The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1899-07-14

A representation of al 900 shares out
IF capitalization of 100000 shares was
made at the annual stockholders meet
tng OF the Dexter Gold Mining COM
pany, held in the company's offices in
the Auerbach block yesterday after
noon. The following officers were elect
ed: John Dern, president; ]. S. La
kin, vice president; who, with S. B.
Miner. Z. o. Lee and H. c. Southworth,
the latter of Boston, Mass, were elect
ed directors. George Z. Airs was elect
ed secretary and treasurer, he being
chosen to succeed II. Z. Booth. The po-
sition has been filed by him ever since
the formation of the company. The
stockholders at yesterdays meeting in
sisted that he should be honored with
the Office again, but he refused it abso-
Iutely.
During the meeting reports from the
treasurer and general manager Were
read. The latter's report showed that
during the last year there has been eX-
pended in electric power plant, cyanide
plant, assay Office, mine, shaft and
hoist construction, and in the purchase
OF the Young America and Joker claims
and other items of permanent improve
ments, a total of S64, 969.04.
The stamp mill during the same per-
iod has worked 10 ,994 tons of ore and
. Lit Cs dilut plant IldS i0,OoS
pounds of precipitates. From Manager
Miners report, it is learned that there
is more ore in sight at the present time
than ever before; that the new shaft
has reached a depth of $50 feet, and
that a connection will soon be made
with a Wine in which the high-grade
ore was encountered about ten months
ago, but which could not be extracted
on account of water. The report states
that the vein of ore in the winze meas
ures twenty-eight feet across, which is
claimed to average S53 TO the ton in
value. The mine is reported to be in
frst-class condition, and the new air
compressors recently installed will be |
used to pump the water out of the |
mine and run the hosting works at a
saving over former methods of IS. 900 |
per dnnum- The report shows further |
that all the necessary permanent i'm |
ssprovements for the successful opera |
ton Of the mine and mill have now
been made, and that during the past |
year and prior to the completion of the |
present plant only ten stamps out of |
the forty could be operated during the |
winter on account of the tailingS being |
on the ground and frozen. a very small !
tonnage was put through the cyanide |
plant for these reasons which is cor |
ioborated in the report handed in by |
the treasurer. These difficulties have |
Seen overcome, with the electrical /
power far in excess of the mines needs |
and large settling tanks, where the
water is drained out before it can
freeze during the winter months. From !
the treasurer's report it is learned that
the total receipts of bullion bars, cya-
hides and ores for the year were S155,-
S4i-3l, and that, including the perma-
nent Improvements added to the prop
erty. the company has made a net
prohS5f LOCO, all of which was ex-
pended n making these improvements.
The stockholders are greatly pleased
with the work of Colonel Miner. under
whose management these transforma-
lions have been made. He has ex- :
pended large amount of money in !.
making the changes, but all agree thatl
he exercised the wisest Judgment in all
things. The mine is now in shape to
handle an immense lot of ore. and with
the increasing output it is only a uues-
lion of short time till the mine will
wipe out the little Indebtedness against
IT and the stockholders will be reward
ed by regular dividends