Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-08-07
UTAH COPPER AS
VIEWED IN BOSTON
Prospective Dividends Of Three
Hundred Millions Figured Out
For This Bingham Mine.
WHAT ASSAY SHEET SHOWS.
Company Making Copper at Cost Of
hbout Ten Gents Per Pound
Milling Process.

Utah Copper Is given considerable at
,iention IN The Boston Commercial OF
last Saturday, IN which George J..
Walker gives comment as a result Of
his late visit to this Bingham producer.
Utah Copper stock FIRST came TO the
attention OF Boston people about two
years ago" says MI Walker. when
the market price was s. to s. per share.
1t has since advanced above $50. and at
this writing seems TO be in excellent de-
mand between s2s and $50 per share. 4
price Of $50 per share means a market
valuation OF $4,000 000 or the same that
$50 per share represents for Utah Con-
soldated. Though this seems tre-
mendous price Tor an enterprise which
has yet earned less than 81 900 900 In
total net profits, the principal owners OF
the stock figure out prospective divi-
dends OF something Ike $500 1000 or
5000. o00. 900.
"The Utah Copper company Is being
credited with demonstrating the prac-
ticability Of treating the geat mineral
tied porphyry deposit OF the Bingham
district proftably. Col. +. A. Wall Is
the father Of this enterprise. he got
together the greater number Of the
claims which make up the company's
property Is or more years ago. and
throughout the period when the price
OF copper was low and when IL was
practically impossible to interest new
capital he waited patiently for the COM
ing OF the time when his dreams OF
tremendously profitable concentrating
enterprise would be realized. He inter-
ested capt J. r. Del.amar I'm the prop
orty number Of years ago, but De-
l.amars Interest was turned over Ia the
United States Reduction company OF
Colorado. little later. and d. &. jack
ling, general manager Of the latter COM
pany ana now general manager Of the
Utah Copper company, made extensive
mill tests and demonstrated beyond
question that the ores could be handled
so as to yield a substantial profit.
Later on the United States Reduc-
ton company purchased from Col. Wall
a sufficient amount OF his stock To give
Il A four-tifths interest and supplied
money to build the mill. near the en-
trance OF the Bingham canyon. which
has now been operating for two years.
The greater portion Of the United
States Reduction company's holdings
were Sold about a year ago TO the Gug-
genheim Exploration company and an
option given on the remainder Since
then an issue Of s.. 000. 600 OF bonds. con-
vertibe into new stock at $50 per share
$4,000 shares. has been issued, and
their conversion viii bring the capital
ization or the company TO 600. 600 shares
The money obtained by this bond sale.
together with the current earnings
should provide all that wiz be required
TO build the extensive milling plant and
put the property In shape to reduce
5000 TO 10000 tons OF ore daily.
The Utah Copper property occupies
the bottom ~ the main Bingham can
yon and extends for a considerable dis
lance up both It's sides Il has been
developed about 5000 feet one way and
900 feet the other. one can enter a
tunnel on the right hand side Of the
canyon near the lower end OF the prop
erty and, after travelling for miles
through development openings. come 10
the surface on the left hand side OF the
canyon within 200 or 800 feet OF the
starting point
SIMILAR To BOSTON con.
The same remarkable uniformity OF
grade characterizes the ore of this mine
that exists In the Boston Consolidated.
II Is claimed that Utah Copper ores
average i 10 i per cent higher In cop-
per contents. and that the secondary
enrichment zone is 200 feet thicker than
II has been found I'm the Boston Con-
solidaied. This, however. is a point that
does not call for earnest discussion at
this time. IL Is certain that there Is al
least 200 feet OF pay ground throughout
the entire area that Is being developed
by both companies. and n there we're
only 100 feet the deposit would still be
Of tremendous value
In passing. II may be said. however
that several deep exploratory drll holes
lh me uiah Copper property give basis
Tor the belief that the porphyry car
res approximately ? per cent through
out a zone which Is 800 feet 20 800 feet
thick. II the new mill can be made TO
save y pounds OF this copper from
each ton OF rock, together with 10 cents
10 80 cents % precious metal values.
the property should eventually nav
more money IN dividends than has 50
far been distributed by an Of the great
and wonderfully profitable mines OF
the Lake Superior copper district
A SHINING PROPOSITION
1T is the intention Of the manage
ment OF the Utah Copper company to
grind the ore IN chilean mills To a fine
pulp and pass Il through extremely
fine mesh screens, making it-viewed
from milling standpolnt--a shining
proposition az the start This Is be-
ing done In the company's present mill
and 50 Tar results are not an that
could be desired. Somewhere be-
tween 6S and IS per cent only Of the
values are being recovered. Certain
changes are being made in the mill
~ present, however. which Will be IN
corporatcd also I'm the new mill. aud
these are expected 20 Increase the net
savings 20 70 per cent
"a modification Of tho cayirg sys-
tom Of mining is now IN use In the
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