The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1902-04-20
ANNUAL REPORT
OF THE ONTARIO
Property Was Operated at a
Handsome Profit.
TREASURY RESERVE $4O2, 828
sUPT. ROOD RECOMMENDS GOING
800 FEET DEEPER.

IT HE annual reports Of officers Of the
ontario Silver Mining company
for the year ending Dec. 81 last,
made their appearance yesterday, and
the exhibit is a most gratifying one,
both as it relates to the financial cor
dition Of the company and the physical
appearance Of the mine
The year began with a treasury re-
serve of S401 Bliss and ended with
s402. 82861. The amount Of cash on hand
at the close OF the year vas S220, 306.1O.
while $4,000 was distributed in diyi-
bends. During the year 29,Sll dry tons
of ore were mined at a cost of S5.SS per
ton. and including prospecting and
sinking No. shaft, mill and assay ac-
count. tunnel No. and general eX-
peL e, less rents. the total cost Of pro-
auction per tOL was Ss1s.
OF this product %. 539 dry tons were
sold to the smell -ers at a profit TO the
company of Sl607 per tCd. while the
product from Marsac mill from ore
amounted to 1883 tons that Melted
Bi7s9, making the average net receipts
1851 per ton for the sale Of 80 .326 dry
tons. or total of $499,371.42. The total
receipts from ali sources for the year
were S5546S4.2s ana the total profits
from all sources were S15I30463.
In his report of operations 1T the
mine. superintendent Rood shows
what has been done on every level and
explains the physical conditions exist
iae as he goes along. The report.
while not being bulky, is most COM
prehensiye. and cannot fail 70 favor
ably impress the shareholders. AS
most interest center5 at the present
time in operations on the lowest, or
1.700-fOot level, superintendent Rood s
description Of what has been done and
what the conditions are at that depth,
are given in fun. as follows
"A crOss-Cut has been run from NO.
. shaft nOrtherly a distance Of 242 feet
10 the lode. and a drift on the lode has
been extended east 466 feet. and cross
cutting 10 the extent Of $40 feet. A
drift has also been run west distance
of rs feet, and prosecuting TO thE
extent of seventy feet. The lode limits
are very stTongly marked, guarantee
ing a continuance to the deep Tor an
fndefnite distance. Very little water
mas beer. encountered. but the quantity
will undoubtedly increase largely IS we
d~;Ft west. IN the east drift, the ore
body Is. In places, three feet wide and
Of good grade In the west, 1t rs stEl
wider in places, and considerable ore
OF fair milling grade was passed
through. Excepting the drifts them
selves. there has been no tleNEtOk Llic4Ae
of the lode az this depth.
"A reserenCe to the previously pub
lsbed maps and reports VIII show that
rbe west drift on the 1,500-foot level
did not encounter any ere worthy OF
note. until a point had been reached
'abclt .00C feet west Of shaft NO. s.
Therefore. the ore so far found on the
west drift of the 1.700-fOOt Level was
not indicated by any developments
above. on the other hand, 1t Is rea-
zoaable TO anticipate a good showing
as this level is driven further west, I'm
der the best chutes of ore On the LOU
foot level"
in closing his report and previous "a
having a deserved tribute 10 the mem
orv of r. =. Chambers, superintendent
.The property of the company Is
GENERALLY In good condition, and tnt
steady reduction of expenses parualiS
rompensates for the appreciation Il
value Of the mine 2! icts.
..Tbe de- elopments eady maze OF
tba 5O0-foot and 1,70l pot levels JUS
tif, the exploration or the looe
grsater depth. TO that end, shaft No
should be sunk TO a depth OF z.UV
feet. and a crOss-Cut run TO lnteIsSc
re vein, drifts being thence oilVei
east and vest. -,-e
The recommendation that the sh "a
he sunk another 800 feet indicates va va
the old mine is counted upon 70 col-
tinue its active career Tor a great man
wears to come at a profit 10 the sus-iS
holders.