Salt Lake Tribune | 1916-08-02 | Page 12 | Empire Copper is Listed on Exchange

EMPIRE COPPER 15 LISTED ON EXCHANGE Showing 200.000 shares of treasury stock, $ltJ3,7ti4.76 cash on hand, no indebtedness in-debtedness and shipping ore, the-stock the-stock of the Kmplre Copper company way limed yesterday on the Salt Iake Stock & Mining exchange. The property prop-erty is located on Alder creek, in Custer county, Idaho, and iy controlled by Utah mining men, the Bccles family of Ofiden being heavily interested. One dollar and five cents was bid for the stock, with no stock offered under $2. The cumpanv Is capitalized frrr 1,200,000 shares, par vahie $1, and there are 200,000 shares in. the treasury. The stock is assessable. as-sessable. Frank M. Iceland is president and William A. Kerr is secretary and treasurer. ( The holdings of the company embrace a larye acreage. There are thirty-n i ne claims in the Kroup, eigh Leon of which are patented, with the remainder unsur-veyed unsur-veyed for patent, according to the listing application. There arc no bonds, conflicts, nor is there any litigation pending relative rela-tive to any of the claims. The estimated amount of ore in sight Is 1,500,000 tons of nil grades, and the company lias been shipping since 1007, In which year It was organized. During that time there have been shipped - approximately approxi-mately 400,000 tons of copper ore, the net returns from which were ?1, "00,000. The property is equipped with all of the necessary mining machinery and- reduction reduc-tion plants to handle a large tonnage, and the company also owns its railroad. The improvements and equipment are valued at $1,500,000. About 251 men are at present employed at the property, which has been developed i by 1710 feet of shaft, lD.lfiO feet of tunnels, tun-nels, flfifi feet of winzes, 3100 feet of raises and 10,160 feet of crusacuts.