The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-06-09
WILL sioux CON.
PAY DIVIDENDS
Company'S, President Says 1t
viii Make First Pay
ment by August.

several parties were in from Tintic yes
terday with samples of ore from the strike
that has finally been officially admitted
to have been made in that mine, and Sen
ator Reed Smoot, president of the COM
pany, who was questioned in this city
saturday evening by stockholders and
members of the mining exchange, is re-
ported TO have said that he was willing
10 stake his reputation that a dividend
would be paid by Aug. /.
The samples of ore shown are a rich
looking hard carbonate that would UNI
doubtedly assay better than 40 per cent
lead, and, judging from the liberal guam
uty of horn silver and other evidences
OF rich silver contents it is more than
probable THAT the stories regarding the
value of the rock are not much exag-
gerated. ]. b. Simpson had a chunk OF
the ore that was sent in to him from
camp with a statement that the lowest
assay obtained in camp showed more than
$40 ounces silver, with values running
from that up to more than 5000 ounces.
IL Is declared that ten feet of ore that
cannot possibly go less than 500 ounces
silver and 40 per cent lead has been
opened up in the bottom of the shaft and
that the quantity is counted upon to de-
Veiop into something phenomenal. 1t now
looks as though the strike was going to
add another big producer TO the rapidly
growing list in Tintic and that the stock
or the company would repeat the history
made in Colorado
And this is the feature of the business
that Is beginning to worry brokers and
cause them, this early in the game to fear
the outcome Colorado was advanced
with almost lightning rapidity from
around u 10 " or better per share Tn
der similar strike conditions, il may be
fair TO say that Sioux Consolidated Oc-
cupies better prospective condition
than surrounded Colorado, i'm the fact
that il seems TO be coming at a time
han lFauN IL
may be expected to improve. while Col
oradO stock was around the top when the
financial slump came and the smelters
began to close their doors against ore of
any and all descriptions.
1t should help market patrons. how
ever, to calmly consider what happened
to Colorado. The stock began to move
in January. last year. going from 81 20
10 "a 1t soon became apparent that
dividends were likely to be continuous
and i'm April the stock touched SO; in
June II went to $3.50 and in July to Sis.
the high mark of its career up to date.
BY November the stock was down TO s.
again, and hundreds of holders went
worse than broke on the decline Since
then the mine has been opened through a
second shaft, and the ore has been prac-
tically opened up for more than 1000 feet,
but the stock has not climbed i'm SYM
pathy with the wonderful improvement
in the mine
Sioux Consolidated. therefore, may be
due for rapid advance after it is shown
that the goods are there and that div
ldends can be paid, but the way in which
il has been manipulated by the insiders
suggests that il is likely to be a more
dangerous stock to trade in than Colorado
ever was In the light of what happened,
IL would not be surprising if a great body
of rich ore were developed, the manage
ment should close the mine down and
issue statement TO the effect that the
ore was petering out and then flood the
market with cheap stock to break the
price and make another cleanup. Maybe
such thing will not be attempted; but
il is natural for the public to fear the
fire a little after being once burned.