Salt Lake Tribune | 1904-07-30 | Page 6 | Mammoth Mine to Pay Again

mammoth mm TO PAY AGAIN August Dividend Already in the Stockings Its Transformation Into a Gold Producer. The Mnmmoth of TIntIc will repeat its July distribution in August, whatever what-ever the fears expressed by "the street" this upon the assurance of President Samuel Mclntyre, who camo In from Nevada yesterday morning after several weeks among his long-horns. Not only has the company earned Its dividend of $20,000 from the tonnages of gold-bearing ore that are pouring in upon tho open market, said he, but It Is now adding to the surplus that on August 5 when the directors shall gather will show material gains. Although a consignment con-signment of ore was yesterday marketed market-ed on controls showing as much as 7.8 per cent copper with 17.8 ounces silver and $8.20 gold per ton. the Mammoth may now be more properly classified as "a gold mine," said President Mclntyre with manifest gratification, Its gold-bearing- channel extending from the 1000-foot level to the surface, one of, If not the most remarkable. In the Stnte. That It does reach the grassroots, grass-roots, explained the president of the company, Is as positively delineated as is any condition in the extraordinary camp, while It Is known that at intervals inter-vals It has a width of over sixty feet. With the resources contained In this channel alone hfc pees no reason why the dividend should not be made permanent, per-manent, although he. with others, believes be-lieves the TIntIc producer entitled to a medium between tariffs that are now exacted by the railroad and that at least GO cents a ton should be allowed him on ores of a gross valuation around $25, On the present output of the Mammoth, a $2 rate on ores of medium grade would greatly promote the company's com-pany's earnings.