Show MINES MIN AND MINING EDITED BY F. F W. W Y SPRAGUe UTAH COPPER PAYS PAYi DEBTS WITH EASE t I r Old Bonds Converted Into r l. l Stock Releases t Mortgage NEW ISSUE IS IN DEMAND f Hm Handsome Profit in Sight With t i j Stock Aro Around Price nd Present Present I I The Guggenheims and Colonel Walli Wall i t having converted their holdings of ot old p Utah Uth Copper bonds bonts Into of the I company clear sailing Is Is left eft for th the now new bond Issue the big mortgage e o othe on j the plant being released The rho old bon bond Issue was for 90 O per cen cent centI I of which was held by the Guggenheims t the r remaining 10 per cent cant by Colonel Colone f b Wall Wait alt re- re The new Lon cw-Lon o lb d-lb tuo Is for rOl the bonds being convertible Into stock of the company at 20 a n share share Th The fhe capital stock of oC the 0 company was re cent Increased by shares r shares of the Increase heln being set aside It for lor redemption of the bonds As th the company's compans stock Is now soiling selling aroun around 26 a share It i goes without saying that tha I unless an unlooked unlocked for slump should 11 Intervene Inte ene the new flOW bond Issue will b be rb entirely converted Into t stock leaving f the company with Its immense works work Y T entirely ly paid for and the company compan free tree f tom irma irom debt I Look lukI Like lie lIn Tint It I looks like pure flat fiat fat tune o oa of a million and a n half hal of dollars In real real- r that sum the company is out only the cost of Issuing a few bonds and stock certificates And in addition additon to that every ery stockholder who takes a bond and converts it into stock makes a clear cear profit of something 1 like 1320 provided always that the stock H goes CS no lower than It is now c aJ ally there would be a limit to which v such an operation could be carried successfully but with wih the enormous product production n Utah Copper is now making and the dividends In prospect It Is be bel believed be- be l ved that the will wi hold close to Its Us present level le l until it goes hl higher her t. t The rhe plan differs from the celebrated Mississippi bubble in that Utah Uth CopPer Copper Copper Cop Cop- per has expended or will wi expend in Improvements an and developments the sum represented h by the bonds And Ant the profits on the stock are arc paid In anticipation antici antici- pation paton of the from production which those Improvements and developments develop ments make possible Utah Copper stockholders of record I February 7 i will wi have ha until March 1 to subscribe for foi tot their pro tata ata lata share of the new bond hsue issue FI Jm present appearances appearances ap ap- ap it will wil require possession of about shares of stock to bo be entitled en- en titled to purchase one GOO bond which can bo be Immediately converted Into 2 25 shares of ot stock Work ork at Mill III Tho he Is pushing work J I t company no now on tha tho uncompleted portion porton of ot tho Gar- Gar mill mil Eight of- of tho- tho 1 12 5 sections are re in operation and the ninth section wilt will 11 go Into commission In a afew Cew few days the Uie oth other othar r three three following as rapidly as possible Then with what IB is handled d at the Copperton mill mUl the company will be treating tons of ore a U. 0 day day and producing something like Ble pounds of copper a month mouth The Tho cost of or production being around eight cents a 3 pound It St Is not difficult to the profit It should I. approximate I mean nean r than l 4 a share sharo net earni earn carn- ings i 1118 f |