Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-09-27

| prises approximately 400 acres. and ia
entirely paid for. without bonds or
other obligations except the current ex-
penses,
chief Consolidated has $1,000 shares
outstanding ana i2s,93O shares in the
treasury. Its property was purchased
mostly through the acquisition of Little
Chief ana Eureka city stock. All Of
the Little Chiefs stock has been ac-
CURED and the affairs OF that company
are being wound up while IS per cent
of the Eureka City stock has been ac-
quircd
PLAN OF WORK.
The shaft is bottomed at depth OF
LIS feet and Is In country rock
cross-cuts being driven at intervals OF
zoo feet 70 open up the ore From
each Of these cross-cuts main de-
velopment drift is driven longitudinal
~ IN the ore zone; then at intervals. as
frequently as seems desirable, cross
cuts from this main drift will be ex-
tended across the zone for DEVELOPMENT
purposes The zone has width OF
about 400 feet Il can be readily seen
that as these drifts ave driven and
crosscuts are nVevo4. the Increased
number Of working faces with ore pos
"
development progresses.
The principal development OF ore UP
TO the present time has been at tho
l.foo-ft level, and has been mainly "A
continue lion southwark OF the discov-
cry made there last October. but about
a month ago at point 600 feet north
Of the hrst ore development at, the L.
4O0-ft level new disclosure of ore
was made and "A stope had been opened
thcre rom which small but exceed
in8ly lich production IL being made.
DRIFTING TO SOUTH.
The main drift on the 1.ioO-ft Level
is being pushed steadily southwark foi
the purpose Of opening up the ore chan
mel as already outlined. and IL Is pass
ing through ground that gives every
promise Of affnrding good disclo' ne OF
ore when the crosscuts are ext. naed
across the ore zone
The visit Of President Walter Fitch
OF Chief Consolidated at Houehton
Mich, this week. where he conferred
WIN the directors and local stockhoId-
ers' mas served To present the posslbili-
tles Of that property in a very strong
@ht' ana the following financial state
lnent OF sept. shows the remarkable
results that have been achieved during
the Is months Of development there:
RECEIPTS.
sale Of si9ls5 shares ........... zoos $50
sale OF 1852 tons Of ore ....... ii6.4i7 !
. ,sH.577
For property .........,..........S1 500 |
Equipment and office .......... 26155 |
Mining costs .'......,...,....... 114.35O |
T, ash on hahd ;.''''''...'...,... 31.39S |
issuance receivable .'..,......,... 1854 |
s3H.577
The receipts from orc sale. sI1s.A7.
have been $1,000 In excess of the min
ing costs, and the Importance OF such
an achievement during the first IS
months of Chief Consolidateds devei-
opment Is better appreciated when IL
is understood that a. very large part of
the mining costs went for dead |
work necessary In the mines develop |
ment, such as shaft sinking and cross
cutting, while the minority was I'm the
zone where payable ground was avail
able. say Gay e Sturgis In their weekly
magazine Copper
SHIPPING RESULTS.
The ore shipments. 4.952 tons. Weld
ing SIG Az. shows AN average of S23.50
per ton. The balance on hand and re-
ccivable. S49,252 is ample TO carry on
the operations and pay for the new
equipment now being delivered AT the
property, but In addition thereto the
net earnings from the September ore
shipments are expected to approach
close TO $4,000. which alone will be
enough to pay for the new equipment.
The largest net earnings for any month
heretofore was June, which shows S22
300
In addition to the work at the l. 400
foot level. the ore disclosure made there
last October is being developed by
means Of a suh-levcl at Lays feet: and
another sub-lcvel at 1900 Is following a
.art.. 4. -
Tor the work and which has every in
dication OF leading into the same ore
shoot as that Of the level above. At
tho 600-foot level practically the same
conditions exist AS az 1900, Just de-
scrihed. These four levels are the only
places Of activity In the mine at pres
emit. the tonnage coming from them b.
ing an that the hoisting equipment Is
capa BILE of handling.
The new hosting engine Is now being
unluadcd AT the property and should
Doe ready for service within SO days
This win Immediately multiply the
present hosting capacity four times,
underground may be- expected 20 fol-
low.
WILL ENLARGE SHAFT.
The shaft Is open from the surface
down to the 900 foot lovcl with only
ono hosting compartment, but from
that level to the bottom II has two.
As soon as IL is convenient the shat
VIII hc enlarged throughout to the full
size, providing IL with two hoisting
commandments to surface. and this i'm
prr.omcnt will again double the hoist
ing capacity, making II eight times
greater than AZ present
Tho hoisting engine has two 6-foot
drums and duplex 20X4S-inch cylinders.
The cages will be double deck and cap
oh'e OF lifting two tons OF rock at
load