The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-03-18
SILVER king OUT
WITH STATEMENT
Dividend Passed, Owing TO the
Many Necessary Changes in
the Big Property.
WILL ALLOW BETTER
FUTURE EARNINGS
Partition Suits Now Pending
Are Entered Into in the
Statement.

At the regular directors meeting OF
the Silver King Coalition Mines COM
pany yesterday afternoon. IL decided
In view of conditions set forth i'm u
statement TO stockholders, 10 pass the
quarterly dividend The statement enters
into the matter in detail. and is as fol-
lows:
salt Lake City. Utah. March il, 1910.
To the stockholders OF the Silver King
Coalition Mines company;
"Gcntlcmcn-At 4 meeting Of the board
OF directors OF the Silver king Coalition
Mines company. held on the 9th day OF
March. 1910 il was decided To pass the
quarterly dividend ending the 3lSt inst,
in order that the surplus In the traes-
ury might be increased 1his action was
deemed by the directors TO be Tor the
best interest Of the company and all ot
It's stockholders. for the following rca-
sons:
"Flrst-Gt viii be necessary in the i'm
mediate future To curtall mining opera
ations for at least month, or there
abouts. In order that the Shaft which mas
been In operation for eighteen years or
more may be retmbered In part. While
these repairs arc being made. II has been
decided by the company To put IN a
system Of electric wires and engines LOT
lramming purposes, through tunnels and
drifts. covering distance of about tnrec
miles The installation Of such a s$s-
tom will result III n saving OF hoth tlmc
'Second-Whilc your company Is tAe
sole owner OF something over 2000 acres
of patented mining ground tolr- III thS
of which Is as yet wholly unproSpcctcdl,
still. as most il not all of you are aware
there Is other mining property III which
Your company is the owner ol an nn-
divided interest only, namely. the two
mining claims known rs the Conkling
and Arthur, an undivided interest in each
of said claims being owned by the Conk-
lins Mining company. and the remain
f,,,, Ih1 fI,Y,.
also the kentucky group. consisting OF
some twelve or fifteen mining claims. an
undivided interest In each OF which is
owned by the Treasure lIill Mining COM
pany and the remaining undivided inter
est ny your company; and the Nesuvius.
Andes Custer and Delaware Mining
claims OF which the Silver King Con
soldated Mining company is the owner
Of an undivided onc-half interest and
your company IS the owner, OF the re-
manning undivided one-half thereof.
Suits in partition are now pending
in the United States court between your
company and each oi the companies
above named and ii is deemed adyis-
able for the best interests Of the Silver
King Coalition Mines company 10 fur
ther add 10 its surplus, in order that
il may be In 4 position 10 purchase.
IL desirable the interest OF It's said CO.
owners respectively. should the property
involved in the several suits above men
toned be directed to be sold under de-
crees Of partition.
VI i'uiSt' IL ''AH'i VI Wv -'''i''
OF your company, upon partition sale,
bid for the interest held by your com
pany what we consider il reasonably
worth. IT may he advisable 10 sell and
cover the proceeds into the treasury.
Whether il would be better for your COM
pany TO sell or purchase can only be
determined when the time Of sale ar
rlvee..
I'VE wish further to say that the prop
erty of your company is IN good condi-
tinn and is proving up satisfactorily
wherever new development work IS be-
ing prosecuted Dividends, unless some
thing unforeseen occurs, will be resumed
rs soon as the necessary repairs above
referred TO are completed.
Yours very truly,
BOARD OF DIRECTORS OF Tr~
SILVER KING COALITION MINES
COMPANY.
"DAVID KEITH. President,
THOMAS kEARNS. Manager.
"F j. WESTCOTT Secretary"