Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-04-17
stockholders Voted Unanimously
To Retain the Retiring B ard
OF Directors.
NEARLY 100000 ON HAND.
Remarkable Dividend Rccord--Man-
agcr Webber Talks About
Mine Conditions.

Tho annual meeting OF the share
holders OF tho Nevada HILLS Mining
company was held today and resulted
in the election of the retiring board
OF directors which consists of Wind
cor v. Rice, w. II. Clark. James Far
rell, John T. Hodson and John A. Kir-
by of Salt Lake; w. II. Webber, of
Fairview, Nevada, and j. r Davis Of
Goldfield Nevada The new board will
probably meet In a few days for or
ganization, and there Is no doubt that
81 will be tho same as last year.
Owing to the unavoidable absence of
Secretary and Treasurer w. III. Clark
IN Goldheld. no report was received
from that official but 1t WIN be given
on. later and mailed TO shareholders.
President Rice, however stated that
the company Is in n good financial con-
dttion at the present time, the casn
balance on hand being S5e,63O2s. Eie
also stated that n total OF 4,4bO tons
of ore were shipped last year and that
the average gold content was 1852
ounces and the average silver content
143524 ounces per ton.
Manager Weber made an interesting
verbal report of conditions at the mine
and explained that the recent strike
made on the 400-foot level Is undoubt-
edy the most important one that has
yet been his pleasure to make known
10 his associates. ""rhe strike was
made" he said, east of the fault in
what Is undoubtedly an absolutely new
and independent vein. This vein was
first cut on the 150-foot level, and
found to carry four feet of ore. with
only one wall exposed. We started
drift on the 400 level to get out ui-
der the ore shown above and struck 1t
90 feet nearer the shaft than ] ex-
pected we should do. The ore beats
anything / ever saw in the mine and Is
much different I'm character than t1at
developed in the older portion OF the
mine, to the west. 1t is heavily SUI.
phide and the values run up to $500
a ton and better, with two-thirds IN
gold and one-t third silver. This Is pre-
cisely the opposite of the way the ore
runs In the old workings, where practi-
calIy two-thirds Of the values are III
silver, and one-third gold.
This discovery puts q new race on
the Nevada Hills as mining PROPOSE
ton. and it will necessitate our walt
ing upon development before deciding
on the kind of mill we shall puiio-
i am sure the ore from this new ledge
is going TO average better than SlVo
ION, but how much better i would not
care to predict at this stage OF uevei-
opment. This discovery has peeu
made at substantial debt, you VIII
note, and II lool,s as though there
was going to be a very large body or
shoot of IT, We are marketing some
ore all the tine. but no attempt has
been made to crowd production since
the drop In the price of silver. j
could take out big dividends as 1t is,
and will do so whenever the directors
consider the best interests of the
justify cutting loose
again"
There was some discussion of the
plans of the company in the future
In a general way, but nothing definite
decided 1t was the consensus OF
opinion. however, that Manager Web
Der had the right idea and that the
proper course to take is to develop
the latest find further before deter
mining just what kind OF mill equip
lnent Is needed.
The mine contains very large ton
mage of carbonate ores on the west
side OF the fault and the directors
some time ago determined through a
series of tests what processes should
be employed to obtain the best extrac-
ton; but the appearance OF sulphides
in the lower workings places an entire-
ly different phase on the mill situation.
Before making any move towards con-
BtI1lctiun IT Us now In order to as
certain what processes are best appll-
able to recover the values contained
in the sulphdes.
The Nevada Hills Is one of the re-
markable mines of Nevada, and al
though scarcely more than year old
has disbursed five dividends of S74.-
b433O each or n total of S312.7lb so,