MINEBK00202

• County: San Juan
• Document: Manager
• Suffix: A

4a
_________ _ v ~ ~ .~ I.
- ~ -`----- IOWA GOLD MINING AND M-'ILLING COMAANV. ~~ ~~~
--- -- - - --- _- _ IRines anp iltfll pear 5ilo¢rtoa, San Juan Qounry, Eolorapo.
__,____.---`- OFFICERS. OFFICER:
-- IBEB, - - PBEgIDENT. 301 PCOFLC6 BANN Bu LLOlnc, DENYCq, 1
NG, - WCC PgcemcrtF.
' - __ BIN, TNUS. PNO &CN'L MOB, nxe _Ii
SEOg4AgY, BILVMTON, GOLOB/.oo. u
LYE - ,t.
-<rU!/ILfs~,-_ 1.
$ILVERTON, COLORADO, Augllst II, 1896.
------_-____ To the Stockholders of the Iowa Godd Minzizg and dlz'Lling Com¢any:
----------- As manager of your company Z desire to inform you as to what has been accomplished
since the organization of the company, and also to give you an idea of what can be reason-
ably expected for the ensuing year. The first and most important item is the value of the
crude ore shipped from the mine; second, the percentage of same saved.
~~~~y The following figures, taken from the books, give actual results:
Crude ore shipped from Dec. I, 1895, to Aug. 3, x896._-.-_____7,y65 tons
------------ Value of same, per tvn ------------------------------~---------mi6.oo
Total net tons of concentrates produced from same_--_______I,71o tons
Total receipts from sale of concentrates and gold from plates___$97,5+7.00
---- ------- Average value of concentrates, per ton____-_____.__ -- 57.04
____-- Average va]ue saved from crude ore, per ton__________________ Iz.56
----------- 1VIILL.
The mill, during a large portion of the time when ihi; cre *.~~~ rnn, was very incom-
------------ plete, and consequently the loss was heavy. As experience was gained in milling this par-
ticular kind of .ore better results were obtained, so that at the present time the loss is very
much less; it is, however, very near twenty per cent. The management has entered mto a
--------- contract with Mr. J. C. King, (patentee of the King separator}, to erect a plant for saving
the values contained in the tailings. This plant will be in operation in thirty days, and it
is expected to save not less than $z per ton from the tailings heretofore lost. Mr. King, for
-- -- his services in running the plant and for his patent, is to receive twenty-five per cent. of
- - _ _ _ - . _ -_ net amount saved, the company to receive the remaining seventy-five per cent.
___ __ Sittce the organization of the eotnpany some $IO,ooo was expended in new machinery
for the mill to increase its capacity from thirty-five tons to sixty-five tons per diem, as out-
---- - lined in the prospectus issued by the company. After this machinery was all in place it
rte.