New-York tribune., 1908-06-21
NOTES OF THE MINES.

mining man who is firm believer in good
mines as Investments says; The attractfveness
Of good mining investments. especially in times
Of business depression compared with railroad
,,a ;-dne-rial securities, has never been demon
e+rated more forcibly than during the recent
rnercial stagnation. There is scarcely proml-
mont industrial corporation, with the single ex-
cention Of United States Steel, that has not been
compelled TO cut its dividend because OF the
heavy falling off IN earnings Many Of the equip
,,ent conpanfes because of the complete suspen-
sion Of orders for and locomotives nave
either reduced their dividends or cut them OF
sl,ogether over twenty railroads have up to
date passed from the dividend paying to the non
dividend having list On Wednesday last the
ske Erie & Western and the Big Four which
had paid reduced dividends in January con-
fessed their inability to continue payments 10
stock kbolders until earnings began to show radi-
cal Improvement Even railroad honC holders in
several instances absolutely shut off from re-
-rrrs on their investments by receivershps. In
striking contrast to these conditions is the show
ing made by the prominent mining companies Of
the Cobalt silver camp, in Canada Three years
ago there were only or two dividend payers
IN the camp: there are eleven. and the an
nouncement expected during the summer Of divi-
dends on Cobalt Central stock. of the young
est and most promising properties In the camp,
will make the list round dozen Fully half Of
The list have entered the dividend paying class
during the last six months and several of the
old dividend payers have during that period
largely increased their returns to stockholders"
telegram was received last week at the Offices
Of the TrI-Bullion Smelling and Development
Con,nanv of this city from Samuel ". Traylor.
General manager. who is at the Kelly mines.
to the effect that he expected to start the mill
on Thursday. He also says that the development
work on the Kelly mine has disclosed fine ore on
t,rosscut No l. between the Traylor and Paschal
shafts This shows. according to President Pas
cbal that the ore been reached 250 feet
nearer than II had been expected the main body
Uould he encountered. and that therefore the
ore body IS OF even greater extent than II was
sr,nosed 10 he The financial condition of the
companv the management states, is excellent,
with sufficient funds hand to pay every obli-
cation and leave good working balance besides.
Nipissing has between $1,200,o0O and S1,3OO,0Oo
in cash and refined silver on hand, according 10
an officer Of the company This is enough to pay
di,-jdends for . long time TO come. SO far the
,ounauv has paid out $500 900 in dividends. The
corpany is being run as economically as possible
ut1nout -opping active prosecution Of developing
aa mining Prospecting Is n feature Of the
>.,,,iee,,g nlanaF Fernent's plans, and ninety men
= Lert hard ~ Work, and 50 far their efforts
~. proycd successful in locating veins
I.bo,,qh 20 per cent Of Nipissing's property has
- r,rosrected When the La Rose Company
- the %iplssing working actively they will
-,roduce at least as per cent Of the high 6 rail-
. ,I,a1 goes out of Cobalt The reason thu t
49,. ,.,,4pe Of tic n pi sing is lower than sev-
. ..f r1e other pIopeitie- Is because its ore
- .er,. mzl IN most cases. showing 1000
80 "a the -on, While other properties show
from 80 80 ounces to the 10"