Show EXPLAINS PAIS RESON ASON fR OF CLOSING DOWN CACTUS MINE MINEA 4 A special 11 dispatch p from New lw York I Mj says that hat Samuel Newhouse in replying I to the time query of a number of or stockholders stock tock holders in the Mines Klines and nd Smelters company for an m explanation of f the disquieting 1 action ton n of the stock in J the market the recent past writes as nf foloI folo follows I Sinco Since annual annul report was our la last a t published wo WI have h 1 experienced h higher ghr I copper costs due Ille to two reasons the I first that ns as the tIme slopes advance arl a n lesser amount of h high grade gh smelting orewa oro ore wa encountered than during the tho former years carR and second unexpected difficulties aros tro arose c e with w-ith the ore in iu the mill mil mute due to changes s iu in its character IC causing H iDI the percentage e of if saving s to drop from a n normal of f 70 0 p per pr r cent to toas toas as 38 low Jow as ns f 50 0 0 per cent We Ve now th think I Iwo wo we ar an certain rel in of solving tIm the problem There will wi bo ho an m additional capital expenditure urE but hit not lot large an and we wo have 1 0 to close that it i. i was wiser co c the tho mill mm temporarily and make those thoc chan changes change c t rn the time depressed copper metal market Expert Exert Bottles We have ha e en engaged ga A. A J. J Bottles to des design the changes change anti and it is iR his intention tion ton to introduce a better lter classification system which will wi he be along be-along along lines similar to tho those e he has ban bal introduced in tho Garfield Garfield Gar Gar- field feld mill mi of or the Boston Consolidated mine where excellent res results arc being obtained We shall also add sixteen Wi Wilfley cy tables ten Johnson concentrating tables and two jigs jil to the equipment We shall abandon the use Ise of wet elevators lc and anel will wj double the tho mf settling system ays tem tern of the tho mills mils also provide for mechanical me mc means of loading concentrates on raj railway a cars IPer Personally Q I am ani confident that when these changes arc nrc made wo we will wi increase our savings to such an extent a as to enable us to meet the time market conditions con con- of copper oven though the they remain remain re reo re- re main main bad for some 1010 time I It I has hns been a matter mater of keen regret on my part that the stock has shown such a decline I I. I have personally gone to great lengths in 1 protecting the jn- jn n n. n of this property as 5 well wel as trying try try- ing to care for the time stock market end ond As 11 far as I have havo been beel able abo to use tse my funds beyond tIme tho demands upon me for completing building enterprises which I had be begun uT in in Salt Lake City before lefore tho panic set in I have ha supported the market on Cactus Cacus shares but the general gen gen- eral dissatisfaction of the public with nn any copper shares that arc re not dividend dividend- to have to alarming alarm paying seems run an alan Jl ing extent and there has been a tremendous tremendous tre tree streak of selling I am deep I ly r interested in the success of tho mine and have 1 0 been much concerned and vexed over the he problems we wo ha have 0 had to meet during the tho last year ear and particularly particularly par par- over the low price of the thern rn metal metal et al |