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Show IS COnJSOUOATED HOLDS GMIUTES Will Offer Its Stockholders Short Term Notes to Carry Products. As a eolation of the war cost a:id prewar pre-war galling price futuatlun wliK'h !3 wor-r'ipg wor-r'ipg tl'ie oroduoors of lead aii'-l zinc ores, (ii i:l iie.jtot s of the Oliver King tjoa-jfoiidated tjoa-jfoiidated Milium mpany ha e decided to ca: r- ttio.r lt.id-,inc conoontrates until un-til a decline 01 i.'e'.s. a r.te in prices, or bi.tli, n.surea a leabonabie profit. '1 iiiti policy ie set lorth in a circular let'er lo stockholders offering S2UU.OD0 in short-term notes issued lor the purpose of enabling the company to carry its product and at the same time go on v.-ith tho development ol its property by means of the ipiro drainage and transportation tunnel. The circular letter, which was being mailed yeterdav, in part follows: "Business conditions being such that the principal effect of marketing lead and zinc ores is to increase Uie war accumulation accumu-lation of those n-fctals and postpone the time wheli producers will realize a reasonable rea-sonable profit on their products, we believe be-lieve that those who can afford to do so should either keep such ores In their mines or carry such mined ore in stock, until reviving industry absorbs the metal surplus and a normal price level is reached by labor, supplies, freights and smelting charges. "At the same time, we are averse to a policy which will create unemployment and Industrial unrest; nor do we wish to delv the completion of the utilities Vhich should he ready lor Immediate use when maximum production is warranted. "The proper method of dealing with the situation, we have decided, is to finance mining and development operations opera-tions for such time as may be necessary by a short-term loin, meanwhile creating creat-ing a reserve of marketable ore and concentrates. con-centrates. Within a few months, we are confident, the advance In metal prices and reduction in costs will far exceed the interest charges on tho borrowed money, and the tunnel development will have progressed sufficiently to enable us to take advantage of favorable changed in the market. |