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Important Part is Played Maas wniiAa Wa eal d Laue, DAIURDAY, MAY 14, 190 - PAGE TWENTY-THREE eologists In Rouyn- Quebec 'Geologists Played a Most ouyn-Quebec District libpoutent Part in Opening In Preliminery-Report lasued. in October 1922, by Ontario Bureau of Mines, Cyril Knight Pointed Out Apparent Existence of Two Great Gold Belts in Northern On. tario; 25 to 40 Miles Apart, Which Follow the Contact canies. $a ° Geolggists played a recidedly important part in opening up. the Rouyn-Quebec area. It was estab- lished 'the geological work of Brock, Wilson, Burrows, Bancroft, Cooke and other" geologists that a band of "metamorphosed sedl- mentafies varipusly called Lower Huronian,- Pontiac schists, Temis- kaming: series, ran east and west; beginning .some 30 miles west of Swastika 'station and continuing without a break to the Bell river, a distance' of about 160 miles, In Quebéc, the northern limit of the metamorphosed sedimentaries' ot this hand, crosses the townships of Dasgserat, Boischatel, Rouyn, Joanne#, Bousquet, Cadillac, Maiar~ tic, Dubuisson," Bourlamaque. And their importance ds to prospecting now comes fin, . po In a'preliminary report issued 1n Octobeg 1922, by the Ontario Bur eau of. Mines, : Mr, Oyril Knight pointed out the parent existence of cen Temiskaraing Sediments and Keewatin Vol two great gold belts in Northern Ontaro, 25 to 40 miles apart, the northern one comprising the Por. cupine, Night Hawk, Munro and Lightening Creek deposits, while the southern one contained Mid- lothian, Matachewan, Kirkland Lake and Larder Lake deposits. He pointed out that these two belts follow the contact between the Tentiskaming sediments and the Keewatin volcanics. No explanation or theory is advanced in this con- nection, but is given as a statc- ment of fact from observation. 2 Disco The extens' n into Quebec of the Kirkland Lake belt of Temiskam- ing sediments is so well marked, and had been so well delimited by Wilson and Bancroft that the state- ment of 'the Ontario Bureau of Mines was a strong contributary cause of the interisive prospeeting which took place along this contact 1922 and in 1923, vesulting fo these numerous interesting discov. eries. -This development was greatly encouraged by Cooke's statement in the Summary Report of the Geological Survey for 1922, pub- lished in 1923, in which he says of this zone: "The geological work of the past season and the discov- eries of gold, suggest that the most favourable prospecting ground of this belt is to be found in the Temiskaming series, probably within a mile and a half of the northern. contact, and in the band on Keewatin lavas and tuffs, 4 or 5 miles wide along the north sige of the contact," This meant a belt 5'to 7 miles wide and 100 miles long from Dasserat to Vauquelin, Stacked . y By 1924 most the promising ground in all these townships con- stitutng the zone outlined by Cooke, was staked out, so that the prospectors had to go farther atield towards the north and in consequ- ence new discoveries were made in Montbray, Duprat, Dupayquet, Des- tor, Dufresnoy and even. further afield, to the north of the Trans- continental Railway, in Desmelo- izes, Guyenne, Trecesson, Dalquier, Landrienne, aBrraute, Carpentier. Some of these discoveries to the north of the railway have been suf- ficiently examined to ascertain their economic value, at least as promising prospects; others are of recent finding, yet altogether thes are-sufficlent to show a widespread mineralization throughout tae whole area occupied by Keewatin rocks. It is also to be noted that in his in Quebec In the latter part of i mm report on the Turgeon-Harricana -- -- -- . 'A. E. BECK & COMPANY LIMITED 217 Bay Street Toronto Telephone: Elgin 4273 A. E. Beck, B.Sc., AM.E.IL.C. C. St. Clair Parsons, B.Sc., AIL.M.M, Consulting Mining Engineer Specialists in Canadian Mining Securities Concise and informative reports are prepared free of charge for clients who desire to ascertain the respective mer- its and possibilities of their mining se- curities, : Consultation Is Invited Send For Latest Reports Brokerage Facilities Unexcelled | k A. E. Beck & Co., Ltd. 217 Bay Street, Toronto 2, Ont. Please send report on .,.:su:,.:, Mineto--Name .......00000 00.00 Address... 0a, ses sss | desire is cuti Bog * and wi!l Le realized by those who | are Basin, Dr. Tanton mentions the analysis of a carbonate seamed with quartz which *e collected on .the west -bank of the Harricana river 14 miles below Allard Portage, as having ylelded $75 a ton in gold and the presence of tellurium. - Widens Field 5 All this tends to show that the mineralization of the Keewatin rocks is not necessarily limited tu the neighbourhood of contagts with sedimentaries, but that it is wide- spread, and that metallic constitu- | ents, may be found throughout the whole area occupied by them. A glance at the map shows that in the sescalled *'gold-belt" which was supposed to follow the com- tact, the Keewatin area is dotted with numerous outcrops of imtru- sives consisting of round masses, elongated masses, and dykes of sye- nite porphyries, granodiorite, aplites and granites of various grain. These are, probably apophy- ses, tongues, shoots and necks, sent out from the large batholiths, deep seated below the Keewatin volcan. ics, which thgy pierced and in- truded. It was Dr, Collins who pointed out to me in the spring of 1921 the probability of the Influ- ence of these comparatively acid rocks on the mineralization, in- stancing the Kirkland and the Por- cupine conditions, He concluded that it would be opportune to pay particular attention to their map- ping. : Change in Theory So that the occurrence and the influence of the band of precam- brian sediments on the mineralizu- tion in this vast region does mot seem to be as significant as it first appeared. The: presence of intru- sions of rocks of the syenitic and granitic families has retained its importance. Such intrusions seem to be much more numerous in the | | vicinity of the zone of contact but the reason for this is that both the prospecting activities and the geo- logical mapping work, have been more intensive here than further north, and there are as good chance ol occurrences of such intrusions and of mineral deposits throughout the whole of the Keewatin area, Their presence will be revealed as prospecting and geological mapping advance, Instead of a mineralized belt five miles wide by 100 miles long in Auitibi, we have an area ot 10,000 square miles of Keewatin rocks in which the miucral poteu- tialities and the possibilities of dis- cceveries are every bit as good as in the southern fringe BECK & C0.'S AIM 1S T0 CARRY-0UT 'THEIR OBLIGATIONS Say Mining Brokerage Calls For High Specialization With Duty to Fatrons The business of the mining broker is a highly specialized one, requiring a wide knowledge of financial matters in addition to & full appreciation of the special ob= ligations of the broker. Mining en. gneering is a combination of sciences developed with due regard to the economic aspects of the ins ductry of mining--itself a highly complex industry. The satisfactory blending of the knowledge and ex- perience of the mining engineer has hecome 'a virtual necessity in Canada, where, concurrent with | rapid expansion of the mining in- there appre dustry, growing has been a rapidly ciation on the part {of the publi¢ of the importance and ihilities of the basie z in this country. 1 0! developments it cil in a desire to vwonlih that is being witly increasing leyond our time. This ly a reasonable one Hime ultimate | conut able to recognize the oppor- tunities that offer or if their knowl edge of mining affairs is insuffis cient to enable them to sift and weigh---separating the wheat from: the chaff (and there is much of both)--then let them seek com- petent advice, Competent and experienced en- pineers command high fees. It is not usually practicable for invest. ors or speculators in mining shares to obtain the technical opinion of a ming engineer before making coments --~ loss would free quently be avoided, however, if this were «one, ? Messrs, A, E. Beck & Co. have. attempted to bridge the gap and are meeting with outstanding suc- cess in fulfilling the requirements of investors who would share in the progress of ihe mining indus- try in Canada. Mr. A. E, Beck is a graduate. in engineering, of Mc- Gill University and has met with very substantial success in the north country and in business in Toronto, where his knowledge ot financial matters and wide invest- ment experience have proved most valuable. Mr. C. St, Clair Parsons, a member of the firm, is an ex- perienced mining engineer who has intimate knowledge of practically every mining camp and mine in On- tario and Quebec and has examined' many of the better known mines in Manitoba and British Columbia. Mr. Parsons studied mining engin- eering at the University of Toronto before going to England, where he obtained his degree. He had valu- able mining experience in Africa, Spain and the Kast before return- ing to Canada fo take part in the rapidly progressing mining indus- try of. this country, He has spent five: years in the various minlog camps of Canada. . Cliests of the firm of A. E. Beck & Co. find that their brokerage service is unsurpassed and authori- tative reports are submitted on Canadian mines and mining com- panies to clients who desire them. No fee is charged for this service. A feature of A. E. Beck & Co.'s business which appeals strongly to their clients is that lists of hold- ings of mining sechxities, if sub- mitted to them for analysis, are studied personally by Mr. Parsons, who 1s able to offer advice that may prove highly profitable to the investor. A unique opportunity is thus afforded to those who desire to participate in mining progress and to share in the success of the industry, to avoid disastrous losses and to eliminate a large propor tion of the gambling element from a business which {is inherently speculative 'apart altogether from the human element. . wm n-- He ts NEW ISSUE - St. Lawrence Paper Mills Company | -of the new. Mr. N. A . $19,000,000 A 6% Cumulative Preferred Stock 190,000 Shares of Common Stock Common Stock Subscription Warrants Offered in Units yepresented by ly paid Allotment Certificates. Each unit comprises one share of 6% Preferred Stock * (par value $100), one-half paid; one share of Common Stock without par value, fully paid; and a Common Stock subscription warrant entitling the holder, after price, to subscribe, on or before April 15, 113, yment of the balance.of the Allotment Certificate or eat share of Common Stock at the rate of a share. . A simultaneous issue of these securities is being made in the United States, Great Britain and oa the Continent. The Preferred Stock is to be preferred over the Common Shares as to cumulative cash dividends at the rate of 6% per annum and as to assets in the event of voluntary liquidation to the extent of $105 a share and of $100 a share and EY Dividends are to be payable A 1928, at par at any branch of the Bank of Montreal in a The sa d thirty days' notice at $105 a share and accrued dividends. If four or more quarterly dividends, consecutive or not, on sed dividends, and in the event of involuntary liquidation to the extent" pril 15, July 15, October 15 and January 15, cumulative from Apri] 18, id shares are redeemable as a whole or in time on at a ator shall be in arrears, then until all such arrears have been paid and the current quarterly dividend declared, the preferred stockholders are entitled as a class to elect one less than a majority of the directors, and to have one vote for each fully paid share in respect cf all other matters, The certificates for the fully-paid Preferred Stock and Common Stock and the warrants represented by the Allotment Certificates are to be delivered to the respective holders of the Allotment Certificates on surrender thereof, upon payment of the balance of the Allotment Certificate price or in any event not later than December 3], 1929. Allotment Certificates and erred stock, when delivered, transferable in New York City, Boston, Montreal and Torento. Stock transferable in New York City, Montreal and Toronto. City or Boston payable in United States currency at par of exchange. The Qompany has Common Stoc Commen Dividends on Allotment Certificates and Preferred Stock registered in New York d to make application in due course to list the Allofinent Certificates, the Preferred Stock when delivered and the on the New York, Montreal and Toronto Stock Exchanges. CAPITALIZATION~The capitalization of St. Lawrence Paper Mills Company Limited upon completion of the present financing will be as 6% Cumulative Prefegred Stock ($100 par value) Commen Stock (no par value) Authorized $19,000,000 1,000,000 shares** Outstanding $9,500,000 500,000 ,000, shares #$9.500.000 to be fully paid and outstanding immediately; after October 15, 1928, $14,250,000 will be fully paid and outstanding; and after the final call, if ma *%0f the 500,000 shares of , $19.000.000. mmon Stack authorized but unissued, 95,000 shares are reserved aghinat the Allotment Certificate subscription orm. warrants and 105,000 shares are reserved against other subscription warrants identical in The following information has been summarized by Mr. Ernest Rossiter, President, St. Lawrence Paper Mills Company Limited from his letter dated May 9, 1928, and is subject to the more complete information contained therein: THE COMPANY--St. Lawrence Paper Mills Company Limited has been organized under the laws of the Deminion of Canada and has acquired the entire business and assetsandhas assumedallef the liabilities, except funded debt which is being retired, of St. Lawrence Paper. Mills Limited; the latter company having been succeniully engaged in the manufacture and sale of newsprint since June, 1923. The plant, located at Three Rivers, Que., consists of a four-machine balanced newsprint paper mill of 300 tons daily rated sapieity (recently increased from 150 tons), advantageously situated with respect to pulpwood resources. power, water supply, labour and transportation both by water and rail. The entire output of the mill for 1928 has been sold under contract to 41 publishers located throughout the United States and Canada, and a contract has recently been entered into for the sale of 45,000 tons of newsprint a year for ten years beginning in 1929. In order to handle this business the company proposes to install two additional newsprint machines with a combined rated capacity of 150 tons. increasing the capacity 12 450 tons a day, or about 135,000 tons a year The Company believes that sales will justify a further increase of ity before 1930, and in that event it proposes to install two additional newsprint machines, thus further increasing the capacity to 600 tons a day or 180,000 tens a year. The Company's present pulpwood resources as estimated by Mr, R. O. Sweezey, fr Engineer, total approximately 9,000,000 cords, which, with pulzwoed contracted for, will be sufficient to last for at least 40 years operating at the full capacity of 180,000 tons a year. MANAGEMENT--Mr. N. A. Timmins, president of the prede- any, will be chairman of the board of the new company ossiter, vice-president and general manager of the old Jill be president of the new company. These gentlemen, h the other executives who have been responsible for of the old company, will continue in the management ° . Timmins and Mr. Ernest Rossiter whe owned substantial amounts of the Preferred and Common Stocks of the the success predecessor company, have invested in the Common Stock of the new Company an amount in excess cf the cash distributable upen their shares in the predecessor Company. CALLS ON ALLOTMENT CERTIFICATES--The Al Certificates upon issue will be partly paid. The balance of $50 in . respect of each unit is payable in two installments, $25 on October 15, 1928, and $25, plus accrued dividend, on call by the directors en sixty days' notice not earlier than April 1, 1929, and not later than December 31, 1929, : On payment of the last installment of $25 per unit, or if the said last installment shall not have been called on or before 31, 1929, the fully paid Preferred Shares (being three-quarters of one preferred share per unit, in case the last installment shall net have en called), all the Common Shares, fully paid, and all the Common Stock subscription warrants represented by each unit will be dis- tributed by The Royal Trust C vy, the Depositary "thereof, to the respective holders of the Allotment Certificates, in accordance Ya vig thereunder. Arringements will be made for the adjustment of fractional shares. Dividends on the fully paid Preferred Shares deposited as aforesaid will be paid to the holders of the Allotment Certificates, PURPOSE OF ISSUE--The proceeds of the first nt in respect of the Allotment Certificates, the proceeds of 180.000 Com- mon Shares purchased by certain officers of the company above re- ferred to and the proceedsof 130,000 Common Shares which have been offered for subscription, are to be used by the for the acquisition of the business and undertaking of the Com- pany, to provide funds for develop of timber ces and for other corporate purposes. The installment of $25 per unit payable on October 15, 1928, will be used by the Company to pay for the in- stallation cf two additional newsprint machines. The last install- called only in case the Company has determined to install the second two additional newsprint machines, to increase the capacity .to 180,000 tons per year. EARNINGS--Net earnings of St. Lawrence Paper Mills Limited (predecessor company) after provion for all taxes fave been as followss= For the year ended June 30, 1927 For the year ended June 30, 1928 (Nine months actual and three months estimated) Before Depreciation After Depreciagion $1,025,388 $610,425 1,230,000 750,000 Annual dividend on $9,500,000 new preference shares to be immediately outstanding, $570,000 The recent i in the pred the first three months of 1928. Based on the sale of the Company's output at current prices for newsprint and on operating costs as estimated by Mr. Hardy S. consulting i Net t avail- able for dividends Estimated sales (tons) evs.. 31,857,000 000 ' ) 135,000 (6 machines) 180,000 (8 machines , tl \ that net profits after all charges including depreciation and depletion, and after {!] taxes, on the basis of the proposed capitalization of the new company, will be as follows: . y's capacity from 150 tons per day to 300 tons was not fully reflected in the earnings until -- Annual Dividend Times L such dividend with $19,000,000 amd outstanding $1,140,000 27 2.25 DIRECTORS--The following gentlemen, among others, have consented to act as Directors:-- N. A. Timmins, shay . Pres., Hollinger Consolidated Gold Mines Ltd. . M. Chadbourne. Chairman, Board of Directors of Abercrombie and Fitch Company i, ' Terms of Payment: $78 Sir Charles Gordon, G,B.E., President, Bank of Montreal Lt.-Col. Herbert Molson. CMG, MC, E. R. Woed, FE Meredith, RL A. A ey Director, The Eastern Trust Ce. 4 Montreal We offer these Allotment Certificates for delivery on or about May 21, 1928, in the form of temporary Allotment Certificates. r unit and accrued dividend on one-half share Preferred Stock on delivery of Allotment Certificates. This amount provides for payment in full of one-half share of the Preferred Stock, one share of Common Stock and the Common Stock subscription warrant comprised in unit described ' above. $25 per unit on October 15, 1928. $25 per unit and accrued dividend if and when called by directors on sixty days' notice not earlier than April 1, 1929, and not later than December 31, 1929. | L] Total cost: $128 and accrued preferred dividend per unit when all install- ments are Dominion Securities Corporation ° Flood, Barnes & Company Ci Limited Limited . R. A. Daly & Co. Limited Matthews &¢ Company Hanson Bros. Incorporsted : Fry, Mills, Spence & Co. Duncanson, White & Co. René T. Leclerc 3 Incorporated The statements herein have been accepted by us as accurate but are in ne event to be construed as representations by us. Vice Pres. The Canadian Bank of Cemmeres | 3 McLeod, Young, Weir & Co. Limited ~ Bell, Gouinlock & Company NE XS ET ---- $ WME SE bee a a ET A TE in aT 6 sa i ---- ab ----