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Show OH YOU SIOUX! Sioux Consolidated took a spurt this week which proves that everyone does not believe the report that the company will have to dispose of treasury stock to meet its next dividend payment. If it is contemplating the unloading of shares now Is a very good time to get busy. The attempt of a broker to execute some eastern buying orders this week called to notice the fact that the local market is stripped of this stock. Lack of offerings accounts for the sudden rise in price. If it managed man-aged judiciously the Sioux should be able to feed the market considerable treasury stock without spoiling its appetite. Not since shaft-sinking was started last May has a statement of the financial condition of Sioux been made public. Rumors of its impecuniosity are based on an estimate of the cost of development work and a reduction in output out-put which cuts the income to $5,000 a month, or loss. There is still to be considered the chance that the company will get shipping ore in volume 1 of its 600-foot level. A strike there would change the aspect of affairs completely and put a kiboBh on talk of treasury stock sales. It might also quiet the complaint that Sioux teams are used to haul ore for the Iron King and Gold Chain mines without compensation. |
