Bisbee daily review., 1907-06-23
TRURH OF UTAH CONSOLIDATED
 STORY
Eminent Authority Shows That "lean Streak Tale Was Started for Stock Jobbing Purposes.

BOSTON, June 22.-Utah Consoli- dated was the victim on Tuesday. of an apparently successful bear attack. A story published in the Boston News Bureau contained the news" that the Utah ConsoHdated's ore bodies were cut off at the S00-fooot level by a fault which had thrown it's ore bodies uD the hill 200 feet into the Tampa property. and that a winze to the 500 level had failed to find ore; and that because of lack of ore, Manager RisqHe had advised the directors not to build 8 new smeIter
 The action of the market indicated that careful preparation had been made in advance for the effect the story would have on Utah Consols dated stock, says Geo. l.. Walker. The affair recalled to the minds of brokers and others the similar story, published in the same news service when Utah was selling around $41. It was then declared that the same winze had encountered the ore and found it very lean. Lawson attacked Utah at the same time, through the issue of tissues" etc, and some be- lieved that there was a secret under standing between them. The former onslaught carried the price of Utah down to $39, and it afterwards ad- vanced to $79.
 1t is interesting and suggestive that the latest story. from the source re- ferred to, declares there is no ore at all at the point where the former story admitted it's existence, but de- clared 1t lean or low grade.
 A newspaper publisher is excusable If he occasionally, through unayoid- able error, prints something that is misleading; but when he disregards well known facts; such conduct must be regarded as malicious Tn Utah's report for 1904, Manager R. H. Chan uing, gentleman whose integrity has never been questioned, said:
 An inclined winze was sunk in the foot wall of 'M' ore body from No. s to s 1-2 level, 50 feet below At this level a station has been cut, and crosseut north is now being driven with the intention of developing the ore on this level before sinking to No. g level is resumed This cross cut is at present 20 feet in ore, show ing satisfactory yalues.''
 t There is a definite statement from 1 Utah Consolidated's management that | the ore was not only found at the 800 | level, but also 50 feet below, and also | that it showed satisfactory values.
 This winze story was news three or four years ago. The winze was al l lowed to fill with water in 1905, and | exploratory work was turned in other I directions. In his report for 1905
 Manager Charming said:
 | ''Exploratoin work was confined to
 the upper levels, for although the low
 est workings in all the ore shoots are 1 in ore, and by sinking additional ore
 reserves could be put in sight, it was 1 considered better policy to first thor
 oughly explore the upper portion of
 the mine, both from the standpoint
 of good mining and to avoid constant pumping and hoisting expense Here is a positive statement from l Manager Charming that the ore re- serves in the mine do go to depth, | and that additional reserves could be 1 created by sinking. Nobody will | doubt the accuracy of his statement. Yet, two or three years after the de- 1 velopments referred to were made l and the facts concerning them given ] officially to stockholders, there comes
 this specially prepared news story" 1 which disregards the facts and pre-
 sents statements and rumors to fit
 the occasion.
 | Manager Risque has not advised
 the directors not to build a new smeit- CT. The company has just made a payment on the purchase price of it's new smelter site. Former Man ] fhn and the geology of the district better than any one else, planned to extend a tunne. through the mountains and { cut Utah Consolidated's ore bodies | l 900 feet below present workings. 1 Of course he would not have made I such a recommendation unless he knew to a reasonable certainty that the ore went to depth.
 1 The existence of a fault between | the Utah Consolidated and Tampa ! mines has been known for years.
 The claim in which the Tampa is
 working, however, is only 200 feet wide, and Utah Consolidated owns properties completely surrounding 1t. 1t owns more of the Yampa's vein l than the Yampa company itself.
 The fault in question probably cuts the big limestone belt which carries
 utah,s ore, several hundred, and per
 haps thousands of feet below it's tun- ! nsl level. The ore Is probably
 thrown up the hill some distance; but Utah Consolidated owns the apex,
 and all judicial preeendents serve to
 demonstrate that the company will
 have the right to follow it's ore re gardless Of faults.
 | In 1902 it was discovered thai Wolverines rock would decrease ir
 mineral yield after the capacity oi its stamp mill was increased, and as a result the stock declined to s42
 Since 1t sold at SAP. stockholders have
 received a total of $51 per share n dividends. and they will soon get al least s10 more In the meantime the price of the stock has advanced ovei
 900 per cent. Utah Consolidated may prove to have as muA ahead ol ] it now as Wolverine had five years
 ago.
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