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Show H Faithful Park City Producer Adds $375,-H $375,-H OOOoOO to Its Dividend Reo I ord9 Which Now Totals $11,603,485.00. Hj No more eloquent illustration of the earning capacity of tho Silver King Coalition Mines company has over boon given than when tho dirtc-tors dirtc-tors posted dividends for tho coming month. The directors convened for the usual quarterly session, and as anticipated, the regular dividend of 15 cents per share, or $157,500, was posted, but, not as expected; they posted another al-lottmcnt al-lottmcnt of profits of equal amount in the shape of a Christmas romombranco to the stockholders. Thus, $375,p00 will be distributed to shareholders on January 1, the books to close on tho 20th of December. This liberal amount of dividends is all the moro remarkable when it is consid-pro consid-pro I that silver, one of tho principal metal contents of the Silvor King Coalition -cs, is hovering about 4S cents per ounce. Lead, another important metal con-'rnl con-'rnl of theso ores, for tho better portion of the past year has been quoted at 51.30 por'100 pounds, far and away below the market price of last year. And it was not until the season of 190S was well advanced that tho management could ' b?gin ore shipments at a normal level. Hj Dividoud Record. ' Hf Including this distribution, the Silvor King Mining company and tho Silver King Coalition Mines company have paid the sum of $11,603,-455 $11,603,-455 as dividends. It. is no wonder, therefore, that tho Silver King has been one of the groatcst elements for good in the growtli and prosperity of Sast Lake Cit-, for practically all this vast fortune has been paid to Salt Lake stockholders, who have placed tho greater part, of it back into this city for business and residence buildings. j That the Silver King Coalition company has the means yet to be of even i greater importance to Salt Lake City is more than apparent from tho present Hl physical condition of the properties owned by it. At the meeting 3'C6tcrday a report on the coinpaiy's properties was presented by Captain Duncan MacVichic, one of the best-known engineers of the country, representing tho result of months of personal investigation boncath and on tho surface. Captain Mac-Vickie's Mac-Vickie's report enters into the most minute detail Tolative to the ores and the com-picte com-picte ore system of tho mine, making one of the most thorough and beautifully M, presented statement of facts over seen in Utah mining circles. The Tribune repro- duces this report in full, giving tho estimates and measurements in tho tabu-lated tabu-lated form as given in tho report itself. The report demonstrates that the Silver King Coalition properties aro among the greatest mines of 'the country, and that profitable mining will be goiug forward within the company's lines 3'oaru after the present directorate aro gone. The report shows, in brief, that tho actual and probable ore at present avail-able avail-able is estimated at 00,039 tons, or a gross valuo of $5,f5SO,7S0.O0, or a net value of $3,671,64S.S9. And there is estimated of possible' ore 4S7,377 tons, or a Hj total net valuo of $25,220,033.52. The report follows: less than 200 fcot. It parallels tho Gold fissure of the Silver King system, with a slight convergence to tho southwest. At the Silver King shaft those fissurt-fl aro 1650 feet apart; at a point 3400 feet Gouthwcst of tho shaft, approximately 500 foot from each other. Tho McGregor fissure was first enconntcrod in tho Allianco Tunnel at Station 101. and is followed by tho Kueal drift to tho Daly winze, whore a largo body of low-grade oro is developed. It is again opened by tho cross-cut that follows tho cross hssuro on tho 700-foot level This cross-cut intersects tho fissure at Station 1575, and it is developed on the striko S50 foot and a large tonnage of profitable ore is exposed. The 1200-foot level from tho Silvor King shaft encounters a fissure at Station Sta-tion 1377 (which is supposed to be the McGregor fissuro). The Bonanza raise at Station 3334: exposes a small vein of very high-grado oro on this fissuro. It is again interscctoa at Statiou 190-i by a drift run in a southwesterly direction from the McCornick cross-cut, and has been followed a distanco of 500. feet on tho strike. The fissuro is entirely filled with porphyry at this point. Tho developments on the 1100-foot level from tho McCornick cross-cut are undeveloped area, I havo usod tho production of tho Silver King system of sixty-four sixty-four tons per lineal foot, tho following results being obtained: 1 Tone. Silver Klnc system, undeveloped, 8000 feet by 6 tons Pr . lineal foot ol2,000 Crcscont-AlUancc System, undeveloped, 4S00 feet, 64 tons per lineal foot '30, 200 Between the Hanauor tunnel and Elephant Btopo in the -'1ir . anco tunnel. S00 feet on the piano of tho fissure, 3o0 feet on the striko by S00 feet times 5 feet; lno.uou Total 374,755 While thero is every evidence that tho oro will continue on the striko of tho oro-bearing contact and fissures into the undeveloped territory and yield as mch per lineal foot as that portion mined, to be conservative, I havo taken one-half or tho above estimated tonnage (974,755 tons) or 487,377 tons as the possible ore. It is safe to assume that tho undeveloped ore will be worth as much as the pres et ' -.;;. ;: 'J; r':'j'y' : ''-J 'v ' ' SILVER KING COALITION MINES CO., SURFACE WORKS. |