Show acers ra of chief cons co submit reports the past quarter jw has not sw been a very profitable aff one for 0 the chief consolidated a company according to figures made public a few days Wi ago the net earnings being something 5 over 18 0 0 0 the company s ing w expenses were exceptionally high during jzyk the three ay months ending on june ff vy jsu last and the W drop sy in the sa price of silver cut the mine s revenue w ff considerably A very large sum aigy of money was also spent vhf for new ptsy Pt sw pro perty aw notwithstanding ff the fact ff that the earnings of the company fell hy con t sider ably short far of the fay dividend akef ak ff re quire ments the ff directors decided in favor of ff the usual distribution aXi Ww w or a w dividend w wy of 20 r wylfa by cutting down 2 expenses if to some isow extent and adopting a new policy in aff the efey mining eff of some of the large ivy ore deposits the sy management hopes saw to jaff close the third quarter of the year yvan with a much iw bet ter 7 record than that for the second 9 development work i dope at the chief was in excess of that perform ed during the previous 22 quarter a As this work was well advanced w the company has now reduced it ap vasy proximately one half cutting 07 down wy this development if iW work permits the hoisting of a greater tonnage of ore this increased production coupled W with the reduced expenditure should ofis produce the desired isk sv earnings ac cording if to aff the belief of the officials taff the no 2 shaft says president walter af pitch senior aw s report y Is S a faw great aas burden ff as to cost but it Is hoped that mif this work will be com plated within the year and thus the W current charges will substantially be reduced aff on july arbow 30 ari the ow shaft had ff w to feet to go to reach ff its aw objective the permanent water level the iskiw completion isy iw bwy of this w work jf www without jy delay Is thought by the company to isa be extremely iskey desirable W for the second quarter of the year y iff s the following development rr w a s done jiw chief consolidated v aw mine drifts y 4 ar 5 feet raises 2 feet v dinzes 93 5 feet mining company sw drifts 61 5 feet and dinzes 5 feet total for all development J ja W works drifts 4 feet nafy fsr 2 feet dinzes feet aty ifa no 2 shaft 8 feet total footage aff 7 7 8 feet the total shipments J of ore were fw wf aw ye 20 tons dry yielding ay after 2 smelting transportation dawsy WAW sy and ship si A ping charges 95 A general description of the opera eions for abw the quarter ff as given by J my r fred johnson E superintendent Is as y follows development work vw was perform ed S in 7 the aff first zone off on W all levels V fw from the ff 0 to 1900 levels and 7 in y the second zone tw on ff the 1600 1800 Js and 1900 r levels nothing r vw new was 7 ff developed cwi in wwi the third v zone ore was way esy produced yav from all ore channels and acia vc iA mr from all 7 levels on av the second ore dav s channel leasers have developed some iSi sw new assy ore of ff good values on june py aw 30 no 2 shaft was down 1395 feet ji and concreted iffa 1377 feet in the plu st wy vw property drifting Is being pur alwy sued 7 w on the 1750 level to awa cut the w iffa w fault which Is now about feet r wr w from the face of the drift esy ufa assets i of the company are alven loyy zv sy as follows mining claims machinery and equipment 1 60 mine jett investments 92 current diew assets kaw 11 liberty jay bond in vestments 12 94 cash JM ay 36 total 3 jw 93 |