The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-05-22
sioux ISSUES AN
ACCOUNT OF MINE
General Manager Loose Says
Better Than 1925 Dividends
Per Share Left.
ONE MILLION DOLLARS
WORTH OF ORE REMAINS
Believes Company Has Bright
Prospects in the Older
Mine Workings.

ACCOMPANYING the dividend ehechS
of tho Sioux Consolidated company fof
the month of May is printed state.
mcnt signed by c. E. Loose, the general
manager of the company. This state
mont is ono of the first complete ac'
counts the public has received IN re-
gard to the Sioux. and it Will prove
10 be interesting reading. Iho state
ment is here reproduced IN fuIl;
The following statement is sent out
by the management and by tne oIuel
and consent of the board of directors
of the Sioux Consolidated Mining com
papy. The statement will be mailed to
every stockholder on the books or the
company to date It ~ sent out Tor the
purpose Of informing the stockholders
as TO the exact condition OF The com
panv at the present time, and also 10
Jet them know what they may expect
from the company for the next year
at least
We deem il advisable to ISSUE this
statement at the present time because
of certain statements concerning the
Sioux, entirely false and misleading,
which have been in certain eastern
market letters, during the last few
months The men who have made these
statements dcrogatory to Sioux Con-
solidated either willfully warped the
facts or spoke from sheer ignorance of
true conditions.
Sioux Consolidated to date has paid
out in dividends 1887 SOP .2s, and will
pay out in the future Judging from
the ore in sight at the present time
at least one million dollars more. This
means a little better than Sl.20 per
share to he paid on the stock from the
present time, as there is issued and
drawing dividends only 145,3S9 shares.
The remaining 254.6ll, shares are lying
intact in the treasury.
The foregoing statement is made only
after the most careful measurements OF
the present ore body and from COM
putations of its value, based on the
average value of the ore at the present
time. This brings about rather re-
markable condition, and we are forced
to admit that we have never before
seen in any market n stock selling for
less than the dividends actually in
sight IN the mine. We are not issuing
this statement for the purpose of ad
vising our shareholders to buy or sell,
but simply for the purpose of giving
them the real facts first hand, and put
ting them i'll position to act intelli-
gently.
We wish TO handle another impress
sion that has obtained general circua-
tion and more or less credence, due
largely TO the efforts of the authors of
the before mentioned misleading mar
llet letters. The impression the enemies
of Sioux Consolidated have attempted
to spread is that the property consists
Of only 600 feet of the so.called Colo
RADIO Sioux vein, and that when that is
worked out the mine will pass into
history. The management wishes TO
brand this statement as false. Sioux
Consolidated has over fifty acres of
ground. The old original ore shoot. "
ing about 500 feet to the west Of the
present workings: traverses the entire
acreage for more than 1000 feet in
ler.gth. consequently the management
believes that there is ore. disconnected
or connected, living between the present
ore shoot and the old Sioux workings.
These old workings are again in ore.
and as they lie on the same incline this
has strengthened the hope of encounter
ing new ore bodies, lying parallel TO
these old bodies. Aside from this there
is every possibility that other ore bodies
Will be found lying. deeper and possibly
connected with the present famous
Colorado. Sioux orc shoot.
Believing this strongly, the manage
ment has installed a compressor. which
gill furnish the air and the power with
which they can do extensive prospect.
ing. They have been unable 10 do this
before as the old compressor was put
in mainly for the purpose of prospect
ing, and has been hardly able to han
die the present amount being taken
ont, not to mention doing additional
pospecting.
In the next len DAYS the new com
pressor will be working. and we want
10 assure the stockholders We will i'm.
mediatelN institute a vigorous prospect.
ing campaign, and in the opinion of
the management, with very bright
chances of success. This prospecting.
however, will not interfere with tho
regular dividend