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Show Ii SiSL If -j; President Tony Jacohsoii Pre-If:sjj Pre-If:sjj pares Statement fo Explain 1 ; Financial Affairs, ilt;- WHY ASSESSMENT IS ;'- ' NECESSARY AT PRESENT I'lfl; Developed Ores Not Sufficiently ,ifjl High-Grade to Ship at This Time. . lj j Tony Jacobsou, president and qen- !j oral mnnapcr of the South Columbus 5J. 'L Consolidated coaipany has prepared a fjjj ii-,,1' statement which will be issued to stock- J, IL?' holders ns soon as the same is received j l! . from the hands of the printers. This I'-vra statement will enter into detail in re- jrf j gnrd to the conditions prevailing which if , j necessitated the levying of an assess- !yj'jlj ment of five cents per share on the ll'v. iy outstanding capital stock. iV"! m .. The report will show that, there aroi (' JfjJ thousands of tons of ore now developed vi Aivll in thfl Smith Columbus, but it is' of 'i fucIi a grade that profitable shipments tA under the existing prices of the met- mA, ; als. and especially in view of the ex- Sjl Vfj ccssive treatment charges, is impossible. jMn.ij This ore under existing conditions is a; 8 worth $1S per ton. The statement will if If show that it costs the prohibitive price M $1 of $11 per ton for treatment at the Rf smellers, while the freight charge is lit- .(,', .$4 per ton. making SI. 5 per ton charges. ,f'v lr. Jacobson believes thai when the Ut J' Interna tioual Smelting and. Kefinin-: '"'Is " ' company has its new custom copper '? smelting plant ready for business, and H ; when the (Jopper smelter at Bingham 1l ; , Junction of" the United States Smell-ing. Smell-ing. Refining and Mining company is It'! again set into commission, it will be pos- f sible for the South Columbus company iV. to secure an oro contract which will ... . jjl reduce the treatment charges to within :y.( a living basis, and. also that the im- ( ' '"'lj proVement in metal prices will be sub- i ' I stantinl. . i This five-cent assessment will bring i in the neighborhood of $25,000 to the ; treasury, which sum will be expended , ' ' in wiping out the indebtedness of something some-thing between $4000 and $5000, and on ." '; development work. The company has f, j left the unknown ore bodies for the f time being- working in new territory f which shows on the surface that, it is i highlv mineralized and full of splendid ; promise: Results are predicted from ". i this now work inside of the coming ' , k ninety days. The new drifts are being ' driven in the lower tunnel, and a third V l is following a fissure on the Quincy tunnel level. |