Show NEVADA CON fR fIRST SHOW BIG PROf PROFITS ITS surrounding l the sudden The mystery tur n g advance in Nevada Consolidated d shares chares has ha not been Rolv solves solved D. D C. C emphatically dented denied d the reports that Ut Utah h Copper was wal acquiring tho minority Int Interests resl and said his company was satisfied satisfied sat sat- lat lat- with wih holing holding tho the control of this this' Nevada Nevada bonanza The The buying which i iwas was Inaugurated yet yesterday en a continues I good today and there arc aro evidences of i ithe the buying being Ane done dont b by some Interests Interest I who think the tho stock tock ver very cheap at pre- pre railing prices Tho Tue ThI company's compans quarterly Quarter report for tor the quarter ending March 31 31 1912 which follows shows an Increase In earnings 1912 1911 1910 aN aNt earnings earning l' l J Dividend ft 7 7 Bond 1271 Balance VMS g v 6 3 i 9 Depre Steptoe plant 1 Hi Ore extinguishment Surplus Copper pr producer pounds l 8 e C Deficit a Net Ne e earnings fr from m mine Investments In s I and miscellaneous neou Undivided profits pron a 11 of or March 31 U. U 1912 surplus 1 Pl President S S. S W. W Ecce Eccles says The pro pro- production pro pro- ducton of or copper amounted to pounds a aa t follows January pounds February pounds March larch pounds The low 10 production during th thi th month of f February was AS flue due to the extremely dr dry ry season eon and and Insufficient snowfall w which natural naturally naturally- curtailed the lie operations at t th tb the concentrator due to the lack of water During March there was vas wa a er very hen heavy fall fail of snow snow insuring ample mple Water WA- WA wa- wa ter tel er supply for the year To protect Inthe in inthe the lie future against a I similar condition to that hat tha encountered during the month of February an appropriation has haf been made nade for additional reservoirs for set- set ling the water at the tho concentrator so the he ame same can cnn be used over when need need- nece- nece sary ar ary and this will wili alto ruce the pumping pump pump- In ing ng costs COltS The ore ore milled during the quarter mounted amounted to tons averaging per por or cent copper coppe of which tons tone were ore mined by underground methods from rom the Veteran mine Heretofore this ore oro extinguishment tern item Iem has hal been taken up only at the end nd of f the year yer but due to the fact tact that this method metho has caused some Mme misunderstanding misunderstand misunderstand- ing ng among a few of or the stockholders stockholder who ho have endeavored to reconcile the net credit to undivided profits profs shown shon quarterly gua terly erly with the yearly figures submitted In n the annual report your board has directed dl- dl that this item Iem be shown u in the Quarterly statements t ments During this quarter your board was as requested to consider r a n proposition which would permit the tile Steptoe Valley Valey smelting and Mining company to concentrate concentrate con- con the sulphide porphyry or ores ori of the he Giroux Groux Consolidated Mines company compan and nd to smelt Imet the resultant concentrates produced This contract has ha been een completed on profitable terms Considering your developed ore reserves the ho remaining or seven eighths capacity Of f the te concentrator will wJ be ample to treat reat tret as treat great seat a n tonnage as should be produced produce The contract while drawn for fora a ft period of five o f years eaT can can be canceled on n one years sears notice should future de- de of ot your oro ore reserves or other conditions warrant R Referring to conditions In Butte Mr Ryan says MYS I I havo have only one hops hope hope to express and that Is that that nothing will wi happen In the presidential that will wi put a I black blackcloud blackcloud cloud over Butte Bute that has hu been put t P over overt it I t In th the thA past b by people who ho are in a position to put over ItI It I I 1 do not hesitate to say that th there re 21 have havo lave been ben times In the Pst past when people who had hod ha the power nave have put us In a I very bad had wa way In this community and and I nm am Am only ont the ho that nothing going to express hope hop of the kind will wl occur again either Inte in inthe inthe the te near future or in the distant future tu |