The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-10-26
ANNUAL REPORT
Of LOST PACKER
Statement of Fiscal Year Is Is-
sued Showing What Has
Been Achieved.
YEAR SPENT DOING
DEVELOPMENT WORK
Company Awaiting More Ideal
Copper Market and a Pos
sible Railroad.

Stockholders Of the Lost Packer Mining
company are in receipt OF the annual re-
port for tho season Of 1910 the annual
meeting of the company having been held
on October 10. On October 3, 1909, the
company had j bank balance Of Sill,
9o"75. Since then $4,000 was borrowed
SlI5 was received from insurance reha te
refunded excess freight. $l5I.75; refund
lost matte, s41.a4, and s79.07, making to-
tai receipts. $29,350.61: disbursements,
S23. 676.s3, leaving bnlnnce OF S5774SS,
The rerort shows that the past year
has beer devoted to development work,
70 doing assessment work. the company
t%enty-four unpaterted claims, and 10
the gcnsElI up-keep Of The surface equip
grand total of 224o feet Of work was ac
con,piished. this consisting OF 1922 feet
OF drifts. 80 feet Of raises and 1877 feet
was s5.l6.. After reciting the work on
the various levels In detail, the report
sayS; avs, 49,,
class scllaaEs ore; having a gross value OF s255.-
90 besides $4,000 tons OF low grade
silicious ore. estimated value $40 per ton
or o., sise, 600 Az the slopes from which ore
mas been mined for smelling are filed
With silicious material from the vein, In
inhny places the I'LL shows good gold
sapy,nr arSSs mat ux owing to the expense OF
smeited. There Is no way of arriving at
IN actual estimate Of this tonnage, but
II Is considerable.
pany has large iron ahd E:ne AUX re-
serve IN the sEepc OF large quarry
On The CheroSee sSoup. ore on the Deer
ing solid face of iron sulphides carry
ing some gold and copper.
During the period covered by the fall
building Of a railroad along the route OF
the Salmon river We're much In evidence.
rhis seemingly tangible evidence that
such q road would soon be built was en-
phasizSd by the long continued and very
careful work Of large, corps OF railroad
charied the line Of route. % This sNsu su4u "on On
us route to the Pacific would cut q point
near Cape Horn, which is only twenty
I've miles from the Lost Packer mine.
during the past. summer this road has
from the evidence given by the fact that
the Ifill people are connecting the branch
hnilt into Salmon City with the main
line. necessitating the building uf some
thing like forty miles Of new track. which,
is now being put In. and the further fact
that sonc railroad people have purchased
rescrye along the proposed route. seems
SUFFICIENT cause for nnc to feel that the
railroad is tn he built
IT was, partly in the hope thas this
Tona would he put through and partly
because CT some unfavorahle existing
conditions nlong the Salmon river last
summer, which caused the board Of d.
nreetors IF the Lost Packer company &,
1ieier smelter run 10 some future Time
During the hard winter OF 1909 and
I'D all the hay and grain along and
las fed out. SD that freight trains would
e compelled To bring In feed from out-
de this section. This would hamper the
Sarns In. operation and increase the cost
Inc Teams which lo IN
for frelghting from The mine had mostly
hren taken IN Twin Bridge or vicinity t.
work on the railrnnd grade. This would
make II necessary la secure tesms from
thn nther sections. which would be both
'tfnrult and expensive. In addition to
ne aSnSe ins whic5 ihc5e sSod we,s several levels in
nrHnr In facilitate the hauling and lessen
me expenses OF delivering ore from the
mine to the sncltcr. Furthermore. the
wifi prices low
ITO prosecute required work at the
mine. the directors found II necessary to
iH the treasury, so a loan of SIS oO0 was
obtained at an Interest rate of 81 per
cent The time for which same was bor-
roWr,i was eighteen months
1.-THE No. 10 adlt has been advanced to
point directly under Nos, and 7
raises. aud the work Of making. connec-
work. VIC have cut fhe southeriy ore ere
shoot; which was known to exist on No.
3. The point at which same was cut is
some twenty feet above No. TO- nnd the
ore at this pnint Is fifteen inches This
gives proof Of the existence of the ore
al Greater depth. II also indicates the
existence of the ore at large area NJ
Virgin ground, as this is the first ievcl-
oprnent work done below No. g. which is
nosr'S POO feet above No. 10 From the
above, L seems safe ~ conclude shpt
.na,ty thousands nf tnna NJ nrc will he
c'n,e available below No. level