Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-07-15
MENDHA-NEvADA SOON
TO PAY DIVIDENDS
Phoebe Property TO be Bread Winner
Before First of Ycar--Is-ucs Re
port to IL. stockholders


country. ana that is the Menda- Nevada
Mining company, which IN the early
days contributed some 100000 10 the
great wealth of Phoebe. Stockhodors
Of the company are receiving state
ments issued In accordance with tho
Nevada laws telling Of the work being
done and announcing that within 20
days President Thomas Osborne be-
lievcs the dividend period viii arrive.
In the past 10 days the company mas
shipped eight carloads Of orc to the
market. and from now on the com
pany win ship Ia the neighborhood ol
three or four cars Of ore week.
The statement relative to the com
pany and bearing the signature of 7.
j. Osborne. president and Murray {
Godbe secretary, says In part
The Mendha-NcNada Mining conf
pany is a corporation organized under
the laws OF Utah.
1.-THE name OF each mining claim, etc,
IS the Melissa. the Hamburg. the Mend
ha the Mendha- East, the Navy, the
Navy West the Battery. the Northsid,,
the Army the SOuthsidc, the Northsido
No 2, the Southside No. L. and the
Navy and the Mendha East millslteS.
All owned by this company. All the
claims are being worked by one general
system. and all are situated IN the
Lincoln, state Of Nevada, about eight
miles west OF the town OF Phoebe. and
which is the nearest postotfice.
The title 90 the Melissa and the
Hamburg claims Is In Zee simple, nav
ing been patented. Title u all tho
other claims Is possessory The claims
we're acquired by the company by Yur-
chase from r j osborne, John T.
Cook. and william Lloyd. the then own
crs.
THE surface improvements nre
grouped principally on the Melissa and
the southsido claims, on the South
side claim unpatentcd, there are three
dwelling houses. four miners sleeping
cabins and assay office. all butt or lurn-
Der. on the Melissa claim, patented
are situated hoisth0use, blacksmith
shop. two ore houses. head frame over
a 900 foot shaft stable, gasoline store
house and clearinghouse. all built or
lumber one 40-hOrsepONcr Fairbanks
Morse gasoline hoist. with air compres-
sor, tanks. pipes. etc. mine cars. Tools
drills blacksmith outfit etc all oelng
in actual use and operation by SAID |
company on its patented and impatient |
ed ground.
''The value Of said buildings. ma |
chinery. etc, Is approximately Ss'Vp'
The total number OF days labor COW
cred by the statement has been ,zV''S |
on unpatented property. and 1000 days
OF money paid out for labor therefor
was S7.67S.75.
THE company Is authorized to issue
1 900 600 shares at a par value or 81
each. only one class Of stock.
TREASURY STOCK.
Treasury stock was originally set
aside To- the amount OF 100000 shares.
No treasury stock has been offered
for sale. and none sold during the past
six months as covered by this state
men; Tho number OF shares of treas
ury stock remaining In the treasury,
and unsold at this time is 10000.
The amount OF money actually
paid by such company 10 each Of its
superintendents, or TO other
persons. was: Paid 20 the general
5000 office rent. 1920; adver-
Using, $40
This statement or report covers the
period between Dec. 20, 1903 and June
20. 1910"
Prest Osborne and Manager John
r Cock have also issued the follow
ne statement over their signatures:
'The foregoing statement Of the
Mondha- Nevada Mining company is
made and mailed to stockholders un-
Ter the Nevada law Of 1909. generally |
allied the Publicity act. and which IL
Intended TO ncquaint stockholders NJ
mining companies operating In Nevada !
With property assets. and whether or
Tot treasury stock Us being sold, and
@ what uses tho proceeds are put
1T does not relate TO the receipt
4 money from sales Of ore. nor the
etails Of nine opcrat ton. These will
10 supplied from tho company's Of
cc IN ordinary reports
Phoebe Is the shipping station FOR ,
he Mendha- Nevada company The !
ranch line Of railroad leading from
Hoche to Calicnte, together with about J
: miles Of tho main line ~ the San I
'edro. Los Angeles and Salt Lake J
abroad, was washed out hv heavy J
oods on Jan I, last and traffic 10 5
4cche was not resumed until Juno -. 5
me week after the foregoing state :
tent was mado) 5
READY TO SHIP :
During this period Of practically six 5
lpnths no ore shipments were mad. ;
-om the company's mines. but the ;
roperty continued 10 operate with ;
ecreased working force. and while in >
1rriug indebtedness FOR this purpose y
70 the ore developed during that per- ]
vi. and now ready for extraction ana I
nipmcnt. exceeds I'm value. several | I
mes over. the amount Of Indebtedness !,
icurred. y
Immediately on re-opcninR the y
'ad, ore shipments began with tho 4
asst week eight cars have left Phoebe
nj the shipments are now expected
continue at the rate or Four or
va cars per week. indcanitciv Tbts -
. is sold to the United states Snelt- y
E company at Salt LIKE. under CON ! II
act. II ranges in value from s9S 10 | "
p per ton Within tho next 90 davs T.
Is hoped tho dividend period Tor n
10 property VIII he In sight. though N