The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-06-12
utah CON. HARDLY
ON ITS UPPERS
Boston Gets Frightened at Re,
ports of Conditions at
the Mine.
THINK TURN OF ROAD
HAS BEEN REACHED
Company Must Go Deeper for
Ores, Meaning Cost Will
Be Greater.

Has the Utah Consolidated company,
one OF the noted old kings of the min
ing and dividend list OF Utah, reached
that stage in its career where the
downward trend is inevItablel The
property has produced great many
millions of dollars, it has distributed
among its stockholders something like
six and a half millions Of dollars, That
is a pretty good record for 4 property
that has been revived to a second era
of usefulness. Boston seems 10 think
that the Utah Consolidated company
has practically exhausted its Bingham
possessions, and that the turn of the
road has been reached.
Tuesday morning local circles were
somewhat startled to see the stock of
this organization drop away out of
sight IN comparison TO what II has
been during the present panicky times.
II recovered later on in the day, but
there was much of IT in sight apparent
" for sale. Shortly after the drop was
noted upon the blackboards, there came
a message over the Pollock wires, taken
from the Boston News Bureau, that
read ms follows:
"Wc have received some very def
mite information from disinterested
sources as 90 the underground develop
mcntS of the Utah Consolidated prop
erty. The management will not permit
of an examination of its property, nor
will it give any information as TO un-
derground conditions, so that we have
been unable TO confirm our reports, but
the source of our information has al
ways been accurate in the past. We
are Informed that General Manager
Risque has advised the directors against
building new smelling plant. although
the former manager Il. II. Charming,
VINO is now in charge of operations at
the Cerro De Pasco in Peru, not only
recommended the building of a new
smeltcr, but took steps for the erection
of such plant nine miles north of
the mine.
Risque is said to have recommended
that the present plant be operated as
long as permitted by the courts. after
which shipments would be made TO the
Washoe plant IN Montana, where the
Utah ores could be used TO good adj
vantage 1t is said that this decision
was based upon the fact shat the Utah
Consolidated ores have been cut oft
at the 500 foot level by fault which
has thrown the ore up the hill a dis
tance of 1900 feet TO the Nampa. The
lowest workings in ore on the Utah
Consolidated property are on the 700
foot level. From this level, a winze
was sunk TO the 500 foot level, but no
ore was found.
'"This does not necessarily mean That
the Utah Consolidated has bottomcd on
the 500 foot level, for developments
through the fault may hnd the copper
again, but the above is very impor
tant development, and il may explain
why Utah stock has been so persistent
ly plentiful, OF course the Utah Con.
sohdated has large supply of ore for
extraction above the 500 foot level.
possibly the net value Of present sell
ing price of it's shares but underground
developments of such Importance should
be furnished stockholders as well as in
formation of favora bic character,
Local talent, usually well informed.
do not take the present condition of
the Utah Consolidated property so much
TO heart as the East How these ru-
mors get started no one can explain,
but in these panicky times il is no
trick at all to turn loose scare or two
for the timid stockholder. IT is likely
that the public has just been let in,
perhaps accidentally, on Q condition in
the Utah Consolidated mine that the
officials and management have appre-
ciated for some time past, and that the
general public should have anticipated
without having il come all in bunch.
attending SIX years or more Of faithful
and persistent mining and extraction
OF ores. Such course of mining nat
urallv leaves rather prominent hole
in the ground and when the thousands
and thousands of tons of copper bear.
ing rock are taken out, there is little
but space left behind. This is the case
With the upper levels of the Utah Con
solidated Above the tunnel level the
cd
a result there is no more ore there.
This is primary principle of mining,
that ore from ore leaves nothing.
The Utah Consolidated ground how
ever. does not end with the 500, nor
the T00.foot levels. There is much vet
beneath to explore and take ores from.
The Utah Consolidated for n number of
seasons has been distinguished among
red-motal producers AZ being tho com
pany TO produce copper at a less cost
per pound than any oJner company in
existence. This has been due. not only
TO the character of the ores, but 10 the
manner in which the management was
enabled to mine the ore. 1t did not
cost n great deal TO bring the rich rock
out via the working tunnel. But now
there is TO be change in the affairs of
this organization.
Under the circumstances il is very
likely that the era of ive.cent copper
production for the Utah Consolidated
is over. The company henccforth will.
be compelled to come up to The level
of other copper producers. This may
mean ten'cent copper. it may mean
more or less. This Will he so for the
reason that from now on the company
must sink after their ores This in
turn logically means n greater cost in
extraction owing TO the necessity of
raising this ore, and also cost OF
keeping the lower levels Of the mine
free from water by pumping, Both
these will be unusual expenses, and will
tell in the profits,
When Manager Risquc took charge
Of the mine upon the resignation of
Manager Charming, ii is understood
that he found fully one million tons of
copper ore upon the lower levels that
had not been touched up to that time.
1t is well known in Bingham circles
that since Mr.. Risque has been in
charge he has not taken one pound of
these reserves from their position This