The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-06-06
MINES AND MINING
COSTS LITTLE TO
HANDLE OHIO ORE
Heinze Tells of Outlook for
Various Concerns Controlled
by United.

Ohio Copper. according to the address
Of President F. A HeInze TO stockhold-
ers Of the United Copper company,
mines, transports and mills its ores al
q total cost OF Sl.OS ton The saving
inade By the mil is small-only little
more than 50 per cent-and the cost Of
smelling Is not given. but, assuming
that the total cost is $3.50 a ton, and
that the yield is only 20 pounds OF cop
per TO the ton OF ore, the company
net earnings, with only one-half OF its
mill in operation, should be close to
$500 a day. Mr.. Heinze says:
The Ohio company has erected a mill
at Lark, Utah. which. when entirely
completed, Will have a capacity ar 5000
tons daily. one half of the mill is fin
ished, and in actual operation. The cost
OF milling has been 3S cents per ton.
Figures so far obtained Indicate that
we shall be able to mine at under so
cents a ton.
The average grade of concentrates
produced to April 1 was 21-119 per cent
copper, Asa ounces silver, and .O521
ounces OF gold per ton, and a saving
OF little better than so per cent was
made. Great strides have been made
with the development OF this property
by reason of the tunnel underwriting
the ore bodies at a depth of 1.40O feet,
and the higly advantageous railway
connection between the mine and the
MILL The freight rate on ore between
the mine and mill is Is cents per ton
on account of these favorable condi-
lions, when the mill is completed we
are confident that we shall produce
copper at cost, at least, as low as the
other porphyry properties in the Bing-
ham and ely camps
"Ore in sight Is over 100000 tons,
and that on development OF only one
quarter Of the property. The continued
low market price OF copper has pre-
vented the complete realization on the
large copper deposits in this mine: but
even at present figures. experts report
that the ascertained ore OF the Ohio
m a vi Of
Is worth upwards Of $4,000. 600: on a
lucent market Il would be worth
$4,000, O0O."
Speaks of Litigation
OF the United Copper affairs in gen
eral. Mr.. Heinze says.
1T was hoped that upon the adjust
ment OF the litigation in which your
company for 50 many years labored, its
progress would thenceforth be unham
pered. but following close upon that
adjustment came the continuous litiga-
ton against me. which. among other
things, prevented me from applying
my energies in your behalf to the ex-
tent that 1 had wished.
The investments made by your COM
pany upon that adjustment have had to
be carefully safeguarded- Theya have
required constant care and attention.
but Notwithstanding the inauspicious
business conditions that have existed
50 long, and the continued low levels
OF metal prices, they have, in my judg
ment, justified the confidence origi-
nally placed in them.
1T is my firm conviction that, with
1udtciOus management and undisturbed
attention, these properties can shortly
be placed upon basis which will give
the stockholders OF this company that
assurance OF values which, in my judg-
ment. really exists.
The Stewart Mining company has
capitalization Of 81. 25O. 900. OF which II
treasury s2ss.73s. The United Copper
company holds a control of this stock
through the Montana ore Purchasing
company, which owns S673.25O of the
stock. The Stewart is silver and lead
property located in the Occur d'Alene
district OF Idaho.
The United Copper company has
leased from the Federal Mining &
Smelling company the latter's concen-
trating plant known as the Mammoth
mill al an average rental not exceeding
handling the tailings. With the use OF
this concentrating plant IL is believed
that the Stewart mine Will rapidly
place itself on a highly profitable basis
and become a revenue producer for the
United.
The United Copper company is the
owner Of twO-thirds of the New York
a Pittsburg Coal company. and through
the Montana ore Purchasing company.
Is the owner Of the first mortgage Of
| $500. goo on the property.
The British Columbia lands consist
Of an undivided half interest IN $4,000
acres located in the southern part Of
| British Columbia. A recent examina-
| ton Of this tract by G. w. Mason Of
Occur d'Alene City. Idaho. an expert on
I timber and land values. resulted in a
report estimating the value Of the 539,-
/ 010 acres Of land at s2.54s.375. and the
| estimated $4,000. 900 feet OF timber
thereon at s1,411,500, total OF s3,-
l 957.S75.
THE Lexington mine is held by the
/ La France Copper company. which is
I controlled by the United. There are
! available between the surface and the
/ f00-foot level $4,000 tons Of ore. and
/ between the 400 and 1000 foot levels at
/ least 10000 tons.
/ The Basin Reduction company prop
| erty consists OF completely equipped
mill with all its appurtenances erected
at cost exceeding S1.50O.000. The
/ Danielsville plains are situated in Deer
Lodge county. about 20 miles from Ana
cOnda, Mont. There are some 3 claims.
extending approximately over ESQ acres
which were acquired for the United for
the reason OF their promise OF devel-
oping gold ore.
The United Copper company also
owns and holds a variety OF securities
or other companies with whose man.
agement 70 has no connection. but
! which are Of substantial value"