The Goldfield news. [volume] (Goldfield, Nev.) 1904-1911, 1907-06-01
THAT CONSOLIDATED DIVIDEND

The criticism directed at the officers Of the Godfed Consolidated Mines
company because they refuse to pay a dividend at this time Is lot in the inter
estso Of Godfed. In fact it is much to the injury of the camp, and dedgnedly sa
The position taken ny the directorate If tn Consolidated Mines company is
in the interests Of good mining and good business, and will eventually be of vast
benefit 70 GoIdded.
The criticism Of the Consolidated officers does not come from the stockholders
of the company No on has heard any loud demand for a dividend from that
quarter; but it comes from the stock brokers. the two bit scapGs and the curb
stone whippersnappes who claim that general stock trading has zen hurt by the
refusal OF the Consolidated to pay a dividend. That is tn animus OF the whole
matter. The twobit broker and frenied promoter take the position that the
market; that a dividend should be paid and the stock vi u o help the brokers
ret rid If their cheap junk which seems now to " smothered under an avalanche
If millions and billions of worthless shares.
The primary business OF a mining camp is to make mines and not to grind
Immensely profitable mine for its stockholders, while the stock brokers and trad
es are deluging the country with promotions. many of them Of questionable merit
and If this market lis dull and nsless it is because these sefsame promoters, now
loudest in their denunciaton Of the Consolidated for not paying dividends, have
These are the people who are running the stock market, and it comes with bad
grace for some who have never stuck a pick in the ground latter selling thousands
of dollars wortho Of stock, to jump upon a mine management for not coming to the
markets aid by paying dividends.
enough money in the treasury to pay a dividend upon its great capitalization,
and that even with its unprepaedness % extract ore to the best advantage, it
could take nut enough right along to continue dividends FOR some time. But the
management finds that it can saw perhaps a million dollars or more per year to
OF Inland Ito both build a mill and pay a dividend. Should it pay a dividend now,
it would have to forgo the mill; should it build a mill it must forgo a dividend
The company has wisay determined to build a mill FIRST before beginning dvi
dends; and when the dividends are nee commenced, they can be declared unn
terruptedly for IL time to con I would be better policy for the company and
mmensel more beneficial to III market to defer the paying OF the first dividend
now. than to pass up a dividend an max a break In the series, later. Forced
dividends has been tn bae II the mining business for all time We have in mind
a stockholder who adverti@ to this day. that he paid the first dividend everp paid
should have beenu used in developing the mine, wasp paid out in a dividend, and the
mine AM the broker both went broke and the stockholders lost their money. This
was mining sch al the crowd would have the Consolidated do, but It is not the
right kind of mining It is mining the public and not TIT mine
So far IS TIE News is concerned, 1t feels that the directorate Of the Conson-
Mines company is fully equal to managing its " affairs without our ad-
vice. At any ratet they viii have to struggle along without it,