The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-09-16

4 u
| Requa. His father, Isaac l.. Requa, wns
| a prominent engineer. millmnn and miner
on the great Comstock lode, among the
galaxy of wonderful miners which that
wonderful lode developed. Among the I'm
| mortals of the Comstock" he held an even
pace with Mackey and Fair. and, as old
! timers OF thirty-fve years back will re-
call, really did the greatest single piece
of work ever accomplished on the great
lode-sank the biggest shaft ever put
down on the Comstock to a vertical depth
of 1880 feet, Only mining engineers aware
of the Creeping" ground and the exhaust
less rivers of water encountered on the
Comstock can fully appreciate the feat.
II made him famous in a period when the
best mining engineers Of the world were
assembled in the development OF that
richest of mines. The name Requa has
foreign-an n-English-look, but l be-
lieve the family are really Of old Yankee
stock.
Mr Requa went down to Ely from his
home In San Francisco about seven years
ago. and after studying and working and
working and studying for about four
years I'LL he got straight line on the
situation, he somehow got his hooks onto
couple OF old Incorporated properties,
the White Pine company and the Boston
Nevada company, which were staggering
along toward bankruptcy. Their prop
critics aggregated 600 acres right on the
porphyry In the heart OF the camp. In
order TO finance the project successfully
he combined them, In 1908. In new COM
pany the Nevada Consolidated, capital
lied at fve millions with shares SIS each,
par value, That gave him funds to pro-
ject development on an extensive scale
and he has developed the Nevada Cousoli-
dated into what is almost certainly the
greatest mining proposition In the United
States, Mr.. Requa has built 100 miles
OF railroad to facilitate the operation Of
that great mine. That has cost more
than the price of passage by Twicken-
ham ferry to Twickenham town. but he
dug up the needful. The purpose OF the
company is, when all is going full blast
railroad steam shovels and treatment
plant-to take the ore out OF that mine
at the rate OF 10 900 tons a day, and he
has pulled down the money 10 the tune
of two millions and half TO put In
great plant OF concentrators, roasters,
smelters and convertors 10 treat that
enormous daily output. There Is an
astounding tonnage of ore blocked out in
the mine and ready TO break as soon as
The treatment plant is ready TO handle IL
millions upon millions OF tons, year
ago the eminent mining engineer, J.
Parke Charming of New York, who ranks
ss a mining expert only Just below John
HAYS Hammond. examined the property
about 5000 600 tons ''ln sight. Last
January Fred ". Bradley OF San Fran
cisco consulting engineer TO the company,
reported Officially % 900, 900 tons In sight
Both these reports have been puollshed
officially. Since the last official report by
Bradley development has been pushed en-
ergetically and il Is now reported-better
saw rumored. for no official statement has
been given out-that calculable tonnage
Of 10. 900 900 is in sight,
Charming Report.
Channing's report asserted that mot
above a hundredth part of the company
ground has been explored" and II is
pretty certain that not as much as
per cent of its ground has been eX
plored I'D TO this date-but call 1t
per cent Then II the whole 600 acres
holds out at the same rate. which OF
conrse isn't probable. there are calcu-
lably two billions OF tons OF ore In that
single property on the great Ely copper
deposit, And that's only one properly
on the astounding deposit, take notice
There are others not so extensively ue-
veloped, but showing big. Ihat gives
you some idea OF the magnitude Oh the
great Nevada Consolidated-not that
Won have any right TO believe in the
two billion tons till the ore has been
blocked out and put in sight, OF course.
Now, let's figure on the money value AT
the present price OF copper, which 10
say, 1872 cents n pound. II mas peen
demonstrated By exhaustive tests that
the net recovery after allowing LOT al
losses In treatment will not be less
than 40 pounds of pure copper 10 the
ton. Mr. Charming showed by exhaus-
tive figures that the Ely copper can De
laid down in New York at total cost
not exceeding seven -eighths cents auo
three one e-hundredths OF cent pound
0.O703. Let us say for the purpose OF TINS
calculation that the present net pront
is exactly II cents a pound. Then we
have 40 000. 900 ttons) y 40 llbs') IL
(cents) equals $4,000. 900 That's not
gross production. mind you, Dut net
profit. II that ore can be hauoleo at
the contemplated rate OF lO,ooo tons d
day IL will take over ten years-3oo DAYS
in the year--to work II out, say ten
wears. Then the yearly net profit would
be Sl7 900, 900. That's SIG share on
So stock. or 800 per cent year on the
par value of the shares. Since the ens-
genheims bought in the capitalization
has been increased 10 1,2OOO shares'
s. par OF course. gentle reader, you
possess the common sense 10 ooserNe
that the foregoing figures are IN part
conjectural, but they are based, you nave
not failed TO discover, on ohcial ana
RESPONSIBLE statements as open TO you as
to me. since they have been published
So don't go and get IT into your heao
that I'm trying 70 hornswoggle YOU TOT
that aint my game. l don't play " that
way. I'm giving you all the means OF
forming an independent judgment that
l possess myself.
| want TO impress upon your nina tha1
the great Nevada Consolidated is only
one mine OF that great camp ana thst
some of the others with equal develop
ment NAV prove even greater, nave
adopted that mine TO illustrate In
rough general way the astounding vol
ume and value OF the great Ely copper
deposit. because IT'S published reports
furnish a basis for definite analysis. ]
do not myself pretend TO believe that tne
Nevada Consolidated will produce two
| billion tons OF workable ore, but II may
contain as much as half that. and n ~
contains only quarter, that is Twelve
! times as much as the sum on which we
| have Just hgured a net proht OF Slio,-
900. .O00-or a total net profit OF over
! SO, 900 900 600 II the output he main
| taIned at n mn TONS n day 900 DAYS each