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Show THE CITIZEN Mine And Oil Review feekly oNwood king mine UDEBTEDNESS liquidated Indebtedness of the Cottonwood has been paid off, which company in excellent shape , according to latest reports, so little outstanding stock haveholders have responded many purchasing more stock. Ine letters have been received e company from the in which they state they d sfldent that with more King will make a pine ors to the San Juan. The Utah Oil Refining company is said to have completed the survey it has been making of the East, or Raplee, anticline situated east of the Mexican Hat basin. ALTA TUNNEL. E hold-itoc- k old-tim- i develop-Cottonwoo- png mine.. says the company has balance in the treasury, so ;hing now stands in the way men to work and log more up development of the prop-I- t is expected that upraises will lloited on the ore showings open-i- n the tunnel Ore shipments smade as soon as possible, out the waste ers are cleaning itnnnel which accumulated dur-i-e and are making lor active mining operations. aOs have been laid in the tunnel necessary to replace old and nt steel to expedite mine pro-- I Parry shut-dow- n, JUAN OIL FIELD. SAN promised rush of drilling ma-- y to the San Juan oil field in astern Utah has begun to maze. Advices from Bluff City re- here indicate that at least five fill be in progress within thirty loads of material have holed in from the Santa Fe rail-i- o the Organ Rock structure to it is reported, on the Cramner tty, a Denver enterprise. Two ltd rigs are at Gallup, New for the Organ Rock One of these is probably for Iwest Refining company. The of the other have not been The American Shell may r truck ed, Mex-destin- party as the Shell interested !new ed Organ Rock locations. tools for the Mexican Hut H POSTS FOURTH QUARTERLY DIVIDEND. Mining company has posted its fourth quarterly dividend of fifteen cents a share, payable October 1 to stockholders of record September 20. This latest dividend shows an increase of 5 cents per share over the two preceding distributions of ten cents per share made this year, and of ten cents over the initial declaration of 5 cents paid last December. The current payment will bring the total of dividend disbursements up to $400,000 in less than one year. Earnings for August are estimated at bePark-Uta- h , kd about 350, feet when machine was withdrawn to made sment work. trol head for 0,1 the Monumen- the Hulkite structure, has PDed Ues from Salt Lake and new which are badly needed, The crew should camP within five days. Then in readiness to break ibe rib of brown rock believed caPping of the Areola sand, be accomplished in two or Twenty-fou- r feet of fossil rctly above the ?ted with oil. H. L. Rath of bas gone to the field to cap-Toc- k sur-Monument- al. Permittees have sent survey 387,000 for last year. the corresponding period of Most of the increase this year is with China, exports to Japan are some-- , what smaller. The MUTUAL PLAN Save the coal mine workers and retail dealers .combined ' profit by stockholders operating their own mines and local; yards. Investigate and reduce the cost of your coal! DENT CHAMBERLIN, Stock Sales Manager Telephone Wasatch 7959 38 West Second South Expansion Depends Upon Earnings HE telephone system must keep ahead of tiie needs of its community. That costs money. The expenditures for expansion, how- -' ever, do not come from earnings, but from new money which is constantly being invested in the securities of the . company. . PARK-UTA- TRADE BALANCES INDICATE LARGER DEMAND FOR SILVER. river last spring,' reached Bluff Wednesday and will be dropped bole at once. The Mexican 8 The Alta Tunnel, in Big Cottonwood district, apparently has opened a new resource in the back of its big stope. At the foot of the stope near the No. 3 raise the percolating water last July brought down a little of the hanging wall and with it a few specimens of ore. It was determined to find out whether the ore was merely a finger reaching up from the main bedding or something more important This week the superintendent put in a ladder and went to work with a pick. The ore he found, lay in a streak. At first it was narrow, but it soon widened out revealing a promising deposit which has already yielded six mine cars of ore. New ore has also been found in the Christmas raise above the main bedding. The bedding itself is thicker The lead than it was last week. values are picking up, but the silver content is much below normal. A change is appearing in the drift north from No. 3 raise and the miners expect soon to come on' top of the black lime through which they have been driving for sixty or seventy feet. Lot 31 was settled this week and lot 32 will be closed in a few days. Thompsons. started a well north Trade balances due Asiatic countries from this source were $42,852,000 at the end of July, and are known to have increased very largely during August. This balance is comparable with $18,- - ' tween $90,000 and $10ft,000. This company operates one of the newest big mines in the Park City district. It was formed in 1917 with $1,250,000 authorized capital, of which $854,000 is outstanding, to exploit the neglected eastern part of the camp, east of the great Ontario fault. At last reports output was running close to 150 tons of 40 to 50 ounce silver ore a day, with monthly production close to $200,000. which 11; That Far Eastern conditions have changed materially during the past eight months, and that demand for sil- ver is likely to be much larger, is shown in the reports of trade between those countries and the United States period. during the January-July A reasonable dividend must be paid on this investment exactly the same as reasonable wr.ges must be paid to employees. If earnings are too low there will be no dividends and therefore no new investments and no extensions and no important betterments. . Remember that a company which is not prosperous cannot render good service nor extend its system to meet the demands of .growing w Mountain States Telephone and Telegraph Co. |