The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-08-20
REPORT FROM
THE MAMMOTH
Future of Tintic Diyidend-Pay-
er Outlined to the Stock
holders.
NEW GROUND IS
HOPE OF COMPANY
Don Pedro and Last Show
Claims Looked Upon as
Valuable.

The following statement by Samue
Mcintyre, Jr., superintendent. and r. NJ
Wilkinson. secretary, of the Mammoth
Mining company is being received BY
stockholders;
The levyng OF an assessment on the
shares OF the Mammoth company being
the first act Of the kind during its more
than twenty-nine years corporate ex-
istence, the indulgence Of stockholders
for the seeming neglect of the manage
ment in sending out any word OF ex-
planation is respectfully asked This
company has now paid s2,e2o,o 600 In divi-
dends, a sum that considerably more
than equals the par value of it's 100000
shares OF stock and no fear is felt but
what the company will be able to pay
many additional dividends In the fu-
ture but q combination of circumstances
has made it Imperative that the. pending
10-ccnt assessment be collected lhat
this first call will be the last the com
pany has every reason TO believe; tnns hs
fervent hope of the management
1t Is a matter OF general knowledge
that long and expensive lawsuit WIN
decided against the Mammoth and q
judgment of sl7T,000 had TO be paid. The
last installment OF that judgment was
paid in January, this year.
To better protect itself against the
encroachnlent Of neighborlns companies,
and In order TO add to Its possessions
known or believed to be extremely, valua-
BILE. the company has been expendng ap-
proXimately 100000. while IL has been
inaugr,ing and Is NOW GarTy,ns "a KIN added on
territory which will eventually prove, II
is believed. that the best interests OF
the shareholders have been eomse1NeHI tbNsId
any information from the shareholders
Of the company, II is not considered wise
10 explain in great detail everything that
has been done In this respect.
The accidental wrecking OF tho large
hosting engine and the great damage
done TO the shaft timberinG through the
falling OF the loaded cage. to the bot
tom a distance of 2100 feet, which hap
pened late In June, has greatly retarded
operations and entailed an additional ex-
600. These things. coupled with the
fact thae most of the ore bodies pro
ducing marketable product have de-
teriorated TO an extent that, SINCE tne
ping ore has been mined, accounts for the
depleted condition of the company $
treasury az this time.
AS 10 the future outlook. il may be
said that among the new purchases OF
ground was included half interest IN
the Don Pedro claim, which cuts INTO
cast. and in which the Golden Chain
Consolidated. which owns the other half
has been mining ore for some time past
that is worth In the nelghborhood or
$500 per carload Aside from the seT
eral thousands OF dollars per month
which will be the Mammoth companys :
due from the operations OF the Golden
Chain in this ground, your company Is
now drifting out on the l300-foot Level
TO intercept this same fissUre. AS the
estimated distance 20 run in order to make
connections is something like l40O feet,
and as there Is 1000 feet more TO cover
it will be some time before the objective
point is reached.
Another purchase made by your com
psny Is that Of the Last Show claim
in the eastern portion OF the company S
possessions In this claim a great ore
bearing assure has been mined by the
Mammoth company and sensauonauy
h!gh-grade ore has been shipped from
IL. This assure, which Is showing little
but low grade ore at the present time. Is
being followed into the Welding claim
with the hope and expectation that com
merciaI shoots OF ore will soon again
be opened. The small amount Of com
mcrcial ore that does make In this fis-
sure Is being taken out and shipped.
The operations Of neighbors. along the
northwestern boundary lines OF our prop
erty have convinced us that the great
Centennial Eureka lode runs Into Mann
moth territory. A drift from the 2100-
foot level is now being sent out to pros
pect that ground. and there is reason
TO believe that the work Will prove
highly remunerative to your company
While the expenditures for development
work will be necessarily large during the
next several months. II is believed that
when repairs 10 the shaft and machinery
have been completed and we are again
in shape to prosecute the campaign with
greater rigor. we can get along very
nicely without having to levy any more
&c