The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-09-07
PRESENT STATUS
KNIGHT MINES
Colorado Will Pass Dividend,
but Iron Blossom Should
Maintain Rate.
W. l.. MANGijM GIVES
REVIEW OF OUTLOOK
0peX Board Meets Monday to
Determine the Future Pol
icy of Company.

While in the city "Wednesday from
Provo. and asked 10 give Tho latest in
formation possible about the various
Knight mining properties. W. Lester
Msncum one nf the directors Of the
many Knight companies. went over the
field thoroughly not hcsitatnG 10 give
the weak aS well as the strong points
Of the companies with which he is con-
ncctcd.
In The first place. he stated. the Colo
RADIO directors win likely not declare any
dividend az their regular quarterly mcei-
ing next Monday. The reasons for this
have been given In these columns late
" and summed up can be stated mainly
10 consist OF depleted orc reserves and
the necessity for conserving the cash for
further development purposes. The nlan
an the present timc, therefore. is 10
cease dividends unless something unfor
seen should occur in the meantime,
Iron Blossom
II is not until October 10 that the di-
roc,ors OF The Iron Blossom company arc
10 convene for dividend purposes. Mr.,
Msngum stated positively that there Is
uo reason why this company should not
declare Its usual amount OF profits. Al
the time or the meeting The company
will have the largest cash reserves Of
it's history. and unlike the Colorado. the
mine has abundant ore TO fall back on.
Earnings arc steady and generous with
The Iron Blossom company.
Fate Of Opex.
Tho fate of tho Opex's immediate fu-
ture will likely he up for determination
2 Z the Monday meeting OF directors. Re
suits. as is known. have not been
favorable wi;h the OpcX ~ expected
The company under tho existing pro-
eranlme Is using about $4,000 monthly
in development work. and IL is time
for the directors To either determine on
Il continuation OF the assessment policy
al the rate Of 3 cents share per quar-
Ter or 10 cease work until something In
The nature Of more favorable clew lis
disclosed on some OF the neIghboring
The Eureka Swansea Extension prop
crly Is being developed via the 2000foot
level OF Tho ODeN. The drift is now 1000
Ioet long and II is within the Eureka
Swansea Extension ground This work is
being sent 10 cut the contact which shows
on' tho surface and which is OF Il genuine
promise.
Beck Tunnel.
Pending tho definite determination of
future lines of development on tho Beck
tunnel property, the management has
sent IA good tonnage Of ore 10 market
clearing about $1,000 over and above op-
Grating expenses The Beck Tunnel is
~ a position 10 make good. but every
thing cannot he accomplished In "A day
several annual stockholders meetings
have been held IN Provo during The week
Black Jack met and elected jesse Knight
II. @. Mcmillan. T. ID. KimbslI J. VII
liam knight and Mr.. Mangum directors
ms pphEu no" mas nnder consideration
thc proposition Of leasing the lower work.
irgs To Eureka operators, out any deal
has not progressed as vet TO the POSI-
live stage.
Mineral Fiat.
~ The Mineral Fiat annual meeting,
Jesse Knight. G. Jenson. J. William
knight. r. r. Alien and Mr. Mangum
were elected directors. The management
Is al work on This property with the sole
view 81 securing complete patents and
no greater amount OF work will bc de-
termined upon until patents are OBJ
;elned
Operations ON the Dragon Consolidated
group have boon limited now TO working
VIA The NO j Iron Blossom shaft The
Dragon shaft work has been discon-
iinued and one OF the largest forces OF
tnat section OF the camp has been laid |
or This new line OF work Will reduc
expenses 10 the minimum. and in addi-
lion give the company more satigfac-
lory entrc 10 depth. The drift Is in the |
Dragon over 200 feet and conditions arc
very encouraging, One day there Will he |
n iu'l tacc OF good ore. but on the next
The ore VIII either pinch out or turn into |
concentrating grade. Mr.. Mangum be-
! eyes the chances for striking a good
body or ore In the old Governor section
are very favorable