The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-05-10
REPORT ON CON. MERCUR.
Dividends Viii Be Discontinued IN
til New Slime Plant Is Installed.

til New Slime Plant Is Installed.
With the checks that went out yester-
day from the offices Of the Consolidated
NIercur company in payment Of the May
dividend was a circular letter to the
shareholders advising them that divl-
dends for the present would be d1scon-
tlnued. The statement was sent out over
the Signature of Secretary Thompson and
was authorized by the board of directors.
During the past year the company mas
paid in dividends the sum Of $4,000, or 42
cents share. but owing to the fact that
several months past it has been tax
ing the ingenuity of the management 10
affect as close a saving in the values of
the ore as It would have liked. owing TO
increase In the amount Of tale and clay
that occurred with it. way out Of the
difficulty has been sought
Several months ago. the directors eX-
plain. we began 10 experiment with a
new process. the patented invention OF
George Moore of this city, who has made
= long and careful study of the shines
question small experimental plant
was erected at our works and the num-
erouS exhaustive tests which have oeen
conducted have given uniformly SaUlSIac-
tory results. Our experiments have con-
WINGED us that by the use or the moore
process we can extract at least % cents
per ton more than by our present method
without any increase in operating eX-
penses it Is hardly necessary to point
out that. on such a large tonnage as we
are treating, this will mean a great IN
crease in our bullion production. and OF
course our net earnings VIII be CORE
EpOndingly enhanced
The directors nave accordingly en-
tered into an agreement with Mr. Moore
for The use Of his process. and have or
dered the installation Of the requisite
equipment Contracts have already been
let for the material, and the construction
work will be rushed with all speed II
is hoped that the plant viii be completed
and ready for operation by July J. The
changes will be made without shutting
down the mill Meanwhile. dividends Will
be SUSPENDED. and will not be resumed
until the new installation Is flnlsned, ana
has demonstrated its earning capacity
The new plant consists of devices for
separating the shines from the sands,
and for the agitation and filtration or
the shines. the sands being teached Dy
the usual DercOlaJiOn method
"OUr engineer is at present engaged IN
making an estimate Of our ore reserves.
On account of the numerous inquiries We
have received from stockholders regard
ing the condition Of the mines we beg TO
submit the figures so far as completed
His report. based on surveys and careIul
measurements. shows $780, 55 tons OF mill
ing ore in sight in the Mercur mine alone,
or nearly three years supply at the pres
ent rate OF milling The reserves IN the
Golden Gate mine have not yet been es-
timater. but we feel safe in saying that
the tonnage in sight in the Consolidated
MerCUr mines compares taVorably with
anv period in the past
Some very handsome developments
have been made in the last few months,
and we doubt not that in our vast area
of uneXplOred territory equally gratifying
ore bodies viii be discovered II the
future.