Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-12-29

few weeks back when the stock was
selling for % cents "a share The chief
trouble with the May Day as far rs the
market value of the stock Is concerned,
lies In the fact, I think, that the shares
are widely scattered and that there Is
no wealthy Inside 10 support the mar
kct Almost anyone can tell "a story
That win frIghtcn the shareholders and
doprcss the price Of the stock and the
management Is p0Werless to stop TO-
There are many things which the
May Day management has 10 contend
with for which the shareholders are in
O. large measure themselves response
BILE 10 rs proposition that has been
hatted about from pillar TO post for
several years The directors are
changed and the management is
changed from one stockholders meet
iuE 10 another and no one gets onto
the ropes sufficiently to conduct the
business as Il ought to be d0rie until a
change comes.
ITO Illustrate a point When the
present management went In Il was
found that the contract under which
the company was doing business with
the shelter was a long time one, and
that the mine could not be expected 10
do much under rs terms. Confessions
were sought and some notifications
were made, notifications that were
appreciated, but which, we have since
learned, DO not cover an the features
Of marketing ore that we should have
On order TO work TO the best advantage.
II requires time and experience TO
learn these things, and we are get
ting a little Of both. The snelter
wants our ore and the management
shows a disposition TO treat US right,
but contract Is a contract, and we are
supposed 10 know what it means when
we enter into IL. The present contract
was not or our making and II does not
meet present requirements We have
determined that In shipments recently
made. Before we can lntelligently ask
for further concessions we have got to
learn just what we need. We are go
ing TO have the mine fully examined
and sampled TO aid us IN this task. IL
would take too long TO tell you all
about II, but men engaged IN the BUSH
ness will understand our position.
In the mine there Is a world Of ore.
Much Of 1t Is Of a fine shipping grade
aud great deal more would yield a
handsome revenue II We had a mill
such as the Uncle Sam company has In
which 20 treat H. Without a mill, we
must learn how 20 get the best results
In mining and sorting There's the rub.
From the incline TO the bottom Of the
Wine In the new ore body / am sure
we have 100000 worth OF ore IN sight.
We must now learn how to get the best
results from mining and marketing it.
II our company was stronger Il would
Immediately do what the Uncle Sam
did--spend $4,000 and put up a mill
TO handle the second class and ship the
first class as Il came. III that was done
the May Day could earn big money for
many years 10 come But such q pro-
position would send every shareholder
in the company nearly clear of his
feet. So here we are, trying 10 do
something for the best interests OF all,
fun realizing that II the best thing
was attempted II would be voted down.
Some OF the stockholders have said
20 me that they considered Il would be
a wise plan 20 operate the jigs which
we own. We could do that and make
money but In doing 50 we should be
throwing away about so per cent of the
values contained I'm the second class
ore and that / am opposed to-. We
shall try and make some sort Of a rate
with the smelter that win permit Of
our shipping without being compelled
TO sort as closely as we have been do
ing and II that falls and the company
will not listen 10 a milling proposition,
] see nothing for IL except to so along
as best We can ship as much as posi-
bic and wait TN there is q change Of
sentiment I'm the ranks Of the stock
holders. We have a fine mine. and,
handled right it can be made to pay
handsomely