Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-02-06
COLUMBUS CONS.
fine EXHIBIT.
Interesting Report Submitted to
Shareholders at the Annual
Meeting This Afternoon.
FROM PRESIDENT JACOBSON.
Company Has Big Balance In Bank
No Indebtc,lncss--What the
Report Contains.

The annual meeting Of the stockhold-
,rs OF the Columbus Consolidated Min
Ing company is being held this AFTER
noon. At 2.30 O'Clock the election OK
4 new board of directors had not been
reached, but indications at that hour
pointed towards the selection OF at least
the following to serve during the ensu-
ing year. Tony Jacobsen, Clarence
X. Mccormick, S. A, Whitney and Ed
ward r. Hall, the latter prominent
Chicago banker. Mr.. Whitney, II is UNI
derstood ls to hold the position OF
treasurer and possibly secretary, to
succeed Arthur r. Snow.
In his report to shareholders, Presi-
dent Tony jacobson presented a most
satisfactory exhibit. IL shows the mine
10 be In an exceedingly good physical
and the company's treasury In u splen-
Sid financial condition.
According TO the report, the receipts
pi the company during the year lsOo'
from all sources, aggregate szol,ozoi
Of this amount s67.lS5st came from
the sale of concentrates. SAL ,6is.6S from
Tho sale OF crude ore, 1854 from
81 power: insurance, 1861, sale OF
treasury stock. $1,000, the balance com
Ing from sundry items.
The disbursements, including *6sso''o
to salary account; s713O3.4S, mine pay
roll sI,is6.ii, power pay roll slSslllo
10 mill pay roll; power plant improve
ments. $3,s54.5l; building improvements.
tlS.275.4t; ore haulage, sll,2sZ.i9;
amounted to s25l,47772.
The statement Of resources, Liabilities,
rte, are summed up In the foiloWlhg'
Resources Mining property cash
price paid, SIS, 73i; supplies on hand at
mine t667513 machinery In mine W.
I02.17, concentration and improvements,
cost. s36, 59s So power plant and inn
provements. cost, si9529.20, buildings
and improvements. sl6,0I0.56, stock GER
.ificates 1862 30; cash on hand, s5sO35;
accounts received SELLS. balance on
deposit, t2s,6i6,73; paid for development
10 date s2s,S05.62, total. s426,02b.so
Liabilities--Capital stock, Si33, 220IO;
emergency fund. Sl2i.56, profit and loss,
1929 ,6S0.6i, total, Si26025.g0.
Real Liabilities-December bills on
ale s5s2O2: credit balance. s29, 666.2i
President jacobson says In his re-
port;
The year commenced with several
necessary changes at the mill, such as
changing trommes. jlgs, cassifers.
ETC.. In order to get the proper classi-
1cation to meet the requirements OF a
new mill, to handle a certain class OF
pre and obtain the best possible saving.
These changes have been made and
The mill Is now IA very good condition.
It's saving being as close as practical by
concentration. There have been Install
sd three sets of scales for weighing
crude ores and concentrates on Jig and
table iloors, enabling US TO determine
Exactly our per cent of saving. 4 VIII
1ey sinner aud a shines iig have been
added to the mill equipment
A total OF $50 latons (weO OF crude
pre- have been milled. averaging $3.50
per ton. or a gross value Of tlll 1875
fry weight; which produced 2,9561j
ions dry of concentrates valued at
Is9.Si per ton or a gross value OF $50,
'4s.26, effecting saving Of 7Sis per
rent and on Il concentration basis OF
rs TO /.
COST or MILLING.
The cost OF milling was $3.50 per ton,
divided as follows;
improvements and construction 5 10
supplies .........,,,.,..,..,.., LOS
Operating tpower. assays, etc.).... 1888
Total ........,.,...,,.,,.,. S2.5S
MINE DEVELOPMENT
No. 3 shaft has been sunk 20 feet,
then a drift runs east through large
ore body for distance of $50 feet, ut
Which point a shaft was sunk ll0 feet
and raise driven ITO feet to tunnel
level.
A large station has been cut on the
tunnel level and two-tOn skip put
la operation, 40 that n0w we have a
we'll equipped main working incline shaft
20 feet deep below the tunnel level.
a station has been cut ON the 2OC
level, also have drifted south on this
eyel and cut the Braine assure. expos
Ing u body Of first class ore FIVE feet III
width We are following this to poinl
OF contact, and already have drifted ST
feet IN this ore, with no decrease III
width or value. We have done 500
feet Of development work below TUNE
level during the year. and have extract.
ed 1915 tons OF crude shipping ore OF
value S5b,ls per ton, or total value o,
sl60,s06,SS IN practically development
work alone,
Shaft No, I Is the Rowland shaft
which has been sunk rs feet below tun
mel level, with 200 feet of drifting from
bottom tho contact. This contact 1,
being followed TO intersection witt
assure and already there Is a large bod,
Of milling ore to draw from.
Drifting Is in progress in the Brain
fssure. on the tunnel level, to con
tact about 1000 feet west OF No. 3 shaft
At intervals good milling ore IL tnkei
out and We may encounter larg
continuous body Of ore az any line.
In all, we have done 2,S73 feet OF de
veiopment work during the year. am
have mined l4I0S tons of milling an,
shipping ore at an actual mining cos
of $2.iS per ton.
IMPROVEMENTS MADE.
Early In the year brick assay fur
mace was completed, also a house 10
the mill superintendent and othe
small odds and ends,
We have constructed an ore bin q
1000 tons capacity, also a fine boarding.
house. which Is strictly modern 4
every respect, and will accommodate
i25 men.
A hosting engine has been erected a
the incline shaft. capable Of handln
the two ton skip at depth Of 500 feet
also an electric pump has been Unstable
capable OF handling 800 gallons Of waite
per minute under head of coo fee
This pump win save 80 horse powt
elertrical energy,
A rock drill sharpener has been adde
to our equipment; also an addition,
air compressor with a capacity Of g.
cubic feet ~ free air per minute. TT
mine pumping system has been dupl
Gated; and have also let contra,
FOR an additional waite rWheel and