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Show MAJESTIC PJOPERTK IN BEAVER COUNTY BEING. DEVELOPED Manager Moffatt of the Majestic Mining Min-ing company says the forree are working at the Beaver county property with varied success. They have lilfted both ways from the 00 -foot jet el. and acm of the ore la of a g'Kxl whipping grade. The matter of han-lling it.e water has. to some extent. Interfered with greater progress In the development, hut the fores have reached a point where It Is hoped something some-thing more tan gt hie will he shown. Home fine silver-lead orea havu been sent out from thla property, and the Indications have been favorable for the development of a permanent deposit.' Thla 'mineral oaine In southern Utah Is owned by a Boston syndicate. The cap-Italltits cap-Italltits have, been putting up their money regularly ft more than two years, and are Just aa persistant In their determination determina-tion to open up the proiterty extensively and satisfy themselves as to the poesl-ibliltlea poesl-ibliltlea of a bread winner being located i In that section. They own considerable ground, but have been confining their efforts to sinking a shaft and drifting from the lowest level. Aesesaments of 10 cent a share bare been levied on the stork at Intervals. An auction sale of 67.000 shares of the sienl was aU lae HalwHay la .'sr. land. Me. Certain Interest a connected with a trust company purchased the stork at 21 eenta a share. The amount of the crensartlon la alven aa follows: "There were 118. &06 shares of Majeatlc. on which an assessment of 10 cents per share had not been paid. The stock was advertised for sale Saturday. The auctioneer auc-tioneer Instead of selling the stock as unpaid assessment stock announced that bidders to qualify mint pay the full as-seaament as-seaament on the entire lot. Thla waa done and the company received $11.85 In settlement of the assessment. The syndicate syn-dicate whirh had paid the assessment wss then alloted about M.7W1 shares In settlement of the rash It had advanced for the assessment on the entire lot. Thla made the average price of the shares to them, approximately 21 cents against a current quotation of 62 cents. "The sl.OOO share, not taken by the syndicate. It waa then announced, would he distributed pro. rata to the original holders of the unpaid stock." |