The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-12-21

the United States Mining company. in
Guiding the Centennial Eureka at Tin
tic, which has richer ore bodies opened
up than existed when the former man
agement took out $2.100. 600 in dividends,
and with a complete smelling plant,
the equal of any in the country, 1
believe the United States company is
good for net earnings of $150,000 per
month, or 81 ,sOO,O 900 per annum.
Other copper properties in Utah
will be. heard from which are not in
the Bingham camp. Samuel Newhouse
has valuable one in the Cactus in
Beaver county. This property has well
developed ore bodies carrying to
per cent copper, with gold and silver
values He is going to build a 1.000-
ton concentrating plant, which means
that a smelter will follow. The Ma
jestic property in Beaver county, over
which William A. Parish, the Denver
mining engineer, presides, is building
smelter, and there is every prospect
here of a big copper producer. Then
there is the Big Cottonwood company
at Park City, in which 1 am interested.
We have ore bodies forty TO sixty feet
wide that viii average 8 to 7 per cent
copper and 81 TO 50 per ton in gold
and silver
A copper property whose ores con-
tain substantial values in gold and sill
yer is the property TO tie to, and that
is why believe that Utah win take its
place among the leading copper pro-
ducing states in the Union. Our cop
per properties are but a few years old,
being yet in the development stage, but
a few years hence Utah will surprise
the country with her copper produe-
ton.
90 The Park City camp. thirty miles
from, Salt Lake City, is the big camp
of the state with its Ontario, Silver
King, Daly-West, DaIy-Judge and 9TH
principally silver-l lead producers at the
present time, but they have paid S2S.-
100000 in dividends. The Daly-West
is paying dividends of 81, 900, 900 per an
mum, as is the Silver King, and not
withstanding the decline in the price
of silver. these mines are earning a
sufficient surplus above their present
dividends to warrant the belief that the
current rates will be continued. The
Daly-West, in which Boston is interest
ed, has between seven and ten years of
ore reserves blocked out. 1t has one
ore chute 1000 feet long that will ay-
erage thirty feet in thickness. It is
shipping 200 tons of ore per day, which
will average $50 per ton in value. This
property is DEVELOPED to a depth of
1,600 feet.
I own a controlling interest in the
wabash property in this camp, which
adjoins the Ontario on parallel veins,
and I believe this property covers the
eastern extension of the DAILY West.
We have a shaft down 500 feet and
will drop it to the 1,000-foot level. 8
'' The Amalgamated Copper company
has been a great load on the legiti-
mate miner. 1t is like a great ship
at sea without a rudder. It is capital
lied to death, and while its manage
ment may be we'll versed in Wall street
tactics it has many things to learn
about legitimate mining. 1 am reli-
ably informed that cit costs the Anal
gamated companies in Butte between
10 and 1917 cents per pound to produce
copper, and there is certainly no big
money for it with present prices for
copper. especially when it has to dis
tribute net earnings over a capitalize
ton of $155 0O0sOOO' -