The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-11-22
COLORADO ANNUAL
REPORT ISSUED
Detailed Statement to the
Stockholders of Mine and
Years Results.
FUTURE POLICY CLEAR
After Big Dividends Year.
Closes With Snug Sum in
the Treasury.
FUTURE POLICY CLEAR
Special TO The Tribune.


PROVO, Utah, Nov, 21,-The Colo
RADIO Mining company today released
the report for the year recently closed,
or from November l, 1910, to Noycm-
Der |, 1911. The complete dctaus
given of mining and all other costs. OF
one of the most interesting INNING
propositions of Utah will be mnch APP
prcciatcd by shareholders. This report
follows:
During the year covered by this re-
port no additional property has been ac-
quired and but little change has pcon
made in the mine equipment, other than
that OF motive power OF the No, ] hoist
from steam TO electricity, as proposed In
tho last annual report, and the dis
possl OF the electric sub-Station ana
power contract eliminating the produc-
ton and sale OF compressed air by the
company.
Work has been prosecuted chiefly in
mining known ore bodies and prospect,
Ing on the 500 level along the channel
of ore already mined. which accounts
for the small. footaec made as shown in
the footege report. IL being the ponc!
to develop only such places giving prom
ise Of ore production, rather than pros
pectine OH lower levels OF cross-cuttinG
from tho known orc channel into new
territory. This policy has been jusu-
fled, in the opinion of the management.
from the fact that much prospecting
has been in progress off this channel and
at deeper levels by neghborlng proper
ties. briefly as follows:
Work by Neighbors.
The Sioux Consolidated, Immediately
south. has sunk its shaft To- the 600 level
and is now prospecting this section. The
Iron Blossom No, shaft, just south OF
the Sioux. has also been sunk TO the 500
level. and at present development work
giving promise Of new ore discoveries is
being done, Tho Book Tunnel, just
Of
months been following south on the
Humbug ore shoot toward Colorado ter
ritory. and II il continues in this direc-
tion il Is the intention 10 prospect west
or our No shaft TO intercept il The
Yankee. joining the Beck Tunnel on the
north. is doing very extensive work on
It's deeper levels, and Crown Point to
the eastward, Is also prospecting near
our property. Ore channels in this sec
ton generally follow closely the contour
of the mountain, and any favorable dis-
coveries in these properties would indi-
cate 10 a great extent where and in what
manner we should operate.
Dividend Policy.
In order 10 provide a sufficient work
ing capital for active development. when
warranted. the dividend has been re-
duceds and n substantial surplus main
tanned Active prospecting has m latsly
2 shaft through a crosscut east in the
porphyry, and drift south under the
orc mined on the go level There are
cross breaks in this section which should
carry ore down, and by prospecting these
breaks we are hopeful OF finding new
ore shoots. Several new ore bodies were
discovered through work done along the
ore channel on the 300 level during the
past year. which have been the prncl-
pal source of revenue. and this prospect
work will be continued so long as any
ore can be found to follow
South Of the No. ! shaft most of the
ore is highly silicous. but the bodies are
larger than they were TO the northward,
and their production has possibly been
as great per foot on the strike of the
vein as the richer orc shoots previously
mined.
Probably Camp Mill.
The mill, discussed In the last report,
has not been built. but is being consid-
cred, and there Is a possibility OF mine
owners in the Tintic district uniting in
the erection OF a mill suitable for the
treatment OF the low grade ores In the
district. There are at least 10000 tons
Of sllicious ores proven in Colorado which
should be treated by some milling process
al a profit.
The policy OF the management has been
to move carefully in the mine develop
ment. with a view OF spending money
only where conditions were favorable for
giving returns, but conditions seem now
to warrant more active prospecting,