Show I 1 uncle sam to pay dividend I 1 on monday the untie sim share holders he d their regular annual meeting ng at salt lake and elected a to board ead of directors listened to reports from supt bupt C 0 griggs and other officers of the company the report of superintendent griggs was optimistic it showed that the ex tent of the ore in sight is greater than ordinarily and that prospective results of future development dei elopement elop ment are unusual unusually kiy brg bright bt shipments of the year were vere 6 tons averaging 17 a ton this including low lom grade ore taken out in doi ig den development elop ment AN work ork the old directors and officials ot of the company were all re elected reelected The these seare are johndean john dern president tand and manager james chipman vice preal dent F D kimball treasurer F p TC 0 dern secretary VI p braffet and george hafercamp Haer camp all of those named are directors except F p C dern the fi fl lancial statement which was issued at the meeting held this week showed the receipts and disburser disburse nei mei ts in detail for the year en ending ding on june 6 h but belo v we give only the total claires rha company had a cash balance of 3 21 cents in the treas arv on june ath 1909 and the receipts for the year swelled this amount to 53 the total disbursements include ng ngo paid out in dividends were 71 leaving a cash balance on june ath 1910 of 12 37 on wednesday the directors of the company held an interesting meeting at which a 10 dividend or 2 cents per share ft as posted this dividend will be paid out on the of this month to all shareholders of record on the lath supt bupt 0 0 griggs who returned on wednesday evening after attending this meeting of the diorec tors states that in the future the un up cle sam will pay dividends quarterly this will give the shareholders an exceptionally good revenue from their stock and will enable the corn com pany to build up a strong reserve fund mr griggs ia is authority for the state ment that the uncle sam mine never looked better than at the present time the ore bodies have been opened up in such splendid shape that it is an easy matter to keep the prodoc tion up tip to a point where the mine will ear eari a eum sum considerably in excess of the quarterly dividend k before adjourning on wednesday th directors of the uncle sam corn coin pany followed out a policy which they lije he h e had under consideration foursome for some ti tuie ife and ordered the distribution of 41 shares of may day stock to tl e 0 shareholders of the uncle sam company this stock has been in the ure sam treasury for some time and ands the officers of the companies are unanimous unan amous in the belief that it will n ill be pest eat to keep the affairs of the tv two 0 c companies separate the distribution of ot the may day stock will mean that each uncle sam shareholder will re belve may day dav stock at the rate rat of 8 art s shares hares for each shares of uncle sam while the two companies were vi ere e albing enough money for the pay ment of dividends it was all right to have this block of may day stock in the treasury of the uncle sam corn com par pai y but now that one company is in the dividend paying class and the other in need afan of an assessment the officials feel that it is time to separate the trong from the weak the te may day d rectors at a meet ing held vester dav levied an assessment of 2 cents per share which wb I 1 ch will be ent to wipe ont out the in debt edness the company will find it necessary to install some new hoist ing equipment another engine will no bouat be installed upon the surface the hoist which is now in use having bean been damaged somewhat in the fire a althis t this mine a few eara ears ago until the money from the assessment comes info into the treasury the may MayDa daa will vi ill no doubt drift along without spending any large amount of money on de work but with the inseal lation of the new equipment the officials will map out an extensive campaign of development which will put the mine back in the listef dividend payers A mining deed from J C jensen et al to the schwab consolidated min ing company for the agneas agness and the agness Agnesi nos NosI 1 2 and 4 mining claims in the east gintic mining district has been heen filed with the county clerk of utah county the consideration named is 1 and other valuable alu able con 1 |