The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1910-04-25
MASON VALLEY IS
GIVEN GOOD LINE
East AWakenS to Importance of
New Era for Yerington
Mines.

Mason Valleys $1,O00,0 900 of converti-
bic bonds, now icing issued pro rata
at par to stockholders, are reported
1913 bid. with sales as high as 1924.
The bonds have 0ecn written by some OF
the large stockholders, all of whom,
it is understood, will subscribe for their
fun allotment. Small stockholders will
do we'll to follow this example. Ma
son Valley stock, now So par, and only
154 900 shares outstanding, is selling
around So. Each $500 bond Will be
convertible into so shares of stock; anu
if the price of the shares advances to
$50 within a year or two, as 1t is quite
sure to, a $500 bond will thus be given
d market value of $1,000, and the holder
will receive interest meanwhile at the
rate of per cent on his investment,
says the Boston Commercial
Convertible bond issues, during the
past two or three years, by min
ing companies owning properties or
demonstrated value, have been highly
productive speculative investments. II
will be recalled that Immediately fol-
lowing the flOtations of convertible
bonds by the Miami, Ray Consolidated;
Utah Copper. Nevada Consolidated ana
Arizona Commercial companies their
stocks scored sharp advances, causing
the bonds to command big premiums.
In view of the fact that the recent re-
adjustment of capital. which reduces
its outstanding stock from 100000
shares. par 81, TO 154,0 600 shares,
par S5-stock holders exchanging five
shares of the former for one
of the latter-and the issue of s1,OeO 900
bonds to finance the erection of =
smelter is to take Mason Valley out or
the list of mining prospects and make
il a producing, prOfit-earning company,
there can hardly fail to be substan-
tial advance in the prices OF It's STOCK
and bonds.
Smelling Feature Attractive.
The company's new smelter will be
built on a site purchased year or more
ago. 1t is about two miles north OF
Wabuska, fourteen miles from the mine.
The railroad from Wabuska to the
mine built by another company, is
completed. The smelter VIII az Ilrst
have a capacity to treat 500 to 500 tons
of ore daily and will do custom busl-
ness. As it will be the only custom
smeltsr between Salt Lake and the "a
ciffc coast, in the wide area served by
the Southern Pacific railroad, II is
practically sure to build up business
of great proportions. 1t is believed that
as much as 500 tons OF ore daily may
come to the smelter from the Herington
district alone.
If is estimated by the company's en-
gineer that Mason Valley has 100000
tons of ore averaging between ana 4
per cent copper, demonstrated above lts
No 4 tunnel Two wines are being
sunk in the ore from the lower tunnel
level, and the average grade at this
depth is better than it is above. An
other tunnel can be run TO cut the ore
go feet deeper. or 1t can be developed
at depth by a Wine or shaft ana
hoisted.
The fact that Mason Valley ores are
high in iron, sulphur and lime. cOnsti-
tuting the necessary fluX for the high
grade carbonates, siiicates and oxides
which occur in abundance in many
other mines in the vicinity and that its
new plant is about 300 miles nearer
these ores than any other custom smell
ter. insure the company both large
business and a good margin of profit.
The smoke and fumes litigation in CAL
ifornia may even send Pacific coast orsS
ia the Mason Valley plant for treat
ment. All of the natural conditions are
in the cOmpany's favor and the man.
agement has good basis for its belief
that il will be able to build up one of the
largest and INST profitable copper ore
custom smelling businesses in the ell
tire west. I advise the purchase of
Mason Valley binds and stock