| Show MAMMOTH STOCK DEAL William McIntyre Sells His Interests Inter-ests For Over 250000 GOES TO SAM flINTYRE t WHO PUTS TIP THE CASH FOR 103000 SHAKES t New Board of Directors Elected Thomas W Jennings and Samuel McIntyre Jr Chosen A Div dend of 80000 Declared Yester dayMakes 1 Total of 136000 t William Mcintyre who has been at the head of the great Mammoth meat me-at Tmtic for years has closed out all his interests in the mine and stepped down and out He did this yesterday in consideration of a little over 230000 for which amount he transferred all his stock amounting to 103000 shares to his brother Sam McIntyre The deal was a cash transaction and with this block added to what he already owned Sain Mcintyre has a controlling foot Interest in the mine his holdings Ing up to something like 200000 shares there being 395000 shares issued out of the total capitalization of 400000 shares The sale has been pending since last Thursday evening when the McIntyre eveng brothers got together to talk up the proposition A few subsequent conferences I confer-ences were held and yesterday the deal was formally consummated The directors of the company met in the afternoon where the resignation of William Mclntvre as president of the corporation was received and accepted hereupon Sam Mcintyre was elected to the vacancy with the additional 1tor 1i flh of general manager with full power vested in him to act in all affairs to the which fairs pertaining company whlih official capacity come within his ofcal cpacl Thomas W Jennings and Samuel Me Intyre jr were Is elected to fill va cancies in the board of directors The first official act of the new board of directors was performed by declarIng declar-ing dividend No 49 of 20 cents a share amounting t n total of 80000 which amountng I made payable July 1 the books of the company closing on June 24 and reopening opening on the day set for the distrlbu ton of the velvet among the shareholders share-holders The dividend declared yesterday will swell the total amount paid by the company since its incorporation to the immense sum of 1360000 Out of the 80000 Sam Mcintyre will draw dawn as his share 539000 which alone will be a big installment towards paying wi fo his newly acquired interests I inter-ests in the great Tintic producer The sale Is one of the mot important consummated in Utah this year and I means a great deal to eve stockholder stockhold-er In the company When the news of the sale was spread about the streets yesterday afternoon that it current ternoon rumors were tcnon rmors is the intention of the new manage I inteton ment to close down the great mill which has been grinding away on the I ores of the mine for years It was learned from one of the directors di-rectors wa that there was nothing of the tere kind contemplated There will be no radical departures from the old methods meth-ods taken right away except that all rght the higher grade ores will be shipped I to the smelters direct for treatment smetef while only the lower grade ores will b milled It Is not at all likely that the I mill 1 I show a deficit in the treat and = o the lowgrade ore mont of the lowgrae o 1 i i lone as it will nay the plant will be kept running right along as in the past Heretofore the mill has concentrated all clasps of ores The mine will be worked for all it is I worth The new president of the intention to company says it is the intentifn f regular dividends hereafter keep up kep and he expects to b able to have them come along in amounts equal to the I one cme declared at yesterdaYs meeting |
