The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-01-05

The annual meeting OF the SLockuolu-
5 ers of the Sacramento Gold Mining u
Milling company was held in this city
3 yesterday afternoon 6S9, 409 shares of
4 the 100000 at which the company is
4 capitalized, being represented in per
/ son or by proxy.
One of the objects of the meeting was
the proposition to amend the articles
of Incorporation so as to give the COM
pany a board of five directors instead
OF four, as formerly, the amendment
being carried by more than the requir
ed number of votes.
The meeting then proceeded to elect
a board of directors for the ensuing
year, with results as follows:
G. r. Boutwell,, r. Z. McConaughy,
E. Z. Jenkins w. c. Hanna and M.
Flynn
~ Before the adjournment of the meet
ing vote of thanks was voted by the
stockholders to the present manage
ment for the efficient and satisfactory
manner in which the affairs of the COM
pany had been conducted.
The report of the secretary for the
year was as follows:
Receipts from gold cyanides. s SS,67S 16
Paid in dividends and for min
ing mill ard development. So, l95 20
hand -. . .. . ............S 1882 96
The output during the year amount
ed to 26.965 tons.
This showing was a most encourag-
ing ore, but the report OF Manager
R0thweIl as to the condition of the
property was more SO, and this reads
as follows:
MANAGER BOTHWELL'S REPORT.
To Stockholders Of the Sacramento
Company:
The year past, when the full situation
4 is understood, can only be considered
Y as one of great good for the property.
The ore treated during the year has
nearly all been taken out in the way Of
development, which has necessitated
the running of thousands of feet OF
tunnel.
Much OF the ore was taken from u
part of the property which gave prom
Use of making a great ore country. In
this our. greatest anticipationS have
been fully realized as to the grade and
quality of the ore: but this ore has
practically been Of a semi-base char
acter, making satisfactory teaching
with the present plant impossible. The
tailings have continued high through
all the year, and at times this was very
much of a burden to the parties closely
in touch with the operation of the mine
and mill: but it was deemed to be to
] the best interest of the company that
: this vast zone should be driven into.
After much study of the situation, 1
think l am safe in saying that the
company has
DEVELOPED 100000 TONS
of this semi base ore that will average
SIC in gold to the ton.
1 do not wish to be understood that
an expert, with present Developments,
would measure Up SO large q tonnage,
as the drifts are not close enough to-
Eether to allow one not closely familiar
with the country to hazard a guess on
what the interior Of certain ore bodies
might contain; but in my judgment,
there IS surely this amount of ore
blocked out and developed; and were
allowing my imagination to run TO what
really believe there is in the property
of this class of ore, the result would be
many times greater.
1 consider that this part of the prop
erty is now sufficiently developed to
Justify a good-siZed plant for the
treatment of the ore, feeling certain
that sufficient ore is assured with
which to operate it for very long
time to come.
I should recommend the dropping
back aud the entering of the country
already partially developed, where the
ore is thoroughly oXidized. and where,
when the ore was milled in the past,
the tailings were kept at an average
Of about 90 cent? to the ton.
!, There is a large amount of this ore
3 IA sight, and the faces of all the drifts
I4Enning into new ground in this di-
&ection are all in thoroughly oxidized
material.
Much more of this last-named class
of ore should be easily opened, and
the mill would not be short of ore for
several years to come if no new ole
of this kind We're found.
This would enable the company, not
later than next month, to commence
the regular payment of
MONTHLY DIVIDENDS.
and also besides the dividends. to
make any changes needed in the way
of roasters and other appliances for the
treatment of the Senli-base ores. also
make the recommendation that the
mill be enlarged in the early spring.
and that the necessary appliances be
put in to treat the great body of semi
base ores The mineral is there and
any further delay in getting the values
cut of il is unnecessary, unless it be
deemed wise to await the results OBJ
tanned by the Golden Gate and other
mills on similar ores.
The owners OF stock in the company
may well feel satisfied that they have
been able TO open such mine, and
that the mine has been self-sustaining
from the starr.
mines which have had to levy assess
ments to set on a paying basisi
[ also wish to congratulate the
company upon its good fortune in Sc
curing the services Of so capable and
&cnest 4 superintendent as Mr. Flynn. !
; Mr.. Cochler, at the mill, is also a care
full and painstaking man. His position
has not been a pleasant one, when the |
class of ore milled the past year is |
considered satisfactory results. at
times, being impossible TO get. But |
the coming year should be much more
agreea bic.
The property has bright prospects
ahead. and this year should be very |
successful, both in the way of divi- |
dends and increased ore bodies ex-
posed.
That the Sacramento is to become
ONE. OF THE BIGGEST MINES
among the great mines of the country.
/ have no reason to doubt
Three veins are considerably deveI- /
oped in the property, and a fourth one /
has been lately opened up, all carrying |
profitable milling ore, all of which are /
70 close together that they are prac- /