The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-04-18
MAY DAY COMPANY
TO Be REvAMPED
Million-Share Company Thought
to Be the Plan in Uncle
Sam Deal.
HALF WILL GO TO
PRESENT STOCKHOLDERS
Uncle Sam viii Acquire the
Balance of Stock If Deal
Goes Through.

II is understood that the details sur
rounding the deal by which the Uncle
Sam Consolidated and the May Day
companies are to come under one man
aging head are being gathered IN and
placed into tangible form. The deal
has created no end OF interest in local
circles. and local circles from the first
mention of the subject have considered
that there was something not hereto
fore thought of in this new order Of
things There was some pretty strong
incentive for those interests prominent
" connected with the Uncle Sam Con-
solidatcd to slip in and secure the con-
troll of the May Day
Several DAYS ago Tho Tribune ran an
article stating In effect that the Uncle
Sam Consolidated had the Beck Tunnel
ore body on its s00-foot level. In GER
tain quarters this statement did not
meet with much crcdence, even some
Uncle Sam stockholders failed to credit
II. The Tribune could have gone fur
ther in giving expression to the firmly
expressed opinion of mining men who
knew conditions there, and ii could have
stated that the Beck ore body will be
found on the May Day as well. The
theory, and ii is expressed as a fact
more than as n theory, that the Nav
Day and the Uncle Sam are 10 find
the Beck resource within their lines
is one argument used to demonstrate the
wisdom of n unity of interest between
the two organizations and accounts in
part for the May Day acquisition
Those who doubted at first are now
willing to believe that the Beck ore is
not confined to the Beck lines Min
ing men who arc in r position 10 know
what they are talking about state that
the May Day will have at least 500
feet of the ore body along its strike,
one thousand feet. The reports that
are coming from the S00-foot level Of
the Uncle Sam are almost too good TO
be believed. An enormous body OF mill
ing ore has been opened up, from wall
TO wall it is stated that one hundred
feet can he measured, and that any
where from SIX to twelve feet of this
is shipping grades of lead and silver
ore. The whole thing may make into
shipping grade in time, but at any
rate there is ample ore available for
mill and market direct that is highly
gratifying to the stockholders,
II is hardly n consolidation that is
being planned for the Uncle Sam and
the. May Day companies. No authori.
Ldl'e announcement is yet available.
but the proposition which Will be hand
ed the two companies for determine
ton is pretty certain TO be as follows
The May Day company is 10 be re-
yampcd. \ new organization will be
formed, capitalization being 100000
shares of stock Five hundred thousand
shares of this stock will go to the
present owners of May Day stock.
while Uncle Sam will take over fbe
balance. At what rate per share this
exchange and acquisition will be made
has not been ascertained, but the plan
has created favorable impression
wherever understood.
Inc two properties Will then be de-
Vcioped along the most economical lines
Ihat couid be desired. much more so
than under separate management and
interests. The Uncle Sam will retain
its Humbug and Richmond Anaconda