Show NEW INT RESTS IN OHO coP COPPER Will SOON n Kt CONTROL Within a snort short time timo tho the new neV equipment for or the Ohio is to be Installed d b by Colonel 1 K 1 A. A Wall al accordIng to reports at the company offices In this cl city Inthis In Inthis Inthis this connection It II is of oC Interest to note that the now Interests In the company compan are preparing to take control of or this property property prop prop- prof- prof ert erty immediately after the tho annual meeting meet meet- lug ing which takes ufer place next June Junc Whether or not this will I have havo any effect on the agreement that has been entered into with wih Colonel W Wall l Is a matter which will como come up later It I is said that prior to wi the tho annual meeting the Heinze Interests Inter Inter- es ests esta will turn over O tho control of tho the thomine mine wi mill and the Mascotto tunnel to mi the tho new Interests so that there will wi be bo bono no Interference in organization ton of ot the 10 board Thoard by No Now York bankers and others other oar who have the tho controlling Interests In the Ole stock This Tills statement seems to bo 10 borne borno out by tho the recent announcement of Mr Ir Heinze Heinz that ho lie would devote his entire time to gold mining minin In Canada The Tho company must be le financed and whatever new interests tako tao over management management management man man- of the property must be prepared pre pro pared pard to furnish additional funds which may b be ba accomplished through h underwriting log ing treasury bonds President Gilford sa says s 's that the floatIng floating float float- foat- foat in ing debt was reduced bv by b approximately from last years year's operations and the out outstanding liabilities cs exclusive of are now in the tho neighborhood of bonds With the two to of the tho mill mi In operation there has been treated as ns hl high h as S 1 1900 OO tons of ore a a da day but the average has been nearer 1500 tons Under Under Under Un Un- der era existing metal conditions tho tho company com com- pany I Is netting OOOO a 3 month from which how however ver there theto must be deducted some for bond interest leaving final fmc net in the neighborhood h of One of tho the Now New York national banks some seine time ago found Itself the possessor of considerable aJo Heinze collateral particularly par par- Ohio Copper stock and bonds The president of this Institution Is understood understood un un- un- un to to have havo o ha taken UD this collateral personally so o that tho the bank stood no nolos los loss losi and he ho will wi undoubtedly be b Interested in the financing and attenuated rehabilitation tation of ot the Ohio Copper company talon |