The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-12-29

, y HE history or mining IN Mercur IS
familiar to most citizens of the
state. Until the process of treat
ment by cyanide of potassium was
adopted there had been no satisfac-
tory returns from mining in that sec
ton. There was no end Of ore there,
out it was of universally low grade,
end would not bear treatment at the
ordinary reduction charges.
The Mercur Gold Mining & Milling
company was incorporated in 1880. They
built an amalgamating mill which
proved a failure. The mill was remod-
eled and turned into a cyanide plant.
by which the ore was successfully
treated. Previous to Aug. 1, 1900. 5g5.-
442 tons of Oxidized ore were milIed.
Sl,4SlOOO had been paid in dividends.
and there is still remaining in the
treasury Sl0,5SS.SO awaiting the de
termination of pending litigation.
It was in 1894 that Captain J. r. De
lamar bought the Golden Gate group
and started development. Three years
If time and a large amount of money
" ere expended before the proper meth
Cd of treating the sulphide ores was
determined. From that time on the
mines of Mercur have been among the
largest producers in the state. and as
their report shows from April /. 1885,
TO Aug. ], 1900 they produced S2235,-
1913 in bullion. at an operating ex-
peuSe OF Sl546, S242S. leaving a gain
over operating costs of S6S5. 1929.
on the dGte named the two COM
panies were consolidated, The com
bined product previous to that had
been 1,o451S6 tons, at a profit of 81
al %
consolidated companies were capital
lied at $1,000 600 in S. shares, under
New Jersey laws. The officers chosen
were II. a. Cohen, president and gem
eral manager; John Dern, vice presi-
dent; w. r. Cunningham. secretary,
q. II, Dern, treasurer and assistant
general manager. At the close of the
fiscal year. June 80, 1901. the first re-
port was issued. covering the o=TiOd
of eleven months. Within that time
there had been mined and miIled 2SS,-
295 tons me value of the gold pro
duced during the eleven months was
S5.1S per ton. The average valIe of
the tailirgs was 50 cents. making a
tOtal average value OF tde ore of S6.l3.
The total operating expenses, includ-
ing everything, mining. milling, pros
peCting, salaries, office legal expenses.
tc. amounted TO S31S.210.47. or S31S per
ton Of ore produced. leaving a net
profit of 81 per ton. Up to Aug. l. this
year, dividends have been paid, derived
from the eleven months operation,
amounting to $3.50. 600. and the total
amount of dividends paid by the com
panies inclJded by the present com
pany from the date of their Orgaliza-
ti0n is S2.530-S1299. From the report of
Robert G. GeUmeil. made IN accord
suce with the requirements Of the BOs-
l-ln stock exchange when the mines
Sere listed there. some interesting
data which is concIsely presented in
the synopsis of his report as follows:
IncOrpOrati0n-1,0 600 600 shares, par
v,.iue S. each
Location-Nercur, Camp Floyd min
ing district, Tooele county, Utah.
Geology - Three blanket veins;
Fangue, mainly altered limestone.
HistOry-Mercur Gold Mining &
Milling company worked 595, 442 tons
at net profit of SI.491. $3.50; De la
mars Mercur Mines company worked
4f9, 694 tons at net profit Of S6S9.Sl2.99;
Consolidated AIercUr Gold Mines com
pany worked 141, O94 tons from Aug /
10 Dec 81. 300. inclusive. at net
profit of S2S0.S64.2i
Seventy nine claims, aggre-
eating 944 acres.
Surface Improvements-1,0 00-ton cya-
hide mill. 500-tOn cyanide mill. assay
Offices, chemical laboratory. refinery.
holsting works 1O00-horse power
steam electric plant, stvrenouse, ma
chine shop. steam and electric COM
uressor plants, company offices, super
inteudents houses, shaft houses, dwell
ing houses, electric tramway. water
works. system. and a farm with tWenD
acres Of water right
Method of Mining Gazing system.
Method of Milling-Cyanide process. /
ore in Sight Jan. 1. 1901, 117,3 $50
tons.
Average Value Of Ore-S6.OS per ton. /
Cost of Mining and MilliGg-S3 per
Average value Of Tailings-S1 per
Net Value of Ore-S2.06 per ton.
Net Value of ore i'm Sight-S2,32A029- }
kNet Value Mercur Company's Dumps
value Of Surface Improvement
$3.50, 090
Present Value OF Property 50, 524 ,050 /
li1fnE Probabilities 50,290 tons /
between developed ore bodies
Mining P0ssibilities- Three-Quarters +
OF the territory yet unprOspected.
e1clusion-PrOperty is nos equip I
ned for the very best work. ahd Should 4
have a long and prosperous career
We also copy from the report the fol- /
lowing description Of the methods of
mining and milling.
The ore is mined by the caving sys-
TEN. This system is q very. economical {
one for thick and comparatively fat