The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-09-16
AFTER PORPHYR|ES
ARE ALL FORGOTTEN
Meaning of Often-Heard Ex-
preston Not One of
Derision.
THEIR LIVES LIMITED
But Their Earnings Are Gen
crous to Compensate
for This.
THEIR LIVES LIMITED

| The frequently used expression 10 the
effect that the vein mining camps will
he producing copper long after the So
called porphyry propositions are forgot
| ten docs not raise the ire OF the branch
! OF The industry devoted 10 porphyry
mining half as much MS might be cX-
| pected, AS a matter OF fact this statement
merely sets forth a fact long admitted by
| the porphyry operators. which Is merely
| that the porphyries will be OF a rather
| limited period of usefulness on account
OF the enormous annual tonnage to be
| extracted by them.
II has been figured. for instance, that
unless the present porphyries greatly In
| crease their already tremendous ore re-
| serves, they will be all worked out in
twenty 10 thirty years. These tonnages
are great deposits of mineral whose con-
fines are almost determined definitely,
and IL is while the various companies are
realizing upon the same that the stock
holders are expected 70 receive generous
paratlvely limited life OF the producers.
Probable Ray Record.
The Ray Consolidated property may be
mentioned as an illustration, for II is the
second largest property OF its character
In the world: In the Ray AT this time
veioped and partially developed. Should
the company develop additional re-
serves. this tonnage AT the planned rate
OF extraction VIII last a llttle over tWen-
ty-siX years With an annual output of
so 000, 600 pounds OF copper and with
copper bringing Is cents per pound, the
Ray Consolidated can earn S3.600. 900, or
S2.67 n share. per annum. Hence. ac-
cording To all expectation. the company
in its twenty-siN years of life can earn
the sum OF $9S. 500 600 or S69.i2 per share.
Each advance Of copper prices of one
half cent per pound VIII Increase the
Ray Consolidated annual net earnings by
100000 per annum. or 30 cents share.
The Miami Copper company estimates
its reserves at present at $4,000, 900 tons.
This company expects 10 mine and mill
from this tonnage at the rate of 1900
tons daily. This total tonnage, therefore.
VIII last just eleven ana quarter years.
and should the company earn at the rate
OF SO per share per anDum, during Its
indicated lifetime, the company Will have
paid generous profits.
Still Developing.
At the Chino there arc IS. 900 on0 tons
of orc known at present TO exist This
company expects 10 extract and concen-
tons daily. or about 100000 tons per
annum. This indicates a life for the Chi
no Of little over twenty-siN years, and
should the company puy dividends dur
ing this period Of $3.50 per anDum a
share, on a 13-cent copper market II will
have enriched stockholders by over $50
per share.
The Chino is still developing new ore,
while the Ray Consolidated and Miami
companies have ceased 10 do so for the
time being. All Will increase the above
mentioned tonnages In time, but their
short lived in comparison with the ma
jority of vein mining propositions. But
they certainly are 10 make the fur fly
while they last.