The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-12-03
RR1rIIANT MINING RESULTS.

BRILLIANT MINING RESULTS,
A story of mining development winch
* splendidlv true is that Of the four
porphyry copper mines Of which MI
d, C. Jackling of this city is the oper-
ating bead We referred the other day
TO TWO OF these copper properties ana
the heavy dividends they recently de-
clared The probability is that the new
annual dividend rate OF these four cop
per properties will be about such fg-
ures as the following for the coming
year: Utah Copper, SO per snare,
which will amount TO about $4,000,
600; Nevada Consolidated, So share,
or s4,000,OOO; Chino, 81 a share, or So,
0,000; Ray, 50 share, or sS,2OO,ooO.
This estimate viii bring the total
amount to be distributed by these com
panies the coming year up to $50 AGO.
600.
When we remember that all this IS
not only new wealth but we may say
absolutely unexpected wealth, the ro-
nance Of successful mining viii ap'
pear all the more brilliant, Ten years
ago there was nothing to show that
there were any values in the ground
comprising these properties, But nine
years ago, or so, pick was first struck
in the Utah Copper, and it was eight
years ago last April when the first eN-
detrimental work at The Coppertown
plant was started. Ray and Chino
were started about five years ago 1t
was year after the Coppertowu plant
was started before the first work was
done on the Nevada Consolidated.
At the rate OF production shown by
these properties, allowing for steady
work and something for increase, the
copper made from these properties for
the year 1913 shouId be: Utah Cop
per, l50,000,000 pounds; Nevada Con-
solidatcd, 100000 pounds: Chino. Co..
000, 900 pounds; Ray Consolidated, CO.
600 600 pounds. total of 100000, 600
pounds of copper. That is the rate at
which the new year will start; but by
the end of the year 1918 Chino and Ray
will probably have increased their pro
duction 10 15,000,000 pounds each. The
increase in the other properties should
bring the total copper production oil
these mines up to rate OF 40o.oO0,U0o
pounds annually, or one-third of the l.
200, 900 900 pounds net now being pro-
duced by the entire United States, The
Utah Copper and the Nevada Consoli-
dated are. besides, getting one cent a
pound for silver and gold values in ad-
dition to the copper contents. Thus,
when the copper is Commanding 17@l
cents, they get about 1Sl& cents Il
pound. Estimating this on n 100000
00o-pound basis, the gross return viii
be S74,000,000 a year. The amount
paid out for labor viii be equal to the
amount of the dividends.
Surely here is tremendous showing
for properties that only decade ago
were non-existent, The ground was
| there. 10 be sure, and the copper was
there. but nobody knew anything about
the deposits. It took keen insight,
nerve. skill, and a good deal Of money,
to make these great developments; but
once made, how magnificent they are,
and what a mighty victory over the
sere face of the desert these figures
proclaim, The face Of nature has com
monty In this region a forbidding as
pect, but what tremendous riches lie
concealed under the furrowed slopes OF
the mighty hills, and what splendid re-
turns to those who have the nerve and
the power TO challenge the frowuine
face Of the mountains, are the rewards
OF the energy and the skill which pen
citrate the disguise and bring to light
and 10 human use the wealth which
has lain hidden under this forbidding
aspect through all the aeons of time!