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Show I ilk: The Market and the Mines I :JI .! If any hawk-eyed sleuth watched the pro-ail pro-ail i'-H ceediugB of the Columbus Con. stockholders ' MK.jMlt through a keyhole to gain a clew as to the de-' de-' ; 'jfllj, predion of the stock, he went away unsatisfied. i, Neither in the reports of the officers nor in the ' ' llh 'i-f" actions of the directors was there a good and 1 -Nlill l sufflcient reason why the shares of the company ' lii'lNl1 should be used as a door-mat by the proud and 'I'MirF' haughty bears. On the contrary the decision iffllli' to pay a (luartorly dividend of 20 cents a share 1 li'i would seem a reasonable excuse for putting the i 311 atoclc t0 Its par values of $5 a sUare- Twenty ''ll 1 1 ' ; cents a quarter is 80 cents a year and 80 cents $1 tj'l x a year is 10 per cent profit on the par value, 'ill i ill man who wants more than 1G per cent on his ': m rul money, is fit for treasons, strategems or the coal j J 'ffllU or ice business. ! jajv. jt & ''MW$ N , The financial reports showed that the com-'ia'''t!p com-'ia'''t!p pany liad talton in something over $360,000, j,lt fly frm the sale of ore, during the preceeding tiwb' year' countinE In however, the balance on hand t'lilllfll at tl10 beginning of that period. This makes 1 wfffli- tlie Sross income about one dollar a share. At I -M W?Vt tno beginning of the present year the balance iS 111' lu tl10 troasurv was $103,00.0 From this time ! 'la Iff ,.! on the expense of operation should be greatly ; ij.r;i reduced as the Columbus is amply equipped ' with machinery, power and buildings. The one ' cloud on the horizon is a suit commenced by ' ; J tno government to eject the pipes and power I ' i I' js.it 111108 of tno Columbus from unsurveyed lands up ; -i f 1 1 In Cottonwood canyon. The merits of the 1 Mm ' m CaSQ ar n0t easly determined by an outsider, '' N ll l)ut seems cloar nn-t the company does not ; ijS'j'ii stand to lose a great deal even if the courts 1 :MwIn should deny its right to run a wire and a pipe ' 'i 'Htflfflm across unoccupied government land. ' ' ' 'lH f', M ip 'jt' President Tony Jacobson of the Columbus, has 'I if if' yielded to the entreaties of his friends and the ','';; . " dictates of his own conscience and re-elected i ; if himself to his old position. President Jacobson r says there Is notnInS in tn rumor that arrange-'I arrange-'I J.WHK:'i'. ments are being made to consolidate the Co-- Co-- Jl i ' lumbus and the South Columbus Con. 'Injft'i'j '( bhM ' uae t0 1)0 romarltd that the price of Co-lumbus Co-lumbus Con. and of Little Bell went up and down together. For this reason they were called the Jack and Jill of the . stock exchange. The harmony was purely coincidental, for the properties prop-erties are in different districts and are held by entirely different interests. All at once the connection con-nection seemed broken. Little Bell was ushered into the gilt-edged half-morocco class and Columbus Colum-bus got so low that a poor man could take a share and a half home to his wife and starving family. All this is recalled by the words: "I little lit-tle Bell, 100 at $5.75," which appeared on the blackboard of the stock exchange this week. Jack and Jill seem to be going, down hill together to-gether and we are moved to inquire: "Did they get their water?" & & & Apropos of nothing in particular, the wires inform us that the stockholders of the Utah Copper Co. have authorized the issue of 00,000 additional shares of stock which they will sell at $25 a share. The proceeds will be used for the completion of the mill at Garfield; That the company can earn profits on its new and old stock and at the same time take care of its big bonded indebtedness, seems fairly certain, provided copper does not go below 18 cents a pound. But there would seem to be an element ele-ment of danger for those companies which capitalize cap-italize their future earnings on the basis of 18 or 20 cent copper. Everything indicates that copper will cost less and less to produce with each succeeding year. Unless the demand continues con-tinues to keep pace with accelerated production, the world is going to get cheaper copper. And in the case of those companies which have sold all the stock they can pay dividends on at 12 per cent profit, the dividends will have to be indefinitely in-definitely suspended while the more conservative concerns will continue the distribution of bread money to contended stockholders. & A visiting enginaer expresses the opinion that the Newhouse Mines Company will soon be in a position to pay $4 50 annually on each share of Its stock. If this estimate is correct it could stand for quite a reduction in the price of copper cop-per and still give a liberal return to those who have invested their money in its securities, j: President Jesse Knight gives it out cold that the Beck Tunnel company does not intend to increase in-crease its dividend at the present time. He says that the ore bodies are producing their regular quota, but there is no telling when the roads will go to the bad and force the management to curtail its output. By retaining the present surplus sur-plus unimpaired, the monthly dividends can be Kept up regardless of roads while a prodigal distribution from the well filled treasury might he followed by a financial famine. Besides devoting de-voting close attention to the Colorado Mining comply property in Tintic and the Mountain Lake in Big Cottonwood, Mr. Knight is exerting himself to make a bonanza of the Kindergarten group at Seven Troughs in Nevada. The name, "Kindergarten," is said to have been bestowed hy Mr. Knight himself. It was suggested to him by the fact that the claim was located and originr.lly developed by tenderfeet. Even though he hail never seen the locators ho could have told as much by inspecting the prospect shaft. Since the Provo operator got hold of it no more sinking has been done with a corkscrew. wt li( !,t The polite declination of Judge Marshall" to reopen the Mammoth Grand Central case after its adjudication of the matter in the supreme court of the state, leaves the Grand Central in peaceful posessiou of its main ore bodies. The victory was celebrated on the mining exchange by the boosting of the share to $5 and better. It failed to stay put and when it dropped back to $4.10 the stockholders were moved to inquire in-quire why they had paid out a half million dollars dol-lars in court costs and attorneys' fees for this. M to u B It is a pleasure to chronicle the latest devel- opments at the Uintah Treasure Hill property, because it Is such development that bring forward new mines and keep the state near the head of the mining procession. It seems that in poking around below the tunnel with a winze, Superin- tendent James Allen found a four-foot vein hug- ging the footwall. It proved to contain 54 per cent lead and 23 ounces in silver as well as some gold to the ton. The location of the vein is such that ample stoplng ground is assured. Hereafter, Mr. Allen will look under the tunnel every night before he gooG to bod. tt The humiliating confession must be made that the stock market of the past week has depended Hfor its activity on the brokers and professional speculators. Nothing of the sort ever happened nere before, and if the news gets to New York, It will shock our Wall Street friends beyond measure, so keep the skeleton in your own closet. Under such circumstances, the quotations are of little HKiiiflcanco, but the following changes are noted Colorado Mining, up 2 at $2.22; Co- lumbiiH Con., up 30 at $4.90, and Grand Central, up CO at $4.76. The casualty list is long and heart rending. Lower Mammoth dropped from $2.25 to $2.20; Nevada Hills, from $3.97 to $3.85; Beck Tunnel, from $1.85 to $1.80; Black Jack, fmm 85 to 71; Mountain Lake, from 91 to $S; Seven Troughs, from 99 to 80; Yankee, from 42 to 40, and May Day, from 27 to 23. Eye witnesses describe the slaughter of Seven Troughs at the Wednesday call as something too horrible to contemplate. The sum total of the disastrous week is 270,279 shares sold, selling price, $205,- 958.70, m and the ore and bullion settlements, G25,000. |