Guanajuato Reduction & Mines - SOLDInv# MB5005
Or, Gr, Br
Various denominations. 6% Uncancelled Gold Bonds. Printer-Brown Lent & Pett.-NY. Some coupons. 2 red overprints. Popular state.
GUANAJUATO REDUCTION & MINES CO. GUANAJUATO
Address: Columbus. Ohio. Mines and mills at Guanajuato. Gto., Mex
Officers: C. L. Kurtz, pres.. Columbus. Ohio: Wm. G. Moore, v. p : Geo. D. Bounton, v. p.: Philadelphia: C. J. Kurtz, sec.-treas.; with C. J. Schlach- ter, Wm. D. Sherrerd. Robt. T. Moore, Geo. W. Chase. \V. G. Moore. G. D. Bounton and L. O. Bailey, directors. W. G. Wheaton, auditor: H. P. Smith, gen mgr. at Guanjuato: August McDonald, mill supt.
Inc. 1904, in Colorado, as a consolidation of several silver and gold mines in the Guanajuato district. Cap., $75,000; $1 par. Stock transferred at company's office, Columbus. Empire Trust Co.. New York, registrar. Annual meeting, first Tuesday in February, at Colorado Springs, Colo. Listed on New York Curb.
Bonds: authorized $3.000,000; outstanding. $2,800,000, first mortgape 6%. 20-year, $100. $500. and $1,000 gold bonds, dated July 1, 1904. due July 1, 1924; interest lanuary 1 and July 1, at office of the trustee. Empire Trust Co., New York.
Bond interest was deferred January 1, 1915, and operations temporarily suspended in August. 1916, due to the revolution in Mexico and also to the inability to secure cyanide and other supplies.
The company was unable to convert its product into cash on account of the Mexican revolution and defaulted, July 1, 1914, interest on its first mortgage 20-year 6% bonds: this interest was paid in January, 1915. On February 1, 1919. interest was paid for the period July 1, 1914 to January 1, 1915.
Property: a group of famous bonanza silver mines in the Guanajuato district.
Development: a total of 8,130 metera of new work was done in 1918. the largest footage in any one year. No new large orebodies were found, but indications for profitable ore were favorable.
In addition to the above reserves there is a probable tonnage of 138,022, averaging 242 grams of sifver and 3.31 grams of gold. The grand total of 834,560 tons compares with 870,444 tons in 1916, and 772.980 tons in 1917.
Equipment: includes the Bustos 160-ton stamp and concejitratinjr mill and Flores cyanide plant. Crushed ore is sent from the mill to the treatment works through 6,000' of 8" pipe. A new 200-ton mill with 20 stamps, ball-mill and cyanide plant is under construction.
Since April, 1918 mine and mill have been operating full capacity, the first time in 5 years. Normal output is 230,000 tons of ore per annum, and with silver at $1.30 an ounce, company should soon be able to make up for the long period of inactivity. SOLD