Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-10-04
mining, BUSINESS AND STOCKS.
CONSOLIDATED MERCUR
MAKES ANNUAL REPORT
President Dc,m Declares Future Looks
Embellishments Makes
3aE5 Money on Narrow Margin.

\ = B . r.
i Although the Consolidated Mercur
y company pulled through the fiscai year
4 with an earning of Sl66Slos, IL was
\ accomplished on a narrow inhirsih- nv
Soulck assets Of the company amount
n 10 ss4 eo4.54,s in which is included ST.
( $685. in cash. Tho accounts paSaolc
4 are $3.50.
i rho gross value Of gold produced was
q, Ssl3.l4s92, while the receipts rom tne
<, Gold Belt Water company, , Man'i nus
a taIlings ground rent and me iike
i brought the total revenue up 70 Se-e 30,
$4,000, II cost s3l2,9l5 to run the mili
q durln. the year and thefmining cx-
lpense was $266,3t7l2
4 The mines averaged 1893 tons per
lnionth, OF 63S tons per DAY. Mii,ihs
Z. COSTS we're sl4S per ton and the milling
1tcost Was S, is a ton The total cost for
5Emining and milling was 1858 II ton inc
Hos, In the tailings was "a cents ton,
3ilmakjnp the average value of the ore
treated $3.50 n ton The net profit 10
the company WAS 29.hS cents FOR cach
ounce of gold sold. The company treat
ed 1881 tons of ore during the year
from which 1t Obtained -9''oV.4V-o i''s
X ounces IN gold
President John Dern sizes UP the 81
nation quickly In his statement. while
1.-THE report made by General Manager
4 George Fl. Dei1 goes into detail to con-
\ sIderable extent as to operations at the
lminc and the mill,
B DERN's STATEMENT.
President Dorm In his report says in
part:
Tho results for the year are not par
4 ticularly gratifying. the net earnings
being only sl6.53L0S. and 1t has taken
Exceedingly hard and careful work to
make any money mt all Indeed, sew
4 ernl months OF the year showed net
loss We are operating on so close a
l1nargin that 1t is u constant worry to
know whether we are gaining or losing.
slight mshaps or interruptions that
would scarcely he worthy of mention
under more favorable general condi-4
3itions now serve to throw our results
3!from the profit to the loss column,
..Thereason for this precarious condi-t
Titan lies In the fact that our ore COIL
sltinues to get lower grade. 1t Ii true
Sithat the average for the year covered
5Iby this report Ia one cent higher than
for the preceding year, but this was
lonly brought about by reducing the
iltonnage. 1t was hoped that by cutting
1.-THE tonnage the average value Of the
lore could be raised sufficiently to In
u creaso the profits! BY this means the,
lore values were held Zip to last years
results, but we treated 10000 tons less;
Thence the gross production and the net
Earnings both decreased.
CUT EXPENSES
&! .,The expenses were only one cent
slper ton more thun for the preceding
:, year, which is considered creditahle in
s,yiew OF the reduced tonnage, and an
increase of per cent III the proportion
lof base ore treated,
1.-the extraction was not quite az good
las last year The increase In the tall
q ling loss Is chiefly due to the Oxldizcd
iore from the Rrickyard mine. which Is
livery much harder than any ore ever
heretofore encountered In our mines,
and on which. even In the laboratory, II
lis impossible to get such low t,lillngs
jas are usually obtalnable on Mercnr
lore. Another factor was the cxcep-5
lttnnally cold weather last December and
iJanuary., wiliciifepeatvdiys froGt; III. the
Until to such an extent that twas al
lmost Impossible to keep running at all.
ITO say nothing of getting satisfactory
results.
."Prospecting has been energetically3
kept UP during the year. as Is appnr-
lent from the statement that over $1,000
Il WAS expended in new work of this char
actcr. stated last year that we had
{. "a Soon zeal OF promising territory tuut
= I'VE intended to test. This referred Tpar-3
tlcularly to the Apcx and Magazine
vein south of the fault In the Rriokyurd
mine. We had strong hopes for these,
places. and we're deeply disappointed
when no orc was. found in them
EXPECTS NO CHANGE.
"On account of the disappointing de-
Nelopments, and the constant tendency
of the ore to get lower grade, re-
tgret that l have no sufficient reason to.
hold out any encouragement for I'm
proved results during tho ensuing
q year. 2'it4 VI
81 During tho year the company'suffered
the loss of II member 6f Its board or
! directors. Mr.. Howard II. Airs, who
5Idied on May %. 1910. In recognition of
MIR. Airis's valuable services, and in to-
ken of the high regard in which he was
held. the board of directors on June 4.
h9lo, adopted the resolutions which are
printed herein.
4 BETTER TONE TO MARKET. IA
Trading Is More Llvcly--Slnushtcr
Opcx on the Curb.
p There WAS n better undertone to the
market this morning than has existed