OCR Text |
Show STATEMENT IS MADE I BY COLORADO CO. Tho following statement has been "I received by the shareholders of tho Colorado Mining company, under date of September 10. "The hoard of directors toda' voted vot-ed to pass the regular quarterly dividend, divi-dend, bQlleving It to be to tho beat interests of tho stockholders to hold tho present surplus of approximately 570,000 In reserve for development now In progress and contemplated, rather than deplete tho treasury by payment of dividends and risk the possible necessity of levying assessments assess-ments for development purposes or closing the mine, should new ore bodies not bo discovered within a fow months, "The last month's earnings were but $2000 and tho shipment of alHci-ous alHci-ous ores has been temporarily suspended sus-pended pending the promised" early completion of a mill to be erected in Tlntic by the Knight investment interests, in-terests, which should effect n saving to tho companv over smeltor rales. "Until the mill is prepared to handle han-dle tho Colorado low-gratle slllclous products the company's earnings will bo still further reduced, as nothing but lead ore will be shipped in tho lntdrlm, and It may be necessary to draw heavily on the present reserve for development purposes. Respectfully, Respect-fully, ".JESSE KNIGHT, "Presldont tho Colorado Mining Company." |