Salt Lake Tribune | 1908-07-17 | Page 6 | Samuel New House is Buying Cactus Stock

I SAMUEL NEWIIOUSE IS BUYING CACTUS STOCK It Is. stated that President New-house has . recently purchased a block of 15.000 shares of ' the Newliouae Mines anil Smelters 1 around ?5 per share and has an option 011 a second block of the same amount, sood for sixty days lu view of the fact that the company Is understood lo he producing copper at the rate of fiOO.000 pounds per month at a ;ost of approximately S cents per pound, ami has demonstrated that it is capable of an output of 1,000,000 pounds per month at a cost of 7 cents per pound, the shares In tho neighborhood of 51 certainly strike ono as an attractive bargain. On an output out-put of but JO, 000, 000 pounds per annum r ' and assuming a cost of S cents, Xewhouse should be able to show earnings of Jl I per share on a 13-cent copper market, t which would be equivalent to about IS per cent on the pruf-'ent price of the stock. H Last year Xewhouse sold around 23. or more than four times It present price. Aside from the Influence exerted by the sharp drop In copper, the decline ' In the stock has been due to reports Industriously circulated by interests antagonistic an-tagonistic to the Xewhouse management t to the effect that the rich chute of smelt ing ore which was discovered on the 400-foot 400-foot level and encountered again on the 500 and 000-foot levels had run out below the latter level. This Is emphatically denied de-nied by President Xewhouse, however, who avers that the property has a more r promising outlook at present than It has ever enjoyed before Boston Commercial 1 Bulletin.