Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-09-30
Among the Gossips.

A Boston brokerage firm writes con-
cerning Bingham stocks
"utah is probably as well thought OF
as any copper stock listed in Boston
for II is known to be earning better
than 81 per share upon its 10000 shares
Of stock, and It Is reported viii pay
dividend Of 81 per share next December
AN Increase from a 81 To- 81 annual basis
Some Of the Boston interests would like
TO have the mine opened up to a greater
extent than at present although they
have no fear but what the Utah prop.
crty will continue liz present rate Of
production and profits for some years to
come. II keeps reserve OF 100000
tons Of ore opened upon which 1t places
the average value at 81 per ton. a total
value Of S700OO00, and adding 81 O0OO0O
for equipment, etc, gives actual cash
value I'm sight OF SS00OOOO, or slightly
under 20 per cent Of the selling price
OF the stock In the market
The Boston Consolidated from It's
shipment Of about 1000 tons Of ore per
month TO the Bingham shelter ~ deriv-
ing net profits OF about 100000 per
month In making these shipments II
selects It's rock so as to average 3 per
cent copper or better A considerable
portion Of Boston Consolidated stock Is
held abroad. and rs some Of It's foreign
stock is weakly held. II comes ON the
Roston market whenever the price
strengthens. This weakens the position
of the stock specuatlvely, but this for
eign stock has been gradually absorbed
here, and II will probably only be
question Of months before the manage
ment Of the property Is brought over
to the United states as was done IN the
case Of the Utah company, II took
year and half TO accomplish thls
change for the Utah company.
ANYBODY who viii examine the list
Of directors Of the United States Min
Ing company cannot fall TO be struck
by the pred0minanCe Of the manufac-
turing element We think 4 Is beyond
prediction that the United states Min
Ing company win I'm a few years be-
come chiefly manufacturing, or I'm
other words q smelling company. us
interest In mines viii continue to bc
large aud Ia ownership of certain
large mining properties Is perhaps es-
senua TO the success In It's early stages
OF the large scheme which President
Evans and his fellow directors have In
their minds
"The company is now not only mining
IN bingham and Tlntlc camps, but II
a very large smelter OF copper ores. IL
viii soon be smelling another class
of ores which are reduced IN connection
with lead ores when It's lead smelter
Is working successfully II need not SUR
prise anybody to learn that the CONF
pany ls about 10 erect further plant
or plants OF the same character at dit-
feront places The continued enlarge
ment Of this enterprise as a smelling
concern g. I'm our Judgment, likely to
he the feature OF It's history When
the reduction Of the ores from the
Mammoth mine Is once well established
II will be time TO take up another stage
of the development OF this enterprise
as manufacturing proposition. What
win then happen VIII be the establish
lng Of refining plant, With the bull
limo from lbs Utah and California
smelling plants as nucleus. the COM
pany can 70 ahead confidently In the
establishment of a refining business,
which Is "A very profitable branch.
'The development OF such an enter-
prise will require time and a patient
attitude on the part OF stockholders,
There IL no reason to doubt that divl-
bends at fair rate Of Interest upon
the par value OF the company's shares
viii be paid during the stage OF devel-
opment. The directors are confident
mat ultimately the results will be very
satisfactory TO an the shareholders that
stand by the property