The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-10-13
Two Million Dollars Second
Mortgage Bonds Are to Fur
ther Operations.
TERMS OF OFFER
TO SHAREHOLDERS
Only Half of Issue VIII Be Of
fcred at the Present
Time.

For the purpose of rounding out its
tonnage for big production and for com
pletine the equipment OF The property
the Bradcn Copper Mines company has
authorized a s., 900, 900 second collateral
| trust mortgage per cent bond issue
convertible Within five years. and an In
crease in the capitalization OF the COM
pany from slo,000,oO0 10 Sl2 900. 900 for
the purpose OF conversion, Stockholders
VIII be offered tho now bonds at par
Sl,0oo,ooO 10 he issued at once Forty
per cent OF the purchase is payable De-
ccmber /, 1910: 10 per cent on February
|, !oll, and 20 per cent on April /. 1911.
In view OF the interest JTtahns have
IN this proposition it Is timely To state
that The company capital stock is SIS 600.
900. and there are outstanding $4,000, 600
IN IN ten year per cent convertible gold
bonds. The company owns about 1900
acres on the western slope OF the Andes
range I'm the province OF O'HigGins.
ChLe. South America. In a statement
zation by otto Julius McrkeI company
Of New York. the interesting remark
Is made that Chilean labor has been
found 10 bc more efficient dollar for
states. The company has its own rail-
road, conccntrator and smeltcr the last
two being I'm process OF construction.
The following details of the mine are
given:
The orc deposi, lies along tho peri
phcry OF an extinct volcano. some $4,000
feet In length. The naturalization oc-
ours most strongly in shattered and hrec-
clated diorite close to the contact OF the
diorite and volcanic tuff, Of which the
core OF the crater is composed. Recent
development work carried on Mt great
! depth and disclosing the presence Of Il
well defined ore deposit Of excellent
grade. has given assurance that the ore
is essentially primary in nature and that
the values arc not caused by a process
OF secondary enrichment as is the case
In the large disseminated orc bodies re-
Gently developed I'm the United States.
The Significance Of this fact, as pointing
10 great depth can hardly be overcsti-
mated. The width OF the orc body so
far developed varies, from % to zoo
crater is over $4,000 feet, the present de-
velopment work has been confined to
less than one-scventh Of this distance.
although the outcroppngs at different
points on the surface indicate the pres
ence Of naturalization throughout the en-
tire length
TWO separate orc bodies have been eX-
posed. the Fortuna and the Teniente.
The Fortuna Is chiefly developed by tun-
nels Nos. . and s. which arc vertically
30 feet apart. Mr.. Ycatman estimated
on his recent visit that the orc devel-
opcd by these two tunnels amounted to
1000 600 tons averaging over 30 per
cent copper In grade In this estimate,
no account was taken or any ore al a
greater depth than los feet below the
| No. Fortuna tunnel No Fortuna
tunnel is located al a depth Of $50 feet
below No. g, and has penetrated over
| seventy feet Of the ore, Of the same
average grade as that developed In the
upper workings No. . Fortuna tunnel.
| located vertically 230 feet below No. 4.
has Just been started and il is expected
to make this the main working tunnel,
| through which all Of The ore Will be ham
| died
"Thc Tcnienie mine adjoins the For
| tuna and the main development OF this
Tenicnte tunnel, which has about the
same elevation as the No. 4 Fortuna
| II is expected that this tunnel VIII cut
! the Tcnientc ore body within the next
| few months. The work on the upper
levels OF the Tencnte has not been so
| extensive, but the development that has
been done together with the results OF
old mining work, point strongly to the
! existence OF a very large deposit, The
| presence of a porphyry intrusion is no
doubt responsible for the greatly en-
| riched character of the ore at this point,
as demonstrated in the old workings,
AS previously mentioned, no account has
! been taken OF any orc beyond that &c
| yeloped bv Fortuna tunnels Nos. and :.
Bearing in mind. however, the char
| acter OF the ore in the upper workings
OF the Tenente and Fortuna, and the
| demonstrated presence OF an ore body
! at least seventy to eighty feet In thick
ness at point seven TO eight hundred
! fee, below the surface, il Is obvious
| that the prospects for developing orc
many times greater than the present re-
serves arc favorable