Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-01-18
BONDS WERE AUTHORIZED.
Action OF the Dsly Judge Directors on
Saturday Afternoon.

As was stated that they probably
would do. the directors OF the DAILY
Judge on Saturday afternoon author
ICED the Issue Of 100000 worth OF gold
bonds. the sale OF which Is for the pur-
pose OF raising funds with which 10 car
ny on further development.
In an address issued to the stock
holders, the following was contained:
Interest on the bonds will be paid
quarterly, and, under the stipulations
therein contained they may be called
I'm for redemption at the expiration OF
any interest bearing period. They will
be issued I'm denominations OF 81 900,
and may be subscribed for and issued
at any time, so long as their sale Is
found necessary. II ~ the purpose of
the company TO issue these bonds only
as funds are needed. and 1t IL not
thought that II will ever be necessary
TO sell the entire amount authorized,
while II IL hoped that Il comparatively
small proportion of the total VIII be
found ample for all requirements.
THE management VIII at once be-
gin the exploration and development OF
that portion OF the company's holdings
in which It is convinced that the best
and richest ore bodies will be found.
The length of time and money neees-
sary TO carry out these plans cannot
be stated with any degree of certainty,
but substantial results are looked for
by or before the close OF the present
year.
as a matter OF sound business pol
icy the mill will be practically closed
down at once. There is exposed In the
mine at the present time a large tom
mage of ore estimated by Manager
Dunyon at 10000 tons), carrying sur
ficlent values In silver, lead ana lead
zine that, II they could be separated
and saved with Its present output
would make the property n good divi-
dend-earning proposition; but as GER
tain percentage of loss occurs IN the
tallIngs which the management Ia con-
WINGED can be recovered, and rs an
other loss occurs through the values IN
silver and lead that now go into ne
zine middlngs, II seems too much ike
dlslpating the company's resources 10
allow IL to continue, Mil Superlntend-
ent Sherman, who has made great I'M
proyements since assuming charge OF
The mill and who Is still doing good
work for the company, viii continue
TO make tests 10 determine the pest
methods OF correcting these leakages,
and 40 far advanced are these expert
monts that II can be stated as almost
"A certainty that the problem VIII, be-
fore many months, be solved. The
should be viewed by the stockholders
closing down Of the MIL, therefore,
as matter Of economy, entirely ana
not In the light Of a confession on the
part Of the management that the plant
cannot be made to pay, for such IL not
the case. Gauged by the work done az
similar plants on other properties, the
mill In doing first rate az il'is' earning
n small sum monthly but II Is being
done at the sacrifice OF what amounts
10 a very large sum In the course OK
A month and year. and II Is to correct
this drainage and waste and convert
IL into money for the shareholders that
the decision has been reached 10 Keep
IN. ore in the mine temporarily, or
until such time as the highest percent
age of its value can be recovered ~
should not take many months TO- SET,
lie this problem, and then the mill VIII
again be operated at capacity The
losses now being made VIII many times
over nav tho interest on the bonds TO
no issued. so the shareholder VIII reap
the benefit of the policy being pur'
sued" -
THOSE delicious Newhall Oranges
again in market. ASK for Them None
better,