Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1901-01-30
DIVIDEND HAS
BEEN INCREASED
SILVER King NH Hereafter Pay
100000 Per Month,
BONANZA IN FINE SHAPE.
News Announced To-day by senator
Kearns Nill be Continued
Indefinitely,

The great silver King Of Park city
has Increased its dividend from $4,000
TO 100000 per month. This was the
cheerful news given out by Senator
keltns previous TO hls departure for
Washington al noon today. The matter
was decided after due dellberauon and
after a pool had been effected OF the
stock owned by the largest share
holders. II was doubtful yesterday
whether this would be- accomplished,
but the pool was satisfactorily made
this morning ana the announcement or
the dividend was then In order. At the
meeting of the directors it was also ue-
cided 10 lre'au o0 assistant manager
and the many friends Of Mr.. NJ j.
DALEY will be very pleased 90 know
that he has been selected Tor the above
responsible position. owing TO the iact
that Senator koarns state duties VIII
require SO much OF his attention that
he VIII not be able % consider the de-
tails Of the great bonanza. Mr.. Daley
has been given full power 20 act in the
absence Of the man TO whom so much
u the SILVER Kings success is due. Mr.
alley has been connected win the
King for Il number Of years. lie was
raised In Nebraska near Senator
Eearns old home and after coming 90
Utah he acted for several years as the
silver King Company's steward on the
resignation of Foreman Tim sullivan
about two years ago, Mr. Daley was
put In charge OF the mine and De has
discharged his duties I'm "a manner mat
is perfectly acceptable 90 the manage
ment Of the mine. In speaking OF the
recent developments at the mine today
Ir James lyers said that the recent
strike on the ! 200 level Was made under
Mr.. Daileys direction and his services
had been such that the company ielt
that as assistant manager he would be
quite as successful as he had been as
mine foreman.
I'm A retrospect today Mr.. lyer5 re-
called the time when. 90 1855. Senator
Kearns David Keith, A. 3, Emery,
John Judge. VIM. Dodge and himself
took a lease on the MayfOWer group IN
Park city After sinking @ shaft 300 FEET
they drftcd about 100 feet and struck
the lead. which. they were assured, ran
into the silver King group OF claims.
They then secures an option on the
silver King claims and started a shatt
On the group. This was pushed down
zoo feet and after running 200 feet the
immense ore chute on that level was
tapped IN the meantime the little
band. whose names In connection win
Utah's greatest mine, are known ~
everyone. had taken mp the options ana
were reaching out and securing addi-
tlonal property, until today the COM
many owns practically 100 patented
claims In Park City. No one can COM
prehpnd the sligo of the Slopes between
the zoo and 500 levels Of the bonanza
from which nearly $3t00Oo0 has been
paid In dividends. But notwlthslaudins
The fact that the company paid SlVVO.-
GOO last year, the company came out AT
the end OF the year with 10000 tons
more ore In sight than II entered IT,
mo c~o runs nearly $50 per ton on an
average. but good as are these values
Mr. Iyers saws the latest tests on orc
from the 200 level show an average
yalue OF better than $50 IN gold, silver
conner and lead There Is no doubt
said Mr. Ivcrs. that the bonanza VII
astonIsh everyone when the manage
mcnt begins the marketing OF the ore
from the lower levels We nave l'V
feet of drifts in ore on the l000 an'
100 levels ON which not o. solitary mar
As working We could double the oulpu
at any time if desired.
Asked as Co the intentions or th'
management when the new uamNay u
completed. Mr. Ivers minated that
material increase In the production
would then be made. lie had noihnI
to saw regarding the Crescent INV
which rumor says VIII pass into on
hands of the silver King. Mr. lVer
smiled broadly however as he intimat
e1 that time would show the plans %
tbe silver King management