The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-06-15

The annual report of the Ontario Sill
yer Mining company, covering a period
from Jan. 1, 1897, to Jan. l, 1885, is just
cut, and is being distributed to the
officers and stockholders of the COM
pany, the report being exhaustive in
its nature, and going into detail as to
every transaction embraced in the
operations of the company during the
past year
The report of the superintendent of
the mine, which has paid the magnih-
cent sum of $13,557 800 in dividends, is
complete and VoluminOus. the present
condition of the property being accur
ately and minuteiy described, and from
this report il can be seen that this
gland old producer is still in the ring
for future dividends, should there be
an appreciable advance in the quota
lions Of the white metal, While the
statement is made that the equipment
at the mine and mill is in an excellent
state of preservation, important i'm
provemenJs to which have been made
during the past few years.
In this report Mr.. Chambers states
that during the year 1897 the company
sold Gre ard bullion at an average price
OF 1855 cents an ounce for its silver
contents, the cost of production being
ing out the computation $40,922.76 eX-
pended in the construction of tunnel No.
.. and in the acquisition of mining
property. which. Mr. Chambers says,
leaves a narrow margin for the pay
lnent of dividends the total paid during
the year, amounting to $202,50O, being
almost entirely paid from the accumu-
lated profits of previous wears.
Mr.. Chambers mentions particularly
the work performed on the 1,600-foot
level which is the deepest workings
in the mine. concerning which he says:
ON THE SIXTEEN HUNDRED.
''The WINE east OF the main cross
cut started last year from the l,5OO-foot
level has been continued this year to
vertical depth of 100 feet. where the
station for the 1600-fooJ level has been
cut This level has been run east for
q distance Of $50 feet, and then cross
cut driven toward the hanging, 120 feet.
II has been driven west from the sta
ton distance of $50 feet, and then
cross-cut toward the hanging Of 20 feet.
The lode at this level is strong and
wide, though not as high grade as on
the higher levels A small amount of
stopping has been done. These Slopes
are going TO yield q large quantity of
ore of a very fine grade, so that there
will be a large profit in working th-S
end OF the ground. This is the lowest
level yet reached, and the width and
strength of the ore channel at this
point is a good reason for concluding
that it viii continue for a much greater
depth.
Mr. Chambers report is enbellished
with drawings and maps showing the
entire workings of the mine to date,
or, rather. up to the first Of the year
In the secretary's report il is shown
that the bullion output for the year
amounted to 1,402 bars, carrying 426,S6S
ounces fine gold, and S39,37S.10 fine
ounces silver, which sold for $501, SO;
while the sale of crude ore, amounting
to ISL tons, containing 71,G20 fine ounces
gold and 65.057.27 fine ounces silver,
brought $50, 1862, bringing the total ore
and bullion sales for the year up TO
s53S, 1881, the output of the mine for
the year in gross tons being: Ore mllled,
a, 69S; ore sold, 1,151.
The financial statement made by the
treasurer for the year 1897 reads as fol-
lows:
FINANCIAL, STATEMENT