The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-02-25
Arabian Nights Wonders Ri
vailed by Huge Dividend
Producing Mines.
MILLIONS DISTRIBUTED
TO STOCKHOLDERS
Utah Copper, Nevada and Gold
field Consolidated Are
Bonanzas.

Yesterday was tho big dividend day
for two copper and ono gold mining
companies. The Utah Copper and Ne
vada Consolidated posted the regular
quarterly dividends. and Goldfield Con
solidatcd did likewise. Utah Copper Will
pay 20 cents a share. aggregating s11Ao.-
1lo. bringing its total dividends up TO
SGa54,S60. Nevada Consolidated will
pay 37i cents share amounting 10
$500. 900. and brings it's total dividends
up to s4.331.aal Goldfcld Consolidated
Will distribute Sl,I1S.549, and this amount
added to former payments 10 share
holders will bring its grand total up to
s14. .5Ss 3S5. The aggregate amount OF
money posted for payment 10 sharehold o
erS Yesterday foots UP TO SS,52t.65a which
they Will doubtless continue 10 distribute
throughout the remainder OF the year.
All of these properties arc youngsters.
having been developed and converted in
time. The combined dividends paid by
these companies Will. when this last pay
ment is made. amount 10 S26.3I3 436. This
bearing rocks of Utah and Nevada.
and all three OF the properties have re
auired some expert treatment. which
has added new cpochs TO the metalurgy
of the world.
In the Utah Copper at Bingham. the
country is presented with the largest
porphyry mining proposition that is be
ing operated in tic world. When all Of
its mill equipment is installed and its
railroad line between the mine and mill
plants is completed. II will be treating
an average Of % 600 tons of orc bearing
rock daily. The marvellous part of this
work is thai the ore is one Of the lowest
grade propositions ever mined. and yet
1t is estimated that H. viii he paying
profits in excess of s.. .ooo, 900 annually
for more than fifty years to come. From
the time this orc IS mined until u is
refined and sold in the eastern ma rlie Is.
ninety days have elapsed. and the amount
Of ore thus continually in transit repre-
sents something like a years dividends.
Nevada's Big Mines.
Goldfield Consolidated is conceded to
be the greatest gold mine in the world
today Its career has been without a
parallel, almost. in the annals OF min
ing history. Repeatedly statements have
come from the property that It's rich ore
when the management needs million
dollars to fatton up the treasury a few
cars of precious metal is delved from
the mine and the mammoth dividend is
paid, In addition TO leaving a tidy MIL
lion dollars In the treasury as a guar
antee against amy mlshaps that may oc-
cur at the mine On its lowest level.
which is 1000 feet from the surface II
has some OF its greatest mineral wealth.
and It has had this ore almost from the
grass roots. Some geologists occasionally
venture the assertion that the mine Will
not produce ore To greater depth. yet
This samo report was made OF the mine
when ore was being extracted at 500
and 400 feet from the surface
Nevada. Consolidated is the lowest cost
producing mine In the porphyry class,
At times il has produced its orc down
around cents a pound. With the mar
kot prices of the metal just twice the
cost OF producing it, and possibilities OF
II going several points higher, il is easy
TO understand why large, profits arc be-
troll of this company is held by Utah
Copper interests.