| Show list of dividend paying mines is augmented by the entrance of north lily in the tintic gintic district N the lath instant another utah metal liine mi aas added 0 ON to the ranks of the major dividends payers when the directors of the north lily mining company authorized the payment of per share totaling on the outstanding shares in the corporation payment will be made on october to stock of record on october this initial distribution designated as being for the third quarter of the year has been set ahead into the first month of the fourth quarter in order to give stockholders who are arc widely scattered and man many y of whom do not own certificates in their own names a chance to make transfers the acquisition prospecting and development of the north lily mining companas Comp anys property located in the eastern portion of the tintic gintic mining district stands out as one of the inar marvels vels for speed in the annals of this states chief industry two years ago after international smelting smelling Sm elting interests had bought up tip control of north lily stock and had done sufficient investigating and prospecting to convince themselves that a potential producer could be made of the property they concluded negotiations with the management of the tintic gintic standard mining company by which a ion long drift was to be run from the foot level of the tintic gintic standard mine through a portion of the eureka lilly controlled by chief consolidated to a designated point in north lily ground where it was figured ore would be encountered at a vertical depth beneath the surce face of approximately feet that task was accomplished and the ore was struck about the first of january 1927 the connecting level from the tintic gintic standard mine had ad to be driven over 2500 feet and in doing that work in record shattering tune time all of the elements of mining engineering gi ability complete operation cooperation co of the managements blits of the properties concerned and the application and se of modern labor saving machinery and devices resulted in the completion of the undertaking and the verification of 0 engineering i and geological judgment without a bobble this work rk it is said cost the north lily something like v 2000 but ut it pr proved oyed the contention thata that a mine existed in the ground and paved edthe the way for a period of production since that has justified justified the management in entering the property in the list of worthwhile worth while dividend paying mines production costs and accomplishments according to data released to the press when the initial dividend was declared and preliminary to the formal statement that will be made at the approaching annual meeting of the north lily company the record since ore was first struck has been one that will 6 give metal mining operators everywhere a mark to shoot at that will task th their air talents to the utmost for instance it is shown that total production from the month of discovery january 1 1927 to august 31 1928 amounted to dry tons net returns from this tonnage after smelter and freight deductions amounted to or a ton operating costs for the same period amounted to which includes the cost of sinking a four compartment shaft to a depth of 1246 feet development amounting to building of a foot tramway installation of equipment and loading stations net profit amounted to estimated profit for the third quarter closing aug 31 was after depreciation and federal taxes shipments have ranged from dry tons of ore in january to tons in august while estimated production for the current month is tons in september 1926 the tintic gintic standard mining company on a contract basis started driving a crosscut from the level of its no 2 shaft into north lily ground amazing speed was attained in one month feet of six by seven and a half foot tunnel was driven in one week feet in three and a half months 2600 feet of rock had been hewn through and the north lily ore body discovered officers and directors of the north lily mining company are J 0 elton president and manager W Q van cott vice president J W wade assistant general manager of the tintic gintic standard mining company A D hunter treasurer A B hardwick secretary and V R howell PI owell J F finlay is is superintendent |
