Daily Kennebec journal., 1908-07-11

of lcad-silver; the highest value above
$4,000 a ton at the present price of
lead-silver. The average values show
about $500 a ton.
To get our ores to the railroad they
have to be hauled 1215 miles over g
good automobile road. The cost OF
hauling the ore with the Company S
own teams is fraction less than
500 per ton, by contract, little less
than $500 per ton. The cost of min
iEg the ore averages s1.25 per ton.
The company has at the present time
az proXimately 10000 tons of milling ore
on the dumps.
The two properties combined consist
Of twenty claims, and are equipped
with Miners Houses, two Boarding
Houses. Stables. Office. StorehouSe,
well supplied, Blacksmith Shops, Ore
Cars, Tracks. Air CompressorS, Ore
Wagons. Horses, Miners Tools, Steam
Saw Mill. Powder Houses. and the 30
ton Mill about to be replaced by a new
10o-ton Mill. The Company owns its
own water-right that at present has
1o5 horse power. sufficient power to
run 20oton Mill. This water power
can. if necessary be developed into
more than 225 horse power.
The properties carry on them fully
5.000000 feet of splendid timber. A
very large per cent of the timber will
measure 3 feet in diameter
CAPITALIZATION.
The Company is capitalized for only
$5No,ooo, par value of shares. One Dol
lar each. No promotion stock. No
Wat"red capitalization No stock
given for property. No stock given
for services. The stock that is issued
is sold for cash. and the cash is paid
INTO the Treasury. Thus it is that
tn" Boston-Idaho Mining Company has
attained its present success.
When the new 1OO-ton mill is in
stalled and tramways constructed from
The workings to the mill, doing away
with the present system of team haul
ing, the entire plant will then he com
plete These new Improvements will
be completed by early fall. The COM
pany VIII then have outstanding not
moro than $4,000 shares Of it's capital
stock. There will he left in it's Treas
uTy fully 125,OC0 shares. The Company
has never allowed any debts to ac
cruc. It's bills are paid promptIv on
the 10th of each month. and its credit
stands second to none. The new mill
and trans will be paid for spot cash
inc Company accepting the benefits oI
cash payments.
The affairs of EoSton-Idaho Mining
Company are conducted on thorough
business principles, such as a success
~ business house would conduct its
business.
IL the properties of the Boston
idah" Mining Company were in the
hahds OF promoting mining schemers
j. would have capitalization of not
less than s2,500,O0O to $4,000. 600 with
perhaps fifty per cent. of its capitali-
Z"tlon IN the Treasury, and the other
my per cent. in the hands of the pro-
Hlo'crS. This very excessive capitali-
"atl"n OF mining companies is what
ic''ces the dividends to investors.
ahc spells disaster to most of such
promoters.
within the last month we hayo
s'aihed, and still claim that, in our
Ilrm and honest opinion. the Roston-
ldaho Mining Company, with it's new
ioo-ton mill in operation. will earn 81
ai"oult annually to warrant it's paw
ing ioo per cent. dividends on all the
outstanding stock that the companv
WIN ever have (375.oOO shares). and be
ape 10 carry a good round surplus into
rs protection reserve fund. This firm
upiiioh mas been reached after a most
.noroueh examination made of the
properties and ore showinps in ,bo ,.o,,
eral tunnels by two expert engineers
aurins the early part of June in the
presence of Mr.. Diamond and an inter
es'ed stockholder who accomnanied
MN 10 the mines and who was present
when the five year contract was made
,or me output of the Lucky Rov
Mife. He was also present when Mr.
ro".'na, ros''a", on behalf Of the company,
70 contract the lead silver ores
to wait until the new Mil
ls IN operation, so that inte1,;garoo =. |