The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-05-21
Manager jacobson Tells How
Mine Was Drowned Out
Last Winter.
SOURCE OF POWER
FAILED WHEN NEEDED
Financial Shape of Company
for Over Year Past Given
i'm Detail.

General Manager Tony Jacobson OF the
Columbus Consolidated company is for
warding 10 shareholders the usual notice
of the annual meeting to be held in the
local offices OF the company on june 1.
Accompanying the notice is a report re-
eardmg mine conditions and a financial
statement which reads as follows:
During the past fourteen months The
company has produced 2l2@ tons OF first
class ore, for which We received the sum
OF SfS,G%119, and also $500 tons of con-
Centrates, for which we received $40,
liO.66. The leaSers who have been oper-
atins for tho past year have shipped 1892
tons at a gross value OF $50 5O5.s0, upon
which the company received a royalty OF
one third OF the net proceeds.
There has been 1900 feet OF development
work done in drifting, raising and sink
ing. In this work nothing Of any consc-
showing We had was on our i00foot
level, in what We cali our east drift In
this drift there was considerable work
done. and in The opinion of the manage
ment VIC were just getting into a. large
ore body which would be east Of the big
fault, at the time the mine was drowned
out.
How Mine Was Drowned.
The causes OF our being drowned out
arc thar during the month OF December
the weather was extremely cold freezing
up the creek TO such an extent that the
water supply of the power plant was
Sufficiently TO give power enough 10 OBJ
crate the pumps, they were again put in
operation. but the water had risen about
twenty feet above the 400 foot level and
before il could be lowered the pumps had
sprung leak and caused a short circuit
on the motor, thereby putting il out OF
commission and we were not able TO
reach the level again with the equipment
that We had on hand.
The directors have since let contract
lor the unwaterinS of the mine al
will have the pumps installed and they
VIII DC in operation within the next ten
days, and he says that he Will undoubr-
edly have the water out within thirty
Gays. and II he does il will give lis a
chance to continue our exploration work
on The fo0-foot level where VIC expect
TO set some good results.
Debt of Company.
Tho company is still in debt s25 oOo on
note 10 its bankers. as may lie seen
be necessary TO levy another assessment
at once unless the hank calls for the
money, but If il docs a 10 cent assess
ment would clean up the entire indebted
ness Of the company and pay for the
pumping out OF the mine. hut we are In
hopes OF reaching the a0ofoot level be-
fore fore this viii be necessary. and if condi
after blasting the holes that arc sup
posed 10 have been drilled into the ore
body in the cast drift on the 4oO-foot
level IL may not he necessary for an ad-
ditional assessment.
The company Is not doing anything at
the present lime in the way of develop
ment work, but there arc about twenty
leasers operating IN the old workings
above the tunnel level and the revenue
we receive from them and the sale OF
power will meet the present expense of
opera ton.
Jreasurers report Of receipts aud dis
husements from January /. 1910. 10 April
so, 1911: