Show colorado mining operators form combine to mine and smelt ores of many properties in three counties articles of incorporation were filed with the secretary of state of colorado last month iby by the consolidated smelt ing metals corp with main offices at majestic building denver the corporation is capitalized for divided into shares atthe at the par value of 10 each and tho the financial statement submitted shows assets in excess of the designated officers of the corporation are E J kane president F G watrous first vice president F A winch second vice president W J hannan secretary and dr B L robinson treasurer after many years of strenuous work and close application of improved methods in mining which all wen went t for naught owing to unfavorable smelter conditions and freight charges it became apparent to officers and stockholders of many companies that a plan mus must t be devised to make mining profitable or they would be forced out of business busine ss says the boulder miner following this line of thought a consolidation has been effected of minin mining 9 and milling properties and merged 6 into the new corporation with the avowed purpose of erecting and putting into operation as soon as possible a smelter at golden colo to treat the ores of clear creek gilpin and boulder counties this news will be welcomed by every miner in these three counties the announcement means the revival of hundreds of old mines as well as further development of new properties millions of tons of ore available A report from the corporations engineers shows mil lions of tons of low grade ores in these three counties which are valueless and cannot be handled at a profit under the present smelting smelling sm elting and freight rate conditions this vast amount of ore will be treated by the golden smelter and re turn n a handsome profit to the miner due to the great savi savings digs in m freig freight j and smelter rates mr kane president of the corporation declares it was not the e desire of himself or the corporation to enter the smelting smelling sm elting business hut but on account of a great many million dollars duars invested by his company and his associates in the past it was found impossible to operate their mines and at a profit under the existing smelting smelling sm elting and freight rate e conditions in order to protect our enormous invest ants ments we w were forced into this large merger and to erect a I to take care of our ores which will show an addi dional onal profit of 50 per cent allowing us to pay substantial dividends vid ends to our stockholders he said many properties are combined I 1 kno the corporation now comprises what were formerly 1 wn 11 as the tonica mining company with holdings at idaho springs the chicago black eagle and yellow jacket line 1 and S P silver mining fin p entire parker placer the company pany of silver plume plum e the mammoth silver leaf ste vens mines and watrous mill the southern mining mineral corp of silver plume holding the star and duncan groups the wasatch mining co of silver plume holding the silver plume granite quarries and the golden smelter located at golden colo combined production of the foregoing properties taken from smelter returns is estimated at in addition to the fhe above properties which the corpora tion has purchased free and clear of all indebtedness mr kane states this corporation has other valuable properties under option of purchase that will be added to the assets of the corporation as soon as details can be executed with the vast assets of the combined properties which the corporation owns and backed up by over 1500 stockholders throughout the united states many who are listed as americas leading financiers and manufacturers coupled with officers and directors of practical mining men the miners millers of clear creek Greek boulder and gilpin counties are assured of this greatly needed smelter at golden the financial directors of the corporation state that sufficient capital has already been acquired acquire dby by eastern and other capitalists to complete the plans of the organization through a bond issue which at present is being prepared for the underwriters der writers and hopes to have the smelter which is thirty per cent completed in operation before january 1 1928 it is the corporations intention in the near future to start purchasing a large tonnage of ores in advance which will enable the independent miners to refinance their mines and properties and place them in production before the smelter is completed enthusiastic ratification meeting held an enthusiastic special meeting was held at idaho springs 6 may 19 by the clear creek metal mining association to meet representatives of the consolidated smelter rz metals corp A delegation of twenty five representatives of w f the corporation headed by E J kane and F G watrous met a like number of mine operators of the county most of whom were members of the association mr watrous who outlined the newly organized smelt ing corporation now known as the consolidated smelling smelting Sm elting metals corp cor p spoke in brief and showed as an independent miner miner operating his own mines the great advantages of having a smelter located at golden mr kane also addressed dres sed the members of the association in a short speech pledging himself and his corporation to ha have ve the smelter finished and in full operation at the earliest possible date rhe he clear creek metal mining association unanimously expressed its full operation cooperation co and endorsed the entire enterprise ter prise the consolidated smelting smelling Sm elting metals corp also announces the purchase of the silver plume granite quarries 0 located at silver plume it is the corporations intention to re equip these famous quarries with the latest improved machines machin cs saws etc estimated to cost approximately and within thirty days time this famous granite will again be on the market A great many of the old time architects of colorado and adjoining states will remember when silver plume granite was used by them almost exclusively before the great landslide which took place at brownsville Browns ville adjoining silver plume back in the early completely destroying the little town and burying beneath its ruins many million dollars worth of granite A recent investigation shows fully forty per cent of all monumental stone at fairmount cemetery both foundations oi the state capitol and postoffice post office buildings together with approximately of other denver building projects to be of silver plume granite F G watrous first vice president and general manager of the consolidated smelting smelling Sm elting metals corp states there are at present enough available contracts in denver for our granite to warrant the reopening of the quarries and insure continuous operation on a profitable basis for many years to come |