Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1905-09-18
ORE SHIPMENTS,
CON MEkCUN's REpORT.
Mine Restored TO nlyltend-Pnylng COL
umn Nv Intelligent Effort

me report OF lnc NOI' htl'ul lpl tHN
year ending Jupne 30, 1905, was made
public Saturday afternoon The report
opens with a statement from President
John Dern. who contrasts conditions
now with those existing year ago
when the company had am overdraft OF
S6.S05.3l.
Continuing, President Dern says:
The vital points Of any mining prop
osition are, FIRST, the value of the ore;
second the extraction OF those values,
and, third, the expenses, On each OF
these features we show Improvement
over last years figures The value OF
the ore has gone up 6 cents; the amount
lost In the tallings has gone down )
cents, and the expenses have gone down
% cents. Thus the years results show
a total improvement OF 80 cents per ton
over the preceding II months"
These improved conditions have en-
ablei the company to resume the pay
ment Of dividends, ana IN the present
can detect no reason why the present
quarterly dividend Of $4,000 should not
DE continued Indefinitely.
The financial statement shows that
during the year the gross earnings
amounted to S7ji,G769i. Of which sum
S142, 29l76 was derived from gold bullion
and OF which sum the mill at Manning,
operated ON tailIng-, afforded S3,jSr90.
The disbursements during the same pc
Rod amounted to $bi421SO3 this leav-
ing u net profit OF 500 39S.SS the cash
ON hand and that represented In sup
plies az the close of the statement
amounting to Sl22,51i.ij.
The report OF George II. Deru treas
90 - no
pauy shows that during the same pc
Rod there was reduced 2l5,026 tons OF
ore. or an average of 20,4l9 tons per
month The financial statement shows
&i2S,i03Sb IN gold produced at the Cold
en- Gate mill during the year Diyid-
ing this amount by the tonnage, as
above given, Il Is found that the eX-
traction averaged S297 per ton OF ore
treated. This shows an Improvement of
ii cents per ton, az compared with last
years report The average value OF
The tailngs during the year was con-
fined TO 9S cents per ton: that of the
previous year to Sl.03 However the
months showed fluctuations in the val
ne Of the tailings this due to variations
In the composition of the ore.
Adding the loss In the tailings TO the
amount recovered and the average val
year was 1896 per ton This item too
reveals an Increase 20 which attention
was invited 10y the president, The min
ing costs for the year, including pros.
pec,ing We're 1910, a3456, or S1.51 per ton
The milling costs were S213 S65.0S. OF
SLIP per ton, Accordingly, the total op.
Grating costs OF the company nclud.
Ing all expenses, except construction
items, were S6ii799.6i or S2,63 per ton
This Is the lowest record for expense,
that the company has ever made, IN,
best previous report being S2.sS I'm 1903
In June the present year the old com
pany was restored to It's place I'm IN,
dividend column, the distribution
amounting 20 2i cents "A share. or S25,
600. This Increasing the total derived
from the compauy's collaborating estate
at Mcrcur 10 s2.2G5, 1891
As 10 tho physical condition Of tn,
mine Manager Dern says
~ wish II We're possible to make
close estimate OF the tonnage of ore %
sight IN the mines, but q must be ap
parent To any one reading what | hav,
said about the workings IN cavet
ground that this IS out az the question
The best could hope TO do would D.,
| 10 make guess. ! said last year ina
! thought the ore then developed ough
| 20 admit Of profitable operations for a
| least two or three years, and that Their
! was no reason TO doubt that durnt
| such % period many new development
/ would be made Tho years result
| have shown that that estimate was Ger
| tainly conservative. feel iust az con
| tident today that we have nj lels
twice as much ore IN sigh. as we ha,
| year ago"
The exhibit IS one Of the best mad
! by the Con. Mercur for years, ana re-
| feet credit ON the management. VIII,
| have brought II 10 ils nresent condition
! by well directed, intelligent effort.