BOOK 25_1955-08-01 to 1955-11-28 (missing 1954-02-15 to 1955-08-01)

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441 magnitude to warrant the installation of a processing plant relatively close to the mining operation (i.e., along Bayshore Highway in Redwood City or San Carlos), I will set up such a processing plant. If such a plant is built, there will be a decrease in the $27.00 per ton handling cost, which decrease shall be reflected directly in the determination of profit as indicated above. A decrese in the handling cost will also be effected even though we do not find it feasible to.set up our own plant, but do.find E a more economical plant to process than that which has been used by us to date. It is agreed that mining operations will commence within one year from the date that this f. proposal is accepted. It is zy opinion that there is at least 1,000 tons of ore on City property which contains approximately a � a 15 pounds of mercury per ton. Estimating a profit of approximately 020.00 per ton and stl that the City's share would be $10,000.00, I hereby enclose a check to the City of Redwopd City for 10,000.00', which represents an advance to the City as its share as indicated above. This advance is a guaranteed mimimum which the City will receive if it accepts my proposal as contained herein. Councilman Spillers moved that the bids be referred to the Cinnabar Committee for further study, seconded by Councilman Britschgi. Mr.�Walter Postal, attorney for Piggott and Dinely, addressed the Council and was informed that this was not a public hearing. Any question asked would be asked Yiy the Cinnabar Committee. Councilman Granger stated that he had received a telegram from George A. Nugent, President of the Indian Monument r .. Mining Corporation, and asked that it be made a part of the record., The motion carried. "Councilman Carl Floyd D. Granger - 11 Chairman Special Mining Committee County Court House, Redwood City, Calif. REPORT Current news items are disturbing to us as they indicate City Council { favoring Oddstad proposal on Sutlstaf Park mercury operation. Recent j accounting by Oddstad Company on Farm Hills operation shows that average production past period was less than fourteen pounds mercury per ton and average price was less than three dollars twenty five cents per pound. It is reasonable to assume same values continue in Stulstaf Park area. Computed on this basis our operation as bid would bring a return to City of approximately double the amount that would be received under Oddstad bid. If are values proved less the ratio of return under our bid would t be even more favorable to City Treasury. Our bid is based on gross guaranteed return regardless of our operating costs. Oddstad bid a snt percentage offered 'on net profit could w6ll mean little or nothing if , ore values are'low and operating expenses high. Our mining experience background reasonably assures profitable operation. We are certain any unbiased comparative analysis of two bids will clearly establish Miss advantage to City of our bid but if there is any question respectfully it request date be set for public hearing. George A. Nugent President Indian Monument Mining Corporation, was won in Gilroy at the Veteran's of Foreign Wars' parade when the temperature was 1060. 1� Councilman Granger received the trophies from Eddie Garcia and Louis Snider. REPORT FROM CITY ATTORNEY REGARDING LICENSE FEES, SECOND HAND STORES. The Attorney's office reported that they had been advised by the City Collector that San Carlos charges 040000 i( per year.- and Burlingame probably 025.00 per year. Ih their letter they stated that apparently some confusion exists with respect to the 6100.00 deposit put up in the form h of cash or a bond by any new business except second had stores and similar businesses as a guaranty that they will remain in business for a period of six months, and the $50.00 charged to second hand stores, which is not a deposit, but is the license fee for such a business. The deposit of $100.00 returned to the business after the six-month per period, while the $50.00 paid for second had stores and similar business licensed under 1