Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-08-20
MINING, BUSINESS and STOCKS.
MAMMOTH COMPANY
ISSUES STATEMENT
Has Income From Golden Chain Opcr'
ntlons--Company Has Purchased
More Ground Adjoining.


q An interesting statement az 20 re-
4 cent purchases by the Mammoth COM
lpuny and the reasons for the recent
for the first time In the
t2s years OF corporate existence Of the
y ,concern. has been issued by supt
Samuel Mcintyre Jr. and r NJ Will
f. kinson. secretary Of the company The
fltatements which are being received
by stockholders are as follows
"The levying OF an assessment on the
tsharcs OF the Mammoth company be-
.{nng the first act OF the Kind during
ITS more than 20 years corporate eH-
flstence. the Indulgence NJ stockhold-
iers for the seeming neglect OF the
: management In sending out any Wofu
snf explanation Is respectfully asked.
trhis company has now paid S2,22u,-
ltu00 In dividends. a sum that consider
fpbly moro than equals the par value
taf its 400 600 shares of stock. and no
FEAR is felt but what the company
twill be able to pay many additional
hiividends IN the future. but com
bination OF circumstances has made
M imperative that the pending l0-cent
assessment be collected That this
.1rst call will be the last the company
fhas every reason to believe. that an
:pther may never be necessary Is the
iiervent hope of the management
n 1T II a matter OF general knowledge
Chat long ana expensive lawsuit
.Uith the Grand Central company was
linallv decided against the Mammoth
and a Judgment OF s17T,O00 had TO be
paid. The last .installment OF that
Judgment was paid In January. this
YEAR.
TO better protect itself against the
encroachment OF neighborlng COM
Danics. and I'm order to add 20 its pos
lessions, considera BILE ground that was
,hither known or believed to he ex-
remely valuable, the company has been
Expanding approximately 100000,
While II has been inauguratlng and Is
how carrying on a campaign OF devel-
3pment in this added territory which
win eventually prove. IL Il believed.
lihat the best interests OF the share
'nolders have been conserved. While
there Is no disposition 10 withhold
my information from the shareholders
Ibf the company Il is not considered
wise to explain In great detail every
hing that has been done In this re-
ipect.
WRECK OF ENGINE.
The accidental wrecking OF the
arge hosting engine and the great
through the falling OF the loaded cage
o the bottom. n distance OF 2,100 feet,
which happened late in June. has
treatly retarded operations and en-
allied an additional expense for re-
pairs OF not far from $4,000. These .
hings, coupled with the fact that most
~ the ore bodies producing a market
lble product have deteriorsted to an
Axtent that, since the accident. only
a meager tonnage OF shipping ore has
Been mined. accounts for the depleted
Condition OF the companys treasury
NJ this time
AS TO the future outlook, II may be
aid that among the new purchases Of
sround was included a half interest In
The Don Pedro claim, which cuts into
ne companys possessions on the
Aoutheast. and In which the Golden
chain Consolidated. which owns the
bther half. has been mining ore for
Tome time past that Is worth in the
leighborhood Of so. 500 per carload.
Inside from the several thousands OF
dollars per month which will be the
Mammoth compAny's due from the
operations OF the Golden Chain in this
iround. your company Is now drifting
put on the 1,30O.foot level to intercept
his same fissure As the estimated
distance TO run in order 10 make con-
hections Is something like 400 feet.
ina as tnefe IL lsVVU rect more 10
lover, II will he some time before the
objective point Ia reached.
Another purchase made by your
company is that OF the Last Show
elsim. In the eastern portion OF the
fompany's possessions In this claim
. great ore bearing assure has been
mined by the Mammoth company and
ensatlonally high grade ore has been
.hipped from II. This assure. which
y showing little but low-grade ore at
he present time. Is being followed in
o the Welding claim with the hope
md expectation that commercial
boots of ore will soon again be or
hned. The small amount or CONNER
isl ore that docs make In this assure
IS being taken out and shipped.
CENTENNIAL EUREKA LODE
The operations Of neigh bors along
ne northwest boundary lines OF our
property have convinced us that the
lreat Centennial-Eurek lode runs in
b Mammoth territory a drift from
he 2.100-foot level Is now being sent
tut 10 prospect that ground. and there
y reason to believe that the work will
lrove highly remunerative to your
company
while the expenditures for develop
nent work will be necessarily large
Turing the next several months II IL
believed that. when repairs 20 the
hiatt and machinery have been COM
lletcd and we are again In shape to
prosecute the campaign with greater
igor. we can get along very nicely
fithout having TO levy any more as
essments"