White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1916-06-18

earned $685. 00 a month from these
operations
Nj. ii. b. Newton Of Boston, has q
contract with the Consolidated Cop
permines for = block of their first
mortgage seven pc cent convertible
bonds, which he is Offering for sale.
Mr.. Boynton, president of the COM
pany, states that the first money de-
rived from the sale of these bonds
will be utilized to provide a sum for
the further development of the prop
erty.
The ore reserves OF the Consoh-
dated Coppermines at the end OF
1914 were estimated at rs, 1000, 900
tons, containing about 1.131 per cent
copper, 1890. 600 tons of this ore
having been blocked out on the old
Giroux ground. In addition, there
Is reported to be a considerable
amount OF direct smelling ore OPEN
ed up on the old Giroux ground in the
Old Glory, Taylor and Alta shafts.
For the past few months, churn drill
ing has been continued, and these
reserves have been considerably en-
HANGED in quantity.
| The Consolidated Coppermines
Company has an issued capitalization
of 760.216 shares. There Ia an out
standing FIRST mortgage eve per cent
convertible bond issue amounting to
$40. 1000. 90. and notes and accounts
payable with interest amounting to
$3o4,e4o.o0.
COPPER STOCKS: In something
hess than an hours time last Tues
day, the directors Of SIX copper COM
/ panies authorised the payments Of
316.636,10S in dividends for three
months Of operations. Il - stated
that practically aif Of the production
OF the big copper mines 10 sold, NOT
only for 1915. but for several months
Of 1917, so II would seem that there
would be NO pronounced reaction In
the price Of the metal for the year.
Copper stocks are setting far below
their value, and should be bought fos
dividends and market advance.
KENNEcorT COPPER: At the
last meeting Of the board OF direct
ors. the president submitted a state
ment showing cash and copper on
hand, June 3, 1s16-all of which
copper has been sold-in excess OF
SIS, 900, 900.
1t is evident hat a larger dividend
than $500 a share is warranted, as
Kennecott Copper is earning about
$1,000 a share. In our opinion, Ken
necott will not only be paying a high
er dividend in the next six months,
but the shares will be selling at near
ly double their present market, which
is around $500. The company has
over 1000 stockholders at the pres
emit time.
DIVIDENDS: Another dividend of
&c a share has been declared on
Prince Consolidated, calling for
about $4,000. and bringing the to-
tai up to $4,000 for the first half
of this cal. The company has 1,00o.-
900 shares outstanding and owns14oo
acres OF ground. The stock Is selling
around 1925 a share. At It's present
dividend rate. II is averaging about
16 per cent on the investment. We
strongly advise its purchase.
BIG FOUR declared it's usual
monthly dividend of sc a share, pay
able June IS. In the decline In the
Salt Lake market during the week.;
Big Four hardly varid three cents .
share, and is now $1.65 asked. We
again urge It's purchase.
THE SALT Lake MARKET:
There was considerable decline the
first part of the week In the shares
listed on the Salt Lake Exchange,
with the exception of the old line
companies. The end OF the week
however, the market strengthened
very materially, Alta Consolidated
advancing 5hc, Mich-Utah. 4kc
Stfyer Shield. be. The new promo
lions and prospects, have suffered .
severe setback. Silver Shield Do
clined from a high Of $3.50 bid, b
q low, this week. of SIC. principG0
on runors that the company did not
have the ore. We have It on good
authority, however, that this IL not
true and that the mine looks bigger
and better than ever.
NEW QUINCY: This has also
suffered a decline from a high Of
around Acc to around 2lc on the
same kind of rumor that we're seut
out In regard to Silver Shield. ana
on equally good authority. We know
that New Quincy has the ore. Nb
a very common occurrences Tor broA-