The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1915-06-19
CON. COPPERM|NtS
TO RAISE MILLION
TO SECURE BY SALE OF PONDS
OR OTHERWISE DEVELOP.
MENT FUND

~. n DOyhtOhs
Consolidated Coppermines company,
in a report to the stockholders. says
that the most important factor in
the success of the company is its n
nancing, and that it is purposed to
secure by the sale of bonds and ofn-
or means, a fund of about $1,000
900 for the company's immediate re-
quirements. He adds that this snm
is to be devoted to the payment OF
Indebtedness and the further devel-
'opment of ore bodies. Mr.. Boynton
says:
1.-The revolution that is now being
made in the treatment of copper
ores makes it but an act of wisdom
to withhold decision regarding The
erection or enlargement of plants
until the result of the experiment
al work now being conducted at
many porphyry mines has brought
better knowledge on this subject. We
are in accord with the view express
ed by General Manager Gray. that
a small experimental plant in the
old Girouv concentration be installed
with a view to determining the
best process for treating the ore
from our different properties.
ITO decide the methods by which
ore can be most economically mined,
it is necessary to know the extent
of the ore body and the thickness of
it's underlying Gaping. The devel-
opment of your property to secure
this information. and particularly to
prospect the ground between tho
various known ore bodies, can GER
tainly be best accomplished by the
continuance of the policy of the
management to determine by chnrn
drilling, as we'll as underground
mining, the extent and grade of the
company's mineral area. The report
of the general manager showed that
the mining Of ore and also explor-
alton by drilling continued after the
period of our last report until the
outbreak of the European war, when
for prudential reasons, the work was
luCu. III VIZ W.
again began shipments under our
contract with the Nevada ConsOii-
dated.
The past year has been admit
teddy one of anxiety and difficulty
for the industrial and financial
world. Our plants were favorably
advancing when the European wal
brought temporary chaois to bust
ness. Then prudence obviously de-
manded that the property be placed
in a position Of the lowest possible
expenditure. From that time until
March it was practically on a care
takers basis. In March, with the
increased demand for copper metal,
we again began production from the
Ora claim, and this continues orof-
itably.
with the improvement in the fl
nancial outlook soon after the first
of the year. the board of directors
decided it opportune to renew the
plan for financing. and for this pur-
pose the present executive was cho-
sen on Feb. 4. Obstacles. due prin-
cipally to what appears to have been
a campaign from sources outside its
management. have greatly interfercd.
Several methods of financing your
compsnv have been suggested in ne
eotiations that have occurred with
banking and other interests. and
under the existing conditions IT Is
believed one of the~e will he CARRIED
to a satisfactory conclusion.
"It is vour interest to snrnort the
management. to aid and not to de,
tract from ITS efforts in vOur behalf.
and manifestlv there should not he
visited on this grievances
against its constituent narts in
which Won formerly wern sharnho'1-
Owe "n6 with which the nresent or
poriZation is not concerned. We
invite Won co%-oneration and active
assistance"