Show THE DALY WEST OF UTAH boston financial news an interesting statement giving in some detail the physical situation at the daly west mine and signed by the board of directors which comprises J E bamberger H G mcmillan W S mccornick F J hagenbarth Hagen harth and john dern accompanied the announcements of the dividend and annual meeting after recounting some of the difficulties under which the company labored on account of the caving of the ontario drain tunnel the impossibility of developing below the 1550 foot level before the damage was repaired and the tunnel extended to and connected with the daly west shaft where feet of hazardous sinking and raising had to be accomplished the statement says during the year a has been sunk from the 1550 foot level to the 1700 foot level and at present there is exposed between these levels a splendid body of high grade milling ore which will allow a good margin of profit above the cost of mining etc even at the present low prices the 2100 foot level which connects with the ontario drain tunnel has also been extended to a point practically under the ore body above referred to and work is now being carried on to encounter this ore body on this level the 1700 foot level has been driven on the vein for about feet almost continuously tenuously in ore of varying widths in some places of the width of twenty feet A is now low being sunk from this level to connect with the 2100 foot level this is all in high grade milling ore the entire width of the ore not being disclosed some of the ore in the as well as on the 1700 foot lavel is sufficiently high grade to be shipped in its crude state at a good profit in the old or upper levels of the mine first and second class ore is being taken out and improta nt development work carried on the developments have placed in sight a very large amount of ore between the 1550 and the 1700 foot levels the ore exposed at the present time being feet long ng on the 1700 foot level feet on the dip from that level to the 1550 foot level and of varying widths as above stated on the 1550 foot level the ore is exposed for a length of 2000 feet and it ik is apparent of course that if the ore continues for the same distance on the 1700 foot level many years of ore production will be ahsu assured red this work has been quite expensive and involved a great deal of time but the results obtained have simply justified both the time devoted thereto and the expenditures the little bell consolidated mining alining company of whose capital stock this company is the owner of shares has just declared its initial dividend of 5 cents a share and the physical and financial condition of its property is such that regular quarterly dividends dividen ds may confidently be expected on account of the near approach to completion of the work of cutting out to proper size the lower feet of the main daly west shaft the ontario no 3 shaft has been closed down manager ernest bamberger said friday that means that the work of driving the crosscut for the ore body on the 2100 level will be suspended for a matter of fifteen or twenty days day s but it will in no wise affect production the closing down of work through no 3 shaft was deemed advisable on account of the brief time that will elapse before the completing of the main shaft will enable the same work to be done with greater economy conditions on the 1700 foot level and in the ahe from that level ar are e altogether favorable mr bamberger said |