The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-06-29
REPORT Of BECK
TUNNEL ISSUED
Company May Close Down Mine
Unless Some New Ore
Is Found.
MUCH WORK DONE
DURING LAST YEAR
All Effort Centered on Hundred
Level i'm Search
of Ore.

The annual report OF the bech uiihei
company is being received by the stock
holders, the report entering into satis-
factory detail regarding the mine ana
treasury conditions, Perhaps ono OF the
most significant itoms in the report Is
that touching on the future plans, and 1T
Is TO be hoped that the present plan OF
operation will bring results soon enough
not TO necessitate closing OF the proper
ty. The report follows.
while the company operated at loss
Of s21,5T1 So for the year, the actual loss
for mine operation was Sl5.065.65, as
S2505.To was expended for electrical equip
ment to convert the steam hoist to an
electric driven hoist. and the company
issued It's notes for $4,000 in settlement Of
an agreement entered into by the, old
Bullion Beck Tunnel company and as
sumed by this company at the time OF
the consolidation. to purchase tho Shep-
ard claim This action was taken az a
compromise because OF a technicailty IN
the agreement on which the party threat
encd suit for immediate payment of So
10000, the balance of the purchase price
as agreed and in view OF reduction OF
10000 in the price, the board con-
sdcred it best to adjust the matter as
stated
"At times the ore we have been fol-
lowing has widened into slopes, which
have produced considerable good shipping
ore, but In every case these have become
low grade or pinched TO small strcaks
that have been both difficult and eNpen-
sI1-e TO follow. Consequently some months
considerable gain would be made over
cost of production and development only
10 be lost during periods when very ut
tie ore could be produced. a total OF
424553 dry tons OF orc WAS shipped to the
smelters during the year. for which the
company received s4S,ooS,5 So, or S11,1o4
per ton.
IN the last annual report the hope
WAS expressed that IL would not be nee
cssary TO resort to the levyng OF assess
n,entS TO pay the compapys indebted
ness but this has not been realized and
An assessment OF cent per share was
levied May 10, OF this assessment s403 16
has been collected.
An effort is now being made to To-
cate the vein from the companys old
shaft on the 100foot level. and should
conditions not prove more favorable than
where operated during the past year. the
management would recommend that the
mine be closed awaiting possible favorable
development by nelghboring companies.
Adjoining the property on the north, the
is installing electrical equipment with the
intention Of sinking a deep shaft. and TO
the southwark the Colorado Mining COM
pany and the Iron Blossom Consolidated
shaft on the same vein that has been
developed in this property. and should
any OF these. companies develop mine
nj greater depth. this company would
then know better how to prosecute devel-
opmsnt - a.,
sists Of 2l76 feet of drifts. raises and
crosscuts.'
Treasurers report from June 1, 1909.
TO May 81, 1910. follows:
Receipts.
Ore sales (4o4s.53 tons) ...s 5000 IS
ssspsan assessment No. s. ....., 90: =. @o5is
Accounts payable 49,. -. 1852 OF
Disbursements,
Accounts payable (June /. 1sos)s So, 37sss
wages .;.ss' -'-s"' %" -'"''-' $500 40 40
Ore freight .,..-- 3,9t439
Mining property 4,oooo
interest," ...,.. -'-.-. -. ..... S'3Ia'os
General expense So.09S,I
TOTALS .-.s.s ,..,.,s.-.- ..slZo,l3 l3f.ob
Accounts Payable.
knight Investment Co., demands s,s5ooo
J. VIM. knight. demand ....... SO. 100000
Isaac Chiffon March. 1917 -. 100000
T. e, corfman March, 1922 10000
Totals 90. ........ ......... 71.s42.o7
BY unanimous vote Of the stock rep
resented. the old board. consisting OF
Alien, Amanda NJ. Knight and William
Lester Mangum. was elected TO serve for
the ensuing year, and at a subsequent
meeting of the board, Jesse knight was
elected president, J. William Knight
vice president, and R. Z, Allen. secretary
and treasurer.
Orc Shipments.
The Utah Ore Ssmping company on
Tuesday released cars OF ore from Utah
from Nevada and / from California
camps.
Nevada News Ageuta
BAuvard-A C. Pesco.
CoJH all DeJt