Show PARK UTAH consolidated MINES CO POSTS INITIAL DIVIDEND park cites big merger corporation the park utah consolidated mines company announced its initial dividend on the th first of the month it calls for the payment of a share on october to all shareholders of record on tile the today and will involve a disbursement of approximately according to president george W lambourne this dividend is payable to all stockholders of the old park utah company and the park city mining smelting smelling Sm elting company who have already exchanged their shares for stock in the new park utah consolidated mines company the disbursement of the pending dividend will swell the total paid by the properties held by the consolidated company to approximately earnings and assets large and increasing earnings of the park utah consolidated mines company for the months of may june and july after expenditures for this period totaling more than for improvements prove ments including a new compressor and tramway averaged a month before taxes and depletion available quick assets of the company including cash and bonds as of august 1 aggregated by october 1 the company should have on hand approximately as net quick assets if earnings continue con at their present rate with lead holdings at and silver around 71 c there is no reason why august and september income should not exceed those for the preceding three months new equipment in commission INT work ork on the tramway is progressing steadily so that by the time the roads are bad the new aerial tramway should be in operation between the judge mill and the ontario loading station a distance of one mile this construction represents an expenditure of and will give the company a shipping capacity twice as large as is is necessary the new compressor is installed at the daly west wes t shaft this compressor having a capacity of cubic cubi C feet per minute will furnish air for all of the mines in the lambourne group the judge the daly west the ontario and the park utah another compressor will be maintained at the judge for purposes of emergency new tunnel at the judge started A new tunnel has been started at the judge to strike the western extension of the central ore body originally discovered above the daly west level several years ago development of this probably one of the largest and most persistent found in the district has been sensational or a length of feet this ore body extends unbroken with neither its west nor its east cast limit found some idea of the extent of the can be gained from the managements estimate that yield of this deposit equals tons per linear foot width of the ore is from twenty to one hundred feet and the thickness in several places measures forty feet of solid ore notwithstanding that the chief output of the park cit city y mining smelting smelling Sm elting property has come from this ore body tor for months development of reserves is outstripping production |