The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-03-21
COLUMBUS CON.
HAS THE MONEY
No Assessments Will Be Levied
Mine Conditions Are
Fully Explained.

All fear that the Columbus Consolidated
would levy an assessment or 20c share
or more was dispelled yesterday when
President Tony jacobson, after the direc-
tors meeting. announced that arrange
ments for money sufficient to see the
company through the next six months, II
necessary, without shipping a pound OF
ore, had been made The annual state
ment submitted at the first of the year
showed a deficit of nearly $1,000, though
four dividends, aggregating S2l2, 6235o were
paid. No statement as to the actual IN
debtedness yesterday was made, Dut, as
the company has been employing only a
small force since the first of the year,
it is probably not more than $lo,WO or
$4,000 now. All the time that develop
ment progresses on the 400 level, the only
place that work Is now being done, FIRST
class ore will be poured into the pms
daily and, when the price of the metals
justify it, the shipment of 800 or 900 tons
will wipe out an Indebtedness OF SJO,eV0,
or such a matter, in quick order. In otheI
words, while the company has no present
intention of marketing ore or running ITS
mill. there is no question but that the
mine will make up the deficit that mas
been and may be created during the next
few months without bOthering the snare
holders.
AS to the work in hand at the present
time and the general condition of the mine,
Manager
kinds of ore in the levels between the
tunnel and the 400, but as the latter is all
in new ground and as the work being
done there is of the utmost Importance,
every bit of work during the period that
shipments are withheld will be cOncen-
trated on the 400 level. Three drifts and
an upraise are now being operated and
the force consists of thirty-five men. AL
the point where the raise was started a
few days ago, it has been demonstrated
that the ore made fiat Two samples were
taken from the ore developed in this raise
One shows 6.3 per cent copper, per cent
lead, 756 ounces silver and Sl.2Y in gold
the other went 190 per cent copper. %. Z
per cent lead As ounces silver and soc in
gold per ton. There is only about TWO
feet of this ore exposed at the present
time, but there is little doubt but that
il will widen out as development pro-
crosses.
A most important piece of work on this
level is the long drift that is going west
in a wide fissure to get under what IS
known as No. 3 shaft from the Rowland
tunnel, where a tremendous body OF fine
sulphide ore has been opened to a depth
of 10 feet below the tunnel level. On the
tunnel level this shoot proved to be over
100 feet long and from five to forty feet
in width The ore was mixed on the tun-
mel level, but at depth of 10 feet it was
all sulphide, carrying an average of Il
per cent copper and from % to 40 ounces
silver per ton. When the vein was opened
shaft, it was found so soft that it could
not be held. 1t ran out into the drift like
wet concentrated material and the ground
around it so settled that it was impossi-
BILE to work through the shaft.
The west drift the 400 level, which is
designed to tap this ore body at an ad-
ditional depth of 300 feet by running be-
tween so and 800 feet is now out over 5Ot
feet, so there IS now between 300 and 400
feet to run to make connections. There
is a contact intervening between the pres
ent face of this drift and the ore body
mentioned that may be cut at any time
and in which there is likely to be encoun-
tered large body OF at least fine mill
ing grade of ore But, without figuring on
that, it is confidently expected to reach
( the objective point within the next sixty
days. or such a matter, and add tens of
| thousands of tons of fine shipping ore to
the mines reserves
In the meantime, should market condi-
tiOns warrant it and the directors so de-
termine, the mine is ready to resume ship
ments and the running of its mill at any
time. This in brief. is the condition that
exists at the Columbus Consolidated al
the present time. and il is good one if
anybody should ask YOU.