Show MAY 1 YSHAREHOlDERS They Are Very Much Encouraged Encour-aged With Showing THEIR ANNUAL ELECTION I < 1 The Now Smelter Site Purchased Developments on tlio Ingot Kr Mammoth 4 Iflclutyro in from the Copper in Llic local Market Opcu ing of the Butters Laboratory Charles Head Makes an Important of Mi Buy in Nevada Movements ning1 Men Stock Market Notes Tile shareholders of the May Day Mining company whose Tintlc possessions posses-sions have acquired a valuation of over 400000 luring the past few weeks S and from which ore of a net value of during the past 10000 lias 1 con derived thirty days met In 1 annual Rtsslon yesterday the old terday afternoon and reelected board aad old oJIlcers for the ensuliiR year John II Hunt under whose direction di-rection the mine has attained Us present pres-ent prominence was made president and manager J II Larsen vicepresi dent R S Hamilton treasurer and F W Muhlenbruch secretary The report of olliccrs revealed that I the indebtedness of the company had been reduced to 15000 I and Manager Hunt says this will be wlpod out In I a very short time as two power drills I will be added to the present set and the force underground increased at once The company has two more cars I oe ore at the sampler at this time and Is loading for another consignment The New Smelter Site The purchase of tho site for the Bingham Copper and Gold Mining com panys smelter having been comjileiid with transfers that were placed on record rec-ord Saturday last Col Heffron yesterday yester-day announced that its exact location will l be at a point between the Highland High-land Boy plant and the ground on which the United States companys I plant is to be roared The Intervals between be-tween the three plants said the Colonel Colo-nel will be so short as to practically unite them as an avenue of smelters along the banks of Jordan river and that another thrifty settlement will he founded there before the expiration expira-tion of the year Is among foregone conclusions con-clusions Tho site for the Bingham companys smelter consisting l of sixty five acres having been clinched surveying sur-veying will commence at once while the breaking of ground under the genEral gen-Eral supervision of Superintendent Nut ting will begin early next week Ingot Developments The weekly report on developments at the Ingot of Mercur which was received re-ceived by Manager George Dern yesterday yes-terday shows a very encouraging condition con-dition under ground From as many as eleven samples an average of 270 gold per toA was obtained while several showed as much as 33 one 4 SO and another an-other l j gold per ton The management manage-ment ICfls very murh encouraged I while the superintendent writes with I much fervor that ho has the bull by I the tall and nas no doubt of putting Ingot on its feet in the next few eels The main work Is now progressing In the drift off th > 250foot level by which the vein Is blnu 1 followed on the strike The Mammoth Sam Mclnlyro Jr the vigilant I superintendent su-perintendent of the Mammoth com panys bfr mill at Itobinson came up from camp yesterday morning and disposing of mutlors lequirim his at tention loft for camp again last night Of the mill the vIsitor says it is again I handling about 1000 tons of ore a month although the recent cave In reduced these figures for a short time This has now all been overcome however how-ever and milling as well as crude ores for the market are coming forth instead In-stead volumes Mr Mcintyre enpha slKes the report that a dividendf will come from the property this month Ore and Bullion Settlements In the ore and bullion market the ncek opened with settlements > amount Ing to S40SO divided rfs follows FnrF < Tones Co Gcrmnnla bullion 1900 gold sliver lead and copper ores SIHSOO Bmborger McMillan Gold silver and lead ors SSfWO Commercial National Bank Cold silver and lead ore 1500 iICornlcl Co ailuRO bullion a H2a qold silver lead and copper ores SO I In the metal market silver ruled at lcr M r8 cents nn ounce lead at 157 I Jh per hundred pounds and casting corner at lo cents a pound The Price of Copper In the local market yesterday ° la < stelda connor registered another advance and ruled t Rt 16 cents a pound the highest point I touched by it the present year and Blnoc October 2nd last yhcn It broke to lofi cents Since that lime it has bien flown lo 1 cents at which It ruled I through January and when the Stand ard Oil crowd wore In control of the market with copper shares going as the crowd directed At home an impivs iI i Ion porvalls that tho motel l Is ech d ul tar jJtlll further advances this based on reports from foreign us well as local markets Th Boston Xews Bureau says I j The general 1 tone of the copper markol In t strong and some sellers have withdrawn offers u > sHI at 17 cents This price was said to have boon bid for W0 000 pounds and declined Several piodutcrs have nold at 17 cents for delivery de-livery by bout Tho market has broad cued out all domestic manufacturers havo boon r ady buyers at 17 cents for I lake brands Tin same paper quolos 1 prominent i broker of Boston as follows I There can be no question as to the i position of the public In this market when transactions reach lOUOOOO sharow per clay for threo or four days Tho activity in Nw York bin at lust boon rtllertr in Ito local innrkK and thereIn rtr < nlt In no question In my mind but that tin I dipper stocks are In for a good rise You cannot keel onpprr stoiktf lown for any length of time in an advancing molal market There la I haidly n copper cop-per stock on the list that In my opinion opin-ion will not sell materially higher T do not bollovp that the Standard Oil people wore quite ready for an advance I Iu copper shares but limy cannot keep I them down |