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Show BLOSSOM MAKES ITS jUNHL REPORT Details of the Year's Work Given by Officials of Company. Special to The Tribune. TROVO, Feb. 22. The following reports of the operations and finances of the Iron Hlossom Consolidated Mining company tor the year ended December 1, have been prepared for mailing to stockholders by Secretary V. Lester Mangum. The report says in part: The company has not acquired any new property since our last report. Now equipment One new No. $ Leyner drill sharpener. It is a source of considerable satisfaction satis-faction when we look back upon the past "year's production to know what a splendid tonnage of pood ore has been shipped, with favorahle reserves ahead for the future. During the early part of last year we struck ore in the winze which was sunk from the 00 -foot level at the XtrT'S shaft. This ore was discovered Vi t lie 90o-foot level and was a good grade of copper ore. At the time of r our last report we were unable to determine de-termine whether this ore would continue con-tinue cut In the channel as the upper ore beds had done. This question is still to be determined, but from the present Indications it would appear i hat it is a chute of ore which we have developed. commencing at the !00-foot level and continuing down to the 1200-foot level. On the 1300-foot .level we have been unable to locate lo-cate this chute of ore, but in raising up about seventy-five feet it was located lo-cated inclining northeasterly, explaining explain-ing our failure to locate it on the 130-foot level. The discovery was so promising that we immediately started start-ed the main drift on the 1700-foot level from the No. l shaft, which is now directly underneath the wlnse at No. 3 shaft. It is our intention to make connection from the 1700-foot 1700-foot level to the bottom of the winze on the 1310-foot level, a distance of 'iOO feet las there is ltX feet difference in the eleva tion of the two shafts'!. When this connection is made it will afford a better means of extracting the copper ors and making a good circulation of air. The total distance between No. 3 and No. 1 shafts is 214 feel. We ran a crosscut to the east CO? feet on the 1701-foot level, and in this drift we crossed a small fissure which shows lead and quartz. The prospects for shipping the regular regu-lar tonnage of ore for the ensuing year are favorable. The Tintic Milling Mill-ing company is in a position to handle a considerablp tonnage of our low-grade low-grade ores, which is a valuable consideration con-sideration to our company. Increased metal prices during the past year have been very favorable to the mining' interests and the outlook is g"od for the 'future. We were j hampered, for a while the past year, , by our ore contracts expiring and the I smelters refusing to take our ores. which naturally set this property back for a time. Tiie treasurer's statement follows: Balance, December 1. 1915. .$128,997.40 RECEIPTS. Ore sales ?69:M!0.00 Bills receivable. 144.000.0" Accts r'c'vable, 7C2.50 . Interest 5.2(9.10 "Water sales . . . 429.30 -Acts receivable (acct. operation! opera-tion! 6,178.37 Unclaimed wages S.OO S977.S05.27 DISBURSEMENTS. Dividends J38O.0OO.OO Taxes 7.S34.04 Ore freiuht ... 43.5SO.91 Sampling 23. 057.95 Plant S.299.P9 Operating 286.575.97 Accident 4,141.15 Balance, Dec. 1, 1916 224.315.26 $977,805.27 Reconciliation of operating with cost sheet in general manager's report: Disbursed $26,575.97 Inventory, 1915 ( 4,303.12 Cun-ent bills unpaid 10.282.79 Nov. payroll... 15,662.59 30.230.50 S31S.S2S.47 Inventory, 1916 5 4,764.41 Unpaid bills and pavroll from 1915 19,391.55 Accts receivable receiv-able unpaid.. 1.S35.10 Sundry operating operat-ing receipts.. 6.278.37 Water sales... 429.30 $ 32.898.73 Actual operating expense ..$283,927.74 Statement of resources and liabilities: liabil-ities: RESOURCES. Cash balance. Nov. 30, 1916 $224,313.26 Plant equlp't. . . 21.51S.59 Accts receivable receiva-ble 2.220.79 S'plies on band 4.761.41 $252,796.05 LIABILITIES. Capital stock. .$100,00 0.00 Accts payable, Nov. 30, 1916 10.22.79 Payroll 15,762.34 Loss and gain. 126,760.92 $252,796.05 |