The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-12-03
Engineer Charming Estimates
the Ores as Three Hundred
Thousand Tons.
REPORT Is GREAT
SHOCK To STOCK
Property in Worse Shape Than
the Public Had Reason
TO Expect.

The secret OF tho weakness of tho Utah
Consolidated stock on the eastern mar
kets during the past two weeks was re-
leased Friday by the company when the
report on the mine made by Consulting
Engineer Claiming was given TO stock
holders. over the Pollock wires late yes
tcrday came the Information that this re-
port showed there were 100000 tons OF
orc now developed. Such an estimate
came as a severe shock 10 Utah circles.
and IL is little wonder that the Issue has
lost many points lately.
The wire above mentioned was as FOL
lows
I'VE believe the following is correct re-
garding the position OF your property:
Ore in sight averaging G.32 per cent cop
per; 0.0j ounces gold. and 0.S5 ounces
silver. 800, 600 tons, From large tonnage
OF ore shown by mine maps and records
to exist and which Is accessible for in
spccuon, there may be recovered from
100000 TO 100000 tons. Other ore in the
mine is OF too low a grade for profitable
extraction at present price OF copper. To
regain the position. HOur company held
during The years 1903 to 1907. IL VIII be
necessary 10 develop orc Of higher grade
than that mined the last Two years. MIR
ChanuinS and Mr.. Burger believe the
highest grade ore will be found in the
uncNDloTrd territory.
The west believes this estimate Is too
low, bu; that il VIII pave tho way for
future encouragement az the development
work in new ground and at now depth
section OF the mine that has not been
developed. and 10 This many western
stockholders look with confidence.
From what has been available about
tho Utah Consolidated property. the west
believed the trouble was not so much
the lack Of what is termed orc reserves.
but the value Of the same, II was estl
mated in 1907, for instance. that the de-
NHlnnnI n
and the report made the first Of this
year by Engineer J, w. Finch gave J.,
l2l,@sO tons OF 2.3 per cent copper ore
That the officials OF the company had no
inkiin= OF tho disappointing conditions
now revealed Is taken for granted from
the statement issued hy President
Broushton not many months ago. in
which he used the following language:
There is no lack OF ore In the mine
OF approximately the same grade Gas far
as can be ascertained) ms that treated in
1908. which ore. under the new smelling
contract. win copper at the same price
VIII return between $500. 900 and 500. 900
per year additional earnings"
Many are wondering TO what extent
the installation Of the International
smelling plant al Tooelc VIII be consid-
cred mistake. Tho smcltcr was built
primarily as all reports had 4, at the
time, TO compete with The American
tho belief that the Utah Consolidated
company would he its best customer.
The smeiter war. about which the coun-
try WAS much exercised a few months
nGo. is now fully submerged IN the cop
per merger programme. and the copper
tonnage OF the Utah mines is well within
the grasp OF the American Smelling com
pany. Conditions have given new impe-
tus 10 the report that the GirouX ores
VIII be brought 10 lhe Tooec smcltcr.
and that the recent protest filed by the
GlrouN company with the Interstate Com
merce commission against freight rates
the Nevada Northern company being one
of the companies complained OF. was tho
first step TO bring abou, the transporta-
ton OF the GirouX ores 10 this state.