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Show liCTZniG SPECTACULM, H E TUESDAY'S TRADING 1 i I tlon whatever of cutting ths dividend. I The rumor Is pure conjecture, and although al-though without confirmation la apparently appar-ently having considerable Influence- on the price of the stock. It will undoubtedly undoubt-edly give the management of the Daly-West Daly-West great pleasure to have tbe Cincinnati Cincin-nati stockholders send a party out here to examine the mine. The article follows: fol-lows: "There are rumors that another drop in the Dalyi West mine dividend wlil soon be made, but none of these rumors can be verified-, though a large number of local stockholders In ' the company have made Inquiries as to what truth there is in the report. "At the meeting: of local stockholders, which took place last Monday evening at the Cincinnati club, it was suggested that each stockholder be assessed- 10c a share to defray the expenses) of an Investigation In-vestigation committee to go to tbe mines. "In view of the present reports regarding re-garding Daly West the following from the Boston Herald ls of Interest to Cincinnati Cin-cinnati stockholders: " 'A Boston gentleman, who own quite a block of Daly Went mining stock, sent an expert to examine the property and has received a report which in, part says: went through the Daly West today (October 18) and examined and inquired as carefully as I could into the affairs of that company. It is salll a great mine and will produce a very great amount of low-grade ore. In some places the vein is fifty feet wide, and, while the shaft is down 1600 feet, there is a lot of ore on the way down that has not been stoped out This Is mostly second-class and runs about $15 per ton, but the high-grade ore that is, ore running $70 and $75 per ton, , is not as plentiful as In the past Thus far the reason that it is quite apparent to me that the former management has taken the rich ore and left the other. Now,, this does not argue that the mine will not do well even with $15 ore. On the contrary, $15 In the quantity they have should mean big money, but not so much as formerly. When the new tunnel tun-nel is done if will cut Daly West 2100 feet, which will give 600 or 700 feet and no doubt considerable high-grade ore along with an endless amount of low-grade. low-grade. It will take about one year, and the terms (charges), $9000 per year, are very reasonable. Mr. Stewart, the mill man who has charge of concentrates, vtold me that he could get out $100,000 per month, and thought the company could pay 60 per cent of this in dividends. divi-dends. This would mean a reduction from 40 cents to perhaps 25 cents, I figure, fig-ure, and, while no one intimated that the dividend would be cut I Just venture ven-ture to suggest that, from my own figures, fig-ures, they can afford to pay about 25 cents for many , years to come. Of course, this is outside of the probability of striking tbe same bodies of high-grade high-grade ore in the lower levels when the tunnel is completed."' " The amount of business done on the ITinlng exchange Tuesday morning' was about the same as Monday's business, but there were fewer stocks traded In than usual and. while prices were steady, there were no spectacular advances. ad-vances. Daly-Judge was a trifle weaker weak-er than usual and sold down to $4.40 for future delivery, but was held at the usual price of $4.50 at the close. May Day was fairly strong and fluctuated between $2 and 33ttc, closing very strong, with most of the sales for future fu-ture delivery. Victoria recovered from Its slump and advanced strongly to $2.15, with the stock held at $2.20 at the close. New York, with a reported strike on the 400-foot level, advanced to llttc, and closed with 11c bid and llttc asked. Yankee Con. showed no change and sold at the regular price of 35c, with little demand, while Sacramento moved up to lie, and closed with llc asked and 10V4c bid. Silver Shield opened slightly lower than on Monday, but advanced to lOttc oa fairly heavy trading on the open board. The closing quotations fol- low Bid. Asked. AJax ...... A.'.f .10 $ Alice -80 . "XX- Boston Con 00 8.00 Bullion-Beck 100 ...... Beck Tunnel - , -OJH Butler-Liberal .10 Carlsa . .11 If . Con. Mercur ...... .3 .46 Daly t...". 2 06 2.2o Daly-Judge 4.25 4.60 Daly West 11.00 . 13.00 Eagle A Blue BeU .77 .96 Grand Central 3.00 Goldfleld Bon.. -OS Horn Silver w 1.60 Ingot 00 . .01 Little Bell .20 ...... Little Chief 01 .02 t Lower Mammoth 10 Montana Ton.... 185 2.0 Mammoth 1-72 1.77 May Day -. 32 .33 Martha Washington .... .01 New York ..v 11 -11 Ontario 4.00 4.60 Richmond-Anaconda .01 4 .03 Swansea .... .28 ' ...... Sacramento 10 .11 Silver King 60.09 Star Con. 15-V .1 Silver Shield 09 .10 Tonopah 8.25 10.00 - Tonopah Midway ; -JO Tetro 2T . United States 24.25 25.00 Uncle Sam Con 23 .25 Victoria ...... 2.11 2.2" Victor Con 03 .03 Yankee Con........ .34 .36 THIS MORNING'S SALES. Daly-Judge, 100 at $4.40, seller fifteen days. , May Day. 1200 at 32c; 710 at S2c; 2000 at 33c. buyer thirty days. Victoria, 100 at $2,15. New York. 100 at 11c; 500 at llc Yankee Con., 1500 at 35c. OPEN BOARD. May Day. 1500 at 33c; 100 at 32c; 200 at 33c. buyer thirty days. New York. 1700 at 11c. Silver 8hleld. 2600 at 9c: 1000 at 10c. buyer thirty days; 100 at 10c. buyer thirty thir-ty days. Sacramento. 1000 at 11c. Victoria, 100 at $2.15. TOTALS. Regular, 8210 share. $224.45. Opn, 8100 shares, $1554.37. Total. 15,310 shares. $4078.82. GAXENA HJ" HONTBINX. " A magnificent body of galena was broken Into Monday in the 900-foot level of the Honerine at Stockton. In reality It Is not a new body, as it was found above In the 600-foot level and the 800-foot 800-foot level, but it came in on the 900-foot 900-foot much sooner than was expected, and It is conclusively proved that the body is much bigger on the 900 than at - any other place in which it was encountered. en-countered. It was expected that the drift would have to be run at least forty for-ty feet further before the ore was encountered en-countered and the fact that it has enlarged en-larged to such an extent is most encouraging en-couraging to the management. Capt, Raddatz, fcupintendent of the mine, reports that the flow of water in the big tunnel has not decreased to any marked extent for some time, being . about 7000 gallons per minute, and consequently con-sequently tbe progress in the face of the big tunnel Is slower than would be the case if the now were less. The mill is running as smoothly as possible and aendlng the usual amount of concentrates concen-trates to the valley smelters. TLEVTVAlt OF INTEREST IN AMERICAN" FORK. The mining operators of this city who are not directly interested do not realise real-ise the significance of the recent strike In the old Miller mine in American Fork canyon. The men who have had a lease on the property have run Into a magnificent body of ore the extent of which has not as yet been determined, tout the value of which is great. AH the art In sight will run in the neighbor- . hood of $50 per ton and some of It runs very high in gold. It is estimated by experts who have seen the mine that at least $500,000 is now in sight. The lessees have lost no time, but are shipping ship-ping the ore as fast as they can break it and get the teams to haul It to the railrcvl. --Thls strike means that there will be a a revival of interest in the American jf Fork district and that many worthy . , ' properties which have had little work . done on them for years will be reopened and with the probability of excellent results. re-sults. EASTERN SCARE OVER BIG DALY WEST MINE. The Cincinnati stockholdera of the ,. Daly West are apparently more frightened fright-ened than ever, as the following article from the Cincinnati Enquirer shows. The rumors which are announced in this1 article have no official basis and as far aa can be learned In this city the man-agement man-agement of the company hag no inten- SPLENDID SHOWING IN THE WASATCH KINO. The assays from the samples brought up from the Wasatch King by Manager Reynolds Phow astonishing values and the samples themselves have attracted much attention. The shaft, which Is about fifty-two feet In depth, is in ore all the way down, the ore running through the shaft and being about two and one-half feet in width. A sample taken down the entire depth of the shaft shows values of $53.20 in gold and 3.S per cent copper per ton. This Is not a picked earople, but an average. In the tunnel the average of the new rtrike of copper ore taken across the two-foot vein, shows values of 18.6 per cent copper per ton with small values in silver and gold. In addition to this when the floor of the tunnel was being leveled lev-eled there was .about a foot of black manganese iron exposed which Is a very rare form of iron ore and is very valuable. val-uable. Simply the top of this was struck and It will be followed down at once. Altogether the property has a better showing for the work done on it than any of the Beaver county bonanzas had at the same stage pf development and several fine offers have been made by outside Investors for the property. There Is at present about twenty-five tons of the rich gold ore on the dump which will be shipped and several tons of the copper cop-per ore. OOLTJMBTJS MILL STARTS. Henry M. Crowther, manager of the Contlnental-Alta, returned from the property on Monday evening and reports re-ports that work on all the lines is progressing pro-gressing rapidly. While in Alta he saw the start-up of the Columbus Con. mill and states that while It Is by.no means running full blast, it Is turning out a very superior brand of concentrates. .It will, according : to Mr. Crowther, require re-quire about a week to make the necessary neces-sary minor adjustments before the mill can be run at full blast, and It Is probable prob-able that the connection will be made in the Howland tunnel by the time the mill is adjusted. The mill Is concentrating concen-trating about four tons Into one. Mr. Crowther announces that the trench for the pipe line which will carry the water from the dam to the mill of the Continental-Alta is practically completed com-pleted and is ready for the pipe. The machinery for the mill is now under cover and Is being put in place and ad-Justed, ad-Justed, and the towers for the tramway are in course of construction. The Contlnental-Alta has two cars of fine ore on the market today, and the mine is rapidly being put in shape for the added demand for ore which will be put upon It when the mill Is completed and In operation. .eSBSaawBBBBBBBBBSSBSBIBSBBSBBBBB-BS MINING NOTES. t , ' I P. W. Madsen has returned from a long trip of Inspection to the Century of Park valley and reports everything moving smoothly. . The Taylor-Brunton sampler reports the arrival of two cars of ore from' Tonopah, one from Mllford and one from Tintlc. The Cole-Chllda Brokerage company has leased the rooms in the Atlas block . now occupied by the Democratic county coun-ty committee and will move In Immediately Immedi-ately after election. ' ' D. H. McMillan, oil expert of the Pittsburg-Salt Lake OH company. Is In the city for a few days after three weeks In the field. '' W. M. White has returned from a trip to Beaver county and reports the Majestic management moving- ahead fast with development work. f I |