Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1906-10-13
Over One Hundred Thousand
Shares Of Common and Pre-.
ferred TO be Sold.
4 CIRCULAR JUST OUT.
Contains a Financial Statenient--En-
largcment Of Smelling and
Refining Plants.


states Smelling. Refining 4 Mining
company have received circular from
the executive offices of that corporation
IN which they are Informed that the
directors have decided to sell l0O.l3e
shares Of stock. the same to go onto
the market dividend equally between
N" mmon AMI referred.
All lie stock niiart be subscribe ! Cor
brinre the 2G,h inst. and subscriptions
nilat be ;Gade tor at least one share Of
con non ami one share Of preferred:
that Is. subscribers must buy both
preferred share and a common share.
total par value 800, and are not per-
mitted to subscribe simply for one kind
" share or the other,
Subscribers who pay IN fun will be
allowed interest at the rate OF per
cent per arnum upon the prepaid in
stalments, from the date OF payment
20 the due date OF the respective In
stalments
stock paid for IN fun on or before
Noyem Der 20, 1905. will be entitled to
the January dividend.
w Fdnts for subscription viii be
maileD Immediately after the close OF
business, Oct. q, 1906, 10 common share
holders OF record at that time.
subscriptions properly witnessed
must he made on the form provided for
that purpose upon the back OF each
warrant, and must be delivered to the
City Trust company on or before Oct
%, 1906, as the right to subscribe ter
inmates on that date.
No fractions of shares will be issued.
subscriptions under holdings that
are not multlples OF six shares must be
adjusted by the purchase or sale OF
warrants. Sellers Of warrants should
not subscribe hereunder. The company
viii not buy or sell warrants. SUBJ
scrlptlons based upon assignments must
be accompanied by the assignments.
Stock VIII be issued IN such names
as subscribers may request, except In
the case OF executors, administrators or
trustees, when, unless proper authority
he submitted, the new certificates VIII
be Issued In the same title as that of
common stock already held.
THE present outstanding capital
stock OF your company Is as follows
49,, i59 shares preferred stock.
800, i05 shares common stock.
Upon the completion OF the above
sale there Will be outstanding:
i69,527 shares preferred stock.
$50, 473 shares common stock.
Leaving In the treasury:
ESQ, 4I3 shares preferred stock.
$685. shares common stock.
There hav been expended since JAM
uary |, 1906, In the purchase OF interests
In new properties. In the purchase OF
additional shares OF stock In properties
In which your company and It's IN bor-
dinate companies were already inter-
ested and In the additions to these
various properties. the sum OF approx
mately a,5O0.000, all Of which Is proper
ly chargeable to capital account. The
value Of the supplies and metals in the
bullion on hand and ore at the smelt-
ers Is approximately s6000.G00. Your d.
rectors have appropriated for extern
slons and additions TO the properties
under their control the further sum
OF 81 ,557 900, and they believe It wise to
expend at least sl250.0DO In addition
thereto.
THE enlargement of the plants at
the refinery and at the shelters will
permit larger output, but will also
necessltate the carriage of much larg-
err amount Of metals In bullion and
ores. Your directors believe that II IL
wise for your company itself to carry
these metals between the time Of pur-
chase or extraction from the mines
and the time of sale of the finished
product. rather than to borrow money
thereon.
THE net earnings of this company
and its subsidiary companies for the
six months ending Aug. 81, 1905, are
estimated by your treasurer at Si759,-
600. The exact figures can only be
given after the final payment for cop
per, silver and lead products.
The managing director, Mr.. Holden,
reports thnt more ore Is being devel-
oped In the United States mines at
Bingham, In the Centennial Eureka
mine at Tintic and In the Mammoth
mine In California, than Ii being ex-
traCted The Richmond Eureka mine
has begun production, but several
months must elapse before any sub
stantlal amount or ore can be shipped
therefrom. Development Is progress
ing satisfactorily both at this mine and
at the Real del Monte mines In Mexico,
but the mills at the latter mines will
probably not be ready for operation be-
fore next summer. The lead smelter In
| Utah has been doubled In size and
should be ready for full operation be-
fore the ist OF January. 1907.
| Needed additions are being made
to the converting plant at the
| copper smelter in Utah, which, how
| ever, will not be completed before
| next summer. Additions are also be-
ing made at the Mammoth smelter at
| Kennett but these win not be completed
1 before next summer. The lead refinery
| near Chicago should begin operations
| in the near future, and the additions
TO the copper refinery IN New JET sey
are well along toward completion. The
Improvements IN your mines and the
Increases Of custom ores in the market
will probably require in the future fur
Their additions"