The Alaska daily empire., 1915-07-23

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 There have been many irresponsi- ble rumors regarding the prospect i've financing of the Alaska Gold Com pany. In order that shareholders may be correctly informed it may be stat ed that this financing will probably be done. if at all. within the next four months, by S1,OOO,OOO of converti- ble bonds. and with this accomplish ed there will be absolutely no further financing for plant enlargement for a year or possibly two years, thereaf- ter.
 "As to the costs and recoveries ob- tained in the portions of the mill now in operation, it may be said that ey- cry estimate of our engineers origin ally made is more than being realiz- ed. Moreover the mining cost is well below the original estimates Natur- ally. however, the management does not mare to make predictions as to what mining and milling costs ulti- mately will be until we have had a "tryout" for some months with 10000 tons of ore perday. The present min ing and milling costs. the grade .of ore and recovery therefrom as well as underground developments, are, however. thoroughly satisfactorily
 Butte & Superior
 There is nothing essentially new with regard to the Butte & Superior which is not covered in the quarterly reports of that company. The prop erty is- looking we'll, and with the constant improvements which are be- ing made in the treatment of it's ores. recoveries and costs and hence the production and earnings are at high records, not forgetting. of course in referring to the profits the high price of speter As to the divident outlook, it may be said that the pol icy of the directors to keep in the treasury at least S1,OOO.0OO in cash and pay the balance of the earnings to the stockholders as regular and ex- tra dividends. In connection with the extra dividends stockholders should understand that notwithstanding that Butte & Superior is well sold ahead at high prices. the actual cash does not come into the company's treasury until the deliveries are made some months hence. In other words, when the next dividend is declared for pay ment Sept. 30 the cash on hand will be the sole determining factor as to Che size of the extra dividend. The same will apply in December
 There is no particular change to not in Butte & Superior's under ground situation. Reserves are open ed. in accordance with Butte mining practice. not over three years ahead. ! The Black Rock shaft is being sunk from the 1900 to the 1900 foot level, but no development work has as yet been done below the 16OO, where con- ditions are more satisfactory
 Utah Copper
 "The Utah Copper Company is op- erating now at 100 per cent. of ca- pacity for the first time in its history. | This means that it is in a position to take full advantage of the present price of copper and consequently is making money fast. Never before have operating conditions been so fa- vorable for Utah Copper Hitherto any increase in the milling capacity would have been based upon our abil- ity to increase the rapidity of strip ping, but the stripping is now so far advanced that the mine can increase tonnage as rapidly as any increase in milling capacity can be constructed
 Some idea of what Utah is doing may be gained from the statement that one day last week we treated 2S.0O0 tons of rre in the mills whose capacity was originally figured at 21,- GOO tons per day! This is. of course, a tribute to the advance in metallur- gical science in the past few years as ! well as to the efficiency of our op- erating force We believe that S0OO0 tons day is a possibility.
 with regard to dividends on the Utah Copper-and this applies to the Chino. Ray Consolidated and the Ne vada Consoidated-th policy which will be followed is this: Their regu- lar dividends are at rates which the directors believe can be maintained on 13-cent copper. Any further prof ] its which may not be necessary in the conduct of the business of the various companies will be paid to stockhold- CTS at the end of each year accord l ing to the custom previously adopted | with the Nevada Consolidated"