| Show PARK UTAH POSTS DIVIDEND MINE GROWS BIGGER AND RICHER constantly A dividend of or 15 cents a share was de dared by the directors of the park utah mining company on the ath instant payment will be made on october 2nd and to stockholders of record september when the transfer books oaks close with this distribution the company will have paid a total of the initial disbursement on dividend account was made by the company last christmas when 5 cents a share was paid for the first two quarters of the present year the amount was fixed at 10 cents a share according to information released by general M manager george W lambourne the mine is growing bigger and bette ter all the time the last tons of ore produced gave the conla mcany iny a net return of better than 39 a ton the ore ship ments ants average 50 ounces of silver a ton the main big ore shoot has now been opened for 1300 1200 feet ft on its strike on the 1500 level the 1400 level drift is within 75 feet of the face on the 1500 level for some distance stance the he 1400 level drift has been following b three and a wf alf feet of ore from which the lowest assay has been 80 ounces ices and from that up to ounces of silver ter per ton toil raises and drifts have been connected up to the 1300 level and development work is now starting on the 1300 level A has also just been started down in the ore from the 1500 level the first round of shots fired in the broke ore that contained about ounces of silver per ton production is now being made at the rate of to tons of ore a day this will be increased this month to ito tons toils or better since the extensive construction work at the mine is nearly finished the ontario drain tunnel through which the ore is crammed tram med has been electrified by the company and is ready for operation of ellec ore trains when electrical starts all of the ore will be drawn through the ontario tunnel to the daly west shaft from where it will be sent direct to railroad cars at park city at ait present ore is being crammed to the portal of the ontario drain tunnel and hauled from there to the railroad at heber by wagon which transportation route will be discontinued and a large ha hauling tiling cost saved when the new electrical trains start surface improvements are also nearly finished and will all be complete this month these improvements include a boarding house to accommodate men modern change room with showers and steam heat a large recreation hall and the ground improvements which include a water system and parking around the buildings |
