Show current comment on utah s mines a and nd prasit prosit prospects sects the district still continues to be the star performer among the various mining sections and has a new sensation to spring almost every day while a good many of the same are made to order many of them have foundations in fact and the increase in production bears strong testimony that some very successful mining is being done thattie Th that atthe the colorado and the sioux are still in prosperous circumstances is evinced by the dividend checks sent out on the both companies paying the regular monthly amount of eight cents per share this brings the total distribution for the colo rado company up to establishing one of the best records in the united states for so short a period the sioux is following closely the lead of the colorado and had paid more per share than the stock was selling for less than a year ago speaking of dividends brings to mind the stock dividend declared by the iron blossom during the month since the big strike was made over two weeks ago and the prop erty headed toward the dividend class iro iron ti blossom stockholders have been casting longing eyes toward the shares still left in the treasury the temptation proved too great to be withstood and accordingly the shares were distributed on a basis of ten per cent just what eff effect act this will have on the market price of the stock it is hard to say but it may sometime seriously handicap the operation of the property jesse knight has been soundly criticised criticized for adopting this course but he must feel reasonably sure that he had a big thing in the mine before he depleted the treasury the reports that the colorado mine in including the new smelter have been bonded to the international smelting smelling Sm elting refining kompany for a sum around have not been substantiated mr knight refuses to either confirm or deny the rumors beyond the statement that they have not yet been sold it is known that captain duncan macvichie and ernest woolley have been examining these interests very closely of late and the departure of mr woolley to new york on a secret mission has a very significant outlook should the deal go through it would certainly establish a strong foothold in utah for the new smelting smelling sm elting company the smoke of battle has cleared away and the big factional fight in the daly west household has resulted in an overwhelming victory for the mccornick bamberger contingent according to reports the fight was extremely bitter and aind the minority threaten to give the matter further airing in the courts just what will now transpire with regards to the proposed consolidation is a matter of conjecture and is a question which many stockholders are still anxiously waiting to be answered the annual report of the company has just been issue showing receipts for the year to have been and the disbursements at the cash balance on hand including the insurance reserve fund is given at ai the daly judge report for the past fiscal year has been released the treasurers treasur ers report shows a cash balance on hand december 31 of the earnings for the year are placed at and the total expenditures at the report contains many interesting details and gives some insight into the working affairs of the company the final chapter on one of most interesting mining dramas has been closed and the honorine mining company is no more the period for redemption has passed and it is probable that the creditors the buhl kimberly interests will take over the properties located at stockton utah it will be recalled that there was considerable of a scandal stirred up several years ago over the honerine and a number of the victims are still feeling sore in the neighborhood of their pocketbooks the proposition as it stands today is somewhat of a white elephant and the utah mining public will applaud generously if the new owners can pull it out of the hole in strong contrast to the condition in which we find the honerine is the honerine extension which is making a great showing in virgin territory above the water level the first car of ore reached the market last week and was settled for on the basis of 25 per cent lead ounces silver and sixty cents in gold per ton A second car of the same grade is now being loaded at the mine at the annual meeting of the boston consolidated soli dated mining company held on the in london an additional stock issue of shares was authorized and this will be offered to the stockholders at 1125 per share the annual report shows an expenditure for the year of the greater portion of which is charged up to the new milling plant at garfield owing to the delay in getting the big plant in complete commission and the low prices of the red metal the company has been operating at a considerable loss and the issuance of the new stock is intended to cover this floating indebtedness the production is now between and pounds of copper monthly and under normal conditions the boston con soli dated should soon be on a profitable working basis in beaver county bounty the mining outlook is brighter than ever before not only are the older properties responding generously to renewed development but many newer lights are beginning to shine among the shipping list the majestic once a famous producer from that section is showing up new resources and gives ives every indication of duplicating its past record the cactus mill is to be remodeled and the capacity increased to between 1000 and 1200 tons daily this would indicate that the mine reserves are growing at a rate to justify such a course the king david has just been equipped with a fine new hoisting plant and other equipment and is in line for extensive development over in the star district the red warrior and others are regularly shipping out the high grade ores and at the same time doing an enormous amount of development work next to the tintic gintic district beaver county is the most active section in the state the utah philadelphia mining company operating near the mouth of little cottonwood canyon has opened a good showing in the upper tunnel of two feet of high grade rock A sample of this recently returned 32 ounces in silver 62 per cent lead 8 per cent copper and in gold the management is now driving the lower tunnel ahead to acut cut this vein and should tap it within the kneat fifty feet at a good depth attention is called to the article in this issue on the united states assay office very few people realize just what such an institution is and that it is one of uncle sams greatest aids to the mining industry the local office will not only be of great benefit to salt lake gity city and utah but it will also serve idaho nevada and the intermountain country in general considerable excitement is being shown in A merican american fork over the reported strike in the whirlwind up in the canyon near the miller hill so strong have been the stories that the stock has more than doubled and yet no authentic information as to the extent of the find can be obtained mine superintendent ebinte erin adent is quoted as saying that it looks extremely good and may even be better than the famous tyng lease on the miller a statement which is probably exaggerated ag other properties in the canyon are looking well and this coming spring should witness a great revival in that section |