Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-02-15
DAILY JUDGE
REPORT IS ISSUED
Receipts from All Sources Last
Year More Than Hall Mil
lion Dollars.
STATEMENT OF MANAGER.
Costs of Operation Mentioncd--Ncw
Electric IIauIage System
Installed.

The annual report OF the Daily Judge
Mining company covering the opera
lions OF that corporation during the
year 1907, was released today and the
exhibit shows the receipts from al
sources TO have been $5O4l75. with the
total expenditures footing up up $685.
55s31 In this connection it may be
stated that at the beginning of the year
there was a cash balance on hand
amounting to $685. 3S.37; which, after
making the foregoing additions and de-
ductlons. left a balance in the treasury
on Dec. 81 Of s12765526.
The company received from the sale
OF ores, 1892, 1904, which sum is made
up from the following items: Concern
trato sales, $3.50 slS.16; crude ore, $l54,-
27S.32; iron middllngs, S4S,149.S0; zinc
middlings, S549.36. The Grasselli Chem
tcal company, with whom the company
has contracted a large tonnage of zinc
middlings made an advance OF $3.50
and there was received for Interest ac-
count. $685.. The heaviest item of eX-
pense was for labor and salaries
amounting TO SIG, 3g1.s7.
The total cost of mining, milling and
marketing 1914 tons of ore Is figured
at A.S1 per ton, or a total Of 1914, 1899.
In his statement, General Manager
G. w. Lambourne says
''The operation of the properties of
your company during the past year has
not turned out to be as profita BILE as we
had hoped for, but l am glad to say
that this has not been through the lack
of effort on the part of those entrusted
with the company's affairs or the hand
ing OF the mine and MILL On account
of the unusual volume of surface water
that commenced to bother early In the
summer we were compelled TO abandon
work and extraction OF ore On the 1900
foot level for a period covering nearly
four months. This, as we'll as the fall
Ing of in the production of shipping ore
ana a failure TO find market for our
zinc ore. decided your directors, at a
meeting in June, to SUSPEND the pay
ment OF dividends and hold a substan-
tai reserve in the treasury for gen
erai prospecting an exploratory work
Dividends Nos. 1 and 2 called for the
disbursement of 1924, $780,"
MI Lslmbourne, IN referring tn the
matter OF listing the stock of the COM
pahy on the eastern exchanges. as had
been previously planned, states that
practically all the necessary steps had
peen taken when the late slump came
on ana thereupon the directors deemed
" 81 vi with the DIODO-
sition pending more favorable action.
me zinc plant being erected by the
GrasselIi company is nearing compile
tion, and VIII probably be placed In
commission next month and viii start
on handling about so tons a day. The
DAILY Judge company, Mr.. Lambourne
says, has on hand $1,000 tons of zinc
middlings from the mill awaiting treat
ment.
An electric haulage system was in
stalled during the year and only re-
centiV went into commission which will
enable much more economical the ham
ding of ore In the future.
Soon after the first big drop in the
price OF metals" the report relates. .'by
the concerted action of the mine opera
tors OF the camp, a uniform wage scale
Tor all the mines was agreed upon, and
the merchants and others were asked
FOR reduction in the prices of sun
plies, ETC., in hopes that that the mines
could he operated at reasonable prof
IL, but further drop in price of metals
compelled us to cut production to a
minimum. and all are holding back un-
III prices advance TO satisfactory
level. A reduced force is being kept
on development and exploratory work
and the blocking out of ore bodies,
In order TO take advantage of a change
for the better when the proper time
arrives"