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345 



PORTION OF INTERIOR OF MILL, SHOWING HERTZ JIGS FIJR COARSE CONCENTRATION 



WHAT THE COMPANY PROPOSES 

 TO DO. 



With a practically inexhaustible supply 

 of good milling ore; with water power 

 sufficient to mill 5,000 tons of ore per day ; 

 with the expenses of mining and milling 

 the ore reduced to a minimum, the proper 

 course to be pursued resolves itself into a 

 simple business proposition. 



The officers and trustees of the company 

 are men of wide and successful experience 

 in conducting large business enterprises. 

 They have therefore decided to meet the 

 situation in the only logical way, by largely 

 increasing the ydarii and output of ore. 



They propose to increase the capacity 

 of the concentrating mill to 650 tons per 

 day ; increase the capacity of the saw mill 

 to 100,000 feet per day; fully develop the 

 water power bv building a large masonry 

 dam and installing a high pressure hy- 

 draulic pipe; install an electric tram- 

 way in the deep level tunnel; erect a 

 smelter for reducing the product of the 

 mines to "base bulHon," and push the deep 

 timnel to completion as rapidly as possible. 



These improv^ements will not only in- 

 crease the profit on each ton of ore mined, 

 and increase th^^ output of metal by over 

 eicfht times, but thev will, when completed, 



make ilie Ethel Consolidated Mines one 

 of the largest and best equipped mines in 

 the world. 



THE COMPANY AND ITS PROPERTIES. 



The Ethel Consolidated Mines is a cor- 

 poration organized under the laws of the 

 State of Washington. The capital stock 

 of the companv is only $3,500,000, of 

 which $3,000,000 is 7 per cent Cumulative 

 Preferred and $500,000 Common. The 

 shares have a par value of $1.00 each, and 

 are fully paid and non-assessable. The 

 Company is absohitely free from debt. 



The Preferred stock has a prior lien on 

 all the assets of the company for both 

 principal and interest, making.it as safe 

 as a bond. Seven per cent per annum 

 must he paid on the par value of the pre- 

 ferred stock every year before the common 

 stock receives any of the profits. The 

 surplus, if any, is then divided p?v rata 

 among all stockholders. The present earn- 

 ings, however, are sufficient to pay 12 per 

 cent per annum on the entire outstanding 

 capital stock. Five hundred thousand 

 shares of the Preferred stock have been 

 placed in the treasury to be issued as 

 needed and the proceeds used exclusively 

 for enlarging the plant and in other ways 

 developing the properties. 



