Salt Lake Tribune | 1915-11-09 | Page 10 | May Day Directors Declare Dividend

MAY DAY DIRECTORS DECLARE DIVIDEND Recent Advance in Price of Lead Adds Materially to Company's Earnings. The directors of the May Pay Mining & Milling company posted the regular quarterly dividend of 3 cents per share at the meeting yesterday. Tlie disbursement disburse-ment amounts to $!M,0ft0 and the -dividend checks will be sent out on November 26. The books for the transfer of stock will close at noon on November I." and will reopen on November ,6. At the meeting General Manager J. C. Pick reported the proeprty In excellent physical condition. There is enough ore in sight to continue shipping for some time to come. The report of tlie treasurer showed that there was $t)9.000 cash on hand after all bills had been paid. The recent advance in t he price of lead, which was quoted at $5 per hundred pounds yesterday, will add ma terially to the earnings of the company. The mine developments are of such a naltire that the management expects ex-pects to increase the tonnage being sent out in the near future. Some of the lessees operating in the old workings of the mine have encountered good bodies of zinc ore and regular shipments ship-ments of this product are being sent out. There are at present fn the neighborhood neighbor-hood of thirty lessees operating on the property. The silver-lead ore that is being be-ing shipped by the May Day company at the present time is of an exceptional grade, some of the cars bringing from $1500 to $3500. The output of lead-silver lead-silver ore compares very favorably with that of the last quarter".