OCR Text |
Show Hi 1 1 !' DALY-WEST. l 1 1 jj For a mine that has paid- six million .dollar ? 1 in dividends the Daly-West, at Park City, presents 1 1 ; . j extraordinary possibilities for the future. Instead 'I . : of depleting its resources the production of the i i , ' past twenty years has' served merely to open new 1 1 channels of ore and develop new territory. Ex- ,.' perts agree that the richest part of the mine re- tjf;j mains unopened below the water level. "Within i J ;j a short time now the underflow will be tapped by the Ontario drain tunnel and the exploitation of ,1 It i ! the deeper and more valuable parts of the ore bodies will begin. The water, hereafter, will bo 1 1 1 j a valuable asset instead of a drawback, for the $ 1 1 ' interests in control of the Daly-West, Daly and "' I Ontario have devised a plan to use it that is as J practicable as it is ingenious. As the under- A j j ground river goes rolling out through the drain ill 5 tunnel it will be harnessed to electrical machin- " If ! ' erv an( cniPellcl to do the heavy work of the 1 , mine operate power drills, hoist the cages and iji- ) light the levels and stopes. Ill j The work of reopening the long tunnel, which . l 1 ,j caved at numerous places more than two years ! ago, i now all but finished. But for a mischance ' 1$ 1 ' it would have been done by the close of the year. ' I j Daly-West has always appealed to the conserv- i ' V ' ative investor in mining stocks. It has never J, made dazzling promises of great and sudden 'I ; wealth, but it has given a generous and sure profit , i? (o stockholders through a long period of business- j) like management. The element of chance has if! j little part in fixing the value of its shares. There f) , is nothing problematical about the ore deposits. ( M j i They have been measured and invoiced. The sur- i face improvements are complete and up-to-date, j & i Tho risks, such as tltey are, are not the hazards ; jj of mining, but the ordinary risks which must be ; taken by the investor in railroad, mercantile or j wj j bank stock. The prices of metals, cost of labor, treatment charges, etc., are the only factors which influence tho intrinsic value of Daly-West stock. Tho company ij$lys its dividend of $108,000, or CO cent's a shatfji, quarterly. The capital stock 'of tho company oohsista. of 180,000 shares, with a par value of- $3,000,00(' - The; recent money flurry and the depression of the metal market has low: ered the Quotation,? to approximately $10, which brings the selling value of the mine flown to $1,800,000. Therefore, Daly-West is paying, on stock bought within the last month, 24 per cent ' interest. Control of the Daly-West ,1s held by the Bamberger Bam-berger interest's, which have"! lately come into the management of the Ontario and Daly. These various va-rious properties are being operated jointly with all the benefits and economies which arise from cc-operation and unity of action. |