The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-11-05
GOOD SAVING AI /
MAYFL0WER Nj
Present Company H,,,
Ore at a Greatly R..
duced Expense. \
OUTLOOK FAvoRAD|
Debts, Except Two 6,
Ones, Have Been VIM
From the Slate. |
OUTLOOK FAvORln

I'm notifying the sharehos.,. .
annual meeting OF the Mayro,..
frog Consolidated and the A.
Leasing companies is 10 hs h.,%
President Charles r. Durh.,
tary Robert j. McGahie lsru.
ment covering the operation, !,
year which viii prove OF Jn,.,..,
owning the stock. but yho
record. Tho statement fo,Io,,
As you have already heen id
the report dated Novemhsr q,
the condition OF tho MayfIo,.
company Mt the tlnn the -.
thereof was assured by the n,,,..!.
or directors, and as YOU vs,,
formed OF the organization ~ ,,
ing company and necessity a.
Is therefore deemed unnece,,.
peat the same al this ,Ir1s
report Will he supplcmen,sl I,
port dated November 1. laI6 49,
confined 10 what has been 49,.
since said date and what We ho,i
In the future. ~ y
The Leasing company has ~
h, Code, expert mining engines .
n thorough examination Of he ~
property, and his report b~lne s,,1
he was then engaged BIZ II as.
tendeut and manager. the Itas.,
pany providing the necessary -.
repairs and development. a g,s,r ~
money being required FOR boi -
mine and mill property were n :.
poor state Of repair, Preyloy, =
starting of the mill In Fsbr,nr,
about $4,000 was expended n ,,.
the mine thoroughly, retlmbss,s
putting the machinery. mil. :,
plant and other equipment In,s !,
condition as possible. From F,s,,i,
IN September /. 1911, the min, h,
I duced about $3.50 tons of ore. -
So per ton; OF this, about i.ir'
saved In the mill and cyanId. ~,
SO per ton, leaving tl0lTo In ~
ings, or 81 per ton. The total In.
during that period were nbsu, II
The operating expenses have N
fDl and economical mauasenpct
reduced Ia about $3.50 per inn. \,
under former management n ia
over $40 per ton, and has even -
SIS per ton.
the slopes on the 200 level m
hoped these slopes will contlnga is|
ducs ore of fair value for szt
North OF the present Slopes On d
level is about 1000 feet OF virgin :,
which n Is proposed TO rropea I
near future. II Is the present ~
Of the n1ata ecmcnt 10 rim .hs N|
north and continue sinking the ~
the 400 level. whore a small T1,s.
s15 values WAS encountered; hs
cutting Of the formation on the vi
north OF the present Slopes at
of the shaft to intercept the on
from fhe coo level The mstslnI
the ores has given little trouks
as the shines have increased %
! that a classificr had IN be put h. n
in taking out the shines has Put q
of 81 material on the dump, VII
be worked economically only VI
agltator. This IS now being ereae
when completed and working ~
torily ore of value OF $3.50 pr =
be treated at a profit
The outlook for the future 0! NJ
Is very fair, as there Is no rei,'s
an ore body should not ba sresr
equal 10 that on the 900 level
All old debts and liabilities ei usl
pany. with the exception OF Two ~
Ing to less than $1,000. have rse
and discharged. and there were o.
able OF them.
The. A, c. EIsen Judgment aaSsI
turned over TO the Leasing cocr
Mr.. McMullen at the request OF ~
bar, and Mr., Dunbar has aefeP-
ing company stock AT par N
thereof; the efforts of Mr.. DuhN
his attorneys in this one us.s
alone making a SAVING 10 '"'
NJ ohoyt $40 900.