White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1916-07-02

ket. The declines have been contin-
nous. with very little advance in any
of the exchanges. The Mexican war
situation hangs like a cloud over the
financial horizon, and the condition
is taken advantage of by the Bears
to further depress prices. This is
narticularly true of the copper stocks
which. of all the list, should have ad-
yanced rather than declined, for cop
per. the metal, has held around its
usual price of Use, and the dividends
have been larger and more numerous
with the copper companies than ever
in their history. The cutting off OF
the production in Mexico, and the
closing down of the Green-Cananea,
and the Phelps-Dodge x Cos prop
critics, means q heavy reduction in
the output of copper. The necessities
Of the government for the metal in
, their war supplies should make the
price of copper higher, and in the
opinion of some experts, will advance
ii to a point beyond its present high
price.
CONSOLIDATED COPPERMINES:
The annual report of the Consolidat-
ed C~oppermines has been issued, and
the gross income of the company dur
ing its fiscal year ending April 80,
n ~ % TLz ..AI.a4sAa 44HaG
1.646.502 pounds of copper; 556
ounces of gold, and LAS ounces of
silver. The financial statement shows
a deficit on April 30, of $3.50, 7S4, an
increase during the year of $64,197.
Development work was resumed in
February. and it is stated that in the
ensuing sixty days. there were added
to the reserves 466.540 tom of de-
veloped ore averaging 1.6S per cent
copper. 1t is estimated that all the
properties controlled by the Consol-
idated Coppermines company now
have developed and partly developed
25,S67,S50 tons of ore, averaging
La per cent copper. Consolidated
Coppermines declined to $2.25 bid,
$3.50 asked. One odd lot sold for
$500 a share. In our opinion il will
sell still lower.
CARDIFF: A feature of the Salt
Lake market during the last week
was the decline of Cardiff from a
high of $1,000 asked. to a low of
$3.50 bid. There seems to be no
reason for this decline other than the
general depression of all stocks. AS
reports state. they are shipping in the
~neighborhood of 100 tom a day, and
endeayoring in every n possi-
BILE to increase the shipments and as
ii is paying 25e a share quarterly.
and has already paid a total of $780,
900 in dividends. equal to one-half
the capitalization of the company at
par. it should be, now with prevailing
prices of $3.50 and $500, a splendid
purchase. We will carry Cardiff on a
33 ID per cent margin.
The other Cottonwood stocks have
declined also and ii is the opinion
that the Cottonwood district has to
make good this summer or the gen
eral public will lose faith in all of
the stocks in that district. with the
exception of the one big mine, Car
diff.
BIG FOUR EXPLORATION reced-
ed to a low of s1.45 bid, $1.55 asked,
but the lowest actual sale recorded
was $3.50. Anyone who has studied
the financial condition of Big Four
and its properties cannot fail to APP
preciate the desirability of this stock
as an investment. We advise its
purchase at the market both for div
idends and for market advance. and
will carry Ii on a 33 f-3 per cent mar
gin.
BIG COTTONWOOD is Sc bid, 4e
asked, and is holding its own with
AS a very low price speculation. Big
Cottonwood has, in our opinion, ad-
vantages above other stocks on the
board.
THE CoPPERS: All of the high
price dividend paying copper stocks
have declined still further, with a
slight advance at the end of this
week. KENNECOTT'S income is es-
timated for the second quarter of the
year at around IS, 900, 600. Its out
put from the Alaskan copper prop.
critics alone is In the neighborhood
of / 1000, 900 pounds, produced at a
profit of &c a pound. At the present
selling price it is paying almost 10
per cent on the investment. Copper
company shares selling for from
$1,000 to $500, and paying divi-
dends from soc TO $500 a quarter,
49, = --94.--- =. 4Ix... ..I.A a.