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Show $ PRINCE CON. f' sfl'i , ' TV INING is often held up as synonymous with IlVl rjgk and farming as the quintessence of conservative con-servative certainty yet one would have to And a farm from which he could be absolutely certain of thirty-four maximum annual crops to make an agricultural investment which would compare in reliability with the Prince Consolidated mine at Pioche, Nevada. i The thirty-four successive crops of the Prince j are where they can be seen and all that remains is the harvesting. The last year has been a wonderful year for the Prince. The management has demonstrated more than six million tons of ore that will yield a net profit of $1 to $3 a ton, according to the condition of the metal market. At present the company is making about $2 a ton on its production. pro-duction. This demonstrated ore body is one of its resources. re-sources. Geologists think it practically certain ' that the work of the next few weeks will prove '- t an additional eight million tons of this low grade , ore, after which there will remain to be doveloped I (i two beds of higher grade sulphide ore shown by g i diamond drilling to underlie the low grade, and I ;j several million tons of mixed lead zinc ore. I The mineral resources of the Prince so far t. transcend the deposits of lead-silver ore with 8 ,j which the world is familiar, that their significance ; is not comprehended and the investment value of ' Prince shares is but slightly appreciated. Ii 'Hi A feature of the company's operations which l is more readily understood is the milling of 120,- jj 000 tons of smelter tailings in five dumps at Bui- J lionville and Dry Valley, Nevada. A new mill of f 200-tons capacity daily is being hastened to com- u pletion and is expected to be running by July 15. If ik Average samples of the tailings show the me tallic contents to be 7 per cent lead, 10 ounces t' silver, and $2.40 gold per ton. The most con- k - servative estimates place the profits to be derived nj from these tailings at $750,000, or 75 cents per m share on the stock of the company. WM Prince Consolidated has been distributing div- mk idends at the rate of 20 cents per share per 1 If annum. This in itself is a very generous return V ii on the present market price of the stock when "- , assured for an average lifetime, but it does not begin to represent the dividend possibilities of the property. A large proportion of the earnings of the company com-pany in the last few years has gone into improvements, improve-ments, equipment and advance development work. With the completion of the mill the expenditures for these purposes will be practically at an end and there will be nothing to prevent the disbursement disburse-ment of all the net income, beyond a safe reserve to stockholders. The property is under the management and direction of Murray C. Godbo, assisted by his brothers, A. H. and E. L. Godbe. These gentlemen gentle-men have grown up with the Prince and have never looked elsewhere than to the ground itself for the fortunes they believed to be in the enterprise. en-terprise. As the largest shareholders in the company com-pany they are most vitally interested in its economical eco-nomical and successful management. Now they feel that the shoals have been passed and there is nothing bpt smooth sailing ahead. |