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Show U. S. LEAD FURNACES A Battery of Thrae With Room for Six. RETURN OF BERT H0LDEN Contracts for Material Ara Piling Pil-ing Up Hourly. Advlcos From Boston That Tell of Big Earnings Dividends Most Likely Present Season. Bert Holden, who has been In conference confer-ence with Eastern Interests in the United States Mining company, of which ho is mannglng director, returned re-turned to town yesterday morning in time to participate with George K. Fischer, superintendent of construction, construc-tion, in the lotting of another batch of contracts for material to be employed In tho construction of the companys lead emelter, on which work Is now progressing pro-gressing In a manner which foretells an early finish. As everything pertaining to the financial policy of the company has been removed to Boston, Mr. Holden, who Is directing attention more directly to Its physical welfare pleaded that ho did not feel at liberty to discuss dividends that havo been pouring from the mines for some time, nor was ho prepared to relinquish whether or not the mines would be levied on for means with which to pay for tho lead furnaces. fur-naces. These wero matters entirely within the discretion of the board. Locally Lo-cally an Impression prevails that, for the new equipment, other sources of wealth will be drawn on. In this event the shoreholdcr Is quite Becure In relying rely-ing on a piece of bread-money the present pres-ent season. With the progress being mado In the construction of tho lead smelter the furnaces of which will bo 600 feet distant dis-tant from the copper plant, Mr. Holden was much pleased. Excavations for the blast furnace building and powerhouse power-house have been practically finished, while nearly all contracts for material have been awarded. Theso provide for two boilers with engines having a capacity ca-pacity of 1200 horse-power; the electrical electri-cal equipment for lighting tramway, etc., mechanical stokers, 750,000 pounds of structural steel to bo embodied In tho furnaco building, the roaster building, the remeltlng building, and a stack that will rise 300 feet above tho earth. A contract has also been let for a tralnload of cement to a local company, com-pany, as has been that for castings, tho remainder to be awarded as soon as possible. There will be three furnaces with which to begin, tald Mr. Holden, with provision made In the structuro for as many more, and certainly tho work will be rushed to earliest completion comple-tion possible. Managing Director Holden will leave for the mines this morning to Inquire Into new developments there and returning re-turning will remain Indefinitely. A Boston publication commenting on the achievements of the company since It was launched, says: , "The United States Mlnintr Mmnnnv has demonstrated that it can mako money. It Is flvo years since these properties were put together and within with-in that time the value of the Bingham and TIntIc properties of the company have been proven, a smelter erected at a cost of over $S00,00Q and the proposition proposi-tion Is now In shape to return to its stockholders. Six million five hundred thousand dollars of actual money has gone from Boston Into the proposition. It is a coincidence that after five years of development tho Btock of tho company com-pany is today celling nt Its original Issue price, $20 per share. It Is now producing about 1,000,000 pounds of bullion bul-lion monthly from five furnaces, for which It receives between 30 and 35 cents per pound, owing to the large gold and sliver values in the rich Centen-nial-Eureka ores. From this product tho company is showing net earnings of better than 5100,000 not per month, and if It can continue this output it Is In a position to earn $3 por share per annum for Its outstanding 419,200 shares of stock." |
