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Show CARDIFF DECLARES iTiyiiEi Aggregates $125,000 and Is Payable to Stockholders on October 1. A dividend of 25 cents a share was declared de-clared yesterday at the meeting of the board of directors of the Cardiff Mining & Milling company. Th dividend is payable to took holders of record of September Sep-tember 25, and the books for the transfer trans-fer of stock will close on that date. They 'will reopen October L The dividend, which Is the initial dividend by the Cardiff Car-diff company, aggregates $125,060. The Cardiff company encountered its bonanza ore shoot last October, and since that time the ore body has been opened up along Its strike for a distance of 225 feet from whern first cut. The drift was-' driven through solid ore throughout that distance The ore body haw an average thickness of about twenty feet. The ore body has also been raised on more than tf)0 feet and a winze was recently sunk to a depth of 100 feet through solid ore. The recent storms in the Big Cottonwood Cotton-wood canyon i mpeded shipments to some extent, but from now on the company will make every endeavor to bring the dally shipments up to 125 tons- Due to the machinery that has been ordered or-dered falling to arrive on time, the mining min-ing Is still being done with hand drills. The transformer which is to be used has arrived at the property, and as soon as the remainder of the machinery arrives the work of developing the property with power drills will start. Every effort is being made at present by the management to connect with the upper tunnel, and a raise Is being driven for that purpose. This will solve, the ventilation ven-tilation problem, In the opinion of the management.- and will also allow the miners an easier means of entering the main workings. |