Show GOLDFIElD CON IS I GREAT PRODUCER Annual Reports Tell of Giant Strides Made by Young Bonanza Remarkable able accomplishments for a producer are shown In the report ot of President George WIngfield to stock stockholders stockholders holders of at tho Goldfield Consolidated Mines company presented at their annual meeting hold held Monday In Evanston Wyo During the fiscal year that properties produced tons of at ore are areat of at an average value of per ton or gross from which It realized a recovery ot of 9 per cent or net returns or This was accomplished at ata ata a mining milling transportation and gen general general eral expense ot of per ton and a devel development development expense of at per ton making a gross operating expense ot of 67 per ton Its gross earnings for tile the fiscal year including tease lease royalties and miscellaneous ous earnings were Its gross Expenses were Its net profits are arc It disbursed during the calendar year reo ree divIdends at the rate ot of 3 G cents a ashare ashare share each aggregating and declared a fourth dividend at the same rate together with an extra dividend ot of 20 cents Q e share shae payable to stockholders of record on the last day of at the calendar year malting making total divIdend disburse disbursements ments to stockholders within the calen calendar calendar dar year of approximately or a share It commenced the al year with a each balance of and closed the year rear with a cash balance of and had bullion bumon and concentrates in tran transit transit sit amounting to New Ore Swells Profits The report of General Manager J H MacKenzie says In part the of opera operations operations In the new Consolidated on December 26 1008 the grade of ore was held at about 16 1 a ton for a few weeks while all details of operation were bIng perfected and then raised to a point which would 10 the tn of a cash suI plus f sufficient mag magnitude In excess of require requirements ments to form an ample safeguard against an any events which might our When hen this result was attained the theal al alJe le of ore was reduced to toan toan an average which would result In addi additIOnal economies through the mining of a larger proportion ot of lower grade together with ore ot of higher grade and continue to produce current profits in excess ot of d nd requirements ot of about monthly During the last month ot of the fiscal year rear however ore oro of at such high grade was on the from the Clermont shaft that the small quan quantity quantity extracted In the course of develop development ment work Increased the net profits nearly for the month Improvements under way to Increase the milling capacity from 6 60 O tons a day to at least 80 tons a day are In the reports and it Is saW said that In the event that the ore bodies os es the bonanza shoots In the Hamp Hampton ton ion and Clermont continues to hoW their strength at additional depth the building of at a second section of the mm will be advisable Despite the pro production of at more than of ore dur durIng durIng Ing the fiscal year the tonnage and atul value ot of tho oro reserves were increased Increase 1 ReElect Old Board Routine business and the reelection of the old board ot of comprised the proceedings of the annual meeting The board Includes George WIngfield pros pres presIdent Ident T J D Hubard vice president A Air ir II Howe ry nd treasurer T 3 n H MacKenzie W Yo C J H Cars tans and W V J Walker The appointment of oC S J n H 1 Finlay as general manager to succeed J T H MacKenzie was confirmed and Mr MacKenzie Is to serve the corn com compan pan pany In the capacity or of consulting engl engi Ter |