Show TINTIC STANDARD ISSUES LETTER As a result of passing the third quarterly dividend the tintic gintic standard mining company on the sent a letter to stockholders explaining why the stated action was necessary it shows that the company has been spending a great deal of money during the past year in railroad building mill construction st etc and that while a substantial disbursement on dividend account for christmas is contemplated a payment at this time was not considered advisable though the letter does not show it officials of the company stated that earnings for the first eight months of this year approximated the letter issued states in passing the usual quarterly quarter fly dividend payable at this time your board of directors recognizes the right of the stockholders to know the reasons the reasons are manifold but first of all the physical condition of the mine is not one of them for never in the history of the mine was there a greater quantity of first class ore in sight and available than at the present time the principal reason is that we have been compelled to devote large sums of money this year to the payment of the balance on the railroad and the building of the mill the two items at this time aggregating gre gating upwards of we have paid as you will recall two dividends aggregating all out of current earnings last year we received for silver this year less than 97 cents labor during the last three months has been scarce and the mine has been running with less than 60 per cent of the men tha that could be employed to advantage the smelter charges and freight charges have materially increased likewise wages and supplies while we have kept development work well ahead of the requirements of the very highest standard of good mining WO we planned the sinking of another shaft and the running of various drifts and crosscuts cross cuts and ha had ordered timbers and machinery for these purposes but which we were compelled to abandon this year on account of labor short age this should be taken up next year T the timbers of course can be used elser elsewhere here the railroad is now paid for thew the will is upwards of 60 per cent paid for and lid we expect to complete it by december I 1 next nex the additional labor that will be ava av able immediately after crops are barve harvested and and the adap a state road work reduced tion of the contract system will enable ie Us to increase the output by a very large langev por if not double it so that not standing g adverse conditions a substantial dividend may be expected at christmas |