Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-05-25
BOSTON CON. OUT
WITH STATEMENT,
What the Copper Company Pro.
poses 10 DO 10 Equipment
OF Mines
Meeting OF SHAREHOL DERS.
Called for June iOlh--Capital Stock to
Ne Increased - Au Immense
Bsnanxa,

The management Of the Boston Con,
rolldated Mining company has ISSUED
a circular TO Shareholders which, among
other things, contains the following,
II Is also proposed 10 build rail-
road from tho mines Of the millsltc
which has already been purchased by
the company at Pelican Point, on uton
lake, together with cqulpplng the mines
with steam sboyels for extracting from
1900 10 10000 tons daily
The proposed issue Of 100000 bon In
N 10 bo IN the form OF lO'yoar 0 per
cent dobenlures, convertible into $4,000
shares " The stock Of the company NJ
the option OF the holder at amy Tins
within the lie OF the bonds, the com.
nany rcserylng the privilege OF re-.
dooming tho bonds during the flrHt i've
years az lOj unon llylng six months
notice 70 the holder
A meeting OF The shareholders has
boon called, 90 be held In London on
June ~, 1905, 10 rntlty the action Of tho
directors ana TO authorize the increase
OF thl capital stock OF tho company
from 100000 10 $4,000 shares, The IN
crease NJ 10000 90 b2S eharos, the IN
crease Of 1891 900 shares to be for the
purpose " retiring the bonds IN above
stated, For the purpose Of lssulrA
proSlNs % vote az this meeting tys
tranffcr books Of the trustees certin.
Gates Issued by the Federal Trust com.
pnny VIII be closed May 81 at D. M,
and viii reopen on the morning OF june
O.
A statement from Managing Drec-
tor samuel Newhouso gives some Inter
esting data concerning the mines Of the
company At Bingham and what N pro.
posel "a Ne done with the orc when
facilities for milling them are supplied,
That wo may mako this property PRO,
ductlVe and convert the low grade cop.
per ores into money, II VIII he necessary
10 erect concentrating mill Of modern
type, Win electric power equipment, n,
n place where water " abundant ami
all other conditions conducive TO eco,
nomIcal concentration, I have care.
fully looked into this question, have
| visited many places, ana have nnally
| concluded that the proper site for oui
| concentrating mill II upon the banks
Of Utah lake, q distance Of about "a
miles from the mine, have obtanei
purpose a railway can BIZ built from
The mine 10 tho mlllsllo at nm estimated
cost OF 100000 We may be- able 20
make n contract with tho Denver &
Rio 0rande Railway company TO trans,
port our ore from the mino 10 the mill
AT 90 cents per ton IN which event the
RIO GTnndo company would bo Obliged
10 build about II miles Of new road N
We had our own railroad, II would cost
w but 10 cents per ton, The matter NJ
Transportation, however can be settled
hereafter
| would advise that "A mill OF 2koo
tons capacity should be FIRST erected,
ana Nhon completed, tested ana ~
efficient operation, out Of the PROFITS
arlsIuS from the shipment OF the high.
or Grade ores now going 10 the BlnU.
ham pneltcr add another unit Of $500
tons 20 the mill 80 As 10 give wv u en-,
paclty of 5000 tons ror day 10 shoN
that We obtain a PROFIT OF 81 25 per ton
upon the copper bearing porphyrles,
submly tho following illustrations
One.fourth per cent copper equals 2S
pounds copper deduct ~ per cent loss
In concentration pounds copper leaves
q pounds copper Fl pounds copper NJ
l2ih cents tproNcnt price ibA ctnts) IN
$3.50 ndd gold and silver values 20
conts ana thtro ls $500
luct-Mlnng cost win steam
shovel 10 cents milling cost, % conta,
smelling cost 20 cents cents pr
pound copper for freight pnd refining
A. con,s for loss IN Mmt Ing and OK.
ponsog selling copper W cents haullnA
crude ore. 20 contsi total NiS S,iS
deducted from $500 leaves ti26.
I also submit the following estimate,
made by our railway and min engineers
40 20 the cost OF installing plant OF
$500 ions daily capacity, ready Tor ol
orntloni
Railway, $4,000 railway equip.
mcnt $4,000 powor plant for 5000
tons, $500 pO mil 100000 two steam
shoyela, $4,000 reservoirs, houses zoe
omp Dyes, ETC., SdO0OQ-a total Of 1870.
600,