The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-05-05

NEARLY HALF MILLION
LOSS IN A MONTH
Physical Condition of Mine Is
Considered Good at the
Present Time.

What is the matter with Iron Blossom
No more discussed question is occupy
ing the attention of the talent on the
local board for the stock. back of which
is one of the big developed mines of the
state. within the past month has dropped
from sl.60 TO Sl20 share. dcprecia-
ton of 100000. bringing the stock to
where il is paying 33 is per cent in
dividends per annum.
a week or ten DAYS ago the manage
ment reported that IL had been deter
mined TO reduce the number OF miners
ings placing them at work on develop
ment effort below the 500 level OF the
No. ! shaft; and to as great "a, depu1 ,ha
amount in money value shipped from the
No. l shaft would be maintained by sort
ing the ore. sending better grade al
though a lower tonnage to market
About month ago prominent engl.
neer well acquainted with this mine and
the Tintic district as a whole, and who
ination OF the property. stated In these
columns that the Iron Blossom company
had blocked out its ore body longitud :
inally for 2600 feet. in extreme places the
ore had been demonstrated for a depth
OF 200 feet. and the width ranged from
ten 10 fifty feet, suggesting an average
of al least twenty feet in width. He
stated at the time that there was no
other mine in the safe with much ore
actually blocked out, but as TO the value
OF the orc he could not state positively.
Policy at the Colorado,
The manasement OF this company
which is the same in the case OF The
Colorado Mining company, has been
criticised for the manner in which II han
died the Colorado Many have expressed
the opinion that il would have been bet
ter had more development and less mar
keting OF the richest ore been done. for
al the latter end of the mine's develop
ment there was a large tonnage Of low
grade ore left which could have been
sent TO the market more prontably had
the richer ore been conserved and ulti-
mately mixed with this lower grade,
The management is now being criti
clsed for the policy of not gougnE OUT
the richer ores nf the No. shaft work
ings OF tho Iron Blossom property. prov
ing that 1t is q pretty hard proposition
TO please everyone.
Those best familiar with the property
believe the officials are now proceeding
along the very best lines possible In
marketing its lower grade silver and sold
ore, which is highly silicious, II is taking
advantage OF an ore contract which per-
mts the shipment OF the same at a good
profit, but. which market may not last
forever. Should the time ever come when
the smelter demand for this silicious ore
be withdrawn or restricted then the
company will be able 10 ease Up al the
No. shaft. and resume shipments again
higher grade and more desirable ores OF
the No shaft workings. This is merely
surmise. but it may be correct; at best
II can be said TO sound logical.
Important New Work.
In the meantime the No. shaft drift
on The 6l0-foot level is making for the
same large and rich ore body discovered
hv the cave workings on the 100 and 50C
levels. and that success will crown this
effort few doubt who have seen the man
ner In which the ore has gone down with
each succeeding level as the No. shaft
territory was prospectcd. This 500 drift
is not many DAYS from the objective
point. and the discovery of ore as antici-
pated may alter the shipment programme
somewhat
II is taken as a sure proposition that
the mine has not deteroTated 100000 in
value during the past month. And those
in A position 10 know assert that the
company is now earning its regular divi-
dends. They have confidence in the aims
OF those In charge and when the present
somewhat obscure policy of the company
is made generally known by the results.
the shareholders will find the windup
fashioned very much after The ending OF
a popular novel-all will be well and
everyone will live happily forever after.