The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-10-04
Disappointing Year Closed by
Veteran Profit Maker of
Mercur Camp.
ORE GROWS LEAN
In GOLD VALUES
President Dern Does Not Ex-
pect Any Better Results
This Year.

The annual report or the Consolidated
Mercur Gold Mines company was being
mailed Monday 10 stockholders Tho con-
dition of this well known old dividend
producer OF the Mercur district is we'll
summed up In The report OF President
John Dern, while the details OF tho mine
and mill are entered into in considerable
detail by General Manager George ri.
Dcrn. President Dcrn's report In par,
follows:
The results for the year are not par
ticularly gratifying. the net earnings be-
ing only $l6,5370S. and it has taken eX-
ceedingly hard and careful work 10 make
any money at all Indeed, several
months Of the year showed a net loss.
We are operating ON so close margin
that II is a constant worry 10 know
"nElhcr We are gaming or losing. Slight
scarcely be worthy OF mention under
more favorable general conditions now
serve To throw our results from the profit
10 the loss column.
tion lies in the fact that our ore con-
tlnues 10 get lower grade. 1t is true That
the average for the year covered by this
report is one cent higher than for the
preceding year, but this was only
brought about by reducing the tonnage.
1t was hoped that by cutting the ton
lIdSC lll' dNGIJSc NdIue OF llC ore CODIu
be raised sufficiently to increase the
profits. By this means the ore values
were held up to last years results. but
we treated $4,000 tons less. hence the
gross production and the net earnings
both decreased
The expenses were only one cent per
ton more than for the preceding year,
which is considered creditable I'm view
OF the reduced tonnage. and an increase
OF 8 per cent in the proportion Of base
ore treated.
r-N.
as last year. The increase in the tail
ing loss Is chiefly due 10 the oxdized
ore from the Bricliyard mine which is
very much harder than any ore ever
on which. even in the laboratory, 1T is
impossible TO get such low taiings as
arc usually obtalnable on Mercur ore.
cold weather last December and Janu-
AIRY. which repeatedly froze UP the mill
to such an extent that 1t was almost
impossible to keep running a all. 10 say
nothing OF getting satisfactory results,
Prospecting has been energeticaly kept
UP during the year, as is apparent from
the statement that over $l7 900 was eX-
/ stated last year that we had good
deal OF promising territory that we IN
tended to test This referred partcu-
arg he to Golden se AReT Gate aq ne he Mans Mans
azine vein south OF the fault In the
Brickyard mine. We had strong hopes
for these places, and were deeply dis
appointed when no ore was found in
them.
On account Of the disappointing de-
and the constant tendency
Of the ore to get lower grade. / regret
that / have no sufficient reason to hold
out any encouragement for improved re-
suits during the ensuing year
During the year the company suf-
fered the loss of a member OF lis board
Of directors. Mr. Edward II. Airs. who
lied on May %. 1910. In recognition Of
Mr. Airis's valuable services and In to-
ken of the high regard In which he was
held. the board Of directors on. June 4.
1910. adopted the resolutions which are