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Show ure warrants Sheriff Ben Harries Har-ries and five deputies raided the Eagle Pool hall on Wednesday evening in search of intoxicating intoxicat-ing liquor after investigating not only the Pool hall but the living quarters of the proprietor proprie-tor no intoxicating liquor was found, much to the chargin of the officers. for the purpose of developing ore sufficient for continuous production. And they are convinced con-vinced of the necessity of maintaining main-taining an ample cash surplus to provide for all contingencies. Yet it is their desire to continue contin-ue quarterly dividends as long as present conditions continue, and extra dividends when circumstances cir-cumstances warrant. In his report to stockholders President Haffenreffer says in part: In accordance with, a ruling UTAH-APEX MINE REPORT IS GOOD The Utah-Apex Mining company com-pany has a balance of $1,073,-834 $1,073,-834 in cash and negotiable securities se-curities in the treasury, exclusive exclu-sive of ore in transit, after paying pay-ing dividends, litigation expenses, expen-ses, cost of mill improvements and the purchase of mining properties. On May 31, the company disbursed $264,000. Directors favor, President R. F. Haffenreffer, Jr., explains in a letter to stockholders, a progressive pro-gressive development campaign of the treasury department, a certain percentage of earnings is charged to depletion account. These dividends are paid from that account and therefore stockholders are not liable for payment of income tax on this distribution. Development work has been actively prosecuted, and ore extraction ex-traction is being carried on down to and including the 1800 level. . The shaft is down 2250 feet and exploration is advancing rapidly at the 2000 level for development de-velopment of probable extensions exten-sions of the ore bodies now being be-ing exploited in the upper levels. lev-els. Ore reserves have been maintained main-tained to keep ample ore in sight for a year's unterrupted extraction in advance of the workings. The management has recently recent-ly acquired, by purchase, a number of mining properties contiguous to the Utah-Apex. These properties mean added life to the mine, and a consolidation consol-idation of all the mines now owned by us. Production during the first eight months of the present fiscal year is as follows: Gold, 1718 ounces; silver, 276,670 ounces; lead, 14,730,-695 14,730,-695 pounds; copper, 925,440 pounds; zinc, 5, 494, 282 pounds |