The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-06-06
UNCLE SAM HELD
ANNUAL SESSION
Splendid Year Closed During
Which Good Profits We're
Piled Up.
BIG TONNAGE is
SENT TO MARKET
Supt. Griggs Gives Detailed
Report of Mine Work Dur
ing Year.

The Uncle Sam Consolidated began its
past fiscal year on June /, 1910, with
Sl2.04S.37 cash on hand. and ii closed the
year with $G2,i5t.27 on hand after paying
$40 900 in dividends during this period.
These facts were released Monday at the
annual stockholders meeting. The COM
pany sent 1884 tons of ore TO the market
during the year, receiving net for the
same SOP, S2I.a6. or S20.50 per ton. Ihe
total receipts for the year were s.lo: !.
063.65: the disbursements were $S2,S12.3s
dends. The ne; profit Tor the year WAS
S120.5l5.5s
In the report OF the, secretary and
treasurer the net value of the ore per ION
was explained by the fact that tho rich
find was not made until tho latter part or
the year. and some OF the shipments mace
by the leasers also were included In the
total
The following directors were elected !:
John DcI1. NJ. r. Braffet. T.. b. l>lmoall,
J. {. Dick, all of Salt Lake. and George
not at tho meeting. being east on business
connected with the state capitol build :
ing. and he LEFT Il communication 10 ne
read 10 stockholders giving his views re.
eardine the very satisfactory season Just
closed.
Superintendent C. c. GriEgs submitted
report for the year. OF which tho fol-
lowing is an excerpt:
NllHS OcNoiOpiilciiSos
"The past year has been an eyentful
epoch AT this time last year we had
worked the ore bodies down 10 the Beck
Tunnel side line. with every prospect
OF being without ore in our own territory
To follow the ore body into the Beck
Tunnel ground meant a lawsuit ahead,
and although we might eventually have
established our ownership OF the ore. yet
without interrupted operations and heavy
expense. The situation. therefore, was
dubious and the future did not look
bright.
Just at the critical time. however, an
important new development changed the
aspect Of things entirely. Right at the
point where the mine seemed 10 lose us
ore we developed new break, running
crossways from any OF The OLD channels
worked before back across the mine into
new territory. Contrary 10 all the geo
logical formation heretofore exposed In
this side hill. we established new ore
bodies i'm territory away from any old
workings in the mine. and these new ore
bodies in size and richness, compared
favorahly with The shoots that had made
the mines previous history. The best
part OF il ALI was the ore channels lined
up in n direction that gave the maximum
distance possible to obtain in the property
on the strike OF the orc.
''In addition to this We have but re-
Gently opened up a new channel OF ore
next TO the Beck Tunnel line, still south
Of the ore worked the year past. and this
erative channel Of orc, running parallel
10 the main one. II this proves TO be the
case, IL now has every evidence Of do
ing and continues on the strike indicated
at the present time, the Uncle Sam viii
have long period OF productlVeness in
sight.
Suit Compromised.
81 Nigh, mention word concerning the
Beck Tunnel compromise, and about the
te rritory We obtained in the settlement Of
l,1 Law
new ore channels have made toward the
east In a series of parallel channels, These
! would Interpret as a parallel hssurnG
which bears every evidence OF continuing
toward the east and will probably
eventually connect with the old orc bodies
worked out in the old workings Of the
Beck Tunnel mine, AZ the present time
there are two distinct channels. and no
doubt the Beck Tunnel will find another
one stll south OF our end line: The two
channels now opened up ] will designate
channel and the No. the south channel,
These are running east and west and
parallel on their strike. with a rib OF low
grade quartz and lime between them and
some thing like 100 feet apart.
"In our compromise with the Beck Tun
mel VIC secured 200 feet on the dip OF
section OF the mine that would contain
the east extension OF No. / channel. and
No. 2 channel lies entirely on the Beck
Tunne! side of the compromise ground
on It's easierly extension from the side
i1nc, OUT the westerly Extensions OF DOlD
No. l and No. run right back into Uncle
Sam territory, This leaves us for new
ground the westerly extension of No. !
vein. with about 400 feet Of virgin terri
tory ahead of II. before IL goes into the
Anaconda ground. the westerly extension
Of the new No. vein going back into
the Humbug Unclc Sam ground with
a bout 1000 feet ahead of IL on its strike
and the casterly extension Of the No. ]
vein with 200 feet on the strike. into
the territory we obtained by the compro-
mise with the Beck Tunnel company. This
practically gives us three different and
separate ore channels to carry on into
new territory,
I'm the compromise with the Beck Tun
mel we also obtained the use Of their
new tunnel for running ore from the
mine. We are enabled by this to load
our ores from tho deeper levels of the
mine into the cars of the Eureka Hill
railway for transportation thus doing
AWAY with the wagon haul down the side
hill 10 the Summit switch. This is an
advantage in the fact that VIC Will moi
he bothered with stormy weather in win
ter as to the Shipments. and also in the
fact that the ore can now he sampled
at Silver City IL also cuts down some
what on the expense OF taking the ore
from The mime. "