The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1913-07-05
Statement Issued
By Prince Consolidated
The following appeared in recent
Issue OF the Salt Lake Tribune:

The following appeared in recent
Issue OF the Salt Lake Tribune:
Prince Consolidated Is maintaining
a steady output of 200 to 800 tons of
ore day. Some difficulties have
recently been encountered at this
Phoebe mine. but none of them was
reported to be serious. All OF these
obstacles have been over come and
tthe mine Is now on a good paying
basis.
"Offcers of the Prince company
say that the visible tonnage of iron
ore in the mine Is greater now than
it was year ago. when engineers
found between 1000, 900 and 100000
tons available for mining 1t is also
announced that there is 900 feet Of
unprospected ground in Prince teri.
Try between the south end Of its
workings and the Virginia-Louise
property which have found the
Prince iron bed as big and valuable
as In the older mine.
"A hard freeze in January neces-
stated the uncoyering OF the pipe
line, carrying watrr. at an expense
of $1,000. Also. the pits at Bullion
lille became waterlosged and the
weight of moisture made shipping
charges excessive. Following this
trouble was encountered in finding q
market for the iron ore. While the
International smelter accepted the ton
mage produced by one SHIFT, the guam
| tity turned over to the American did
not keep the second shift profitabiy
employed End the company met
this situation by laying the second
shift off.
Shipments to Tooele
4 The International had contracted
to treat. the tafIings from Bullionyille,
but subsequently became overstocksd
ari proposed to reduce the charges
or iron ore in return for a limitation
Il the failing shippings. An agree
nent was reached whereby the Prince
was to stop shipping tailings after
5000 tons had been delivered, until
1 March 1, 1914. Since this agreement.
5000 tons have been consigned to the
smelter, leaving 1000 tons to be
marketed within the next eight
months.
These troubles however, are
technical and do not touch the Ques-
tions raised by the public which deal
with the ore tonnage in the mine and
he net value Of that tonnage. The
: officials of the mine state positively
( that the production OF iron ore Is net
T ting the company from $l.65 to sl.7f
ton with one shift working. The
y cost of mining does not fall below "
a ton nor exceed $150, and th cos
e of handling on the Prince railroad
has been under 10 cents a ton.
a 1.-The railroad has been paid fo'
q and officials OF the company stat
tha- all other bills have been cleane
to up. A claim for $40. 900 Is in dispute
1T but the money to meet it is asai-se I
e. Since the first Of this month tn
r'nca has bey-n the accumulate
th of cash surplus above all debt
ne and liabilities. The earnings from u
M one shift will aggregate between 81
O0n and $4,000 month, or to u
~ rate Of 96 to IL cents share annu'
fs In raking this estimate the probab
III increase in earnings from the devf
opment Of sulphide ore, disclosed
drilling, was not considered. nor r
turns from tailings Of which an enc
or nous quantity remaines
ue Accumulates Surplus
The directors of the company q
as yet undecided whether the surpl
will be used as it accumulates
-. the payment of dividends or whetf
,mr, m the first profit shall be devoted
tls the development of the sulphide o
lei It has just been given out that IL
ad. body of sulphides has been demo
i strated 300 feet below the pres
I'D workings from which good gra
ali ominerals may be expected. w
ay the extensive opening of sulphi'
ne and the tailings at Bulltonville
ins Prince appears to have q splen
milling proposition.
~ IN. G. Christensen, inventor
I'm the chorination process to be used
she THE knight mill at Tintic. In exp
menting with taillngs. has recove
ned as high as 81 per cent Of the -
IN al values"