Show M IS-M SMELTING COMPANY MAKES STOCK OFFER United States Places Issue of Shares on the Market COMMON AND PREFERRED Subscriber Mu Iu ot t Take at itt Least One Share of or Either r l' Class Clas of or Stock i I I I The rite United States Smelting Helln- Helln Ing lug Mining company a as announced received h local in In a circular just by stockholders stockholders has decided to place on nit the market shares o of stock to tobe tobe tobe be ld di divided d equally between the common common com coin mon and preferred The circular says All the stock must be subset for before the and subscriptions subscriptions sub suh- must be ma made c for fot at least one share hare of common and one share of preferred that Is suh subscribers must buy both a preferred share and a com corn cornmon common common mon share total par pal value and andare andare are arc not permitted to subscribe mb ibe et-ibe simply for one kind o of thare or the other Subscribers who pay In full will be bo allowed Interest at al the rate of 4 percent per percent cent per annum upon the prepaid In Installments In- In from the date of ot payment to the due duc date of the lie respective in In- In Stock paid for fOI in full ull on or 01 before Nov Noy 26 26 1906 will be entitled to tu the January dividend Warrants for subscription will be beI mailed immediately after anCl the thc close o of business s Oct 21 21 1906 to common shareholders of record i-ecord at that time The present outstanding capital capita tock stock of your company compan is as follows folios i shares preferred stock shares common stock Upon the completion of or the above sale Ralo there will be bc outstanding shares preferred stock and 3 73 30 CO 4 73 common stock Leaving Leu In tho the treasury shares shai-cs preferred stock block and shares common stock X New Cn Properties Pu Purchased Thorn have ha been honn since Jan 1 1 1906 In the purchase of interests in interests interests in- in in iii new properties In the thc purchase purchase pur pur- chase of additional shares of stock In properties in which your our company and Its subordinate companies were already interested and in the additions to these various properties the tho sum of approximately matel all of oC Is l' l chargeable to capital ac- ac count rhe The value of or the lie supplies and metals in iii the bullion n on hand han and orcal ore at al the smelters molten Is approximately G.- G. Your Youa directors ha have hae e pi for extensions and additions to the he properties under their control tho the further sum Ium of or and they thoy believe It wise to expend at least In addition thereto The enlargement of the tho plants at atthe atthe atthe the refinery and at the smelters s will permit a lar larger er output but will also nece necessitate the carriage of or a a much larger amount of oC metals in bullion and ore ores Your directors believe that It I Is wise vise for fot your our company Itself to lo carry ry these metals between the time lime of oC purchase purchase purchase pur pur- chase or extraction from flom the mines and the time limo of or sale Ie of the finished product rather than to borrow horrow mone money thereon The net earnings of oC this company an and Its lUb subsidiary companies for fOl the six months ending Au Aug 31 1906 are estimated b by your treasurer er r at Sl- Sl 1 The exact figures cah caPt only ho he o given a after ft 1 the final payment for I copper silver IIII and antl lea lead head products Much Macli Ore In Sl Sight ht The managing managing- director Mr MI Holden Hold Hold- en lcJ that more Ole oio Is being developed In the United States mines at Bingham In the Eu Centennial icka mine ut ul Tintic and In the lie Mammoth tan Mam moth mine In California than Is ls beIn bo bong be- be In lug ng extracted The RIchmond-Eureka RIchmond mine has begun production but bul several soy sev eral oral months must apse before beCore any substantial amount of ur If ore oie can be shipped Df Development i IS progressing satisfactorily both hoth at lii mine and at Ht the Real Heal del Monte mines I in Mexico but hut the mills at the latter mines will wilt probably not bo ho ready for operation before beCore next summer Mummer Tho lead smelter In Utah has been doubled in iii size and should be bo read ready for Cot full tull operation before Jan 1 1 1907 Needed additions are being made to the converting converting con eon plant at nt the copper smelter In Ulah Utah which however will not bo he completed before beCore next Hext summer Additions Addi Addi- Lions arc aro also ao being made at al the Mammoth smelter at Kennett but hUl butwill I these thero will wili not be completed before next summer Tho The lead lea refinery ret near Chicago o should begin beg operations In th thI the th- near future and the additions to tho the I copper refinery In III Ne New Jersey arc well veli alon along toward completion The improvements In your OUr mines and the theof Increases of custom ores oles In tho the market market market mar mar- ket will probably require In the tho fu future tu- tu ture turn additions |