The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-12-10
ABOUT UTAH CON- s
BIG ORE SKIMP
Eastern Comment on Fall in
Reserves From 100000 to
100000 Tons.

Dismal indeed are che disclosures
made hy che recently issued statement
Of President Hrorghton ~ the Utah
Consoiidatco. showing minimum ore re-
serves of 100000 tons and maximum
reserves OF GOD. 900 toms. which latter
sure includes 100000 tons Of what Alr.
bruHEutou terms probable ORE These
aiE ores compare Win estimates OF IT,
A@l-~sp tons hy Engineer j. w Eiuch-
whose report Was Incorporated as
statement and 1.13s.f1o toms. the esti-
mate ~ recent General Manager j. D.
l,lFQuo.
The unexpected and unprecedented
frgukuess ~ President Eruu-htou iu
setting forth So completely fH- proper
~ conditions. uotwtthst uudins thc an
nunl report o. not que for some months.
De- Go De- cuu-f1eu ied. painful as are tlo
rcrcia lions. THE pity OF 10 is chat zine
fu1nuE. uicut dii not months and ycars
AGO tniSe the stncknolders into tneir
confidence and state to tre real own
trH ottcucr than once a. rr1r the fiuau-
tlll and phyHictl condition OF the prop
Fcr years This official information
has been denied. hut Tho policy 90 pub
hcstl ln corporation un1uaEcme1t is be
n.lE more popular. ANA although
coming at very late day. the owners
Nt ltHn Consolidated have little
romcthing to 1c grHtrfuI FOR that the
disclosed was NOT held back as usual
Tor incorporation in the annual re-
Nc So very evident chat in the case
~ Utah Consolidated fhe doctors dis
agreed and DO is Furthermore very ap-
parent from President B-ougnton's
statement that Aessrs. Finch and
Itisrue were ignorant or negligent in
thc very cNt~uFHEtut estimates Of ore
over their names. There is On heap OF
difference between ore reserves of L.
100000 tons and ore reserves OF 100000
The question which vitality interests
snare holders fnNHE Ia what ie the net
value LEFT iu the ore reserves now or
chances of rindinE additional ore bodies
under Vigorous prosecution Of devel-
Upmcut work
It would seem to Do liberal est-
mate to place the present reserves at|
a''N'N toms oEFraEinE ESQ per cent
copper rorty-siN pounds 5-ro0ths or
onIy 81 Ton.
lr these 100000 tons it is doubtful
m tncro is q net profit OF over S1 n
ton. ur 100000 equal. say. To- $40 per
share ror T-fHr'a 100000 shares. Tu tnIs
estimate we have figured copper at D.
cents per pound gold ut $50 per ounce
and silver az 80 cents per ounce.
Tho encouraging part OF President
HfnMHntn report o. tHat wherein DO is
stated that both Mr. Claiming and Mr..
vigorously the figures OF MeEsrs Finch
and Itirnuc. believe that higher grade
ore WIN De found Dob the uneNpiorcd
ft should NOT Do forgotten In araIyz-
IU- IHU company present status. that
ln lte treasury are 5000 shares of Inter-
ua firnaI SmeItinE Refining stock.
which. Ht the present market price. are
worth fHIa."NN ana upon which Itan
Conso,idated D. at preesent receivinE an
annual income OF 100000.
Ine eNtremities Of the mines's UNDER
ground situation naturally raise The
question ar fu what effect this viii
CD N
rne. ting a. Refining CnmugnE. which
N.H recently completed af TuuoIe. four
uilcs AMal. n ss.'NN.lNN smclter, erected
liiul filf fnr che Treatment of Utah
Consolidated ores. The only ores thus
TAR contracted Cor hy the international
Smelling a. Refining company are those
~ tnc Utah Cousulid ated and the south
Utah company. formerly known as the
NeWnuuse Mines A. Smelter company. 10
ls. or course. very evident that the Too
eie plant can hardly show the interest
ON ITS cost from Che very limited tom
mage of ore and concentrates Co De sup
piled hy these two companies and with
the competition of the nearby Garfield
Hmclter. DO iE NOT clear how the Inter
national smelling a. Refining company
ls % derive any large earnings in the
near future from JOS Utah investment
The disappointment of Utah CONSOLE
dated. however. and the failure Of any
large net earnings 90 De derived from
the Tooele plant. viii In no wise reduce
the present earnings OF the 1nterna-
NuuaI smelling company. FOR we under
stand 10 is earning between twelve and
ftfteru per cent on its s1o.000.00o capt.
TAI from the net profits Of the Rarifau
refinery which the company took over
from the United Metals Selling COM
Tie extreme liquidation in Utah Con-
E0li1afed shares during the past week
started before President Broughton IS
sued bis statement but there is nothing
% indicate that the MANAGEMENT On the
slightest degree fook any market adj
vantage Of their fellow shareholders-
H|.H.