New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-12-03
UTAH RESERVES LOWER
President Says Estimate of Ore
Is Far Too High.
HOPE IN NEW TERRllOhf
Price Of Shares Indicates Shrink
age of $50, 600 in Value OF
Mark Twain's Estate.

---,s- = P-oughton. president o. I1e
--..L consolidated Mining Company mas
.s,-.s a -e-ort TO the stockholders aoFiSlH5
-, "a. The estimated amount OF ore &C.
7~-,as and in reserve On tie company
,,-,s-zsas must now be placed al not nloie
-ha1 $40 90 tons. which Is equivalent 70 III
80 more than che years normal pro01S>-O-
egaf-sI estimates q year ago OF aNo -
on 600 IONS. but holding out hopes for lle
fr+ure Of the company through the expected
.zssoove-v q higher grade ore IL the uneA-
r,lore6 territory.
= u Finch. q Denver mining eApei /"
President BroughtcE says. was retained Al
February 10 make an independent exam
-,a+.on q tie ore reserves, which ne placed
-o7 aes tons. against NJ Risque's esl-
-,7s-e Of - 30 tons. MI. RisCae was IoF-
--e-iv The conpany's manager. Since then
go oa3 tons. have beer e-5racted- MI Elsque
vss succeeded II charge Of the uline II
Seu-e-n.e- by r 7. Claiming, j.. VITO re
r1-ted on September "A that there vas no1
available for profitable extraction anything
npr-oxi,uattng the tonnage given II the
annual report issued II March
c. c. Burger. another consulting mining
engineer. WIS then engaged 10 examine the
property, and on November 3 SUBMITTED q
report confirming 2T. ChanninE's opinions
T-pon the receipt OF Air. Charming 5 report
2 conference was held. at which were pres
ert Nessrs Rlsque. Finch ChanniiG anu
burger and President B7oughto-l- Ihe Iat-
-e-ss reao-- 10 tie stockholders continues
Our understanding OF Nj RisQue's ex-
-7lsnation CT his estimate s that ne &C
1-eureG. when he assumed charge OF the
nine ire estimated tonnage IN each eiccA
O ground calculated o. ac5oinIi-S iefs-7,
adding thereto ere developed SuDSel 0eLllt
and deCucL1-iS extraction. he Clu not Re
cast these estimates from time 10 Il-.le, nor
except n one ore body, make proper de
auctions for mining losses losses % caFlIlz
or Tor ground Il interior q BLOCKS IoL1d
on exploration % DC "---2Ie o. ~ = = : =
Reports o. -1essrS- -r2ElIll Is 1--Sst-e-
I3-IrEer ans Finch have been placed On lie
From -l-ese ana from additional lITe-S -lSS&-
--r7 -ve believe LiE blowing IS an dccc-
-5-a s-s-F-7-rI REGARDING the present posi-
ton OF YOUR property ore II slgIL aver
aging - per cent copper. Cos ounces
gold o. 8 ounces silver, Sc tons rom
The large tonnage OF ere SHOWN p E----S
maps and records 70 exist tut winch IS =
accessible for Inspection On account o.
caves and tils OF waste t1STe may pc re
covered from lbt93 70 25tefe tons D-heT
ore - tha mine IS Of too low grade LOT
profitable extraction a the present price OF
IN output e profitable Gre is Unite al
present l. aro-I 5& tons DAY ALat
ms = the proper limit s proved % tLe
-a-T -lzt 20 maintain G larger output IRON
January 70 SeD-erbeT :, 1870 cc1slSer-
49, rercea-aE5 Of Improbable ore was
e--.--z.7 - -i-e ---7elre-.
1le,-e-or1-s-7t work is being pushed a. al
POINTS = y-C'1r directors believe In-s feat
IRE Of more Importance al present than TIE
extraction o. ore. and also because ne oul-
--- can 10 increased from TINE 70 time, as
more working faces are exposed
To REGAIN the position your COMPANY nee
c---5r- Tia years 1913 70 1907. il viii he neceS-
ea-v - develop ore q q higher grade than
t-a- mined during TIE last two Years. Both
E--. Charming ard Mr.. Burger believe that
higher grade ore VIII he found II TIE m
explored territory Al the present GAZE tTe
y,z7-e- 777-aerts uron the lowest level % your
nine z-e promising. there beng 80 Ieet q
drifts and raises in ore Averaging IS per
cent COPPER
The Utah Consolidated has S1.5oa 90 CAPT
81 stock. the par value Of the shares being
9 The company paid dividends OF 60 per
cent. OF = a share. il 1905 and 1904; 20 Per
cent IN 1856. 10 per cent il 1915, 40 per
cent in 1907 and 80 per cent in 1905 and 1863
In 1907. the year IN which 10 per cent was
rafd IN dividends. the stock, which is
--aded IN in Boston. touched $7g share n
January and fell To So 80 IN October. the
manic month N 1903 its range was be-
tween so 30 and SO, and in 1893 between
So = and SIS %.
Tho recent schedule Of the estate Of TIE
late Samuel L Clemens contains an item Of
10 shares OF Utah Consolidated. valued a.
sse5 share. OF sS0.937 Gan Investment
probably among these counselled by the
fa-e = = Rogers. who was the fatter-in-
law q President B-oughtOn- The stock sold
yesterday II Boston at $3.50 a share,
which would make the present value Of
Marx Twaius holdings s2i-S75-
II q circular 10 the stockholders in Feb
7JIary President Brougaton called their at
1e--t1n 10 the fact that about one-half CT
ire dividend IN -9GS and 1893 had come out
d the accumulated surplus, which, he said,
rad become so much encroached upon that
re deemed = advisable TO recommend 10
tfe directors a temporary SUSPENSION OF