The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-10-08
DIVIDEND OF THE
UTAH CON. POSTED
Action Saturday Indicates End
of Troubles Reached
at Last.
ELECT NEW PRESIDENT
r. H. Claiming Succeeds
Broughton at Head of
Company.
ELECT NEW PRESIDENT

That the officials OF the Utah Con-
solidsted company are assured that the
troubles OF This famous old dividend pay
er OF Bingham are things Of history, and
that the admittedly unsatisfactory con-
ditions OF year ago have been altered
10 far moro gratifying point, may be
taken as certain by the action OF the di
rectors yesterday in declaring u dividend
of 50 cents a share. This. dividend is
payable on November ii, 10 stockholders
Of record on October 81.
This Is the first dividend or the Utah
1910 when dividends were stopped by
decreased earnings and decreased re-
serves in the mine. Up 10 that date the
company had paid out dividends 20 The
dend Just posted this record viii cX-
coed the $1,000. 900 mark. or $1,000, 900. 1t
Is likely that tho company hnds Itself
IN a position now 10 continue quarterly
payments At the old rate.
Charming Is President.
Another interesting bit of information
was released Saturday regarding the
Utah Consolidated. which WAS that Prcs-
dent Urban ~. Brouchton had resigned.
and that Roscoe II. Claiming. now con
been elected 10 hll tho vacancy. Mr.
Charming was general manager before
the incumbcncy OF j. y. Risque. and he
knows the mine and its possibilities thor
oughy.
Last January year ago the Utah Con-
sclidstcd company WAS the subject of a
nesr-scsndal In mining circles owing To
the unexpected report 10 tho eject that
the ore reserves were very limited, much
less than had been anticipated. The cs-
Innate OF General Manager Risqlis was
in checking mp this estimate gave the
developed ores as measuring LII $50
tons. Engineer Claiming exploded the
bomb in the companyrs camp with the
Shx .,I,s IA
developed. averaging 2.32 pcr cont cop
per, e.05 ounces gold and 0.s5 ounces sill
Yer 10 the ton. lie stated that In ad
ditori probably from 100 600 to $50. 200
tion.
Contest at Annual.
The company. thcroupon. became di-
Nided into TWO rival camps, and at the
annual meeting soon held a spirited con-
test arose for the presidency, George
l.. Walker contested this office with
President Broughton. and the latter won
by not too liberal margin. Mr..
BrcuEhton had indicated a desire 10 re-
llnquish the executive hesdshfp OF the
company. bui he refused TO retire while
under hrc. His retirement AT this time
will doubtless swing any opposition he
might have had into line, and the return
TO successful production and dividends
should leave shareholders satisfied
~ the present time the company is
shipping lis copper ores TO the lnierna-
tlonm Smelling & Refining plant at
Tooclc. and q good sized tonnage OF lead
orc is developed in the property. which
will be shipped TO the lead smelter OF
the same company when II Is In readi-
ncss for lead smelling. Tho Utah Con-
solidated company during the past year
has continued the main shaft TO below
the 1000 level, opening it's ores TO that
depth. and getting cvUthng in shape for
more generous output.
Mine Not Exhausted
II has been the consensus OF opinion
foT year or moro past that the Utah
Consolidated company was by no means
al the end OF IT'S dividend career. The
mine naturally Is poorer by the amount
extracted. but there still is ore left In
the main levels while the depths arc
naturally looked 10 for dividend material
for a long time 10 come.
Everything points 10 this company en-
torlng the daylight again.