The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-12-27
GREAT FUTURE
IS IN STORE
For the Utah Copper Co. Is Belief
of Hayden, Stone & Co. Who
Urge Friends to Buy Stock. :.

vestment in the Utah Copper COM
pany received by many people in this
section during the last few days, from
Hayden, Stone and Company of New
York. 1t gives many cogent reasons
why this stock at prevailing prices is
one of the most attractive buys on
the entire list of mining securities.
| The company has outstanding 510,-
| 600 shares of its capital stock with
par value of $40 each. There are
also outstanding 100000 par
value, of 6 per cent first mortgage
bonds convertible into shares in the
company on a basis of par for the
bonds and $40 share for the stock.
| Assuming ultimate conversion of the
bonds, the effective capitalization of
the company is 100000 shares. OF
this capital stock 10000 shares were
issued one year ago at $25 per share,
cash.
| Continuing, the circular says in
part:
The mining property of this COM
pany consists of about 1870 acres in
the Bingham district of Utah. Over
large part of this acreage there is
vast deposit of rock through which
are widely disseminated grains of
copper ore. The rock has an average
value of about per cent in copper,
or 40 pounds of copper per ton of
rock. The aggregate extent of open
ings on this deposit is at present APP
proXimately 10000 feet, and possibly
5000, 900 tons of ore have been
made available by the work to date
Various estimates have been made of
the probable amount of ore in this
deposit, some of them running into
the hundreds of millions of tons.
The ores of this property will bel
mined by an open cut or quarrying
system. Thereby the company avoids
the necessity of any expensive surface
equipment. 1t has no costs for hoist
ing, timbering or pumping, such as
are common to the operations of most
other copper mines, and it escapes
any possibility of cave-ins, under
ground fires, etc.
The Utah Copper company was Or
ganized in July, 1903, under the con-
troll of Captain ]. r. Delamar and
Col. Wall, and thereafter the proper
ty was most energetically developed.
Some three years ago the company
erected an experimental mill which
now has a capacity of about 700 tons
of rock per day. In this mill it was
| found possible to concentrate from
| 30 to % tons of rock into one ton of
concentrates, the latter averaging
from &c TO 80 per cent copper and
carrying some Sc to 81 gold and sill
| yer per ton.
Attracted by the results obtained
in, hi nrit tn1
| helm interests, so-called, later ac-
quired a large interest in this COM
| pany, mainly through the purchase
of the convertible bonds above re-
| ferred to, and having taken charge
have erected-and now have in large
part in operation-a new concentrate
| ing mill at Garfield, Utah. This new
mill has a capacity of handling about
G 900 tons of rock per day. OF the
II sections in this new mill there
| are seven 1T present in operation and
they are handling, together with the
remodeled experimental mill, about
200 tons of rock per day at the
present time. Within possibly three
months the entire mill should be in
operation With the entire plant op-
Grating the product of this company
should be in the neighborhood of 55,-
100000 pounds 81 copper per annum.
Nothing could betted indicate the
vast proportions of this enterprise
than the fact that in building the
5000 ton concentrator at Garfield,
| Utah, provision was made in its con-
struction for an addition of like ca
pacity. Sdch a huge development is,
of course, something of a more or
less distant future. The water sup
ply for the concentration is supplied
by the Garfield Water company,
which corporation is owned by the
American Smelling 4 Refining COM
pany, the Utah Copper company and
the Boston Consolidated Mining COM
pany, and which has secured control
of, and arranged for the delivery of
some II. 900 gallons of water per
minute from various sources of sup
| ply within a radius of 2 miles. The
| Utah Copper company also has an in
terest in the Garfield improvement
company, which built and now has
under operation the town of Gar
| field
We had this property examined by
an engineer and published his report
in December, 1905. AT that time he
estimated very low cost of produc-
In the annual report of the Utah Cop.
per company of January %, 1907, the
following statement is made:
THE management has reason to
Ipredict the production of copper at a
cost of cents per pound, with the
new plant at Garfield in full opera
ton and the mine equipped to pro-
duce the tonnage necessary, in ac-
cordance with the plans of mine op-
erations as at present outlined"
Already costs of production, with
this plant operating only in part,
have been reduced to 8 cents or a
shade under. Because of the method
OF mining these ores, which is by eX-l
cavation from an open cut, there are
yarions physical reasons why the best
results should not be obtained in the
saving of copper or in the cost Of pro-
duction per pound for some little time
to come. We regard the ability of
the company to produce at cents at
the present time as extremely salts
factory ard indicating its complete
success in producing at as low cost
as s cents per pound, as time goes by.
Assuming a cost of 8 cents per
pound: On the full product of the
company each cent per pound of profit
is equal to SO " cents per share on
the total capitalization of this COM
pany-that is to say, on 100000
shares. a price of - cents per
pound for copper, therefore, would