Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-01-30
BOSTON CONSOLIDATED
Late Weakness Attributed to Selling
by Speculative Holders.

By speculative Holders.
The financial editor of one of the
big Boston papers, in commenting OH
Boston Consolidated. says:
Its apparent weakness of late has
been due TO selling by speculative hold
ers who desired to shift their operations
to more active stocks. II has been
bought by inside interests, and also
for foreign account While British
holders of other American stocks have
been persistent sellers, there has been
very good market in London for
Boston Consolidated. A broker who
tried to buy Boston Consolidated in
London found that a higher price was
bid there than here. 1t is understood
that there were orders TO buy tens OF
thousands of shares around 29is and 20.
notwithstanding the recent difficult
ties at the new Garfield smelter Bos-
ton Consolidated has increased it's ship
ments OF smelling ores from $50 tons
TO 500 tons per day. 1t has made new
arrangement with Bingham Consolidat-
ed, and part &C it's present shipments
go TO that company's plant. while the
remainder go to the Garfield smelter.
This is giving the company splendid
share OF the prosperity arising from the
25-cent copper market and enabling il
to pay a considerable portion of its
extensive development and equipment
expenses with operating profits.
The work of stripping the porphyry
ore deposit on the Boston Consolidated
property is progressing very rapidly.
A large area has been stripped bare
and the work OF mining with steam
shovel can be begun on an extensive
scale as soon as the company's new mill
is completed, which will be about four
or five months hence. Before the end
Of this year the Boston Consolidated
company should be earning substantial
4 \ -~Sf
year disbursements to stockholders
should begin.
THE mining men who are disposed
to doubt many of the enthusiastic
statements which have been made con-
corning the Boston Consolidated's
value. admit that the company will be
able to show net earnings of 81. 80 to 20
per ton on the handling and treat
ment of its porphyry. 1t is conserva-
lively estimated that there are 12bOO0.-
900 tons of this ore in the company's
property which will yield an average
of 20 pounds of copper and 30 cents
per ton In gold, giving the ore value,
on a 20-cent copper market, of 80 30
per ton. There is good basis for the
estimate that the total operating costs.
including mining by steam shovel.
transportation. milling. smelling of
concentrates, management and refining
and selling OF the product. viii not ex-
coed 81 per ton OF ore. II these es-
Inmates be extended 81 on the operating
end and reduced 81 on the other end,
however. there still remains probable
profit of 81 so per ton of ore. or total
OF SlS7 100000 as probable gross profits.
an amount almost twice as great as the
aggregate dividends so far disbursed
by Calumet & Hecla,
IF the Boston Consolidated and Utah
Copper companies fall TO make. two of
the greatest mines In the world. as
measured by former standards, num-
Der OF the best mining engineers and
concentrating and milling specialists
In this country will have great deal
to explain. Their ground has been
opened UP and sampled, and expert
mental mills erected and operated: and
the only result OF tests has been to in
crease the estimates OF probable prof
its"