Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1903-09-25
RECORD MADE BY
THE CON. MERCUR,
Ores Mined and Milled Averaged
S5,OS the Extraction Amounted
To 1884 to the Ton.
DURING LAST FISCAL YEAR
Total Production of Bullion Amounted
TO Si,52Looo.Oj Available Assets on
Jan 5o We're SIaA2Is,o2.

It cost the Consolidated Mercur Gold
Mines company S2.SS per ton to Minis
and mill its ores during the fiscal year
which ended on the Goth Of last June.
Segregated the expense of mining was
$l.30 and that Of milling rs cents more,
or sl.5S per ton, An average Of IS s6l
tons per month or total Of 3i6,359
tons, was mined during the year and
1886 1868 tons put through the milling pro-
cess, at the Golden Gate plant produce
ed M,2S6,5 567S worth OF gold bullion
The extraction amounted to 1884,
while the toiings averaged Sl2l, maxi
ing the value OF the ore mllled average
up TO b.0J per ton The Mining mill
was In operation a portion OF the year
on an old Mercur tailings dump, pro-
duclng s36. 45290 at cost of S27OC4.i2.
Altogether 5000 tons were treated,
hence the extraction was 81 cents and
the expenses OF same 40 cents.
DIVIDENDS PAID.
During the period mentioned II
monthly dividends Of 100000 enoh were
distributed among the shareholders,
were suspended In May, after the pay
ment OF sl03O0OO to the stockholders OF
the present corporation. This amount,
added TO what had previously been dis
bursed by the old Mercur company ana
De Lamnr's Mercur mines, before the
consolidation, 81 lS0, 3l297 the grand
total of the dividends paid by tho prop
critics of the present company Is $500
1897,
TAlLINGs RAN TOO HIGH.
The necessity Of the introduction of
the Moore shines process is made APP
parent In the report Of Manager George
ii, Dern which has been issued In
pamphlet form, showing that the
taillngs have materially increased. In
1901 the average was 50 cents; In 1902,
SLID. while up to May / Of the present
year il ran up to $3.50 During the
balance OF the year, May and June, by
running on reduced tonnage and eX-
orcising greater care IN mining, Keep
Ing out the more slmey ores, rs much
as possible, the tailngs ran so low, Mr..
Dern states, that the average for the
year was cut down to sl.2l
OPERATING EXPENSES REDUCED.
On the other hand, a gratifying I'M
provement was made In operating eX-
pcnses the same having been reduced
from $3.50 per ton the average OF the
previous year. TO s2.SS this year
The financial statement shows the to-
tai rcceipts and disbursements OF the
year, as follows;
RECEIPTS.
Gross value Of gold produced
Golden Gate mill ..,....,,.. 81 .2S5. $780,
Manning mlll,..r ",..,.." S5,ib2.90
Total ",.p.,,v, ,...".,sl, 1871 .0o9.G3
From other sources;
Ground rent ..,.,,...,.... o.. Gi2,50
Gold Belt Water CO., diy-
dends .,,.,., ,.,,,,..... S,G25,0O
Miscellaneous ....,.... go. 1000
Total revenue "..,~,sl, $3.50, SLlS
DIsBURsED.
Operating expenses:
Mine .,.....,,,,.,.,., ......$ $50. 2ss.b 80
Golden Gate mill ,.....,a 5l70lS3f
Manning mill r,",.,...,,. 2G064 i2
Gross total ,..," ....S1,O2Aitl.3t
Less appointments out of
last years unapplied bal
anees ".n.- pu,-,.." 1892
Net operating expenses 81 .O22, Oh 80
Net earnings for year ,..,.. 800, 1859. "A
Balance from last report. $50, 305.l1
Total available proAts.$ 4577G4S5
Less dividends . to 49, inc, $50, 1000 90
l2776iS5
Less construction and other
Items ,.,....... ...... i52iSS
Balance Of assets June
30 l9o3,..n.,.,..u,,,.,$ l23 2i3 o.