Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1904-04-01
President Of Big Park City Com.
pany Will Not Attend Direc-
tors Meeting Next Week.
LEFT FOR new YORK TODAY.
He Says There Is no Need for Alarm
Among Stockholders Because Of
Recent Decline.

on account Of the overland train be-
Ing so late that II would be impossible
to make eastern connections at Chlca-
go, j. h. Bamberser and wife. who were
called to New FORK from Los Angeles
on account Of the Illness Of their son,
came down from ogden last evening
and remained over until this afternoon
when thye continued their journey.
To a News representative today,
Mr.. Bamberger declared he knew 9TH
ing about what action is likely 10 be
taken By the directors OF the Daly-West
Mining conr9ny I their meeting next
week relatne 'to cutting down OF
the dividend. II have not comnuni-
Gated with or talked with any Of the
members OF the board" continued Pres
idcnt BambergCr, ION the subject, eX-
cepting Mr.. Mccormick, who, as II il
pretty well understood, was opposed to
the raising OF the dividend to 60 cents
last September | am positive Of one
thing, that there Is nothing in the
physical condition Of the Daly-West
mine TO justify any uneasiness on the
part of stockholders. But the shares
have been hammered and | don't know
whether they will be knocked down
more or not"
Mr. Bamberger will not be present
at the coming board meeting, but the
balance of the m mbeTs will be-
IL being the intention of Vice President
\
son and Ezra Thompson, who are in
California, to return to attend 1t.
Asked concerning the negotiations
said TO be pending for the
purchase OF the Daly-West and
Silver Kilg mines by the Federal
Lead syndicate, Mr., Bambergers
reply was rather OF an eyasive nature,
While he did not deny that he had met
representatives, Of the Federal COM
pany In his travels very recently, he
insisted that the negotiations have not
reached the stage where he can talk.
II cant say he continued, that there
ere any negotiations on When re-
minded Of the recent meeting With Mr..
Sweeney. the Federal representative Tho
haa ben seeking TO get control Of the
Park city bbnanbas, Mr.. Bamberger
went on to say that Mr., Sweeney UNI
dOubtedly has the financial ba king
sufficient TO buy both properties and
others just as big,
Mr. Bamberger inferred that the
Daly-West ana probably the SilN er
King could be purchased provided the
price was right.
The properties OF the Salt Lake Oil
company near Los Angeles look very
encouraging to Mr. Bamherger and as
scciates. While the wells have not be-
gun to pay dividends as yet, the out
look Is splendid. About 1000 barrels of
the iiuld Is being produced and market
ed daily but this amount will shortly
be materially increased, The company
Is spending considerable money in
making additional improvements pre-
paratory to increasing the output, 4
pipe line Is being built 10 the nearest
point on the Southern Pacific railway,
with this completed the cost Of trans
portation will be reduced at least 50
per cent.
Mr.. BamberPer was Interested 10
know what had transpl,ed In the local
fields during his absence and was
pleased to learn that the outlook for
some big gushers at home Is 80 promls-
ing. "There II NO doubt that the oil
industry has made Los Angeles what
II is today said he, "and 1t viii help
Salt Lake in the same way II the eff
fort now being made proves success
full
Mr.. Bamberger expects to return
In about two or three weeks,