Show CHIEF consolidated elucidates advantages OF CLEANUP CLEAN UP directors of the chief consolidated mining company have extended the offer for the exchange of mining company shares on the basis of one of chief consolidated for five of until J january andary 10 1926 the date of the closing of the companas comp anys books preceding payment of the regular quarterly dividend on the chief consolidated shares on february 1 next officials of the chief consolidated said president walter fitch sr fully realize that due to the improvement of the ore coming from the during the last sixty days from the point of view of the minority stockholders the terms of the trade appear to some of them to have been more favorable to the chief than to them but nevertheless the officials of the chief consolidated are not so convinced and they believe the advantage is decidedly with the stockholders of the who have traded first because the quarterly dividends on the chief will be paid regularly and indefinitely so far as the company can now see moreover when it is realized that since its organization the chief consolidated company has acquired ownership of mining ground and claims and mines in the district amounting to considerably over acres and in addition to its own original mine it owns outright the grand central gemini eureka hill and the ridge and valley mines and all but a few shares of the apex standard company in its wonderfully advantageous position on the east side of the district together with its large acreage ownership and practically all but a moderate amount of the shares of the mining company it can be readily seen that the opportunity of perpetuated life and perpetuated dividends certainly rests with the chief consolidated as against the life and opportunity that goes with a single mine of comparatively ively small acreage company holdings are large the chief consolidated now represents the inclusion of twenty nine separately organized companies the property of which the chief owns in fee simple with the exception of the following which it controls by large majority ownership of shares east tintic gintic consolidated mining company eureka lily mining company eureka mines company eureka bullion mining company apex standard and the mining companies the cost to the company of all this property was which it must be understood is altogether in excess of the cost of its own original property and the claims immediately adjoining it which amounted to over thus main making a L total cost of p property now owned by the chief as sli slightly b fitly less than four million dollars all this being done on oil a very moderate basis of values and it has been assumed by the companas comp anys officials that the present and prospective value of the whole property exceeds ten million dollars it is also worthy of remark that the money found for this work has been largely made from the barnin earnings s of the company in addition to the paid in dividends advantages of cleaning up all of these facts give a measure of value of the advantages in the way of a perpetuated investment for the companas comp anys new stockholders which we believe will impress them when given the proper consideration and will induce the stockholders yet outstanding to assist the company to carry out the plan of a complete merger with the attendant simplification and economy of the methods of the management following such plan athe the payment of any dividend to the stockholders of the from the treasury of that company certainly could not be made until sufficient working capital accumulates to avoid any possibility of the company again running into debt as it did to the chief consolidated in the past this amounting at one time to after the calling of a large number of assessments and in addition there is the possible necessity of making some independent shaft outlet to the mine other than through the grand central workings where the hoisting of the product of the company acts as a great inconvenience and impediment to the operations of the grand central this shaft may become imperative if the grand central should develop into a large producer and in such case there would be much expense involved for such connection as well as the necessary added equipment |