New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1905-09-17

ExSWaV
have good news for investors to-day and
want them to read it and then share in 1t.
The news 1 have for you concerns the Doug
las Copper Company, owners of the Anita Cop
per Mines in Cocorit. State of Sonora. Mexico
of which I sole financial agent.
It is to the effect that a carload shipment OF
twenty tons of ore of the Douglas Copper Com
pany has been turned out from the smelter ana
proved to be richer by than three times
than that of any copper mine in the United
States Mexico.
I have been saying all along that during the
next few years more good news would be printed
about the Douglas Copper Company than any
other copper company in the country. 1 made
this statement with the facts in hand to back II
up, but 1 tell you here and now that 1 was not
prepared for any such state Of affairs as thls'
and I am as much astonished as you are to find
that the value of the of the Douglas Copper
Company, ton for ton. in it's raw state, exceeds
by more than three times that of even the great
est copper bonanzas.
Below I append the statement furnished the
Douglas Copper Company July II 1905, by the
Consolidated Kansas City Smelling & Refining
Company of FL Paso. Texas:
Car Number 1889 Southern Pacific.
Weight dry, 1926 lbs. 2oe63 tons
Average gold per ton As at s19.....-...S a.55
Average silver per ton 7.s OF. at 50 per cent
at 53zsc. 4'4%
AVERAGE copper per ton 222 per cent at 90
per cent 1895 Ibs.) at II s-16c ..-......- 1920
Average iron per ton 81 per cent at &c.. 40
Gu. credit 1872 per cent at 1oc per unit 1872
Average values recovered per ton. ....... 61.49
Think about what these figures really mean!
The great Calumet & Hecla mine, one of the
worlds richest, which has paid stockholders
over SS5OOOO00 in dividends and enabled some
Of our most aristocratic old families to lead
lives of luxury for the past 20 years. gets out
Just 10 pounds of refined copper to the ton OF
ore, worth, at present prices. a little over So-OO
and no gold and silver. Douglas gets out $500
pounds, worth S462O-nine times the value VI
Calumet & Hecla.
Here is list of mines. every one of which
has name to conjure with in the copper world
Compare them all with the Douglas:
Anaconda turns out $10.95 worth of copper
to the ton-one-fourth the value of Douglas
Tamarack produces 1913 pounds OF copper to
the ton-One-seventeenth of the value OF Doug
las.
Osceola produces 1877 pounds-21 to 1 in favor
of Douglas.
Greene's ConsoIfdated's yield is IS per cent;
Utah Consolidated, 35 per cent. and Tri-Moun-
tain per cent. These are respectively one-thlrd.
One-SXth and one-tW enty-Second OF DouBIdS
marvellous showing.
The value of the Douglas by-products is also
cOrreSpOndingly large, gold panIlnS out 10 the
ton $3.50. silver S4.42, etc.
The statement of the extraordinary average
made by the ores Of the Douglas Copper Com
pany is a matter Of fact and record. and can be
easily confirmed Almost exceeding belief a it
is too, there many reasons to predict that
the record given above-the highest SO far as
know, in the whole history OF the worlds cop
per mining-will be fully sustained, II not sur
passed, by the future production of the Douglas
mines. In a recent letter from Mr. Theodore
Douglas, the president Of the corporation. to
Mr.. Melbert B. Cary the vice-president, he says
that in eight-foot ledge of ore 81 ounces of
gold to the ton were found, worth $661 Forty
per cent of iron has also been encountered. as
well as still richer yields of silver
selling the issue of 100000 Of the first
mortgage, per cent. convertible gold bonds Of
the Douglas Copper Company.
The first allotment Of $4,000 was subscribed
for within fifteen days at no. and the fact was
written up extensively by the press OF New
York. Philadelphia and New England
1 am closing out the second allotment, to the
amount Of 100000 of these convertible 6 per
cent gold bonds at 112 fiat, permitting the sub
scribers to forward one-fourth Of the amount
with the order and the remainder in three equal
monthly instalIments until full payment is made
Those who remit the full payment with the
order will be given special discount of per
cent.
The bonds are in three denominations: 500
bond, costing SIP $500 bond, costing $500. and
$1,000 bond, 81 100
feel constrained to warn investors that in
view of the great demand that has been created
for these bonds since the smelter report
made Indicating the extraordinary richness Of
the ore Oh the douglas copper company, the
present allotment at 112 cannot possibly last
much longer. and that after that the price for
the third allotment will be advanced 1 cannot
even give the assurance that another public an
noUncement will be made offering these bonds
at this price.
The fact that the stock of the company par
value So a share is selling on the New York
curb high 81 a share or a premium OF
40 per cent certainly fixes the price limit of the
bonds at a much higher figure than l am now
asking for them, and must be accepted as posi-
tive evidence that an selling them below their
market value compared with the prevailing
price of the stock
When you buy the bonds you buy in effect
the stock, for every bond carries with IL the
valuable convertible privilege of being exchanged
at any time during the year 1906 dollar for
dollar for stock at the par value Of So a share
Your 500 bond is good for 20 shares; your $500
bond for 100 shares, and your $1,000 bond for
200 shares.
capitalization of only 100000 at which
amount it has been permanently fixed II has
approximately 81, 900 900 worth of ore blocked
out for its new smelter now being built In the
plant. lands and already available ores for re-
duction purposes-upon all of which bondhold-
erS mold a first mortga get has a security that
exceeds the bond issue several times over and
more than equals the bond issue and the COM
pany's capitalization combined. 1t is security
that puts to shame many of the so-calIed gilt
edge" securities of the country
The money realized from the issue OF bonds Ia
now being applied to the construction of the
smeIter at the company's mines for treating Its
ores and converting them into commercial
values. This smelter completed will have a
capacity OF IOOO tons a day. which at the value
OF the ore treated by the Ell Paso smelter would