Show BINGHAM COPPER MINES the united states stated investor of boston and new york in commenting upon the consolidation soli dation of big copper producing proper properties refers as follows to copper mines in utah the next important consolidation will be announced very soon by the american smelter interests the field of operations of this new company to be known as the international ter copper company will be in utah and the properties taken over will probably include the boston consolidated the utah copper company the ohio copper company the newhouse cactus property and possibly the fortuna property the capitalization of these companies is while their market value is around so that it is quite likely that the international copper company will have a capitalization of at least all of the above proper ties will become dividend payers before long as no doubt exists as to the enormous quantities of low grade ore in the mines and as the development progresses the rock appears to become more highly mineralized SD sa that equipment is all that is necessary to carry on a very profitable business no better management could be found than that of the guggenheims and samuel newhouse both interests being actively identified with the new enterprise the united states the reorganization of the united stakes mining company into the united states smelting smelling Sm elting refining and mining company with mth large capital increases has been one of the remarkable financial events of the year the new company promises to be even more inore of a speculative venture than its predecessor yet in the issuance of preferred shares preferred both as to dividends and to liquidation liquidation the originators of united states state smelting smelling Sm elting have established as near a mining investment as can well be conceived the new corporation rp oration can hardly be classed as a mining milling venture as under the comprehensive plans for the future growth of the company mining does not enter in as the most tant ant mature feature although it is one of the most necessary adjuncts to the success of the enterprise ter smelting smelling Sm elting and refining copper and other metal is the primary object of the corporation po with feeders in the shape of producing mines to supply ore to the smelting smelling sm elting and refining departments so that competition and periods of depression will have no bad effect upon the business of the Com company piny already the properties controlled are earning net profits of over a month or annually which is over 17 per cent on the preferred stock that has been issued A As this stock is on a 7 per pel cent basis its dividends seem fully assured the preferred is secured by property and cash valued at over so that with earnings equal to 17 per cent and assets of in excess of the issue it has every indication of being as near an investment stock as any mining proposition in the world of course many holders of small lots are inclined to take profits on the present market and the selling has a tendency to hold down the price of the preferred shares but once the market gets cleaned up of this scattering stock it looks as if the shares would sell at par or better the character of the men identified with this enterprise insures it careful but aggressive management and it is planned to make this company second to none in the business of smelting smelling sm elting and mining |