The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1908-10-26

been opcncd up In the Consolidated Red
Top lease and in the Murhett
Lease. iease which ,ts cuts the Red Top
has been proven 10 eXtond TO q depth Of
$50 feet below the surface and 100 feet
below the lowest level Of the Red Top.
Jumbo.-The Clermont shaft has been
sunk 10 r. depth OF $50 feet. and Will be
continued to cut the Mohawk ledge on its
dip. y crosscut is being driven from
at 500 feet, and another level will be
started from this shaft at 500 feet to
tap the Mohawk ledge. The vein out
cropping on the Jumbo property can be
and Mohawk shafts, A small amount OF
work only, has been done on the Jumbo
property during the past year:
nation. has been connected with the
January workings, as 1t Is intended TO
work the January ore bodies through
of drifting has been done on the Janu-
ary claim with good results.
Fehruary.-The sixth or $50 level.
Combination, has been extended west TO
the February claim. and q raise started
TO iaterscct an ore. body exposed In the
old February workings.
r,d%tss Leases'NpqTins ,L[sis The the. past eleven
various times on the property, perform
ing In all 1925 feet of underground eX-
Floratory work. These leases were To-
Sdlsu on l!iS outlying ana U0DroESn
parts OF the property, and were for
the most part unsuccessful In developing
pay ore. but the company has profited
by large amount OF exploratory work
at almost no expense.
PROFITS.
Total profits. II months, No
yember l. 1907, to September
5V, l3ue ..a-s-.-.-.....s,..-.. S9oc, 529. 81
CASH BALANCE.
Cash on hand October !, 1905;
E BulIion nonk IN n transit FS4s,Si1,7l 4sSi17I
=. - 2a,9oS.o2
MILL ESTIMATE,
Estimated cost OF
Estimated cost Of t''''''0''''
concentrate treat
ment plant ......, So, 10000
Cost of water sys-
Cost of railroad and ~
equipment ...s 9l,70S.4t - |
Total :. -. $500. 10000 |
Paid on account OF
above to Septem-
bcr 30, 1908 ...... 65l,554.9O |
Balance to be
paid =, ,... S24S, 10
With the profits from tho Combination
mill added TO the present cash on hand |
The new mill and all equipment will be
paid for. and the company will begin
he new year with a cash balance OF
over ssGO.00O.
When the l00-stanp mill is in COM
mission We expect to treat GOO tons daily |
With a mill feed carrying about $50 to
40 per ton, from which We Will extract
~ To % per cent, The mining, develop
nent and transportation cost will be |
about s3 20 per ton, while the milling
,osts should not exceed $2.T5 per ton.
Litigation.
For some time the officers OF the com.
1any believed that the ore found In the
" edge claim TO the east OF the Mohawk !
vas in a vein that had its apex within
errltory OF the Mohawk and Combination
>l&inls, and commenced a suit on Feb
'uary II, 1908, in the United States cir
,uit court for the district OF Nevada,
against the Jumbo Extension Mining
company, the owner OF the Wedge claim, |
settlement was had on July IS last
II all existing or prospective litigation
between the Jumbo Extension company
md this company. By the terms of set
lement the Wedge claim was decided
Iirect to this company; all ore found In |
he Elnegeroue claim Is to be divided
qually between the two companies. and
III ore found In the Poleverde claim OF
ne extension company upon veins apex
ne IN ground owned by this company or
my OF It's constituent companies is to
'e divided equally between the Extension
company and this company.
a side"iine agreement between tbis
onpany and the Combination Fraction
company was signed up shortly after
Yards, by which each Company conf;nee
tsef TO Its vertical side lines BY these
NO agreements any serious apex lltlsa-
ION elther Tor or against this company
aYolded, tor many years Mt least