Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-06-05
Fiscal Year Closed With Balance
In Treasury Of Nearly Nine.
teen Thousand Dollars.
REPORT OF SUPT. C. C. GRlGGS
What the Production OF Mine Has
Bcen-Much High Grade Ore
Marketed.

AT the annual meeting Of the share.
holders OF the Uncle sam Consolidated,
which was held yesterday afternoon.
the Old board Of directors was re.elsct.
ed. The board consists Of John Dern.
James Chapman, George Havercamp, B.
r saunders and James Nelson.
During the past year. according 20
the financial statement submitted nine
dividends Wers distributed, con-
sisting of S45 900. while the ex.
pense on account OF lobor footed 10
20 Si4. 1904 The total receipts OF The
year, including the tl9,263l7 on hand
at The beginning Of the year, footed up
to 3l5s.e772s.
The statement OF Supt c. G. Grlggs
shows that the Uncle Sam company
during the season Just ended shipped
altogether 1916 tons OF ore. which Nv
eraged S2l.SO a ton, giving a total valI-
alton to the output Of sl26s3022. This
includes, however. about 400 tons OF
ore from the Humbug dump, which
brought about s. a ton. The company
has on hand at the present time SIS.
6si5l.
out Of the receipts OF the year the
company paid out t6So3.77 In the form
OF Richmond and Anaconda assess
ments. The sum OF ssS42 was paid
out for development work. A compl ste
compressor plant. including the pipe
and drills, were purchased during The
year at a cost OF about $500. and 4
new hosting engine was bought and
installed. Construction work 10 the *
tent OF $1,000 was done during the year,
and when the amount OF dividends Is
taken into consideration, the company
has indeed closed a most successful aud
meritorious year.
IL Is 10 the present ore developm ents.
however, that Supt Griggs calls espe-
clal attention. The 500-foot level Of
the mine has been the scene Of many
interesting developments during the
season. In prospecting around this
level. the management found that the
ore crossed the contact about $50 feet
ahead Of the point where the feeder
was first encountered. One strange
thing was found. when encountering
the main vein Il was apparently 60
ing around the end OF the dyke. At this
time the strange formation became
curious. and 1t was developed that the
ore not only did 60 across the strike
around one end. but Il made directly
for the end and went under the dyke.
This dyke therefore. contrary 10 the
past conclusions. Is really the Gaping
all veins heretofore encountere 90 into
the enormous body under this Gaping,
making one OF the greatest ore bodies
in that camp on the 500-foot level a
winze was sunk for 40 feet all In ore
and the management drifted from this
level 100 feet under the parallel to the
dyke all I'm ore. supt. Griggs stares
that It is impossible 10 state the ex-
tent OF this ore reserve, as each ad1i-
tional foot adds to 81.
Fully a per cent ~ the ore mar
keted during the year was high
grade. which averaged 1856 a ton. The
ore IN sight In the mine II exactly this
grade Of ore. so that a much more pros
porous year is ahead Of the Uncle Sam
company than It has Just closed. The
ore In sight al this time IL much great
or IN amount than Il was the first Of
last September During the year the
mill made the company the neat sum
Of $4,000 which Is more than its or'gl-
nal cost and this plant only handles
that portion ~ the low grade ore That
otherwise would have 70 be thrown over
the dumps.