| Show GON EXPLAINS PLANS No Dividends Nor Shipments to Salt Sal Lake During Durin 1907 l REDUCTION PLANT PLANNED This Creoles Bearish of r Stock I Company Ii ny Thrown 11 Ll Light ht on Volley Pulley Special Correspondence Reno fleno Nov o May Mily 15 George Wing Wingfield field ald tal today tan In an Interview 1 with the Nevada ewul Mining News Bureau Buro that the tho Consolidated Mines com corn company compan pany pan would In every probability not pay any dividends during durIn the th year 1907 nor will wil any uny tny high grade ore ho he shipped to the tho lio smelters at n Salt Lithe Lake Mr rr said that the company Is so go soIng Iris Ing In to erect Its Is own tn reduction plant In at nt a I cost COAt of ot between b tween and nn and Ind that the tho mill nl will 1 have havea a I capacity of or from COO to 1000 tons tOiS per day dl He explained that the now In lii tho the treasuries at ot the subsidiary companies ot of which the tile Con Coil Consolidated company Is tho tile holding company compan und and Uld which Is available for dividend purposes would bo ho needed Lot for tho the erection of ut the mill mil and an to 1 furnish the mines mimics miles with wih proper equipment in the theny way ny of ot electric le hoists of at greater el tel horse horsepower power thou than those now on the ground which are absolutely essential before deep mining can cami bo lo 10 attempted Mr r VII nold asserted urther further that the time net hut cost to the company for 01 transportation and treatment charges ot of all al ore OKI shipped to io Salt Lake Lule for tor smelting was 30 per nor ton on and that with wih the tho com COin puny own on mill mIl In iii operation tills this work would be b accomplished at itt II about 7 per ncr ton toil The he maximum production of o tho the company Is given glen at nt 1000 tops tons per day and by not shipping shippInG ore ut at this time declares that there ther Is a n net saving of per day lIar which will wi be ho realized to the thc stockholders ns na soon anon tit I the mills mis arc ams Ile In operation on 01 tho the ground Mr 1 estimates e tho the overage value of at the th ores are now no blocked blockel out ont In lii II the thc workings of the tho various properties controlled by tin thc merger at lt flO HO 10 per pcr ton TO fO CONTINUE Ti The fact that no dividends wilt wJ be 10 de rIo declared clarell this year eal anti and Ild that no sensational will 11 be made ma l to 10 the tho smelters lell lellIs his 1st accepted here her as al a bear beul argument und and It IM 1 believed that time the downward movement on tho exchanges of pC sharps haw has hl by b no 10 menus means yet ot reached bottom holom and that Hint tho ilie decline will 1 continuo On the th other hand band the view is I widely entertained In and Reno Rono that as uS 11 soon as ItS UI the public understands the reason for or the tho decline In Q tire the downward movement of or this stock mock will to af at feet the other Go I issues which were Ire not no Included In Iii the merger and Ind that the latter will wil steady themselves |
