The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-04-28
LY-JUDGE'S
ANNUAL REPORT
President Reviews Operations
of Last Calendar Year and
Explains Present Conditions.

.Aff0ittO SOSttA S0ttatAt0tt0a
Owing to the months OF absence of
President John j. DAILY of the Daiy-Judge
calendar years operations have been late
In issuing from the press. They are now
being prepared for the mail, however, and
within few days the documents Will be
in the hands of the shareholders. Owing
to his early retirement from the com
pany's management, President DAILY adds
a paragraph or two TO his report dealing
with mine conditions as they have de-
veloped since the first of the Syear. His
report d brief and to the point and will
. be read with interest by everybody con-
nected with the company and by all who
sre in any way identified with the min
3ng district of Park City.
Following is the pith Of Mr.. Days re-
port and pertinent extracts from the
financial statement of Secretary-Treas-
uFer c. w. Lambourne:
Presidents Report.
At the beginning of the year the COM
paDy had an Indebtedness OF NS0. y76 g.
! represented IN soc 600 worth OF outstand-
Ding bonds and an OVerdraft ct the bank
of s21.sB. 81 Though it was well along IN
thu year before the mill was brought up
10 the required working capacity, It will
he ssen from the financial exhibit that
The year closed with all indebtedness dis
Enlarged and aLNcash balance In the treas
ury Of SEQ OS8. 81 The net earnings of the
pear were sS0o.o1Sso6 or az per cent OF the
kro<s earnings.
During the year es-szs tons of ore were
srsned Of this 53s01 was of a shipping
grade. beng one TO every l-es tons Of sec
e1 es o~s Z treated In II. NH was g. 80
SONS. which was reduced TO 96SS tons of
head concentrates and $50 tons of iron
and zinc .fniddlings. showing one ton OF
conceEtrefes produced from each 81 tons
OF crude ore. The average amount OF ore
treated per day has been 165 tons, the re-
cults obtained In the way of recovery and
y alive Of product being very satisfactory
Years Development Work.
Dusing the year approximately 1000 feet
OF devalol cent work has been done,
which consists OF 800 feet OF drifts. $40
feCt OF raises and a sixty-foot Wine. This
is * :lusiN g OF the prospecting work done
in thu ore bodies. he drifting was done.
mostly on tEe 1,500-foot level where
strong shoot was opened showing width
of u IN ten &c thirty feet by go feet in
.lenfsti. This ira is practically free from
zinc, but high Il iron, making 1t a very
desirable ere 'ol the shelters as well as
for concentratiOl A good part OF the
crude ore shipped during the year came
from this stope, and as there are ore
bodies very similar in character opened
on the LOO and ], 400-foot levels directly
above we can reasonably expect to find
good STOPPING ground between these levels
Ore Bodies In McSorIey Drift.
In the McSorley drift. just above the
! 200 level, the ore bodies have greatly
improved in both quality and quantity
as the work advances westerly toward
Bonanza flat The ore body in the face of
the stope now measures fully fifty feet.
the greater part of which is of milling
grade. blt out of which quite tonnage
Of shipping ora is sorted. This ore shoot
Is opened in places for several hundred
feet southwest from the point where il is
nc $ heiI n q, and as the ore has va
til FTr~., Co. -, IkL
and tn to fifty feet in height,
IL -dily be seen that this shoot
Lon ne,
produ-iLs U.e of an excellent quality,
as are those on the 1890 level. The
amount of shipping grade ore obtained
varies widely i'm the different ore bodies,
some of the Slopes yielding mostly con-
centrating ore, others producing literally
of shipping grade.
Possibilities of Bonanza Flat.
While the past year has been a good
one as respects the development of new
ground and while the known ore bodies
have been called upon for but a fraction
OF the tonnage exposed. consider that
We are but now entering that portion of
the companys vast acreage that VIII
Drove the best and most productive of all.
The possibilities OF what Is termed the
Bonanza flat region become more and
srectton, and the results being attained
lby others away to the southwest from
the limits Of Daly-Judge ground go 10
emphasize my long-maintained opinion of
zhe mineral richness oe our southwest ter
Hltory.
This region should and will be devel-
nped with as much speed as is consistent
With good mining and the complete open
ing and development of that portion of
all the ground between the 1900 level and
the surface
Mine Conditions Now.
On account on the late date of mailing
our annual report this year. perhaps
few lines from me on the present condi-
ffou OF the mine would be advisable
Since the first OF the year. as 1 learn
since my return from several months
labseuce. the ore bodies on the 1,500 level
olave become somewhat Impoverished and
fhey are not now producing the amount
OF shipping ore that they did in the
earlier stages of development This fact,
together with the shutting down of the
zinc plant 10 which We sold Ou- zinc prod
uct has reduced our earnings perceptibly-
The latter, however, is only temporary,
as other arrangements are now being
roade for the sale of the product. In
other parts of the mine visited l found
substantial improvements, notably in the
idcSorley stope, where the ore bodies still
continue to improve, which insures an
Increased tonnage for the mill, prepara-
lions for the handling and treatmeft Of
which are now under way. Taken in Its
entirety the mine is looking exceedingly
we'll and the year promises TO be a most
successful one in this, the early stage Of
its career
Financial Statement.
Receipts
From sale of crude ore. concen-
tIates. zinc and iron middlings- So sc