The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-04-04
MAY DAY HOLDS
HAPPY REUNION
Annual Meeting Brings Out
Satisfactory Shape of Old
Tintic Producer.
YEAR ENDS WITH A
BALANCE IN CASH
Last Friday Raise From the
Fifth Level Broke Into
High Grade.

II was very we'll satisfied crowd of
shareholders who convened on Monday
afternoon 10 transact the annual business
Of the May Day Mining company The
hour glass for the organization has been
reversed, and the underground condi-
tlons today are as pleasing and promis-
ing as they were disappointing and ad =
verse just year ago.
There was one change made in the
board OF directors. ], C.. Dick being
elected as the successor Of n. S. Nelson
OF Mt, Pleasant, The board for the COM
Ing year Will consist of John Dern,
James Chapman. NJ. p. Braffet. ". S.
Mccormick and J. c., Dick
Financial Condition.
The financial report submitted reflect
cd the improved conditions In company
amairs The i% oSN year az began with an over,
$i394 40 cash on hand the year extend
ing from April l, 1910, to March 81. 1911.
During the year the company sold 3205
tons of ore, valued at S52,766 so. and 69I
tons OF concentrates, valued at Sl4 543 20.
From assessment No. 2 the sum Of Sl6.
600 was received, which, with mlscceIlaan-
eous receipts OF s247.04 brought the
total receipts to $50. $3.50.
In describing the discovery OF new ore
by leasers on the 4oO-foot level, super
management started for the same re-
source after the expiration OF the lease
by raising from the 500 level This work
gained, and for sixty feet the manage
ment has been making into first class
milling rock.
Is Large Ore Body.
Every indication, he adds, points to
this being an immense body of ore, and
ing, steady shipments OF crude ore as
well as maintaining consignments of
concentrates, He feels safe in predict
ing that he will find the same ore body
m thn
The May Day, he states, is new mine.
and having passed the lean period is
operation and production once more.
Before this strike was made the man.
agement had confined its operations 10
drifting east on the l1oo level, reaching
lime. Griggs believes this work should
be confined. The handling OF low-grade
material on the dumps during the year
velopment work without calling oil the
stockholders for more than one assess
ment
Shipping Ore in Raise.
To this report Griggs submitted a
there having been an important dis
closure made on Friday last. or since
;he above report was prepared. This
seventy feet in ore, and shipping grade
had made its appearance. Miners were
put to work breaking this better rock
pl MOHudy, anu VIII De maze
as speedily and as often as possible.
Nothing illustrates the change in May
Day better than TO recall the action OF
the Uncle Sam directors several months
ago in distributing several hundred
thousand shares OF May Day. long held
in its treasury, stock dividend to
the Uncle Sam folks. The reason as
signed was that the May Day would
likely be compelled to finance season
OF development work at depth by call
Ing for assessments. and the directors
n M ha1 h1 mol Cor
one OF the largest shareholders should
be subjected TO this drain on its treas
ury.
There was no torch light procession
OF Uncle Sam stockholders to celebrate
this event, and judging from the big
blocks OF May Day thrown on the mar
ket at the time a number felt equally
unable as the Uncle Sam to meet these
expected assessments.