The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1908-11-23
NEW BLOOD NOW
IN MEXICO CON.
President COram Resigns From
Head of Company and
From Directorate.
". s. MCCORMICK IS
STILL ! DIRECTOR
House of StallfOrth Becomes III
terested in Well.knOwn
Silver Property.

J. 4. Coram has voluntarily retired
as president and director Of the Mexico
Consolidated Mining & Smelling co.
Frederick St5llforth has been elected
president Of the company. Mr.. stall
forth is emincntly qualified 70 take this
posltIon as the firm of which no is n
member in the House OF j. Stallforih
6- Brother. bankers, merchants and min
Ing operators. The Stallforths have been
interested in Mexico for the past eighty
wears. and havo been identified I'm bank
Ing, mining and merchandise business In
Perral. their headquarters, Tor forty
eight years. They have in their employ
several mining engineers and are operat-
ing mines o. theIr own. PARA! is To-
Gated about one hundred miles from san
Pedro, where the properties OF IN" Me%l-
20 Consolidated Mining Smelling Co.
are located. consequently they are In close
touch with the properties. IheE nave
recently had their engineers make ~,
examination of the Mexico ComsoiidatGd
mines says the News Bureau The stan 3.
forths and their friends arc owners OF
between 60 600 and 10000 shares.
The directors and stockholders feel that
ing the House OF StallforthS so closely
connected with tho properties. The
treasurer will be Mr. Larsen who is To-
Gated I Parral. and the finances VIII De
'rhis will assist materially in CARRYING
out certain economies. Tho new presidenl
Of ths company Will draw no salary until
the company Ia again IN a PoSlt'on TO
The Following is tho complete new board
Of directors as decided upon at n meeting
Frederick Stallforth. president; T. FL
lett. treasurer. w. J. Riley, OF Brown.
Riley Co; ~ w Jordan, chair chairman an
american Trpst Co; J. G; F2irenild' or or
New York. John r, Schermerhorn OF New
York Edward L. vnite, samuel ;.
Rosentamm. William. s Mccormick OF
salt Lake CITY, and Spencer w. Richard
changes in the board at a later date
The retiring directors are: J, \. Coram.
Chester D. corsm: -, L. I. TTgH, Wiliiam IAN
Freeman viii continue 10 act as secretary
md assistant treasurer;
- J. A. Coram says: II have retired from
Mexico Consolidated Co. because l be
jieve it for the best interests of the
company 10 have the House of Stallforth
IN the management. ] retain, however,
Consolidated Co. Is now in position TO
show substantial earnings, for l consider
jIs troubles are largely behind it, Dur
Ing the past two years the Mexico Con-
golidated Co. has treated 53.6S8 tons
uf ore at a cost per ton (CniLed States
currency OF $3.50. and net profit 10
the company Of Sl7.74 per ton. The total
silver product has amounted 10 2,5S2. .1Si
ounces. Our total cost Of production has
been 0O6 and out total profit has
Deen se52,656. equal To 81 per share or
50 per share per year
''rhe new cyanide mill Is just getting
into good running order and the results
from its operation should countcract the
drop IN the price OF silver, inasmuch as
in the last two years the company only
received from its concentrating orc a re-
covery OF from 6S to IS per cent, but now
with the addition OF the cyanide mill, 8
total recovery from the same ore OF about
90 per cent is being made"