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Show SCHWAB'S PURGHASEDF BIG HEVADAPR0PERT1ES Has Enormous Advantage Along Smelting Lines in His Contract Con-tract With Trust. The New York Mail, in commenting on Schwab's purchase of the Shoshone and his Nevada operations, adds: Thero is greater significance than is generally understood un-derstood In the contract which Charles M. Schwab has made with tho American Smelting and Refining company and mentioned men-tioned by him In an Interview granted exclusively ex-clusively to the Evening Mall. It adds 25 per cent to the value of all properties he controls. This contract Is virtually a perpetual per-petual one for the smelting of ores of all tho many properties which Mr. Schwab ls acquiring In Tonopah, Goldfield and Bullfrog. Will Not Discuss Plans. While hu refused to discuss Its terms, thero are grounds for the belief that this contract gives a considerably better rate than the very advantageous one which the Tono'pah Mining company enjoys, and less than one-half the rate paid by other Tonopah and Goldfield companies. Theso latter pay about $11 a ton on the average grado of ore which It Is the custom to ship and It Is believed that the Schwab rato Is about $0 on tho same grade. Taking Tak-ing Into consideration tho fact that the lower rate gives a commercial value, to low-grado ores which would otherwise be but wasto It ls estimated that tho new rate effects a saving over that previously pnld by tho Schwab properties of fully 5 per cent of the gross values of all tho ores In tho mines. Result of Advantage. The result of this advantage Is already seen In a large Increase in the shipments of tho Tonopah Extension, they being now aboul equal to thoso of tho Tonopah Mining company. Tho latter company paid 100 per cent dividends last year, and It Is expected to Increase to the rate of 200 this year. The Extension paid 15 per cent Inst year and will probably pay between be-tween -10 and SO this year. Wealth In Extension Mine. A. R. Hunt, general manager of the Homestead Steel works, a friend of Charles M. Schwab, and a good Judge of a mine. Is In Tonopah After ho had inspected in-spected the Tonopah Extension mlno yes-terday yes-terday a member of the company wired Schwab: "Hunt says Extension has ?30,-OOO.('X) ?30,-OOO.('X) In sight or not a cent " Mr. Schwab read the dispatch to a Mall representative with no boasting spirit, but with the pride and enthusiasm which would be natural. He Is very proud of his mines and has high prnlsc for his general manager. D. B. Gillies who has done wonders with tho Extonslon since he took hold last June. |