The Ogden standard. [volume] (Ogden City, Utah) 1902-1910, 1909-02-25
MINING NEWS

The Boston Consolidated Copper and
Gold Mining company stockholders
held their annual meeting in London
last Friday. according to Boston News
Bureau, which says: Stockholders
will be asked to authorize an issue Of
$4,000 shares of stock to be offered
shareholders at pounds SIS a share
equal to S1125 per share. This issue
will make the outstanding shares 775.-
600, allowing for the conversion Of the
last Issue of S1,25O,0 bonds into
stock at pounds The new issue Of
stock is underwritten by syndicate,
one-half in this country and one-half
abroad Delay in getting its mill in
commission and troubles at the mine
end where it became necessary tenn
porarily to abandon the steam shovels
and open the mine through tunnels,
prevented the property from going
upon a profitable basis, and created
small floating debt In addition to
the Indebtedness resulting from the
drop In the price Of copper The COM
pany's financial condition has also
been affected by the negotiations for
the readjustmcnt of It's contract with
the American Smelling and Refining
company. This resulted in an accumu-
lation and storage Of its product. The
company is now producing copper at
the rate of between 100000 and l.
100000 pounds per month and at
profit though admittedly small at
present with an incompleted mill and
restricted operations
That the Tintic district, great as Ii
is, contains the means yet to be even
greater and better as time draws on,
: is the opinion of j w Cawley and as
sociates, who have just returned from
a visit TO this district Mr. Cawley Is
a prominent eastern mining man, be-
ing secretary of the Amalgamated Ne.
vada Mining and Power company op-
Grating in the Black Horse district.
General Manager Charles Taylor of
the the Chafey Consolidated Leasing
company received word from the sup
erintendent Of the lease In Barber
canyon on Tuesday to the effect that
the drift had again broken into the
rich ore body encountered in the shaft
ON the way down There Is whole
face of this orc. of five feet in width,
and Mr.. Taylor states that II will not
average much below 800 per ton.
While the officials of the Uncle Sam
Consolidated company have not regret
ted the generous and unusual values
OF gold in the ore body now being
drifted on, the ore recently found and
for which drift on the level below
the discovery level Is now being driy-
en-, they have desired greater lead con-
tents. 1t has been the experience in
Tintic that gold values, while large in
some cases. have not been as persis.
tent and extensive as the lead-silver
ores.
G. w. Watts the well known Salt
Lake mining operator, left on Tuesday
for the east with about as fine a look
ing set of ore samples as any man
ever took to dazzle eastern eyes. Mr.
Watts and associates have tied I'D
group OF three claims In Nevada To-
Gated within six miles of the Lodi
mining district. which is about sixty
miles south Of Austin. The group is
not stranger to the ore markets. for
two shipments already have been
made. Ono OF these shipments netted
the owners $3.50 per ton, while the Sec
ond netted better than 5000 a ton in
gold and silver
The annual report of the Boston