| Show SILVER SHIELD LISTED Mine Has Been a Good Producer Much Development The listing oC the Sliver Shield Mining Mi-ning and Milliner company with the Salt Lake Mining and Stock Exchange Ex-change was yesterday perfected The company of which A Honauer Is president and J 1 TV Langley Is secretary secre-tary has among its shareholders a good array of the substantial businessmen business-men of Salt Lake The application shows that the property consists of the Silver Shield and Toledo claims in the Blngliam district both of which are patented and that there are no contests con-tests or conflict of titles The ground was purchased for 60000 which has been paid by the stockholders stockhold-ers who obtained the shares at a uniform uni-form price of 20 cents a share The property has produced under a leasing system prior to the formation of the company over 100000 and since the organization the company has realized ores to the value of 536232 which has been expended In development work operating expenses and the purchase of machinery and pumping apparatus r There are also In the workings feet of shafts 1000 feet of tunnels and 510 i j feet of upraises The mine is now employing em-ploying eighteen men and shipping regularly crude ore and concentrates and the ore In sight Is estimated at a net value of 550000 There Is now 3000 In the treasury and up to Novem ber 15th there were fortyfive tons of firstclass and two cars of concentrates on the ground and the output of the present month Is expected will reach 53300 The company has never paid any dividends and has no debts It is not held out as a bonanza but Is be lieved to be a safe and businesslike proposition Commencing with Decem her 1st It Is the Intention to pay a monthly dividend of J cent per share the residue being set aside to build up a surplus which it Is expected will grow at the rate of 1500 to 52000 a month The ore produces lead silver and copper with small values In gold The exchange lists propositions as first and secondclass prospects and mines and the Silver Shield was listed as a mine or a proposition of the first class 3aly West Development Manager J E Bambcrger of the DalyWest Mining company returned from Its bonanza at Park City last night after making an Inventory of de velopments that have taken place dur ing his absence and better pleased than ever with Its performances The disclosures upon the 1100foot level are the most Interesting that have beanie corded nt the property and Into the llfth chute at a point 1200 feet west on the vein the level has penetrated sev eral hundred feet with the face show Ing five feet when he left yesterday At present 135 tons of ore are being handled daily at the mills while over sixty tons of shipping ore are coming to b market dally The Honerino Shaft Manager Scheu of the Honcrinc at Stockton experts that the shaft to the lower level will be cleared of water by fratunhiy mid that t being accomplished the work of crosscutting will begin the lirat of the week The dlatnnle be tween the two levels ia 100 feet and the water is now down CO feet leaving but 40 foot tobe yet pumped and the water 1 s rajildly lowering The process has been slow heretofore on account of largo cavities llllcd wtlh water In the old workings but these being emptied the end Is now In sight Mr Scheu says that the pumping by the Honerlnc will Inure to the benefit of neighboring mines also The crosscut which wIlt be commenced at once wlfl give loo feet of sloping on ore chutes from which over 000000 were obtained above the upper level several yea ago Northern Light Assessed An assessment of 2 cents a share was levied against the shareholders the Northern Light Mining and Mllllnc of company at a meeting of the director of the company held yesterday after noon This Is the fourth assessment made since the beginning of the devel opment of the proposition from which considerable ore bodies have been shipped and wlilch its promoters be lieve will in the end prove a PaYing venture The present Indebtedness of the company ls bctwccn 0000 and 510000 which will be reduced SSOOO by the present assessment there being 100000 shares Work will be continued through the winter and It is hoped that the ore now being obtained will make the enterprise henceforth sclfauntaln Ing |
