Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1900-01-31
The Mercur Shareholders Listen 10
the Annual Report.
THE NET GAIN IS Sl78,166.86.
AneBt the Bingham Copper and Gold
Company's strike-Ore from
the Ajax Properly,

The stockholders of the Mercur Min
ing company met In annual session this
afternoon and listened to the managers
reports. which showed the average
daily output for the past year to be S5S
tons. The cost Of mining the ore was
SlO5 against SIG during the year 1895.
The milling expenses amounted to So
cents a ton. or cents per ton less than
the previous year.
The total expense per ton was 1921,
the difference Of "a cents per ton COW
ering the freight charges for ore trans
portation from the mine TO the mill,
royalty ana incidental expenses.
The total receipts for the year
amounted to A7299s, and the deduction
Of sgs4,SS2.l4, the total regular expenses
places the net earnings for the year at
$l7si66s6 Added TO this amount Is the
gum OF s24. S6G36. the balance on hand
Jan Y, 1899. This gives SOC, 1892 as
the amount OF available cash after the
payment OF the regular expenses OF the
mine. During the year, however the
sum Of S32, 1920 WAS expended In con-
struction work and Improvements. This,
added to the sum OF Sl2j 900 which was
handed out In dividends As, AZ and 90,
gives l57.l5720, which. when deducted
from 500, 1922, mentioned above, leaves
yi5,376.02 as the cash balance on hand
on January u. 1900.
superintendent George H. Edwards
also handed In an exhaustive report In
which he alluded 10 the benefits accru-
Ing from the installation Of the ~ drill
N0rberg duplex air compressor. Six
2-man drills and three l-man drills are
now In operation. A great deal Of at
tention has been given to prospecting
during the past year. The cost Of the
dead work is placed at S1l50 per day
for the year. About twenty-nine
men have been kept almost constantly
on this labor, the results OF which are
dwelt on very fully by Mr. Edwards
The Silver tunnel Is now In about 400
feet, and besides encountering small
stringers Of ore, the same extensive
ore bodies have been encountered as
were opened up In the Lulu tunnel
The Apex incline Is now $50 feet deep
and four upraises connect with Nos.
ard ore strata. II Is intended to
commence the extraction Of ore from
this part Of the mine at once.
Since the installation Of the com
pressOr and air drills In August last
work has been pushed on the New
Resolute tunnel, which is being driven
in 10 cross-cut under the old Slopes
In the Resolute Apex. Mercur and MINI
rod tunnels. This new tunnel will re-
suit In much more economy In handling
the ores. 1t Is estimated that $50 more
feet will suffice 10 connect with the old
workings.
During the year about 5000 feet Of |
pipe has been laid with which to work
the machine drills
While they were being worked the |
open cuts produced 100 tons Of ore per |
day. As they are most successfully |
worked In the warm weather, nothing |
will be done on them until spring opens |
when they VIII again be made 20 add |
their quota. The report thus briefly |
alluded 10 closes with the statement |
that owing % the precautionary meas. /
urcs adopted al the mine there were |
no lives lost during the year and no |
serious accidents were recorded.
The following board Of directors were
chosen TO serve for the ensuing year: |
John Dern, T.. II Airs John Helm,
rich Charles j. Devereaux. and George
IL. Dem. The board Will meet later
and elect officers