Bisbee daily review., 1907-01-20
UTAH CONSOLIDATED LOOKS LIKE
 ATTRACTIVE INVESTMENT TO WALKER

aerial tramway, and used for all pow. CT purposes and lighting the mine. It Is believed that these increased conyeniences for handkng ote and bullion at the shelter and the econo. mics resulting from treating a much larger tonnage would reduce operat. ing costs at least $1 per ton of ore As the new smelter will probably treat l,5O0 tons of ore daily, or over 500, ,O0C tons annually, and will cost about $l,5O0,O 900, the company should be able to save the investment during the first three years of its operations The litigation, the unfavorable court decision, the fear that the smelteS ! would be obliged to suspend opera tions, and the uncertainty as to the cost of moving" its reduction plant 1 have been responsible for the de, pression in the price of Utah Consoli dated stock. When it Is realized, however, that it will be greatly to the company's advantage to build an en- tFrely new plant and abandon the old one, investment demand for the stock
 will undoubtedly force the price SIG to $25 above present quotations.
 The history of the Utah Consoli. dated's mine is most interesting. Be tween the years 1870 and 1890 the property was a considerable producer of high grade silver-lead ores. The outcrop, or gossan, of its largest cop per ore bodies contained 8 to $5 per ton in gold, and in 1896 the Highland Boy Gold Mining company was organ lzed to work these croppings for gold by the cyanide process. The price for the property was only s150.00O.
 The wonderful Fessurcerulness of the Utah Consolidated property is shown by the fact that since the date mentioned the company has produced about 75,0OO, 900 pounds of copper and earned nearly s10,o00,00O in net prof it's. Including the disbursement which will be made next Tuesday. it has paid $6,642,000 in dividends and is carrying cash surplus amounting to S2,OOO 900 or more in its treasury. Its 100000 shares of stock were issued at $5 per share, making the total amount paid in by stockholders only I,500,000, and the stock never has been assessed and the company has no bonded or other indebtedness.
 East Butte has emerged from the leasing system and has begun operat- ing its mines on it's own account. The company began hoisting ore from the 4OO-foot level of its No. 1 shaft on Monday. Its shaft is already below the 60O-foot level, where a station is now being cut, and from which a cross cut will be extended immediately.
 While the area of demonstrated mineral values owned by this company Is comparatively small, it's several ore bodies, or veins, are exceedingly rich and the company will earn a great deal of money during the coming two or three years, if copper remains at about it's present level. The high grade character of it's ore should en- able the company to produce its copper at very low cost and to earn divi. dends even on a 12-cent metal market. It is understood that the company has excellent mining management. and it is well known fact that its financial backing is of the best Those who are largely interested in the stock believe 1t will be worth between S25 and $40 per share one or two years hence.
 North Butte continues to be the speculative favorite of the Cole-Ryan group of stocks. The company has been for some time extending a cross cut north from the deep levels of it's uedo ol ST qoIqA 10 1oslqo sql 'suIm and explore several claims lying to the northeast of it's Jessie property These claims were purchased by the North Butte company within year and paid for out of operating profits.
 The crosscut has encountered ai- ready three or four previously unde- veloped veins, one of which Is said to be 20 feet wide and of the same high grade character as the veins worked in the Edith May and Jessie claims. The management has under consideration the sinking of another three-compartment shaft | which will enable it to double it's present production. Those in a po- sition to judge intelhgently express the belief that North Butte stock will | ultimately be worth over s200 per share.
 GEO. L. WALKER.