The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-04-28
Round Mountain Affairs Are
Given in Detail by Presi-
dent Davis.
RESERVE VALUED AT
MILLION DOLLARS
Increased Mill Capacity to
Raise Earnings Materially
Over the Present.

Copies OF the annual report Of the
Round Mountain Mining company are be-
ing received by shareholders, and It's de-
tailed description Of mine and treasury
conditions has been the subject OF much
favorable comment The report shows
that the mill during the year treated 80, :
2h2 tons OF ore OF "A value of S302, $50 %.
or $s.34 per ton. and that there was a
loss i'm tailings of 5,0O2 .0S. saving of
50. $50 per cent having been made
The net earnings for the year were SS4.-
BETS. the total mine expenses and to-
April ]. 1910, the undivided profits were
Sl69 O15.35 and on February IS. 1911,
the profits totaled SlSt.006 o. Dividends
to the extent OF S69.&22.oi were paid
in his report gives the total area owned
by the company as over 222 acres OF pat
ented and over 12l acres of unpatented
ground The fiscal year was started with
So. .1O9 cash on hand and bullion In tran
sit, and the year ended with this amount
Increased TO $69,322 The company is
free from debt
total of 6564 feet OF development work
was done at a cost of SSH per foot, or
Sl.37 per ton of ore mlled. The total
cost per ton for mining and milling was
Sb.61. as compared with Sb.91 the previous
year. Litigation prevented the company
from operating in disputed ground, but
all the property not involved in litigation
Is open for development and the manage
ment has new ore bodies now well de-
veoped for mining. The new mill equip
ment will be operating within sixty days.
and this will Increase the capacity by
fifty tons daily and the earnings by 70
cost about 14,ooo, installed.
Ore Blocked Out.
At the present time the company has
l1l,92S tons of ore blocked out, the csti-
mated value of which Is 50 per ton; giy-
ing total value Of $1,000, ,352 or this
4 ~ nnI rn n
the disputed territory. No ore Is counted
that is not blocked on three or four
sides.
The report says.
The Stringer section. mentioned IN my
last annual report on the Sunnyside No.
3 claim, upon which development had
just begun. has developed well, and al
the present time shows an ore zone 200
by 300 by sixty feet deep, and the limits
of the ore body are not yet determined.
The ore from this section at the pres
ent time is being mined by the glory
hole method. all the material broken be-
Ing passed down through mill holes and
drawn from chutes at the 2oo-foot level.
and from there hoisted to the surface,
where Il IS passed through crusher.
and from the crusher IL passes Into a
trommel which screens the aterial The
oversize passes out as waste while the
fines are sent 10 the mill. averaging
about sl2 per ton. The fines represent
about one-fourth OF all The material
ferent methods of mining for this sec
ton with a view of adopting a steam
shovel system
Under date of November 90. 1910. the
officials notified the shareholders that.
owing to litigation, dividends would be
for a period Of one year from
that time. The report states mat at
present there is nothing TO add TO this
phase of the companys affairs, but any
change In plans will be made known to
all concerned as soon as possible.