properly means an
entirely new mine for this company, Is
the verdict of everyone who has been
fortunate enough to visit this mlno In
tho past few days. Tho values have been
Increasing with each round of shots ns
the management has reached further m
from tho edge, and samples reported
Saturday gave the following average val
ues: Lead, 30 por cent; silver, -7 ounces;
gold. SIUIO per ton.
The impression is very well settled that
this ore Is a continuation of thai noted
Yankee Consolidated oro body which,
several years ago. was known as tho
Jewel Box, and from which tho Yankee
extracted the greater part of Its divi
There Is every reason to believe that
this new ore body will gain in strength
with depth. In raising from the 500-foot
level for twenty feet, the ore- was found
to branch out in two directions, both
forks being full of possibilities, while
their juncture at or near the fiOO prom
ises to reach deeper In a far more satis
factory condition than that dlrlosed by
the raise. It Is a splendid oic shoot and
the company should have fohio of this
rock in the market tho new week.
Superintendent 0. C. Griggs and George
Castleton have taken a lease on the May
Day dumps. In which it Is psliinalod
there Is between $50,000 and S 100,000. and
they will install a cyanide plant for the
treatment of same.
LAST WEEK'S MARKET
BEST OF MOVEMENT
The best authorities assert that the
week closed yesterday noon on lhe Salt
Lake stock and mining exchange was the
best In the recent, movement. They base
their claim on the fact that thero has
been considerable proilt taking, and In
several instances largo blocks of stock
were thrown upon the market for this
purpose, but Ihe reaction whenever no
ticeable was orderly and without the loss
of more than a point or two.
All who expected a sharp break have
been disappointed. As a matter of fact
the reports from the various feature
mining properties have been uniformly
favorable during tho week, and strikes
have been followed by ore shipments or
preparations to ship which are the best
possible proof of their merit. Market
predictions generally are subject to
change without notice, but many are npt
lacking, who study local conditions close
ly. In the conviction that the satisfactory
shapy of the exchange has come to stay
Sales Saturday morning reached a to
tal of 53,605 shares of stock, the mar
ket value of which was 5ll.S07.77. Tho
business for the week was G3S.G97
shares, selling value 5102,050.20.
The following were the closing unlist
ed and Il3ted stock transactions:
I Bid. lAsked.l Sold For.
Gold Chain S .55 $ .60 $ .52 ??
King Con. . 1.25 1.40 1.25 (fa
Opex 14 .10 .15 ?2
Thompson .. .15 .20 .15
Ohio-lty. . . .55 .70
BIng. Cop 12
. I Bid. lAskcd.
Beck Tunnel $ ,2 5 J 725A
Bingham Amal 00 .0C3
Black .Tack 13 .11
Bullock 03J .04i
Carlsa ... ., 17
Cedar-Talisman 10 .11
Central Mammoth 10
Century .01 .10
Colorado Mining .57 .50
Columbus Con- 10 .11
Consolidated Mercur 03 ..'
Crown Point 09 .09J
Daly-Judge .' 4.70
Dragon Iron .25
Eagle's Nest 10
East Crown Point 01 .oli
East Tintlc Con 02
East Tintlc Dev I .0031
Emerald ... , IS .20
Grand Central l.oo 1.10
Indian Queen 01 .04
Inyo Gold 02 .05
Iron Blossom 1.22J 1.27J
Iron King ... .05 .......
Joe Bowers 00.......
King William 12" .14
Lehl Tintie OH .024
Little Bell 49 .50
Lower Mammoth 11 .12
Mason Valley S.75 D.25
May Day i .17
Mineral Flat Oli .013
Mountain Lake 0CJ ,07i
Mountain Lako Ex 03
Masonic Mountain 29 .21
Nevada Fairview io
Nevada Hills 2.C5 2.G7J
New York 14 .in
North CllfC io
Ohio Copper ; 1.575 1.00
Opohongo 17 .IS
Ploeho Metals , . . .05
Plutus OSi .08
Prince Consolidated- 05 .75"
Ploche Domljohn 17 .181
Seven Troughs OH .05
Silver King 1.75 1.S5
Silver Shield 05 .08
Gioux Consolidated 37 .38
South Columbus Con ..... .10! .12
South Iron Blossom . ... . , .01$ .011
Swansea Consolidated .0151 .071
Tintlc Central 074 .08
Tintlc Combination 031 .04
Tintlc Empire 033
Uncle Sam Con OS .09
Uiuh Consolidated 01 .05
Victor Consolidated 04 .Oil
Victoria Consolidated 1.12 1.15
Western Nevada , .09" .12
Ycripgton Copper 03 . 7.
Bock Tunnel. 500 at 25ic; 2000 at 25c,
Black Jack. 500 at 14c; 700 at 14c.
Mullock. 5000 at 4c.
Cedar-Talisman, 7150 at lOJc.
Colorado, 3500 at 57c; 800 at 5Sc.
Iron Blossom. 700 nt $1,25.
May Day. 3500 at 17c: S40 at IG&c.
Nevada Hills, 100 at $2,073.
Opohongo. 2000 at 17Jc: 500 at ISc. '
Plutus. 1000 at Sc: .0000 at SJc.
Sioux Con,, 300 nt 38c.
Tintlc Central. 1000 at 7ic; 1000 at 7c.
buyer sixty days; 1000 at 7!c; 1000 at 7Ue
buver sixty days. '
Tintlc Combination. 1000 at 33c.
Uncle Sam, 500 at 09c; 1400 at 70c
Utah Con.. 100 at uc.
Victoria, 500 at $1.15; GOO at $1,125.
Colorado. 100 at 5Sc.
Crown Point, 500 at 9ic
East Crown Point. 1000 at lie;
Iron Blossom, 2500 at 51.25.
Now York, 500 at 15c.
Demijohn. 400 at ISc.
Utah Con., 915 at 4Jc. i ' '. '
Swansea, 1000 at 7c. . -.'-7
Victoria, 500- at S1.12J. .
Regular, 42.090 shares, for J3SE2.85.
Open. 11.515 shares for $1954.92.
Total. 53.003 shared for S14.S07.77
Week's totals. G3S.G97 shares for $1C2,-
Ore and Bullion.
The ore and bullion report for Satur
day, given by McComlck & Co.. was as
i lollows- On received, $20.0ui; bullion
, shljiuid, 520,'JUO, total, 510,000.
FfSH SPIES HAS
. VEfiYGODD STRIKE
Nclson-Cufler Lease Shows Fine
Values in the Emma
The Ncleon and Culler interests, oper
ating tho Emma property at Fish
Springs, Utah, are reported to have
broken into some fine ore on tho 200
foot level of this noted old producer.
.' These- interests aro working under a
lease, and for some tlino the old work
ings; havo been cloancd out and the
mine, long Idle, placed In a condition for
modern mining effort. No extent of the
oro Is yet given, but tho operators are
taking out rock and putting It to ono
side for shipment to the local market.
Llko tho old-time Emma ore, thl3 new
rock runs high in silver, assays reach
ing to 312 ounces per ton being recorded
associated with as high as 50 per cent
Fish Springs is the home of the Utah
Mine, a proposition which has paid Its
own way from the day a pick was first
struck Into the ground. This company
is making regular shipments to tho local
market, and thorn Is si sufficient tonnago
In view to guarantee a long life to the
property. The camp should be a gen
erous producer In the summer with the
addition of the Emma territory. Nelson
and Cutler are well known Salt Lake
EASTERN MARKET IS I
BADLY OUT OF GEAR
James A. Pollock & Co., hankers and
brokers, furnish the following, received J
over their private wire yesterday after
noon: Paine. Webber & Co. letter, Boston: Al'
oys. were centered on Washington and
there was no Interest in the local stock
market. A few shares wre traded In
in the short session but the market
showed no trend one way or the other.
The certainty of an extra session of con
gress was taken to bo a bear factor but
local market is so low that It offers no
opportunity for bear raids. The Calumet
,t Hccla merger proposition will bo voted
on (ho middle of next wk and there
Is no chance of activity among the cop
pers until that is out of the way.
Logan & Bryan stock letter. New York:
At the proseni writing It perhaps would
not be consistent to analyse tho day's
happenings al Washington, particularly
as reports have been rather conflicting.
It was rumored that the Canadian gov
ernment had requested that no aftion
be taken on llu- reciprocity matter at
this tim. wliich. If tru would obviate
the necessity of calling an extra session
of congress. It was also rumored that
tariff hoard bill failed to pass, and
tho re for. If no extra session is railed
the business community can brentho more
freely and extend their operations be
tween now ami December 20. nt which
timo thi Sixty-second congress is sched
uled to convene. The active Issues, that
Is. Atchison. Union Pacific and Southern
Pacllic closed somewhat higher than last
night and tho declines in Steel and Read
ing wore only nominal. However, the li
quidation in quit" a few of those, issues
which of lato have been subject to pool
operations was quite heavy. While there
does not at present appear to be nny oc
casion for suggesting liquidation of Is
sues of those corporations which have
demonstrated their ability to earn and
pay a fair return, still the fact remains
that a neutral attitude is consistent with
existing conditions. A great many ex
pect decisions In the trust cases Mon
day. Gallagher. Ne' York: Nevada, Utah,
Glroux and Inspiration a fraction lower
on traders' selling. Ray Consolidated,
Miami and Chino steady. Rubber off
nearly a from high at 32J. American
Tobacco and Standard Oil steady.
MORE DIVIDENDS DUE
FROM C0BUR D'ALENE
Special lo The Tribune.
SPOKANE, Wash., March The
Federal Mining and Smeltlnc company
will disburse Its regular quarterly divi
dend of 12 per cent, or $210,000. on its
preferred stock March 15. Tills pay
ment brings the total dividends to $S.
719,750. The company owns and oper
ates three groups of mines in the Coeur
An important oro zone was encoun
tered in the Morning mlno al. Muilan
some time ago and now gives promise of
becoming ono of tho most piolitable of
tho company's holdings in northern
Idaho. Another property In the Inlund
empire to decline a regular quarterly
dividend Ihis month Is owned by tho
Lo Rol No. 2 company at Rossland, B.
C. The company, which Is controlled by
English capital, will pay a dividend of
two shillings a share, or $00,000, bringing-
tho total to $1,401,420.
Tho lower workings show more bodies
of high grade ore than were ever be
fore In sight at ono lime.
MINES BUREAU WANTS
Colonel George W. E. Dorscy. one of
the officials of tho American Mining con
gress, has received word from Secretary
.1. P. Callbrcath, wlio has been In Wash
ington for some time past In the interests
of the new bureau of mines. Ho writes
that the sundry civil bill carried $475.
000 for this bureau, and Callbrcath and
others Interested In tho mining industry
hoped lo have $85,000 added to this In or
der to carry -forward uomo new work
that otherwise would bo Impossible.
Secretary Callbrcath is making an ex
tra strenuous effort while In the east
to bring about a firmer and closer rela
tion between the coal and metal mining
industries. Tho congress lias the hearty
support of the metal miners and tho oil
oporalors, but not the part Icipal Ion on
the part of the coal operaloni I hat Is de
sired. It Is hoped to make Ihis especial
phase of the congress one of the Items
to be emphasized by the president, John
Dcrn, and his associates.
ANOTHER ECHO FROM
THE GIROUX REPORT
Another echo from the rccentlv Issued
report of the Glroux Consolidated com
pany was hoard Saturday by stockhold
ers, this being that the porphyrv oro
value of 1.3C pur cent copper had refer
ence to the net recovery from the
10.000,000 tons claimed now blocked out.
The report took this tonnage and figured
on the recovery of 70 per cent of tho
copper values, and tho recovery, as stat
ed, was 1.3G por cent copper to the ton
of crude oro.
II. S, Joseph Is visiting Beaver county
on mining business.
Ge'orgo E. Gunn left Saturday for a
throe weeks' trip into southern "Califor
nia. W. 11. Aldrldgo of the Gunn-Thomp-son
company ha:i established offices in
Los Angeles, In tho Central building.
General Manager Levy of the Ely
uonsolidatcd Copper, has received word
that tho west drift on the-500 level of
tho Zack tihnft is breaking through oro
assaying 12 per cent copper. Thin grade
of ore has lasted now for three rounds.
'Iho soutli drift when last assayed ran
close lo 5 per cent copper.
Tribune Want Ads.
Ucll Main 0200, ludepcudeut 3G0.
Shareholders Advised of the
Significant Changes in
DRAINAGE PLAN IS
MOST IMPORTANT ONE
Company's Finances in Good
Shape and Big Campaign
Stockholders of the Daly-Judg Mining
company are In receipt of tho annual re
port of the company, a report which re
flects, without question, the most grati
fying conditions in the history of this
Park City producer. Tho year's achieve
ments aro handled In a completo man
ner in the following report of General
Manager G, W. Lambourne:
"In directing your attention to the af
fairs of your company the past fiscal
year 1 desiro to call attention to the
llnanclal conditions first.
'"The company began the i'ear with
222.u3S.l; cash on nana, closing the
period with $310,215.20. a net gain of
$94,177.05. This is especially gratifying
in view of the extraordinary expenses in
curred, including $19.S03.71 for construc
tion, and $30,000 in tho acquisition of iho
new draining accommodations.
Surplus Earns IntercBt.
"It will he noted that tho surplus
earned S14.2IS.09 in interest, or within
$21 of meeting tho general and legal ex
penses and taxes for the year.'
"Negotiations between your company
and the Ontario, Dalv and Dalv West
companies were brought to a successful
Issue :n June. 1910. by which tho Dalv
Judgo companv acquired full drainage
rights through the Ontario tunnel for a
period of ten years, on extension of which
period may he secured at the option of
your company. The annual cost for this
privilege, is $12,000. and bv the terms of
the contract three years' rental were
paid In advance. It will not be necea
sarv thereunder to make further pay
ments until November. 1913.
"The agreement called for the extension
of the Dalv West 1550-foot level work
lugs and the Ontario drain tunnel to the
Daly-Judge line. The 1550-foot Daly
West level corresponds to the 1900-fool
level of the Dnly-Judce. and a drift has
boi-n extended from the former to a point
opposite our main shaft. Preparat ons
are now under wav to sink tho shaft to
the 1900-foot level and make connections
with this drift. The Ontario tunnel is to
reach the Dalv-Judce n,0D"lyma
Marcli 1. 1912. and it eventually will con
nect with the shaft workings al or near
the 2500-foot level of your nronertv.
Ideal Drainago Secured.
"I cannot Impress too positively upon
the directors and stockholders the . im
portance of this arrangement, it atforr s
the Dalv-Judgc mine ideal dra nage facil
ities, allowing for the first timo In ho
history of the property unlimited opportu
nities for development in all directions
and nt a comnnraUvelv low cost.
"The Dalv-.Tudge company is the owner
of 10S.39S out of the 550.000 shares of
stock Issued by the Snake Creek Mining
and Tunnel company In payment for
properties acquired. Tho Snake Creek
tunnel is being driven at a very siitis
factorv rat of speed, and It Is now about
3000 feet from portal to breast. Several
fissures heavily impregnated with Iron
have been encountered In this distance
and a flow of water developed varying
in volume from fifty to one hundred gal
lons per minute. A very Interesting
mineral country lies directly ahead of the
Tunnel iu Virgin Soil.
"Eventually this tunnel will reach tho
extreme back of the Daly-Judge property
at a vertical depth or about 3000 feel,
and at a point fully two miles distant
lrom the shaft. The development possi
bilities of the tunnel, therefore readily
can be appreciated.
"When these drainage plans are fully
realized tho Daly-Judgo property will
have the benefit of one of I he most satis
factory systems possible to secure. The
future policy of mine operation now can
be far more" comprehensive than ever bo
fore. "In view of the past year's favorable
disclosures and with the advantages long
needed for reaching deeply into the ore
system of the mine now assured. I am
happy to state that your company faces
what promises to be one of the most Im
portant and gratifying years of its his
tory." The financial statement follows:
Balance January 1. 1910 $222,035.15
Zinc middlings 00,038. S9
Iron middlings 32.4S3.U7
Interest earned on surplus.... 14,215.09
Total sales and earnings. . .$566,3 IS. 89
Mine account $153,416.30
Mill account 40.109.05
Prospecting and dead work... 143,020.29
Oro expense 30.294.35
Construction . 19.S03.71
Surveying and engineering.... 2.649.45
Office expense, taxes, otc 14,272.09
Ontario dralnaso 3C.000.00
Balance on hand 316.21H.20
Tho report Itself 13 very complete,
containing maps of the ground, of tho
ore bodies and a cros-s-scetion by which
stockholders cun at rmco grasp the un
derground oro conditions.
The oro statement shows: Crude ore
sold, 9106 tons; oro concentrated, 47,002
tons; ore extracted, 5C.10S tons, all dry
weight. The crude ore sold for $26,11
per ton; conccntrutca. S2S.45; zinc mid
dlings, $5.69; Iron middling?;, $12.91.
In 1910, the production was as fol
lows: Ounces silver. G33.539: minnfs nnUl.
1253.19: pounds lead. 10.75ti.S41; pounds
Inc. 9.SS0.525; pounds copper, 393,170,
value of total. $552,100.80.
Since organization, the company has
produced 2.601,537 ounces silver, S053.ll
ounces gold. 60,843,094 pounds load, 45,
055.043 pounds zinc. S94.932 pounds cop
per, all having a value of $3,038,256.37.
General Superintendent R. T. Mason
gives a detailed account of tho year's
operations on tho various levels, but the
future holds so much for the company
with tho present drainago facilities that,
interest naturally attaches to what Is to
come rather than to what has passed.
Developments as a rulo were very satis
factory. The report shows that ' several
Important Itoms of surfaco equipment
were Installed in tho year and that at
the mill a courso of experiments is bo
lng brought to a successful conclusion
by which future mill operations will be
superior In efficiency and cost.
The Utah Ore Sampling company Sat
urday released 3 cars of oro from Utah,
3 from Nevada, and 1 car from Idaho
Tribune Want Ad3.
Bell Main 5200. independent 300.1
GUEST PROFITS OF
THE OIL IfflUSTBY
California Success Makes the
Utah Operator Eager lo Be
In 1910 the mining companies of Utah
distributed $S,75S.S73 in dividends, and in
the samo period the oil companies of
California paid $10.5SS.694. Since the dis
covery of California oil, dividends to the
extent of $37.3S5,67S have boen distrib
uted, which docs not Include the many
close corporations like tho Standard Oil
and several British Intorcsts which never
report their dividends, nor of fortunate
Individuals operating without Incorpor
ating. Utah Interests, therefore, look all the
more longingly upon tho undoubted mer
its of the Utah suctions whero oil Is
known to exist, but which lacks capital
; and confidence for dovolopment Noth
ing pays better than oil. and nothing
will placo tho state forward more quickly.
What 13 especially desired by Utah oil
operators right now, however, is favorable
action on tho part, of the cover'nment In
the matter of perfecting titles. Ono well
known oil man stated Saturday that ho
knew of certain strong capital ready and
eager to enter the San Juan field, but
refused to budge until congress had taken
such action as to guarantee to the man
who develops ground that he can havo
undisputed possession of his interests.
EUREKA AND PALISADE
MATTER STILL PENDING
There has been no action as yet by the
stockholders of the Eureka & Palisade
Railroad company, whose special meet
ing was arranged for the tlrst week in
the past, month. No meeting was held
and adjournments havo been taken from
day to day In the hope that some
thins: dcnnlte would be brought to light.
It is this ro.-ul which now rests in the
possession of Georce W. Helnls. general
manager of the United States Smelting.
Refinlnr and Mining company, who
purchased the same at the sale several
weeks ago. The stockholders still have
their equity of redemption, and tho meet
ing was called for the purpose of either
buving back the road or relinquishing
their equity. In the latter case the
United Stales company undoubtedly
would reconstruct the line into Eureka,
where It owns extensive mining proper
ties, now idle by the nonoperatlon of the
UNCLE SAM ORE BODY
DRIVING FOR RICHMOND
As the Uncle Sam Consolidated man
agement drives nearer the Rlehmond
and Anaconda, south line, the chances
for the latter securing the ore now be
ing followed grow brighter and brighter.
A shipping grade of ore is had In this
work twenty feet wide and m.een feet
thick, if recent reports from tho Tintlc
district are to be credited, while insid
ers express satisfaction with the exist
ing conditions. The Richmond and An
aconda control, or four-fifths of the
slock, belongs to the Uncle Sam com
pany. Nevadnc in San Francisco.
James A. Pollock & Co., bankers and
brokers, furnish tho following, received
over their plvate wire yesterday after
noon: Bid. lAskod.
Ophlr $ 1.15 $ 1.171
Mexican 1.70 1.72j
Gould and Curry 12
Consolidated Virginia 1.10 1.121
Savage OS .10
Male and Norcrosa '. .. .15
Yellow Jacket 30
Belcher 1 50
Confidence 40 .46
Sierra Nevada 24
Union . .IS .49
Potosi : 20
Tonopah Nevada 8.37b
Montana Tonopah 90
Tonopah Extension J.27i 1.30
MacNaniara 13 .14
Midway 12 .14
Tonopah Belmont 6.00
Tonopah North Star 06 .07
West End Consolidated ... .54
Rescue OS .10
Jim Butler 26 .27
Columbia Mountain 02 .03
Jumbo Extension .37 .39
Booth .10 ,il
Blue Bull.... .04 .05
Silver Pick' 05 .06
Florence 2.15 2.171
Combination Fraction ... .12 .13
Kewanos oo .07
Red Hills 02 .03
St. Ives 17
Lone Star .. . 02 .03
Oro 06 .07
Atlanta 13 .14
Yellow Tiger 05
Goldfield Consolidated .... 0.771 0.S74
C. O. D io
Mayflower Consolidated .. .05 .00
Tramp Consolidated ...... .02
Manhattan Consolidated 04
Dexter 05 .06
Nevada Hills , ,-. . 2 80
Pittsburg Silver Peak 75 go
Eagle's Nest 02 .
Round Mountain 40
Rawhldo Coalition 03
San Francisco Oil Stocks.
James A. Pollock & Co., bankers and
brokers, furnish the following, received
over their private wire yesterday after
noon: I Bid. AskcdT
Associated Oil J$47.S5 $
Caribou . . .. 1,50
Illinois Crude is -'0
Monte Crlsto 2. 00
Mascot 02 '.
New Pennsylvania 51
Palmer 1.471 1.50
S. W. and B .25
WK. Oil 3.00
MS A. POLLOCK 8 CO.
Bankers and Brokers,
333-335 Soutli Main St.
SALT LAKE OITY, UTAH,
New Felt Building.
Correspondents, Members Novr York,
Philadelphia, Denver, San Francisco
and Boston Stock Exchanges, Chicago
Board of Trado and New York Cotton
Privato wires to all tho world.
Orders executed in any markot.
Listed stocks carried on liberal terms.
Orders in Utah mining and commer
cial stocks given special attention.
IITOBIS ORE MS
Many- Arc Wondering What
Neighbors Will Get Some of
There la a great deal of speculation
rife In Salt Lake and Tintie in regard
to tho Blcnlflcance of the recent ore de
velopments In tho Victoria Consolidated
for tho neighbors of thb proposition.
What the strike means to the victoria
company lo well known, but if It Is a
new resource thero are somo adjoining
properties which stand a chance to se
cure a portion of what Is proving to bo
ono of tho features of the Tintlc dls-
It Is understood that tho Victoria de
velopment has given Iho Grand Central
company a. hint and that some new work
Is en ronto to tho point where this ore
In all logic should make Its appearance.
Then thero aro tho Boirlo & Bine Bell
and tho Chief Consolidated properties,
which aro located in a manner highly
suggestive of future fireworks.
It all goes to show that Tintlc in a. dis
trict full of surprises and opportunity,
and there aro those who bellevo the
camp Is duo with a now string of devel
opments at various points which will
still further strengthen the position of
ANOTHER MERGER DUE
IN THE COMING WEEK
The Bullock stockholders will meet on
March G for the purposo of passing on
I he Tintlc Combination and Tintlc Em
pire consolidation, the Combination hav
ing Its meeting March 7. and the Empire
the following day. This merger will bring
together ono of the largest acroages of
the Tintlc camp, located In eastern Tin
tlc. and tho interests behind the deal are
determined to expend a round sum of
money on demons! rating tho mineral pos
sibilities of this ground.
New York Mining Stocks,
James A. Pollock & Co.. bankers and
brokers, furnish the following, received
over their private wire yesterday after
noon: NEW YORK LISTED STOCKS.
1 Sales.l IT. L. Clae
Goldfield Con 2.000! 7 C 65
Nevada Con 500 ISi 1?5 J,Sj
Tennessee Copper . . 300 37 SfiJ 37
Utah Copper 2.300 413 43g 43g
NEV YORK CURB RANGE.
I Sales.l II. I L. IClse
National Copper 2 2 1 2
Glroux Con 2,000 6 tii 1
Inspiration- Copper.. 700 71 IV 73
Miami Copper S00 10S 10J 1?S
Nevada. Utah 5.000 1 3 1
Rav .Central 2.500 13 1J 15
Rav Con 500 17 j 17H 173
Yukon Gold 700 3a 3S Si
Chino Copper 1.000 21? 215 215
Ohio Copper 1.000 IS U 11
New Keystone 21 2 2
Poulh Utah 1 I 1
Mason Valley 0 Si 9
Braden Copper -4 ? 3J
Eiv Central tc 5c ic
Elv Con 3.500 29c 26c. 20c
La Rose 1.000 -1 It 45
Nevada Hills - 000 2J 2S 22
Kerr Lake 200 6$ 0 .61
Int Cont Rubber 800 31a 31i 3U
NEW YORK CURB CLOSE.
Chino Copper J$21.12aJ$21.37S
Davis Daly 1.37i( 1.55
Ely Central 05 .00
Ely Consolidated 27 .30
First National Copper 3.00 2.25
Glroux- Consolidated 0.125 .20
Inspiration 7.02i 7.S7J
Yukon Gold 3.S7j 3.95
Miami Copper 19.50 19.0iJ
Nevada Utah ; 95 1.00
Now Keystone 2.00 2.50
Nipissing 11.00 11.12i
Ohio Copper : 1.55 1.621
Ray Central 1.55 1.62i
Ray Consolidated 17.00 17.37
La Rose -1.75 -1.S7J
South Utah .S7J 1.00
British Columbia Copper.. G.00 G.12
Bay Stale Gas 50 .625
Braden ;.. 3.S7J -J.00
Cobalt Central OS .0SJ
Ely Wltfb 05 .10
Foster Cobalt 02 .03
King Edward I .06J .12
Mason Valley S.S7J 9.oo"
McKInley-Darragh 1.75 1.S75
Montgomery Shoshone ... .06 .124
Nevada Smelter 06$ .125
Silver Leaf 02 .04
Silver Queen 02 .03
Ontario 1.00 2.00
Bingham Central-Standard .10 .20
Sioux Consolidated 3S .41
Colorado 53 .65
Iron Blossom 1.23 1.26
Nevada Hills 2.62$ 2.75
Boston Copper Stocks.
.Tamos A. Pollock &. Co.. bankers and
brokers, furnish the following, received
over their privato who yesterday afler
noon: BOSTON COPPER RANGE.
. I Sales.! II. L. IClse
Butte Coalition IS 172 IS
Cnlumet & Arizona . 42 GH 511 5U
Chief Con 700 13 13 l
Copper Rango G6. 60 J 06i
Daly West 3J 3 3
Davis Daly GO 1J 13 tj-
East Butte 12 121 12t
Glroux Con GJ 61 6i
Grnnby Con 34 33 34
Greene Cananea. ... 710 6i 6 6
Hancock 223 228 223
Indiana Copper . 270 12 12 12
Isle Royale 13" 12i l'J
Lake Copper 36 3.- 3f,j
La Rose 4J 43 4J
Mason Valley n 0
Nevada Con 100 1SS ISA ISi
Nevada Utah 97c 05c 95c
Niplsslng in U 11
North Butto :.. 155 2S3 28 2S
North Lako 63 fij gj
Superior & Boston .. 730 4S 4S 45
Trinity . 4fl .jj .jj
U S Smelter com ... 110 33!! 33 33'J,
preferred 17A, 47.J 471
Utah Con 323 138 l.'U 13
Algomah 7 q 7J
Ray Con . 175 17 17
Inspiration 73 1 7S
BOSTON COPPER CLOSE.
I Rid. lA.skndT
Parrot $12.00 $13.00
Shannon 11.00 lt.no
Victoria 1.50 2.00
Wyandot 1.25 1.621'
Keweenaw 2.00 2.50
Arcadian 2.S7J 3.00
Massachusetts 6.75 7.00
Winona S.50 S.75
South Utah 9S .99
Michigan 2. GO 3.00
American Zinc 23.00 I 23.75
Kerr Lako G.375 6:50
Miami 19.50 I 19.75
Ojlbway COO I 6.50
Utah Apex '. 2.50 I 2.G2A
Boston Ely .' SS I .90
Chino 1 21.25 21.374
Majestic 31 .34
Nevada Douglas 2.00 2.25
Ohio Copper 1.55 1.62i
Belmont 5.95 6.121
Florence 2.12 2.25
Chemung 5.75 6.00
Oneco 1.37$ 1.50
South Lako 5.S7J1 6.12s
Bcsole . . 1.00 I 1.50
Bohemia 1 3.50 1 3 S7
ra-tns 20 21
Tlifdllllllio ' 4 7, ' -1 .S7i
Curtailment hy the Porplijra
Companies Cuts Profits to Ik?
the Quick. l
EASTERN COMMENT ' W
ON THE SITUATloli
Shows Why Many Officials mm
Not Approve of the
The policy of curtailment on the pl
of tho modern porphyry copper prapojilLf
tlons is telling naturally In the carnlnjKf'
and it would also tend to establish iK?
truth of tho aesertion that the PorphynlHi
aro forced to go full-tilt unless tbBt
want to run at so clo3o a margin of prolHP
that there is little enjoyment In tX
In the March 1 issue of tho Wall BtrsR
Journal thero la a long: discussion rBP
gardlng the copper situation and aboKh
tho Utah Copper, Nevada ConsolldatK
and tho Anaconda group of propertlesE
shows, for Instance, that the JaTuuB:
production of the Utah Copper compajB
was at the rate of only 66,000,000 pounBT
per annum. Counting the cost of pR
ductlon at Si cents a pound, the ii cfln-fc,
a pound margin gives annual eamlnglR
of 53,300.000, to which should be addjH
the $1,500,000 received each year froR
the Nevada. Consolidated dividends. ThBP
gives total net returns of S4.S00.000 fK
dividend requirements of 54,500.000. .Bf
In tho month of January the NevaBf
Consolidated company produced at tiBFf
rate of about 63,000,000 pounds per mBJ?
num. at a cost per pound of 7 cenV
leaving a margin of profit of 5J centa.P
a. 121-ccnt market. Thin meana netjBJ
turns' per annum of about $3,300,WwJp
against dividend requirements of ajSY
proximately $3. 000,000 per annum.
Tho Anaconda interests ars haadllMp?
about 260.000.000 pounds of copper PM
annum, at a production cost of 9t cenwJJ
leaving a margin of 3i cents, earnl
about $9,100,000 per annum to dlvi!sM
requirements of 58.440,000. The AmalB
mated company gets 56,000.000 annuaMJ
from-the Anaconda, and It pays out H
000.000 of dividends a year, so the
called old-fashioned propositions ssqBF
Ingly are doing better than the PflBJ
The curtailment policy from tho MBPP
phry standpoint Is not much of a roBJt
cess so far. sB?
PWrUS PROPERTY IN S
Stockholders of the Plutus company 'ML
not take kindly to the gentle hammertBB
the property has been subject-d to In.tflK
past few days. They assert that.'t'
mlno occupies one of the most EtragBR
positions In the Tintie district. and'thBt?
one reason the control has not be&
tossed about of late months Is that Tt ItSh
nailed down so fast thero was no. 'arT.Wj
The metal quotations for SaturdBJ
posted by McCorniek & Co., wer9 as tmM
lows: Silver, 52Jc; lead. $4.50; Pwg
Books on MmmgW
THE MINE EXAMINER AND PRfiJ
PECTOK'S COMPANION, by G. W. 3Wf
ler. E. M., C. E. Every mining iw
should have this book; tells more abqgjg
how to prospect for and determine jVfl
value of mines than any other book wrMEL
ten. illustrated; price S3. BENS0IM
COMPENDIUM, by H. T. Benson. TBJ
practical every-day things the muMj?
wants to know, mines, minerals. waVJy
measure, tanks, piping, cheap methodlL
roasting ores. etc.. Illustrated; price '.Wat
SECRETS OF THE ROCKS, by S.
Frazler. Prospecting, placer and quaflHI
mining, ore testing, mineralogy, chenaB
try. etc; prlco 52. HALL & WILLIAfJi
1742 Stout St., Denver. JS?
CBEGOBV S eOBERTSOB
Civil Engineers and
Con trsc tors fE
SUITE 521-522 MclNTYRE BLDOK
Investigations, reports, survejiHp
maps and plana for 1k
HYDRO -ELECTRIC POWER. Hffi
DAMS, CULVERTS. " jW:;
MASS CONCRETE. itHj
LAND SURVEYS. JK
HANGER & SONjM
"Wall paper to suit any one, In tgB
style or color. Egyptian, EnpMjBf
Gorman, Turkish, Roman and Ar0K"
PAPER HANGING TINTlNQB
Office 834 So. 1st West. Bell 4tjK
, P. J. QUEAilT, President Hg
J. S. BRANSFORD, Secy, and TrHP
Doth phones 171.
KEMMERER. RccK SPRINGS A3K
$5.25 Pjet Tw
Wo make deliveries of all
ault your convenience, and 6U&Thi
satisfaction. I 'PS
You takti no chancs. jHs
Federal Coal Cm
100 MaN STREET. jjjE
P. J. MOBAN, General iManageW
T. J. O'ERIKN. Gen, Ss!e3 AffflW!
"i ' Mb!