The sun., 1916-12-07

Kennecott
Copper Company
Reprinted by courtesy of "MARKETS,"
an Independent financial weekly.
Issue Of December I, 1916.
0NE of the newer copper stocks slated for early
listing on the New York Curb is Josevig-
Kennecott. This company owns % claims in one
continuous group. totaling 440 acres in the Chitina
Copper Belt, Alaska, made famous by the Bonanza
and Jumbo mines of Kennecott. The property Is
opposite the Bonanza and about seven miles from
Kennecott, the terminus Of the Copper River &
Northwestern Railway.
The copper wealth of this particular region as
typifed by the mines of Kennecott is too we'll
known to MARKETS readers to call for extended
comment. The Josevig-K ennecott property has
been examined by q number Of prominent engi-
neers and the geological formation has been pro-
nounced identical with that Of the company's
famous ~neighbor. The Josevig-K ennecott Com
pany is not an abstract prospect, as the property
is partially developed, copper has been produced
and about 800 tons of high-grade ore are said to
be ready for shipment at the present time. Trial
shipments of this same grade OF ore have shown it
to run 1866 copper and $500 silver to the ton.
These assays show that the ore is similar to that
of Kennecott's Bonanza mine, which admittedly
has one of the most remarkable high-grade ore
bodies in the world.
President D. X. Mcdonald, of the Josevig-
Kennecott Company. has just returned from the
property and in a personal letter to some inter-
ested parties in New York, among other things,
says:
"There is no doubt in my mind that this is
8 8"e ri a." 70, 1' iges n %ofe1:''. GServ one ~e' %nc To- look:
at it says it has the best shoring OF any in the
Copper Rirer country except the B9non:a: Pres;
Jumbo and that claim is regarded as a uonder.
Tunnel No. 2 is on claim No. I and you wiH fpd
ore exposed on the surface all the Way through
. Ms% NO. ! Il haze er re- e seem and III Il It a doesn' t" make
a big mine. I don't kn0p rhat uiN. The more
think about it the more I am satisfied that it
property. You understand that the Kennecott
COmpany's properties are only scratched and
turning out about 100000 a month, 80 just
imagine phat can be done when fully Developed"
MIHAT is considered a favorable factor, is the
W company's low capitalization. The company
is capitalized for 81, 500, 900, par value of shares
81, and there is no mortgage indebtedness or bonds
of any description outstanding. This compares
with the original capitalization of 1.120, 900 shares
of the Kennecott Copper Corporation, which were
UTSl SOlu d u SSO a SIdIe. III duulllO W WHICH inc
Kennecott Copper Corporation was burdened with
a $1O,O 600, 900 bond issue. The Josevig- Kennecott
properties are of about the same acreage as those
of Kennecott Corporation, and at the present state
of development those who have examined both, be-
lieve that the showings are similar.
Charles c. Jones, president of the Los Angeles
Mining Engineers Association, goes so far as to
say that the Josevig claims have the best showing
of copper mineral in the whole Kennecott district.
w. Bertram Hancock, formerly engineer for the
Kennecott Corporation says that the present
showing on the Josevig properties is better than
the initial showing on the Erie and Jumbo, two of
Kennecott's greatest producers. Mr.. Angus Nc
Donald, formerly superintendent of Kennecott. is
well acquainted with the Josevig properties and
says he believes that on development it will prove
as valuable as Kennecott.
The foregoing are only a few of the favorable
opinions that have been expressed relative to the
merits of the Josevig properties. At this time it
appears that the stock will have n considerable
market in New York, and if further DEVELOPMENT
demonstrates that the property is even partially
as good as it is thought to be, those who buy
around initial prices and are willing to hold the
stock for a short time, will probably be able to
realize substantial market profits a little later on.
Subscriptions at 81 per Share are bein,