Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-11-14
Tbirty-Seyen Car Loads Shipped
Which Melted Company About
Eight thousand DaIIars.
BOND ISSUE ALMOST PLACED.
0uiy 100000 Worth YET TO be Sold
Management Viii Have a $500 600
Fund TO Draw On,

Probably the most important biz Of
Information that has come from the
Majestic Copper companys properties
/ ma long while Is contained In a com-
/ munlcaiion received today from the Of
fees OF Chapman, Muckl0w & Boston
fiscal agents OF the company at Hart
ford, Conn
During the month OF October accord
ing to the report total Of 81 carloads
or 600 tons, Of ore were dispatched u
the salt Lake shelters from which a
net profit Of $1,000 was realized The
shipments came from only Two mines
the Harrington & Hickory and the old
Hickory. not q pound coming from the
O. X.
II Is estimated that there Is not less
than 100000 tons OF ore ready TO be
mined In the Harrington n Hickory
lead-dlycr mine, this tonnage being
exposed IN the Conner Shaft workings,
While the figures are not given out the
returns from this ore covering the en-
tire month, they are given for one small
lot which had a gross value Of y2l to the
ton. or Sl707. The smelling charge was
$3.50 per ton, freight s2OS.G0; sampling
S5o6l, The lot netting SsSs.lS, or just Sli
per ton.
Some Of the ore sent out from the Old
Hickory copper mine averaged 2.O9
ounces In silver 70 per cent copper, 80
per cent IRON .0i5 ounces gold, 9.3 per
cent sulphur and 2SA per cent silica.
The announcement Is made that In
less than six weeks time all but about
100000 worth OF the authorized issue Of
100000 gold bonds have been placed,
but the balance can be Immediately
placed with outside parties Il the stock
holders do not want them. The state
ment Is made that on Nov 30, 1904 the
stock bonus OF GO per cent common
stock OF the Majestic Copper company
and 40 per cent Of its preferred cumula-
tive stock will be withdrawn Each
stakeholder Of the Majestic company
has, therefore, the balance Of this
month to determine whether 10 send In
either an additional or a new suhscrlp-
ton. The bonds are In four denomna-
lions OF $50, 500. $500 and $1,000 each.
and the bonus stock Is pro rata the
same, namely. with a $50 bond is given
$50 In common stock and $50 IN pre-
ferred; with a $1,000 bond Is given 5000
common and $500 preferred.
All OF the floating Indebtedness of
the company has been provided for and
when the full $685. worth Of bonds
are placed, the management will have
about 100000 TO use IN the more eX-
tensiye development Of the mines and In
the starting OF the smelling plant.
President Mucklow has pledged the
stockholders not to incur any indebted
ness In the future that cannot be taken
care Of
A vigorous campaign OF exploration
is to be carried on at the Q. X mine.
where air drills are to be Installed. The
mine Is also 10 be connected with the
NewhOuse branch OF the Salt Lake
Route by means Of a switch.
In his report OF oct. 81, Supt Freu-
denthal said concerning developments
at the Q. X mne
"ln the O. X on the 300-foot level,
east OF the shaft, the ore body that we
encountered on the Goth inst has proved
to be the Identical body that we have
on the 2OO-foot level, 40 feet east Of the
shaft. This gives us an enormous tom
mage and after 80 days notice there
will be no trouble to furnish from the
O. H. mine 400 tons per day Encoun-
terlng this body OF ore on the S00-foot
level and striking II within 100 feet OF
where we expected It TO be gives me the
assurance that we shall tap II on the
io0.foot level by driving a drift norther-
~ 30 feet from the face Of the North
east drift We should then have more
ore to handle than the capacity Of the
rHo shafts"
Speaking Of the Old Hickory the
same date, the superintendent said:
"The Old Hickory Is showing up wen
on the 300-foot level. This Is a part Of
the Gothland ore body which was
tapped on the lO0-foot level. We have
taken out some very nice specimens Of
native copper which follows along the
foot wall OF this ore body In fact, all
the places that We are now working are
looking line and producing ore. am
pushing the development work rapidly
ahead so as 10 have the mines ready
20 respond to any reasonable tonnage
OF ore that we may ask from them"
President Mucklow arrived from the
east last night, accompanied by his
son. who will spend some time IN this
state.