The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1914-05-14

district with the county assessor al
ford some interesting facts for those
who care to analyZe the figures. They
also show that as rule the mines of
the district are operating on much
narrower margin of profit per ton of
ore handled than is generally magin-
ed from the report of dividends. Since
the first of the year the price of lead
has been as low as $3.50 and is now
$500, nearly so cents below the aver
age price for 1913 Unfortunately the
system of accounting in these reports
is not uniform, and it is therefore i'm
possible to make close comparisons OF
the several divisions of operating ex-
penses.
Hercules Has Best Contract.
The position secured during the year
by the Hercules shows to what extent
the item of freight and treatment
enters into the profits of the Occur
dAlene mines. Assuming that the
Hercules received an average Of $437
per 100 pounds of lead during the full
year, Quotation of the Engineering 4
Mining Journal Of New YORK;, it re-
ceived no less than $177,95776 in ex-
cess of settlement payments to any
competitor in the country, assuming
that the average tenor of ore has been
As per cent lead. Added to it's Won
derful shipment record, it's high val
tnl 20 f{e
new mill, this advantage has enabled
y to take first rank among shippers
OF the district.
Both the Hercules and Tamarack &
amount of ore actually shipped to the
smelters, while the other important
operating companies base statements
upon crude ore as taken from the
mine Without the exact ratio of con-
centration 1t is therefore impossible to
obtain some figures of comparison.
The Hercules Report.
Analysis of the Hercules figures
shows that the gross value per tor
during the entire year has averaged
no less than $69.74. Extraction works
out at 1859; transportation at 1884;
and reduction at 1888. With the
knowledge that freight and treatment
charges Of the American Smelling &
Refining company are $14 per ton, II
is also ascertained that the cost OF
milling during the year has been $5.37
though this item probably contains al.
loWance for management, transporta.
tion to mill and other incidental ex.
penses, thus bringing actual milling
cost down to a very creditable figure
The net profit works out at $339S pei
ton, from which must be deducted
$4.39 per ton for betterments, leaving
net available for distribution $2S.59
This is a record which may safely be
said to have been attained by no 9th.
er mine in the Occur d'Alene district
Tanarack e. Custer.
Analysis of the Tamarack & Custer
figures shows a gross value per ton O
$44.S4. Cost of milling and extraction
has been $21.20 and of transportation
and reduction $14. Betterments hav,
cost $4.7S per ton, leaving an available
net profit Of $4.S6 per ton. The Tam
arack & Custer is believed to be ship
ping under provisions of the old Her
cules contract, which was transferred
to 1t when the latter contract was vol
unfairly replaced by the new contrac
dated August, 1912. If such be th'
case, the Tamarack & Custer receives
settlement for 80 per cent of lead IL
its ores at the full New York price
less an arbitrary deduction of so cent
per 100 pounds. This contract, in &C
tual practice, works out very closel.
with that of the Federal Mining (
Smelling company which only re
ceives for 80 per cent of the lead in it
ores, or 80 per cent of the New Yorl
price so long as that price is at SAL
or less. plus half of the difference be
tween the New York market and SAL
when the market is above the latte
figure.
If the tenor of Tamarack G. Custe
ore was As per cent lead, the contrac
under which 1t is shipping made a diff
ference of at least 54 cents per 10
pounds of lead, Cor approximately $4.3
per ton Of ore, shines or concentrate
shippedD, in comparison with price
received by the Hercules. Under sue
contract as that of the Hercules, tn
Tamarack & Custer would have mad
per ton profit of at least 50, instea
of $4.S6, as indicated above.
The Morning.
The gross value Of crude ore mine
by the Morning during 1913 was ap
proximately 1921 per ton, while ex
traction cost 1921 and Transportation
and reduction $2.1S per ton, leavin
an indicated net profit of 80 cents pe
ton. These results were obtaine
with lead at an average of $4.37 dur
Ing the year. Under the Federal con
tract the Morning only received, how
ever. $685., a difference Of 54 cent
per 100 pounds In 1914 lead has re