Show OAL Y WEST CO COTO COTO TO 10 fRONT RUT AGAIN Another Distribution of 54 or a Share Or Ordered Ordered Ordered dered for July 15 The directors of the com corn company company pany met Friday evening and posted the second quarterly dividend for this year ear in the sum of 30 a share or 54 Payment will be made on July 16 to stockholders of or record at the close of business June 30 Because the quarterly quarterly terly terl report issued about the middle of or orMay May did not show that the company com pan was earning Its dividends the impression impression sion gained currency that no more div dividends divIdends would be declared until after the mine had been connected up with the drain tunnel level To the stock stockholders stockholders holders who had reached that conclusion conclusion conclusion sion the action of or the directors Friday will come as asa a surprise I There seems to be no good reason I why the company should not continue I t to td pay dividends at the present rate in indefinitely Indefinitely Indefinitely definitely While It Is admitted that the present developed ore reserves In Inthe Inthe Inthe the property are not as large as they the might be it Is stated that the company will have no difficulty in more than meeting operating expenses notwithstanding notwithstanding notwithstanding standing the campaign of new develop development development development ment work that will be broadened as the months go by At the end of the first quarter and after allowing for the tue 1 payment of the dividend that was paid I April 10 the treasury contained a sur surplus surplus I plus of or Allowing that the company will only have made expenses during turing the second quarter the present dividend will reduce the surplus to But that sum Bum will be sum sufficient rient clent to meet the present rate of divi dividends dividends ends for another eighteen months In much less time than that with ordinary good luck the company will be able to finish the shaft connection through to the drain tunnel level and open and drain lenin the mine to that depth or more than feet teet on the dip of the vein be below b blow below low the present pre ent workings on the 1600 revel level levelA leelA A station is now no being cut on the 1700 level revel and a crosscut to the vein eln will soon sooil be under way at that point It will require about feet of drifting to reach the ore The drift on the drain tunnel level should reach roach the ledge within the next feet while hile about too 00 feet of work will make connections In the shaft The time when this work will be finished is uncertain but it will likely be close to ninety days |