The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-10-09
TWO DIVIDENDS
ORDERED PAID
Uncle Sam and May Day Come
to the Front With Usual
Declarations.
NO CUT IN ORE PRODUCTION
MANAGER DERN SAYS mo REA-
SON FOR ALARM"
NO CUT IN ORE PRODUCTION

lido dividends were declared yesterday.
and more are coming before the week
ends. so cheer up.
The directors of the Uncle Sam Consoli-
dated company met at o'clock and posted
the usual monthly contribution of $l50O0.
or &c a share on the capital stock of the
company. 1t was made payable on the
18th 10 stockholders of record at noon on
the 18th, with transfer books to remain
closed until the 2lst.
At O'Clock the May Day directors an
nounced the posting of the usual 1lzc per
share, or $4,000. with books to close on
the 18th and payment to follow on the
9th. transfer books to remain closed until
the 18th.
Both of these companies are making a
fine record for production. and earnings
are largely I'm excess of dividend require
ments. Either company might have paid
more, but the management of these COM
panies is in conservative hands hands
averse to lOoting a treasury for the pur-
pose of boosting stock and creating wrong
impressions.
Since his return from Nevada last Sun
day night General Manager John Dern of
both the May Day and Uncle Sam com
panies, has been looking carefully into the
matter of production curtailment and
metal prices, things that seem to started
the stock market on the down grade with
a speed altogether out of keeping with
real conditions, and he sees no cause for
alarm.
The product of the May Day company"
said Mr.. Dern, ''is contracted to the
American Smelling & Refining company,
and this morning l made it my business
10 call on the management and learn If
il was the purpose to request cutting
down of the tonnage We are sending out.
] was assured that the company had not
made any requests on its patrons. and
that none We're contemplated, so far as
local officials knew. Neither is there any
apprehension of any material reduction in
the price of either silver or lead. though
of course the price of metals are not reg
uated here.
resentatives of the United States COM
pany, which gets the ores from the Uncle
Sam and, while this company has posi-
bly, been congested little at it's works,
as a result of a car famine and the con-
sequent rolling in of an excessive tonnage.
j am sure, from what | learned, that a
short time will see the congestion re-
moved and the company taking care of
its patrons without a halt of any kind.
The time is drawing close, at any rate.
when many of the camps will be COM
PEELED to reduce the tonnage they are
now sending to the smelters on account of
weather conditions. That, in itself, will
relieve the situation, and all of the re
duction concerns in the country viii need
all the ore they can get.
81 can see no cause for alarm in any di-
rection, as far as the shipment and sale
of ore is concerned and. if that is what
has been hurting the stock market, il
ought rot to be slumpy another day. As
long as mine conditions are right, as long
as the producing companies can go along
as they have been doing, the holders of
stock in them should not be uneasy l
car say that May Day and Uncle Sam
were never in better shape than they are
today -