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Show IUUEX Hi NOT BUD INCREASED RECEIPTS AND DECREASED DE-CREASED OPERATING EXPENSE CAUSE OF SURPLUS. The Utah-Apex Mining company . has declared a dividend of 25 cents per share, payable November 1 to stock of record October 19. Total capitalization of the company Is 600,000 shares of stock with a par value of $5, of which 528,000 shares have been issued. Up to date, including includ-ing the last dividend, the company has ' distributed a total of $1,275,000, ac-1 cording to Weed's Mines and Copper Handbook. The last dividend was paid November, 1918. Decision of directors of the Utah-Apex Utah-Apex Mining company to pay a dividend divi-dend of 25 cents per share, according to the Boston News Bureau, was prompted by increased receipts of cash during the last few months and the gradually decreasing operating expenses made possible by the installation in-stallation of new equipment last year and inauguration of many mining economies. It is over' a year since the company ceased paying dividends. Since that time it has paid all the expenses of its suits against the Utah Consolidated Mining company and owes no money, i On the first of this month Its cash balance was approximately $400,000, . and because stockholders have waited iff' patiently . pending development of . their property, the management de- cided to order a disbursement. The judge has sti'; ?er advise-t advise-t ment the case of Utah-Apex against ! Utah Consolidated. TM litigation has been in the hands of the court in , Salt Lake City for almost a year now, and a decision is expected Almost any day. Great interest attaches to the finding, because it will go a long way toward clearing up much of the doubt existing as to the exact ownership of certain llmebed formations in the Bingham camp. Unless the Utah-Apex company, however, is assured that its rights are not being encroached upon, the company com-pany intends to take the case to the higher courts. Overtures, direct and indirect, have been made many times looking to a consolidation, but thus far nothing has been offered which would tempt Utah-Apex to enter a merger. The company is sinking its shaft to the 2,000-foot level, where the downward down-ward extension of the ore 'body now being mined on the 1,800-foot level will be opened up. It is planning the installation in-stallation of a flotation unit which, with the high-grade ore body now being mined, should further shave down operating expenses. |
