| Show FUTURE OF OHIO COPPER the stock of the ohio copper mining company operating at bingham utah has shown considerable activity on the salt lake and eastern markets lately relative to the future of the company a mining man probably as close to the inside of the affairs of the corporation as anyone has made the following statement we have had as assurance s urance right from the beginning that the stockholders would be taken care of in the final accounting of course technically but not morally the bondholders bond holders and mortgagees can foreclose and take the property mine mill and all but as they they are also the largest stockholders they are not likely to do it I 1 believe that in the end the mascotte tunnel and railroad will be absorbed and probably some adjoining property in that case the mill would be overhauled and improved and instead of a 30 to 45 per cent recovery 50 to 60 per cent of the copper contents should be saved with these changes the present stockholders should be the recipients of probably one for three shares of stock this is just my opinion however and at present metal prices no assessment may be levied as the mine should be made to pay excellent profits my personal opinion is that the leasing of the property under the present high metal markets is worse than radically wrong relative to the ohio affairs the C A stoneham letter of april 20 says there is some comfort for the stockholders of the ohio copper company in the fact that the company is receiving about a month in royalties the operations of the leasers leaders on the ohio property have been of an eminently successful nature and the lease has been continued until may 20 the mill is now handling about 2400 tons of ore daily and producing pounds of copper per month it is not unlikely that steps will be taken shortly to discharge the receiver and take possession of the mine and mill this action is likely to come from the bandhold ers of the company and it is not impossible that ohio will undergo a reorganization that will be satisfactory to all shareholders and inasmuch as it has been demonstrated that in the present copper market and under the new method used by the leasers leaders lea sers ohio copper can make a substantial profit the outlook is certainly more encouraging g for the stock than it has been for a considerable period |
