The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-04-26
Prosperous Season Closed by
Round Mountain Mining
Company.
TO INCREASE THE
MILLS CAPACITY
Company Testing in Courts Its
ExtraIateraI Rights Over
Its NeighbOrs.

j. r. Davis general manager Of the
Round Mountain Mining company. has is
sued his regular annual report on the af-
fairs OF the organization. In regard 10
the past years work. he states that SO9S
feet Of development work was done, The
work being confined largely 10 the 500.
700 500 and a00 levels The report then
SAYS:
Your company now has 1880 tons of
ore blocked out ready for STOPPING. show
ing an increase In our ore reserves oyer
that shown last year OF 5ibS tons. The
value of this ore based upon the average
recovery as shown by mint returns Tor
the past ycar-S11,63 per ton, would be
S521 so AS much Of the ore now en-
posed Is OF lower grade than that mi)led
during the past year. ] do not feel war
ranted In estimating the gross value of
the ore In sight by the above figure, but
from the results obtained from orc millcd
from the footwall section, / feel warrant
ed in saying that the average value OF
the ore exposed is between SO and $40
per ton. In order that your company
a net profit per month as that obtained
from the higher grade ores. II has been
decided to increase our milling plant; and
contracts have been let for machinery
which will increase the capacity from 100
tons per day. the present output, TO $50
tons per day BY mining and milllng
larger bodies of ore. We hope to cconsid :
orably decrease the costs per ton as
shown for the past year. That these
costs can be reduced Is evidenced from
the fact that during the month OF March
ton. as against oS5O tons mined and
milled In February at cost OF S5.S69 per
ton.
During the year your company has
mined and millcd 35.s59.9 tons OF ore OF
an average value OF Sligo per ton, Of a
gross value, OF $303. S6i.63. and net value
above mining, milling and development
costs and general expenses OF sl92 SO5.2l +,
,la.. lf1t q
thus giving your company total net
profit for The year OF Sl9i .0i9.25. This
shows a net increase over the earnings
of the year previous OF Sl6.959.SO. The
s6.01 last year showing a decrease In
cost of so,15l per ton.
Resides paving four quarterly diVi,,
dcnds of 4 cents per share on the issued
stock amounting to s13l,1s0.97. your COM
pany has, during the past year. purchased
53l 500 shares Of the Round Mountain
Combination Mining company stock at d
cost OF SIG 035. 40; and has purchased for
50 00O shares OF your company's treasury
stock the Black Hawk lode mining claim
(patented) and three fractional claims.
Mountain Combination Mining company
has been taken over. This property COM
prised the Blue jay No. 4, Hobo Fraction,
o. K. Fraction. Blue jay No. 2. and the
White Horse Fraction, In all total OF
approximately thirty acres adjoining your
company's property Oh the east. Your
company has added very materially TO
the worth of It's holdings by the acqulsi-
tlon of these properties. This gives 10
your company total OF 222.oT9 acres OF
patented ground and n total of 121625
acres unpatented. making in all 3i3. I0i
acres owned by your company. During
the year your company has received pat
ent TO what was formerly known as the
Round Mountain Extension group OF
claims and has also received flnal re
ceiver's receipt for the Great Western
group OF claims,
During the year your company has
added TO its mine and mill equipment
October. the Round Mountain Sphinx and
Round Mountain Red Top companies
questioned the extra la tcral rights OF
your company 20 portions OF our vein on
its dip after passing out OF our exterior
boundary lines. Feeing that the time
had come to assert our rights: and have
them settled for all time, we promptly
lateral portions OF the vein, and the trial
Is set for May ?. and we feel confident of
favorable results and believe that during
the coming year your company Will be
free from all litigation.
I'm conclusion. your company now has
In its treasury s52 109.3e. showing an In
crease over that shown last year OF s12.-
$500. There should he no difficulty in
maintaining the present dividend rate"
During the past fiscal year the company
cleaned up s3oo.196.32 net profit. paying
Sl31 ,1S0.9I dividends. The undivided
profits remaining on April /. 1910. were
SlGa. .0l5.35. Since the beginning OF op-
erations. the company has mined and
milled 11,500 tons Of ore, the total mint
returns being S916.1227S, and the dlvl-
dends paid to date arc s25a.os2.lS