The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-06-07
NEW BOARD FOR
COLUMBUS CON.
Control of Company Passes
From Mccormick jacobson
Interests Monday.
INSURGENTS GAIN
ALL THE PLACES
Report of Mine and Treasury
Conditions Submitted at
the Meeting.

As rorecasted in these columns last
week, there was very harmonious
annual session OF the Columbus Consoii-
dated stockholders yesterday. The con-
trol OF the company for the first time
in it's history passes out OF the hands OF
the Mccormick jacobson interests. the
insurgents, headed by {. II. Gibbs. Lewis
y. Jeits and Walter l.. Mas. making
clean sweep to the tune Of $4,000 10
$4,000 shares OF stock.
Three new directors appear upon tne
board. namely. \. II. Cowie. {. VI. Gibbs
and h. o. Williams, Charles l.. Walker
was reelected a director and also chosen
as vice president, aud Lewis y. Jetis
selected TO succeed himself as q dt-
rector. Cowie Is president OF the COM
pany and h. O. Williams of tho Utah
Fuel company is secretary and treasurer.
General Manager Tony Jacobson sub
mitted a report To stockholders early in
MAY. and the same report was read at
gether with the financial report from
June !, 1910 10 April 80. 1911. follows:
Mine Report Filed,
During the past fourteen months the
company has produced 2i@2 tons OF first
cfass ore for which we received the sum
Of S4S,G91.19. and also 1900 ions OF con
centrates for which we received $40,
;0.66. The leasers who have been
operating for the past year have shipped
1872 tons at gross value Of s29,50S.4o
royalty of oue-third of the net proceeds
There has been 1900 feet of develop
ment work done in drifting, raising and
sinking. In this work. nothing OF any
consequence has been opened up. The
best showing We had was on our 400 |
foot level in What we call our East Drift. |
Ia thus drlft there was considerabl" work
done, and in the opinion OF the manage !
ment. We were Just getting into large !
ore body which would be east OF the big |
fault a the time the mine was drowned |
out
The causes of our being drowned out |
are that during the month OF December !
the weather was extremely cold, freez- |
ing up the creek 10 such an extent that !
The water supply or tho power plant was |
shut OH When the weather moderated !
sufficiently 10 give power enough 10 /
operate the pumps. they were again put
in operation, hut the water had risen
abou: twenty feet above the 40o-foot
level. and before IL could be lowered the
pumps had sprung leak and caused !
short circuit on tho motor. thereby put
ting II out or commission. and we were
not aole 10 reach the level again with
the equipment That had on hand
The directors have since let contract
for the unwaterinc of the mine at n
stipulated cost of $500. The contractor
will have the pumps Installed and they
DAYS. and he says that he will undouhi
edly ha' the water out Within thirty
davs and, II he does 1t will give us
chance To continue our exploration work
t. get some good results.
The company is still i'm debt $4,000 on
? note 10 lis bankers. As may he seen in
tho financial statement. 1t may not he |,
necessary to lcvv another assessment at
once uulcss tho bank calls for tho money
but N 1t does, u ten-cent assessment
would clean M the entire Indebtedness
NJ to company and pay for the pump
uc cut ~ thc mine, hut we are in hopes
If reaching the i00-foot level before this
will lac necessary aud II conditions are
IS we expect IN find them after blast
ing the holes tina, arc supposed 10 have
been drilled into the orc hody in the East
Drift the in0- foot level. il may not be
necessary Tor an additional assess
nrnt
Tho company is not doing anything al
he nrcseut lime in tho way Of develop
reui work. hui There are about twenty
easers operating i'm the old workings
above the tunnel icVcl and the revenue
wc receive from them and the sale OF ;
rowcr will meet the present cXpense OF
,peration.