Show ONTARIO Sit VER SHOWS CASH O OF OFa a OVER 3 A SHARE Annual Statement Reports J r Deficit for iI i Year C 0 Due to the at t Park City last year car th the shortage of at men lack of ot ef efficiency el- el and high cost of at materials tho annual report of or the Ithe Ontario Sliver Silver Siver Mining company for tor tho year ear ending ec 31 1919 shows a a loss after the pa payment ment of ot a a divi Tho com company pan closed tho to year car carI with total cash ch assets aset sets of oC a a share consisting wih of or In cash Ch 40 In bills r receivable and stocks ld liGOS bonds bl amounting to 39 I making making- a total of cash Ch assets of at 66 46 The company i is capitalized for tor shares 4 In tho report to the tho stockholders stockholder Manager Ernest or Bamberg-or makes tho anger Erest statement following Your attention Is called cale to tb the th fact tAt that that the stocks and bonds listed In tho financial statement aro are carried crrie at above abo the prent market value A dividend of or was paid during during- duing the year vear out of at the profits accruing from the operations of the property during the year 1918 The he operations for the tho vear er ver 1919 showed showe-d showe a lo loss lo s dU due to tho i lower grade grado of or the ore are higher costs of or mining smelter treatment charges freight etc ete and to th the Interruption o of or operations during during- the labor labor strike S Extensive A development Is 19 planned but the tho to general labor shortage 1 is seriously seriously seri seri- affecting our operations Opening Opening Open Open- fn ing of ot the lower levels has pr proven n profitable profitable pro pro- and It I is believed that the roopen ro- ro open In and extension of oC the foot 2000 will wl show re results equal equally as a fa faI ta- ta 1 I orble Tho rho men ien in charge chase of our va various vat vai va- va i rious Jious operations commendation 1 t for their zealous ous loyalty under trying trying- 3 i conditions j 1 Cold d TITO To Months Ionta 3 5 In part the report of oC N. N A. A Dunyon j I general superintendent says Rn's During the first half hal of oC the tho year 1919 99 operations at t the property w were re very er much curtailed due to an aggravated aggravated aggra aggra- labor labor condition The labor supply supply sup sup- pl ply was was cr very short and tho the efficiency of that which was wa s secured was most unsatisfactory Agitation b by the I. I 1 W SV I YV w. culminated In the early oaly summer In InI Ina a R general strike against all al tho the companies com corn I panics operating in the Park Prk City dis dis- The Tue demands of oC this organization Uon tion wore ere so radical and nd were ero presented present that the ed cd in such uch an a arbitrary manner j companies In the tho district I J felt these those actions were ero a fight tight against I t American Institutions It I was thore- thore f foro TO re decided to resist the the-m to the ut- ut j most As a D result resul the properties 1 closed cloSe down for tor a period of about abut two i 4 months month This position was WM a a particularly particularly lar difficult one for tor your property ns as tho pumps wore kept running and the mine prevented from being flooded j only through the efforts of at tho the super super- 1 j shift shit bosses bosse and salaried men Finally tho the conservative element clement clementIn In tho the camp camp asserted Itself Itsel and the tho strike was WS called oft off During this pe- pe rod man many of tho more conservative men left the district thus c causing a a. ai i further shortage of or labor work During the year exploration c consisted of feet of or drifting 1 feet of or raising and 15 feet feel of oC sinking i This Ibis development has resulted In Jn tho the opening up of oC several bodies bodlos of ore arc the te moat important of which s 15 the tho No 8 J J raise IM on the foot 1700 level vel which en enI encountered en- en I countered a good body od of oC ore Ole tor forty feet above tho foot 1700 level A raise was jut ut U up through though this ore oro and aid It was as I found lound to continue to tho the l foot 1500 level however there were places in inthis inthis j this raise where the grade of tho the aTei ore aTe i had materially d decreased The ore body should be bc productive durin during the cornI comI coming com corn I ln ing year It I is the intention at the present time to to start to-start start another another raise rise como come l ICO 10 O f fact ct cast of or this Xo No o. o S 8 raise with the hope of cutting thIs thin ore are shoot nt at nt this place Since tho the last lat report an incline has been sunk unk from tho the 1700 foot loot level to the foot 1800 toot level le cl at a a point approximately 1 1200 00 feet of oC the Ute main maln shaft shaf At the tho bottom of at this Incline drifts have b been en run rn both cast 1 and west and toward the th end of or the j I year ear s a Q good bod body of ore was as encountered at nt a point feet cast east of or the tho bottom holtom of the incline which h has been followed some distance cater easterly While j the ore here does docs not seem seem to make in large bodies it is of oC n a. n good grade and 1 seems cems to be going down Tho The west westI I drift Is being run to get under tinder the tho I large Jarge rsc bod body of oC ore encountered on the and and foot 1600 levels On tho the 1700 foot level a a x-alse x raise No 1 was put up tOO 00 feet west est of ot the tho shaft shaf which has developed a vcr very large bod body of ot low grade grado Iro ore an and It Is hoped that thal this westerly drift on tho the foot 1800 level I 1 Will vill catch the the downward downward ext extension of or 1 the above with the further hope hopet j t that the ore In question will wi be of or better better bet bet- 3 ter grade Development on tho the 1800 i foot Coot level JC has been most encouraging J nd I it lb has tended to prove that tho the values alues at this depth do not diminish On the 1600 and 1700 ol levels raise No 1 19 t as LS a above referred to shows a n large area of ot but tho grade Is such that it la is not profitable to ship Sc Several tests ha have hae e been made on the tho or ore oro and eort efforts are now being beinG made lot to develop a method of milling Considerable Con Con- stud study is being beinG given to lo this Question as the quantity justifies every effort efort to develop some Home means of ot treating treating- this large amount of low grade rade ore are Duo to the tho encouraging de deVelopment development de- de work worle during during the year on on these lower levels It is recommended that the tho 2000 foot oot level of the property be he opened up and that drifts bo be borun run and and westerly to tr try to pick up the lower extension of at the theore oro ore bodies bodles developed during the past year This will necessitate a a considerable consid erable rable amount of at new equipment and anda a considerable outlay of mone money but I ted feel that our present showings warrant warrant war war- rant this work The work of tho the past rear car has has largely been done dona below tho the foot 1500 level which is tho the main tunnel of the property necos- necos tho pumping and handling of a largo amount of water It I must bo be realized 4 of course that this Is IK an an expensive ex e- ex- ex pensive e operation but bit It is gratifying that the results obtained in opening opening in 13 these lower levela have levela have more than justified tho the c expenditures made mado On the foot 1300 level lovel the old workings east tast of No o 3 2 shaft shaf arc are being being reopened rOT for or tho purpose of oC developing the tle coun coun- cou- cou coutry try Iry east of ot what Is known as a the Great fault taul with wih the hope of finding the ox ex- |