The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-10-06
SOUTH UTAH; 5000
STOCKHOLDERS
Many Eyes on New Manage
ment-Company Strongly
Financed.

Three thousand shareholders are
found on the stock lodged of the South
Utah mine company. formerly the New
house, in Beaver county, all of whom
are more or less anXiOusly watching for
results from the new management.
Present Production.
The mine is now producing upwards
or 100 tons Of concentrates daily, which
is being shipped to the International
smelter at TOoele. The low grade ores
give per cent copper, with concen
trates into l. with sacing of nearly
of 1sA per cent copper was taken from
this property. 1t is estimated there are
100000 tons of per cent ore in sight.
The cost of runs about 10 cents a pound
for producing the copper
The following opinions on this big
Utah proposition are Of interest:
Eastern Opinions.
The South Utah Mines & Shelters.
whica was formed to take over the
NewhOuse Mines & Smelters( will hold
its first annual meeting in Augusta,
Ne. October IL. Operations which We're
started early in September are being
carried on under more suspicious cir
cumstances than heretofore, says the
News Bureau.
The company formerly shipped the
concentrates TO the American Smelt-
ing a. Refining company. while the re-
fined product was marketed by the
United Metals Selling company. The
present management has made i've
year contract with the lnleTndtlOndl
Smelling & Refining company 10 treat
the concentrates at terms much more
advantageous. Ellis p. Earle, prest-
dent OF the Nipissing Miles company
will hereafter market the South Utas
output.
Big Initial Assessment.
The reorganization plan called for
an assessment OF 81 per share or
100000 OF which aboupt 100000
cleaned up the debts of the old COM
The property had been IDLE for
more than a year, during which time
development work was carried on and
the mill practically rebuilt. entaillng
an expenditure of approximately SlO,-
600. This leaves the South Utah
company with a treasury balance Of
II is the plan of the management to
ship between $4,000 and 10000 tons OF
ore a month, producing 100 tons OF
concentrates per day.
Workings and Ores.
The mine has single working shaft
which bottoms at The 60O-fOOt level.
From a drift at this level an under
ground shaft was sunk and from the
700-fOOt level crOsscuts We're driven IN,
one of which some 1 per cent and per
cent ore wos encountered. The extent
of new ore body has not yet been de
termined, but the theory has been ad-
Vanced that 1t may prove 10 be another
high grade Tense such as was encoun-
tered by the former company.
1t is too early TO estimate what the
South Utah company viii do.
should Make Money.
The Boston Commercial Bulletin
says:
South Utah is in good financial con-
ditiOn, having a treasury balance or
| approximately 100000. has Just con-
! Guided a satisfactory contract with the
International Smelling x Refining COM
pany for the treatment of its concen-
| trates and should be in a position TO
make some money when copper is sell
| ing at a fair price. Precisely what the
cOmpany's earning possibilities are on
a given copper market IL is difficult
TO say, but il is not open TO doubt that
| its prospects are very much more en-
/ cOura ging from the point OF view OF
/ the stockholders looking for some re-
/ turn on his investment, than were
/ those of the old NewhOuse Mines a
SHELTERS. which the present company
| succeeded.