The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-03-06
IRON BLOSSOM TO
INCREASE DIVIDEND

The Eureka Reporter has the following
many interesting comments on various
Tintic companies:
! II is now almost certain that the Iron
] Blossom company Will pay n l0-cent divi-
dend. or about 500, 900 during the pres
! ent month or early in April, The dtrec-
| tors of both the Iron Blossom and Colo
RADIO companies will meet AT Provo next
week, and there Is no question but what
| the regular quarterly dividends Will be
| paid. IT, is said that one of the COM
! panies Will pay in March and the other
! In April in order 10 distribute tho work
attached 10 the payment OF these divi
dends at tho Knight offices at Provo.
1t is reported that after paving out tho
last dividend the treasury OF the Iron
Blossom contained about 100000. and
since that time money has been pouring
into the companys strong box a a very
lively clip. il the present rate OF ship
ping continues, the second quarterly divi-
dend from this mine for the year 1911
will probably be Sl5O,0o0.
Lehi Tintic.
Superintendent Nichols was In camp on
"Wednesday from the Iehi Tintic prop
erty in North Tintic, and states that de-
relopment work is going merrlly along.
This week work was discontinued In tho
main tunnel, which is now i'm sonnet thing
over 100 feet. and another tunnel started
for the purpose OF opening an entirely
new vein from which some good surface
assays have been received. Mr.. Nichols
did not have much To say about the
property, but intimated that there might
be something Of interest to hand out to
the public within a few weeks.
The pumping plant which supplies wa
ter for the Centennial Eureka. the Bull
lion Beck and May Day mines. and which
was put out OF business by fire A couple
of weeks ago. was started up again on
Saturday OF last week, The pumping
machinery was repaired under the direc-
ton OF James knowles. master mechanic
OF the Centennial Eureka mine. and while
the repairs were being made big force
Of carpenters rebuilt the building over
the machinery.
The pumping plant is owned by the
Centennial Eureka and Bullion Beck
mines.
Swansea Consolidated.
J. VIII knight. manager Of the Knight
mines. has been absent from the state
for the past few days. and upon his re-
turn contract will no doubt be let FOR
The sinking OF The shaft at the Swansea
Cons. mine at Silver City. James Dugan
well known local mining man. Will per-
calls for sinking the shaft 10 a depth
of about 1000 feet. number Of local
mining men have considerable faith in
the SWANSEA. and The news that work is
20 be taken UP soon. resulted In the pur-
chase of some pretty large blocks OF the
stock.
Dragon Starts Drift
Early In the present week drifting from
both the 500 and 1000 levels OF the Drag
on mine al Silver City was started |
These drifts will cut through very In
tercsting section OF mineral ground. and
the work VIII be watched carefully by
those who have always been Of the opin-
ion that the Dragon property contains !
rich ore deposits beneath the large bodies |
OF iron from which the heavy shipments
are now being made.
Local people have for some time been
expecting the Victor Cons mine 10 re-
sumo work. but the officials Of the com |
pany are not prepared TO say when work |
will again be taken up. There is some |
little money in the treasury. and there |
are reasons TO believe that the develop |
ment Of the company's ground will be |
under way early In the coming spring |
Like most OF the other Tintic stocks, |
Victor has been active for the past few |
weeks.