Salt Lake Tribune | 1912-12-06 | Page 10 | Chief Earning at Very Liberal Rate

GIF EARING AT P JJBBIL HIE Company Prom Year's End Will Lay Aside Dividend Material. President and General Manu.gor Walter Pitch of the- Chief Consolidated company stated yesterday that the company was making very ."sitlHfautory progress in a development end earning way, tho company com-pany accumulating from $25,000 to $30,-000 $30,-000 monthly. By the end of tho year the- Company expects to have the' surplus sur-plus . at tho 5250,000 mark, from which time on the earnings will be sot aside for disbursement to stockholders In the shape of dividends. There Is enough ore now In sight to nnmire .earnings of llrst-eluss dimension, und It Is fspected that the initial dividend will be declared shortly after the turn of the year. The Chief Consolidated company ia one of the largest producers of the Tin-tic Tin-tic district, and It Is one of the busiest dovolopcr.'. work being rarrjed forward on tho tenth, twcli't. fourteenth and sl:;- tecnth levels, much of which Is In ore and all reaching out Into territory decmeu certain to produce an oNtreincly extensive exten-sive and rich oro tonnage. The inahi shaft is now at. a depth of 1755 foot, and this ia the working that the company plana to enlarge as Hoon ns the management manage-ment can conveniently attempt thin work. It is planned to have this shaft effort so timed that even should production be interfcrrcd with temporarily dividends will not be Interrupted, meaning a sulfl-clent sulfl-clent dividend surplus to tide over the brief cessation of earnings.