The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-09-11
FULL TEXT OF
G|ROUX REPORT
West So Far Has Received Only
Partial Statement Of
Company.
REPORT GOES INTO
INTERESTING DETAIL
Financial Status of Company
Such That Work Planned
Can Be Finished.

The first Of last week the directors oI
the GirouX Consolidated company author
ized a statement for stockholders In re-
gard to company affairs, an extract ci
which was sent west over the wires. the
extract purporting to be the complete
statement Its brevity occasioned con-
siderable criticism, and western stock
holders will welcome the complete report
that has now reached the west through
the mail. The report follows;
when tho GirouX properties were
taken over by the present management
in 1909, comprehensive plan of oper-
ations was determined upon. with the
idea OF thoroughly and Systematically
developing the properties with all posi-
BILE speed. There has been no change
In this plan. which has been vigorously
prosecuted ever since, A great deal or
churn drilling has been done, with the
idea OF showing UP ore bodies heretofore
unknown. The outcome OF this drilling
to date has been very successful and the
reserves Of concentrating ores have been
largely increased.
THE directors decided that the most
sulphlde ores In the Alpha territory and
to concentrate the energies Of the COM
pany mainly TO getting ready for mining
operations at that point first The
old shaft in the Alpha lode, bottomed In
quate. and 1t was necessary TO sink
new shaft in the limestone formation.
about 500 feet distant. The new GlrouX
shaft. full description OF which is given
in the last annual report OF the COM
pany, Is now completed to the 12o0-foot
level and sinking Is progressing TO the
1400-foot level. The directors found that
TO get ready for mining operations on a
large scale. and to determine the char
acter OF the smelling ores at the earli-
est date possible. 1t was necessary to
have this shaft and attack the rich AL
pha ground first
.'The steel structural material for the
shaft house and boiler and engine houses
is now being put In place. The hoist
ing engines. pumps and all necessary
equipment are on the ground being In
ished. drifting will be commenced on the
1900 foot level OF the GirouX shaft to
reach the rich ores in the Alpha ground:
and. as soon as The shaft is completed
started on that level to reach the same
ground. The rapidty with which this
new shaft work has been done has set
a new pace in the mining world, and the
largest and hest, If not the largest and
hest. in the country. The work has SO
far progressed that the directors expect
the drift from the l200-foot level VIII
reach the high-Srade Alpha ores by the
middle of December or by the first OF
the new year.
"In addition 10 all said. churn drilling
and shaft work, the energy Of the man
agement has been directed TO ascertain
ing the exact character of the direct
smelling ores in the properties. so as 10
determine the best type OF smclter to
bs constructed The directors have de-
cidcd that the company's smclter will be
erected at or near the mines at Kim |
berly
THE company has ample funds in lis
treasury TO enable the management 10
put the mines in the condition originally |
planned. ready for operations on a large |
scale, and the affairs OF the company
IN general are highly satisfactory to the |
directors. No treasury or other stock |
has been. or Will be. disposed OF by or
10 assist. the company In carrying on it's
operations. Everything has been. and
VIII be. done 10 open and equip the |
mines for economical administration and |
for mining on a large scale as soon as
possible consistent with sound business |
and the best approved min
ing methods.
"The directors have great faith in the |
future OF the Giroux. and intend to push |
vigorously the development of the prop
critics along the lines as originally de-
Iermined.'