Show ITS HEAVY IVtDENU i Highland Boy Posts 375 000 Payable March 1i i 1 FIRST AND TO BE QUARTERLY The Sale oC tho Dixie Mine and Smelter Machinery for the Stockton Stock-ton and Active Work Promised in That Encouraging Property Tho I Old Colony Prospecting and the t Ajax Doing the Same Tiling Good Samples From Bull Valley El Boy Drifting for Sunbeam vein I The Highland Boy of BIngham has 1 I posted its Initial dividend oC S125 a share or 375000 the distribution to take place In March This was yesterday I I yester-day announced in a Tribune special I fl from Boston and verified by dispatches I S J from New York in which city the I t American ofllces of the company are located lo-cated and that a dividend will come wlth each recurring quarter the present pres-ent earnings of the company afford b abundant evidence It has been a tedious tedi-ous Avail perhaps for those not conversant con-versant with the time the skill and I energy required to cqnvcrt a big mine even Into a commercial proposition I notwithstanding that when Samuel i 1 INcwhouse commended It to them it 1 was with an admonition that dividends must not be expected for five years It is not quite tnat long unit me investor I inves-tor has been required to wait but It prepared him for It Not only has the i mine In the meantime developed Into IJ one of the largest in the West but tin t-in been provided with equipments pchat enable the management to handle njid to treat Its output at the lowest i possible cost The day of dividends t however has been finally fixed and with It the big mines of Bingham seethe see-the dawn of a new pra The stock of c the company which was reorganized In London as the Utah Con with 300000 shares i is held practically In England and along the Atlantic coast the gentleman gen-tleman who exploited the proposition allowing very few to remain in this i neck of the woods so that while very little of the dividend will reach Utah II it Is none the less gratifying to its citizens I citi-zens that the era of reimbursement has arrived In the meantime the mine I has supplied the means with which to pay for its equipment that In Itself represents a small fortune even to those affluent evntletncn by whom It Is controlled con-trolled The Sale of Dixie Mine and Smelter The sale of the Dixie mine and smelter smelt-er at St George having been accomplished accom-plished by him William F Snyder Is scheduled to return to town today his arrival to be followed by a transfer of the property to a representative of the 1 purchasing crowd Mr P T Farnsworth Farns-worth who was in receipt of a communication com-munication from Mr Snyder yesterday 1 I says there is no doubt of the sale of the Ii mine over which there has been bo i much sparring by some very prominent i I persons at Intervals and while he did not know the exact amount involved in the transaction he thought it about 5250000 Jt is understood that the new I crowd which is abundantly provided j with means will not only increase the i force at the property which Is one of 1 the most interesting in the West but I that the capacity of the smelter will be 1 Increased at an early day f Machinery for the Stockton Arrangements were yesterday perfected per-fected by which the property of the Stockton Gold Mining and Milling company I com-pany consisting of no less than eighteen l r eight-een claims at Stockton will be at once equipped with machinery with which l 1 to continue its development This Ir I equipment for which the necessary money hus already been provided will II conalst of a 60honjepower hoisting I plant an air compressor and two Bur F leigh drills the developments already made in the property fully justifying p the outlay Under the management of I J J Trcnam a great deal of work has been performed on the group in which is included the Lion Con during the past year and while periodical lots of I highgrade ore were sent to market a large amount of milling ore has been c blocked out and awaits the erection of Tf L a concentrator with which to put it into commercial form With the new I machinery installed the management T will continue the shaft which Is now at a depth of 200 feet to the water level in the meantime crosscutting to the 4 Katharine vein which has been pro ductive of a great deal of ore of excel I lent quality The outlook for the propo sition Is certainly very encouraging i I The Old Colony The directors of the Old Colony Mi ning company whose ground adjoins j that of the Lower Mammoth at Tintic and which presents ail kinds of possi bilities since the recent disclosures in tl I the latter have practically arranged 1 for the sale of about 100000 shares of 1 flock now contained in the treasury i and from which they will derive enough I to thoroughly prospect the vein TJiat the vein which has been opened up with such sensational results In the Lower Mammoth continues through I the Old Colony now looks quite con clusive to those interested and to de termine it the marketing of the treasury I stock was decided on it will at all events put a good many thousands of dollars Into the companys stocking Ajax Drifting for Vein Manager Weir of the Ajax departs for that Tlntlc property this morning for the purpose of hurrying up the 1t search for new ore bodies In which he 4 I has been much delayed because of the n inability to secure ah with which to I keep two shirts going Discussing the i i work toward Hungarian ground Man I ager Weir days It will require some I time under favorable conditions fo I 1 reach the vein opened up by Lower Mammoth while In the meantime ho is driving to catch the main Ajax chute which was left at a depth of thlrtySvo feet below tho 700foot level However the season Is yet yqung Samples From Bull Valley Col C K Rowland who has been prospecting Bull valley along the line of Utah and Nevada In the southwest em country has returned to town most favorably Impressed with the i country and bringing Will hl8 Wlltll i of Very high grade carbonates of cop per Tile Colonel who has been IdpnU I fled with various Utah camps for many years departed for the valley which baa been worked in tftv a desultory w iv great about deal three of development has and not whie beer a country irnsi < opened uvvii iu oume cue Lw Question of permanency In demonstrates timis 1 a orodo crowd has been Set I very active and in Its property a most wtonlahtl Mi body of IB ore now ti exposed The Colonel 1vIil retuzzi to Bull rahiey In the spring El Rey After Sunbeam Vein if From the GOOfoot level In i the 131 Rev Hliatt at Tintic drifting Inis fl nv buguim I t ri to the Sunbeam vein and Important developments are expeclcd at 1 an early lay Accordlnsr to survey ho vein should be reached within ihrtyilvo ji feet from the shaft when drifting upon it to tap the ore chute from whlih not a small volume of ore was taken above will be pushed as rapidly as possible Once the vein Is reached however there Is a possibility of opening open-ing up an ore body at any shot and the management expects at any time within the next sixty days to be raising ore through time new outlet In ElJlcy ground Tho outlook Is certainly very encouraging |