Show I MAY DAY CO PAYMENT OF EXTRA DIVIDEND One of or the officials o of the May Day Mining company said sad yesterday that the re regular ular 3 cents a share rE dividend would be pal paid next month aggregating In addition to this directors of I Ithe the the company have have- expressed themselves them selves as favoring the payment of an extra dividend of 3 cents a share in December De De- De- De cember in time for the holidays holdas This I action of course Is to be taken provided provided pro pro- I I vided the tM physical condition of the tile property remains as good as it Is at the present time for t the company has ha- ha haa a big cash surplus account on hand and is shipping at a rate that gives net profits profs of at least 1 B cents a share per month Ore shipments from the May ay Day mine at Tintic are arE small smal In comparison to some of the big producers of tat camp In fact there are some weeks that It does not make consignments consignment to th the local market but the ore ore- produced is high grade and carries big values in sliver silver Its Is earnings have been at th the rate of ot per month for some sometime sometime time Ume and the company has been able to tomake tomake tomal mal make e its payment quarterly and lay aside for the surplus account The last statement statement showed that the company has cash on on hand of If I It did no shipping for the ne next t two months i it I could pay about three dividends dividends divi divi- from its Is surplus account When it I is taken into consideration that this company was thought to have mined all al of ts rich ores several years year ago and that it had hat n nO money to carry on operations when this property was be beIng being being be- be ing operated by leasers its Is earning has been remarkable The he high grade gade de deposit deposit de- de posit was opened leaders and the com corn company pany t took I it up fe fea a at the expiration IO of f i the r lease and have followed the ore r and made a fair extraction while carrying on development work Manager J. J C. C Dick Is now at the property and the latest reports are that the tile rich ore are Is holding out nicely There is no way of determining its extent as asIt asit asit it is a a vein of about four feet In width that has ha been followed for tor some distance distance dis dis- tance end and appears to remain as strong at all al times as it was at the point where first found The development will wi be continued on this vein and at other points when conditions justify justry it I. I |