Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-03-28
WALKER TALKS
OF BOSTON CON.
Thinks Plan to Organize an indie.
pendent Smelling Concern
Has Been Abandoned.
FEBRUARY PROFITS 100000.
CompaDy's Big Cash Balancc--A Div.
idcnd Predicted by Sep
TENDER.

In his comment on Utah Copper
stocks, George l., Walker In the Boston
Commercial has reached the conclusion
that Samuel Newhouse will not launch
an independent mining, milling and
smelling company to enter into compe-
tition with the American and United
States companies which now handle the
custom ore business OF this valley. Mr.
Walker Gays:
Boston Consolidated interests have
apparently abandoned their hastily
formed plan of week ago TO organize
an independent mining, milling and
smelling company They now state
that the company's mill will be erected
at Garfield. near the Utah Copper and
Smelling plants, and that they will hold
the latter company TO its contract to
smelt $50 tons of sulphide ores daily
from the Boston Consolidated property
beginning the LIST day OF next June.
Profits for the month Of February
exceeded $50. 900. with total shipments
only $50 tons of sulphide ores daily, In
dicnting net earnings Of $3.50 per share
on an output Of $50 tons daily. As the
Smelling company has agreed 10 fur
nish facilities not later than June !, to
treat the tonnage OF ore named, Bos-
ton Consolidated interests are conf
dent that they viii receive the initial
dividend on their stock before the end
OF the present year. There is now 81
700 900 cash in the company's treasury
1T can be stated on the best author
ity that the most friendly relations con-
tinue to exist between the Newhouse
and Guggenhein interests, The ter
mination Of the negotiations for a COM
bination Of the two companies was the
result Of disagreement In the reports
OF the experts who sampled and meas
ured the ore reserves In the two mines.
Everything except the ore actually
blocked out was excluded from the
measurements, and the figures over
which the disagreement occurred are
understood to have been 29.000,00O tons
Of porphyry ore in the Utah Copper
property and p 200, 900 tons Of porphyry
and I 200. 900 tons OF sulphide ores In the
Boston Consolidated.
THE Guggenheims said they must
stand by the decision OF their engi-
neers. who We're headed by John Hays
Hammond. Samuel Newhouse de-
clared the Bonston Consolidated mines
were worth as least as much as Utah
Copper. and he positively refused to
allow the latter any preference In the
proposed exchange of stock.
Now that negotiations are on, the
development force at the Boston Con-
solidated mine will Immediately be
doubled and the work OF blocking out
additional ore reserves will be pushed
steadily day and night. One insider
who is thoroughly conyersant with
mining. says:
81 feel confident that by Sept. l we
shall have fully 75,0O00O0 tons Of por-
phyry ore blocked out ready for the
tape line Of the most discriminating
mining engineer that can be produced,
We have proved the continuance and
value of this ore to depth Of 700 feet
below present workings. IL 1t were
blocked out as far as the drill has
gone we would have l50000,0 900 tons In
sight. We are certain that there are
800 900. 900 tons OF this ore In the prop
erty. which will yield approximately
81 40 per ton. net.
"In addition to this, our sulphlde ore
body is yielding 65 pounds OF fine cop
per and 81 "A In gold and silver TO the
ton, and we have just encountered a
second body OF sulphlde smelling ore
which may exceed IN value the one al
ready developed. At last accounts the
discovery tunnel was 20 feet In ore
running from Az to per cent copper
and around IS per ton In gold and sill
yer.
we are pretty well satisfied that