Show looks like extra king ton U ividene for the ten day period july 6 to 15 inclusive shipments from tile the silver king consolidated property at park city amounted to 1259 tons ot of a gross value of and which netted the company an average of 0 a ton or the gross value of each 0 of the different metals contained in the 1259 tons ot of ore was as follows lead silver copper 2099 gold 1038 each single ton carried an average of ounce gold ounces sliver silver 31 pounds of copper and pounds of lead it is quite possible that several extra etra dividends will be paid by the silver king consolidated soli dated before the end ot of the year as the company Is now sending out an average of sixty sitty tons a day mak mah ing the daily income close to 2500 tiie the regular quarterly dividend rate is ten cents a share and requires 6 37 5 82 0 there being shares outstanding from two more regular dividends that will be declared and two extras that will probably be declared this year the stockholders will receive to date the company has paid in dividends A face ot of first class ore forty feet wide nide is exposed in the main ore fissure 0 of the silver king consolidated at the depth of 1625 feet while above that depth there is a great amount of ore developed in the various workings the tha deepest workings in the property are on oil the 1800 foot level where pros peeling along the quartzite limestone contact is in progress this vein on this level is in the quartzite where it is strong and carries in places nice bunches and streaks ot of high gra grade a ore with indications very favorable for or opening a 9 good shoot of 0 ore the development work being done on the 1800 level is being watched with interest because of the expectation that big orell nolies will be found while ille the property is in excellent physical can condition it is the policy of the management as announced by president solon spiro in the last annual report to adjust the output according to the metal marketa market arid iid the requirements for operating a andi dividend purposes purposes to keep a larse lara reserve 0 of ore ready for extraction quickly at any time and to maintain a good sized cash reserve following this policy the output is being limited to the average of sixty tons a day but the income is sufficient to warrant the expectation pec tation of two extra dividends this year production in 1914 amounted to dry tons for cheli the company received an average of a ton as against this month in addition to the present productive area ot of the silver king consolidated holdings the company possesses more extensive holdings of virgin ground in which the possibilities of finding and developing other big ore bodies are considered excellent but no extensive operations toward that end have been undertaken as yet utah mining news |