Salt Lake Tribune | 1904-05-26 | Page 6 | Boston Letter on Bingham Earnings

BOSTON LETTER ON BINGHAM EARNINGS The Blnghnm Mining company is today to-day producing copper bullion at the rate of 1,200.000 pounds per month, according accord-ing to Hayden. Stone & Co. of Boston In their weekly letter. The company's 1M.OO0 sharev are Belling at $20 per share, or JI.OOO.OOO. while the indebtedness indebted-ness brings the total market value of the proposition up to 14.000.000. The company ha this v-eck sold to a local banklng-hous $500,000 of its 6 per cent convertible bonds, the proceeds to be applied for the payment of properties purchaivKl and for whicli notes were originally given. The Mnelter is now running four stacks and treating 20,000 tons of ore pr month. About 40 per cent of this ore la custom ore. upon which the Bingham company derives a very satisfactory profit. While the Bingham company has been regarded as essentially a smelting prop option, the company propose to create such an amount of ore reserves a will make It Independent of sll outside ores. It has large quantities of iron sulphides , so necessary In the treatment of tUI-cious tUI-cious ore.