The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-07-08
MAMMOTH HAS
ASKED FOR HELP
Generous Old Dividend Payer
Has Long Series of Very
Hard Knocks.
TEN CENTS IS THE
DEMAND PER SHARE
Recent Accident at Property Is
Immediate Cause for Dis
treSS Signal.

For the first time In its long and hon
orable history, and after the pleasant
task Of distributing a total OF $4,000 900 In
| dividends to stockholders, the Mammoth
Mining company OF Tintic is experiencing
the novel, II disagreeable. sensations
incident to an assessment. Assessment
No. l, OF 10 cents per share. has been
called for by the directors a combination
Of adverse circumstances compelling this
initial demand from shareholders rather
unexpectedly.
1t will be recalled that few months
ago the famous case of the Grand Central
against the Mammoth company was de-
termned definitely by the highest court
OF the land In favor of the Grand Cen
tral. BY this final decree the Mammoth
officials had to dig down Into the COM
pany strong box and fork over S1s7 900.
Appreciating the uncertainties OF mine
litigation. the Mammoth directors, long
before the legal fight was over, had
placed the probable amount OF the Judg-
ment out at interest so that when pay
day came the money was ready.
a few days ago the engineer was hoist
Ing a cage from between the 500 and TOO
two mine cars laden with ore In some
unaccountable manner the cage caught,
or must have caught, against the SHAFT
timbers. the clutch which had done eff
and the cage and contents began the
wild Journey from the GOO to the 1900
level. The rapid unwinding OF the cable
simply tore the gallows frame, hoisting
engine and hoist house to pieces, parts
OF the engine being thrown several hun
dred yards. The l2X12 timbers OF the
Fortunately. no one was badly hurt, the
engineer having n close call for his life
as the wreckage began to fly.
The damage, occasioned by this accl-
will al 1STh nd n N
eastern machinery expert will be on the
ground today to complete plans for re-
installing the equipment, 1t may be that
a complete line OF machinery will have
to be installed yet something may be
saved out OF the wreckage.
1t Is understood that the company was
overdrawn to a small amount at the
banks when this accident occurred, but
not 10 such an extent as to necessitate
the assessment afterward imperative,
While shipments are being made at pres
no market at all. the closing OF the
Knight smelter at Tintic causing a cessa-
ton OF ore shipments for long time
Considerable development work Is being
prosecuted both In the Mammoth terri
tory proper and in the Don GedrS claim.
OF which the Mammoth and the Gold
vided one-half interest. This Don Pedro
work Is being done on the 1900 level of
the Mammoth shaft and results are ex-
pected at an early date. The. manage
ment also is developing into the Cleve-
land territory, In which the Mammoth is
the main owner. and results are expect
ed there shortly, One close to the COM
pany said on Thursday that the Mann
moth was by no means ready for the
mine undertaken. multiplication of diff
ficulties operating to place the organiza
tion temporarily In straitened circum-
stances.
Assessment No. 1 IS delinquent on Av
gust s, the sale day being August 27.
Nevadas in San Francisco.
James a Pollock & Co, bankers and