The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-12
About the Red Top.

Red Top directors have posted a divi-
dend of cents share, payable on the
Goth day of the present month, transfer
books TO close at noon February 10. The
company has a capital of 1, 000, 900 shares
80, 900 of which are still in the treas
ury; the total amount of the dividend
will therefore be $40. 500. This would
mean that each share would earn 20
cents in dividends per year and is very
satisfactory to those who purchased
the stock a few months ago at prices
ranging from I cents to SO cents per
share. The stock is now quoted around
50 and those who are still buying at
that price doubtless count on greatly
increased dividends.
Won't DiVuIge Treasury's Size.
An effort was made today to learn
the exact amount of money in the
treasury, but the information was re-
fused at the office of the company and
the general public can only guess at
the figures.
It has been observed that Informal
tiOn is readily Obtainable when insid-
ers wish to boom the price of the stock
and hard to obtain at other times.
Some little time ago W, z. Hughey, the
auditor of the Red Top company, dis
played portion of the books Of the
company and showed that 81, S07 80 has
been received by the company in one
week, the amount representing so per
cent Of the value of 80 tons of ore. It
was understood TO be an advance pay
ment by the sampler on receipt of the
ore. This of course. was the returns
on some of the richest ore of the mine
but the mine has been sending fifteen
to thirty tons of lower grade ore to the
mills every day for some time and from
all the unprecedented evidence at hand
it would seem certain that the first
dividend is d mere handOut compared
with what is TO follow.
When the late $4,000 Jumbo dividend
was declared there was much criticism
because the directors made it payable
to stockholders of record on a date
previous TO the declaration. The same
men control the Red Top, but this time
ample time is allowed for transfer of
shares on the books of the company
before the dividend becomes payable.
The Intermountain Mining and In
dustrial associa ton, promoted by Fred
-. -Shaffer of Denver, has increased the
force of men working on the Wedge
fraction, the claim lying just south of
the Sandstone. The Wedge has at
tracted considerable attention since the
Sandstone has become successful in
the lower levels. Tt is in the same for
nation and much work has already
been done.
OdHuSlOTm VIII ray.
The Sandstone viii doubtless be the
next company to pay a dividend. but
Gorge Wingfield, who is in control, re-
fuses to divulge his plans. The COM
pany is able to hand around several
hundred thousand dollars among its
stockholders if IL cares to do so.
Wingiield and United States Senator
Nixon are interested in large number
Of properties together. None OF them
are dividend payers as yet but most of
them are so favorably situated as to
De prominent n camp. Some OF them,
Ike the Sandstone and Kendall. are
producing ore constantly and the local
talent is kept b. sy watching the move
ments OF Wingfield, who is always on
the ground while Senator Nixon is in
Washington Booth, Columbia Noun
tain, Blue Bull! and Conqueror are
among the Wingfield-Nixon properties.
The January mine has found il neces-
sary to install electric machinery and
viii practically be closed down for the
next ten days while the work is being
Gone.