Salt Lake Tribune | 1909-05-29 | Page 16 | Why Cumberland Ely Stock Remains Down

I WHY CUMBERLAND ELY STOCK REMAINS DOWN A director and leading interest in the Cumberland-Kly company savs: "There has been some adverse comment com-ment because Cumberland-Ely 1ms failed to show nnv advance in price during the recent 'improvement in the cooper share market. There has been rear that propertv conditions were unsatisfactory. unsatis-factory. Such is not tho case, however, for 1 lie Cumberland-Ely company is earning at the rate of about 75 cents per share upon its outstanding 1.300,000 shares of stock, and by next year its earnings should be. such as to permit of the payment, of dividends at. the rale of $1 per share per annum. "Tho reason for the failure of Cumberland-Ely to advance markctwise is due to the fact that the Nevada Consolidated Con-solidated company had 200,000 shares of the stock in its treasury which it liquidated, and while the market has been absorbing this stock it could not verv well advance. 1 think this liquidation liquida-tion is about, over. Of .the 1,300,000 shares, the Guggenheim interests own 500.000 shares, and other large stockholders stock-holders arc tho Lo.wisohn brothers, William Wil-liam B. Thompson and James Phillips. .Tr. This stock on its merits is entitled to sell higher." Boston News Bureau.