The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-07-13
MASON VALLEY IS
DEVELOPED MINE
Nothing Wrong at Property to
Justify Present Drop in
the Stock.
EXTRACTS FROM A
REPORT MADE In 1903
Splendid Condition Then Has
Been Bctfered by the Re-
cent Disclosures.

Western circles do not believe there
is anything wrong with the Mason
Valley property, nor do they feel that
the present conditions existing in the
minc justify the drop in the stock that
has taken place during the past few
weeks. The west was a cheerful buyer
Of the stock all the way to 50 per
share. and they still retain their good
estimate OF the future possibilities OF
tho proposition A prominent stock
holder few days ago sent to one of
the strongest and best known brokerage
firms of New York for an expression
OF opinion of this property, knowing
that tho company late last year had It's
own engineer make an Independent eN-
animation and report on the property
reply to his inquiry was received
yesterday, and there are items in the
reply which Will interest each and every
stockholder of the company, for moth
ing more confrmatory of the western
good opinion Of the Mason Valley could
be asked for. IL should be remem-
bcred, however, that this report was
made before the management had sent
the lower or No. 4 tunnel to the ore
bodies, which tunnel work since has
demonstrated the continuity or the ores.
SO If the mine contained what 1t did at
the time time this report was made, or late
in 1908, it now certainly holds re-
sources and possibilities of far greater
value and Importance.
This property says the report,
(which has been vigorously developed
for the past three years has passed out
Of the prospect stage and now may be
classed as mine, as it has large
tonnage OF high-gradc ore blocked out
for mining. and development work daily
is augmcnting the reserves. This mine
holds the distinction of being one Of
the two properties in this section which
did not shut down during the financial
panic OF 1907 The Mason Valley prop
erty is situated on the eastern slope of
Il range of mountains, with general
north and south trend lying TO the
westward of the Walker river. The ore
bodies occur in the limestone, The min
erals consist mainly Of pyrite, chalco-
cite, chalcopyrite and cupritc, also car
Donates in the upper workings. De
velopmcnt, which has been in progress
for the past three years, has disclosed
two ore bodies, the west vein, being
composed of high-gTade smelling ore
and a parallel shoot Of lower grade ma
terial
Careful estimates by the company s
engineers at the first of the year place
the probable ore at $4,000 tons, av-
eragiug 4l.9 per cent copper. The
smelter site which consists of 1900
acres. is located two miles west of Wa
buska, on the main line of the South
ern Pacific. 1t is we'll selected as to
prevailing winds, and, rs it is situated
IN section where little farming is done,
no trouble is anticipated from sulphur
fumes. There is an ample water sup
ply, 1t is the intention of the company
TO erect JOO-ton smelter.
Careful computations as 10 the cost
of producing copper, place this figure
between seven and eight cents per
pound. On the assumption of 7.5 cents
per pound. 100000 tons developed as
saying 4l9 per cent copper, and a l3-
cent copper metal market. there would
he approximately So 100000 net value in
the reserves. There are 10000 shares
out Of the million shares capitalization
issued -