Show midyear dividends of from utah s silver lead producing mines ordered paid midyear mid year quarterly dividends by the larger silver lead minin mining Z companies area are now being announced and ordered paid between now and july 1st ast three companies will pay a total of to their shareholders the silver king coalition mines company which made its first disbursement of the year in january early this month posted its third quarterly disbursement of a share aggregating for payment july 1st ast to stock of record june this payment will bring 6 the grand total of dividends up to notwithstanding the outlay in the purchase of silver king consolidated it is stated that after the july ast alst distribution is made the treasury reserve will still exceed a half million dollars referring to mine conditions which are described as excellent managing director W mont ferry reports that high grade ore has recently been found and still is being disclosed in fissures in the weber quartzite underlying the f limestone from which practically all of the companas comp anys past production of has come this new disclosure is rated as being of the utmost importance not only to the silver king coalition but to the district as a whole as it opens up possibilities of inestimable value through new exploration to geologists mining men and engineers who know that the big production of the ontario mine with a record of over came from the weber or ontario quartzite as well as that of the park utah this announcement will have unusual interest whether the quartzite underlying the limestone of the king coalition would be mineralized along the fissures so productive in the upper levels has been a speculation of absorbing interest park city mining smelting smelling Sm elting also in line A dividend of a share has also been declared by the park city mining smelting smelling Sm elting company payable july 1 to stock of record june 14 this disbursement totaling the third quarterly dividend of the year will bring the grand total of disbursements of the properties owned by the company up to at the annual meeting the following board of directors was elected moylan C fox oscar W friendly adolph E G hanke of new york otto Lue luedeking dking of cincinnati G W lambourne La mourne edward rosenbaum harry of boston officers reelected elected re by bv the board of directors were george W lambourne president pre aident and managing director moylan C fox vice president oscar N friendly general manager D C murphy treasurer treasur W A dunn secretary and george S knieger superintendent of mines available balance of the park city mining smelting smelling Sm elting company as of may 1 totaled in cash and united states bonds tintic gintic standard to pay directors of the tintic gintic standard mining company have declared a regular 6 quarterly dividend of 10 cents a share and an extra 1 15 5 cents a share making a total disbursement of 25 cents payable on june 28 to stock of record jutie june 21 books will close at noon of june 21 this disbursement amo amounting to brings the grand total of dividends of the company up to not only will it be the largest payment to be made to stockholders at one time by the tintic gintic standard mining company but it will be the largest single dividend paid by any utah silver lead mine in recent years this is the third dividend to be paid by the tintic gintic mine during the year the first a regular quarterly dividend of 5 cents amounting to was paid on january 2 the second also a regular quarterly dividend payment of 10 cents a share with an extra of 5 cents amounting to was paid on march 29 for good reasons park utah passes directors of the park utah mining company voted the quarterly dividend due on july 1 the cash balance of this company as of may 1 aggregated z the following board of directors was elected at the companas annual meeting moylan C fox paul hunt adolph E G hanke of new york charles lan lange lane 6 e and otto luedeking 7 of cincinnati G W lambourne and edward rosenbaum mr lambourne was reelected president and general director mr fox vice president mr hunt general manager D C murphy treasurer and W A dunn secretary with the annual park utah report to be sent out to stockholders in a few days the accompanying letter will b be 1 e mailed at a meeting of the directors it was decided unanimously to omit payment of a dividend on july 1 1924 this action is best for the company under existing conditions when ore production began at the property the silver market was favorable and all efforts were made to produce the maximum amount of ore while silver was exceptionally tio nally high this was advantageous to the company but it made necessary the postponement of development work that under ordinary conditions would have been done in connection with ore production activities at the property since pittman act silver re purchases at 1 an ounce aunce terminated a year ago have been devoted chiefly to development and equipment work aa of great permanent benefit to the company has been done and has disclosed extensive additional ore deposits transport transportation has been improved through extension of the union pacific tracks to the mine about six miles ore production of the mine in in the last year has been almost entirely from development develops ent work when this work has been further advanced the property will be in condition to produce a greater tonnage at less cost than ever before |