Salt Lake Tribune | 1918-02-03 | Page 30 | Western 'U' Copper Announces Dividend

Will Mean a Disbursement to Stockholders of Approximately Ap-proximately $37,000. The Deep Cieek Mining district made its first contribution to the dividend class when the Western Utah Cor-pel-company announced the declaration of its initial dividend in the amount of 7'.2 cents a share on outstanding capital stock. In making the announcement. President Harold R. Smoot asserted that tile dividend declaration represented a disbursement by the company of approximately approx-imately J37.00D. The dividend will be payable February 15 to stockholders of record February 10. A rumor has been current for some time that the Western Utah Copper boon would join the ranks of dividend payers, but no action in this directlun was taken by the boaril of directors until Friday afternoon. At tho meeting the resignation resigna-tion of Edwin T. Jones as secretary-treasurer secretary-treasurer oftbe company was tendered and accepted, and Prlston D. Richards was elected to fill the unexpired term. The annual meeting of the stockholders is scheduled for 11 o'clock next Tuesday Tues-day morning, February 5. Since tho completion of the Deep Creek railroad the Western Utah Copper has been a regular and consistent producer, sending to the smelter approximately 200 tons of ore dully until the present time. Tho coming of the railroad stimulated activity in the district and many producers pro-ducers have been added to the list, but the Western Utah Copper Is the first In the Deep Creek region to pay a dividend. It is expected that the action of the board of rilreelors in this connection will attract more attention to the district, and probably prob-ably interest more capital in the many promising properties now under development develop-ment to the end that Deep Creek may soon boast of a list of dividend payerB equal to those of some of the older camps of the state.