| Show annual meeting of may day mining co held monday the annual meeting of the share holders of the may day mm alin n corn com pany vas held at the company a ol 01 i lice fice at salt lake last monday at which time all of the old ollices were re elected aa as bollor follows a john dern pres dent M P braffet vice president W S mccormick treasur er At A reeves secretary th se with J C 1 ck constitute the d supt bupt C C gr ggs was as present at the meeting and presented an inter eating report chien covered in detail the developments of the mine during dm ing the past ear the foll following oming paragraphs nave have been taken from mr grigg leport report at t this it is time last year the mine was n aking heavy shipments of zinc but the pric of sp iter kept gong go ng do until c early I 1 Y in J june me 0 one me lot as sold at 4 JO hud hundred red P counis n ls for a time an ei ator was made madeko to get bet ter ore va 1 t 0 0 offset effs set th h decline al in price bat but I 1 it N as f faund nd that to keep ip the g greide d e of 0 afire f re to the mecca sary standard I 1 va pa ad dethe e he it mi mining costs too heavy eo so that hat t in n th that month the company relue reluctantly an I 1 ly y acell decided to sua sus pend z no tie eh p nants nt n t a port ons of he in ne me v extending from fhe top 0 o the lw level then them leased to vat skilled and reliable men ail and the plan has brov ed a very good vay of develop ng rig the property in tao 1 cases ne me v ore bod ts Ls t s have been opened in virgin territory one on 01 the jev level e I 1 and the other on the ho at or upper tun nel net I 1 vel on the the leasers teasers have a large depos t of mill ore there la is every evidence toot the work ork there is now nearing an enric enriched ned zone and it is expected that ng ore will ill be ol 01 ened almost any day this body of lo 10 v grade may prove a big asset to the mine A sample of it haa has been s nt to the bureau of metal lurg cal research of tae un aversit of utah for cx experimental work in its economical reduction an important discovery was made by leascie on ih th upper tunnel lettl there here a n ce vein of good lead ore in absolutely new ground is now be ing worked th a ave averages raes well a bove 50 per c nt lead and carries twenty to thirty ounces of a s iver this body seems to be an axtens on of the ilumba Z vein and it no v ai al pears that the prospecting heretofore dp p m search ng rig for it was toa far elst east it it is the humbug extension the may day has audit 1033 10 feet of tt it on ita its strike and it means a great deal all the leases are g ven for six months at a time and the plan has proved a success financially and other vise mr air gr ggs does not h bitite i saying that the mine is looking much better than thair at any tine ti ne during the past year the company had a cash balance of 14 77 aj on the first of the pris ent month |
