The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-08-03
SNOWSTORM ENDS
VERY HAPPY YEAR
Over One Hundred and Forty
Thousand Dollars Earned
by Company.
MILL Is IN OPERATION
Company Prepared to Drive
to Any Depth to Get
Fsulted Ore.
MILL is IN OPERATION
srec.al To The Tribune.

Special 10 The Tribune.
WALLACE. idaho. Aug. 2.-The annual
meeting OF the Snowstorm stockholders
has been held at the company's Office
IN MulIan. The annual report, prepared
by Manager Leo Greenough was re-
ce!ve6 with commentator for the mana
gc. The repor, shows that 30l7 tons
Of concentrates. containing l.2SS, aol
pounds Of copper and s3,li2 ounces Of
silver were marketed. and that 1887
tons OF crude ore, containing 3,2S2,553
pounds Of copper and 2S@.6 .652 ounces Of
silver. were shipped direct 10 the smell
er The slime contents were 5G,65l
pounds of copper and 3li2 ounces Of
silver.
The work done comprised t55 feet OF
raising connecting the No. and No.
tunnels: Ia feet OF shaft work below
the No leyel; i29 feet of drifting on
the No. ! level and 2l9 feet OF cross
cutting between the No. and No.
levels. This work was accomplished al
unit oil the mill and sundry small sur
face buildings cost the company 500.
956.Og. Total receipts from ore sales
amounted 10 $500.s6l-l5 operating eX-
peuses. SOS .063. 50. betterments and sun
dry expenses $S6.s2i.0S. Net earnings,
il.539Sl. The report shows thai IL
costs the Snowstorm company lI.I3o
cents per pound 70 produce its copper
Present Mill Capacity.
Az The present time the mill is hand
ling 1000 tons per month with an. ex-
traction OF about so per cent. which,
according to the report is larger
return than II the ore were shipped
crude. The company is now sinking q
shaft below the No. level, east Of the
fs Ilt. In an effort 70 pick up the cut
of ore body. II IS intended 70 cross.
cut from this shaft about 200 feet. and
the expectation Is that the faulted ore
body VIII be encountered within 500 feet
OF sinking. although II is planned TO eH5
tend the work 10 the loo0~ioot level II
The trials and setbaclls OF the Black
Horse Mining company Will be discussed
az meeting OF the stockholders 10 be !
be held here August 20 II the company
Is 10 be saved from receiyership, the
stockholders viii have 10 provide funds
70 lGuidste it's Indebtedness, according !
10 q statement sent out by the secre-
liabilities OF the company We're reduced
5000. but there is stIll d balance on
the wrong side Of the ledger OF S36. 257.
The mill has been closed down since |
early last January. and foreclosure pro-
ceed'ngs were instituted by A j. Brick |
en-, president OF the company. 10 recover
money advanced the company by HIM.
The co:npany's balance sheet OF July
]. 1913. shows current assets 20 be s156S
and liabilities 20 be $50. .257, while the
total assets OF the company are listed
at sl.l9s.270, which includes mine. mill |
and other equipment
The Gold Hunter company, opera ting
near Mulan, has purchased twenty
drIll compressor OF ihe Norberg make, 10 |
be driven by a $50 horsepower motor
and the new equipment will be installed |
a. soon rs Il IS delivered Within the
month The management will install
new skip hoist Of large capacity and an |
electric haulase system. surveys for the
uansportatl tlor lines In the mine and mill
yards having been completed. Work also
has been commenced on the spur from
the Northern Pacific railway tracks to
the portal of the lower tunnel. which
VIII oov!ate the second handling OF tim
bers Tor the mine and Will provide ad-
ditonal waste dumping ground