OCR Text |
Show MAY DAY COMPANY TO POST DliBSD Mine in Excellent Condition; Condi-tion; 5 Cents a Share Earned Last Quarter. "With $65,000 in cash on hand it is expected that when The directors of the May Day Milliner & Milling company, the property of which in located in toe Tintic district, meet tomorrow they will declare a dividend of U cents per share. At the present time the company could pay 8 cents per share if the directors considered such an action advisable. The May Day company has earned 5 cents per share during the last quarter and General Manager .3. C. Dick said yesterday that the property was responding re-sponding splendidly to tho development work being earriod on. The mine is producing as much zinc ore at present as it has produced at any time during the past quarter and the present developments indicate to the management that tho production will be continued at practically the same rate. A considerable tonnage of lead-silver lead-silver ore is also being mined and shipped regularly and the output of this product will compare very favorably with the output during the lat quarter. In the neighborhood of thirty lessees are at present working on the Slay Day property in different portions of the mine and are'hreaking ore on practically practical-ly all of the levels down to the 1000-foot 1000-foot level. They are sending out regular reg-ular shipments and are opening up some promising looking territory. On the Lower Mammoth property, which ie under the same management, the development work is satisfactory. In the neighborhood of "130 tons of zinc ore is being sent out each mouth. About twelve lessees are operating and shipping ship-ping regularly. For the purpose of opening open-ing up virgin territory the company is erosscutting to the east from the 1000-foot 1000-foot level. The Lower Mammoth is producing a small tonnage of silver-copper ore, and the prospects for developing develop-ing other ore shoots than those being worked at present are verv promising. The breast of the crosscut being driven to the east is showing heavy mineralization. mineraliza-tion. At the present time the Lower Mammoth company has $2300 in the treasury-. |