Show AL i ANNUAL REPORT I fork Vork of Past Year and Its Results r Are Given HE FINANCIAL STATEMENT I SILVER ILVER BING BINGHAM BINGHAM TI HAM CONSOLIDATION to the fact the past pasts eats s op at the property ru pen strictly routine in character r the decided to allow Ylli Ire tor of ot the Mining Decided to allow the annual to pass p and ive ve the expense liat I 1 at Us Its Is holding would entail In 11 order nut flat the thc shareholders might be b just as asel lell veil el Informed as though the meeting ad ad been n held it wu was decided by b Pres ident dent John J Daly to 10 issue a general statement covering the ors opera perd In ions and a financial statement by treasurer U G L W Lambourne these reports in pamphlet form onn wore wre being mailed maie to t the stock stok old r rII IP II Ii hi his statement President Duly th s 1 that thit the work ork of the ye fr r lists has ff cf f ferried I f out upon Hn n agreed to toIne tone Ine ne a ar l igo go namely pl that t of or exploring II prospecting tin the virgin territory A c Rl lt 1 and adjoining the old i oik n k rigs now u cl portion of the Daly DaJ IUd ud 1 r The Thc Financial Statement Thc financial l statement is a It r t 31 n f one and shows h that thet on the ft nl first rat t tf f t f flu ear 12 1 of th authorized rrt ond le had lu d n h ii n exi t x eld eldh ended J h ti uli u h the hI t boes bo J had ben heiz sold old only IS s money s needed The receipts f r nm rom all a sources source including rown the th sale of concentrates early in p r rr ir r jS due lut from the thC smelting I ir im for Cor 1903 account for fOI I f of nf bond Issue and andI U I Jl I 1 B n bank hank overdraft on Tan Jan 1 J Jt t Par fir totaled d up tr to l j Tw h expenditures which total up to 10 hf Amount named are a explained In Ini i l detail II and ami included 30 Q Tan Jan 1 1 l Ot general c ref jpe with more mort than for per peril j il Injury and aHl damage eases cases 16 l 09 6 I mIne Rt 42 mill MC Ke MCi i iT and minor amounts for few forfi fi I Ill md mine construction ore ex cx 11 t 4 11 t Development and Results 11 i v the development work doni in the mine and the results Tf ac d Manager Manag r Daly covers the In what should be termed an all Itra fashion ta as follows The work done has been principally on n the t 1200 1210 and 1400 J levels ls and awl brief h 1 is 15 It as an n follows The drifts nave lave been run ahead Into virgin ground und on n the th different levels with some cross ut work ork for a distance amounting ap to feet feel and while rhIle this work has haa not as s yet opened as large l e ore bodies a we wp had imd ex expected parted and still hope to find ahead in inthis inthis this new territory it lias hac as passed pa d I through many small mall oot or bodies bodie of I lore ore which may mar m i probably develop dev loJ into Ithe the desired ia when the work of moping on the ore is commenced J Much or of t the ie country opened op noo up ip has the ap up arance ano of being bein ground such fuCh afi as usually makes maJ ore r bodies b in t the h e eI I Park fits elt district I Sorn Som idea of of the t passed and its possible productiveness may be gained from the th fact that in doing this work about lions tons tors of or good concentrating ore or besides I some SOffie of ot Shipping grade has haa ha taken out of these th drifts and andS andI I stored S near nat our mill The character of the ore found has changed for tor the bet bel beter er from that hat left in the old workings from rom u B standpoint stan of ot concentrating as asell veil ell as smelting it being practically f free ref from front zinc and carrying a good per pert t of lead I silver t gold and iron lues such as to make it Ita a de ore It is h the intention of the I to continue driving these I prospecting ting levels ahead for Cor some time ct as it feels confident of finding one oneo o 0 more mol of tho those thOe e large rich sh shoots x ts of ue fp re such Fouch as are found in adjoining I mn la Lea res Testing of cf f Ore 1 iou on will no doubt recall from read 5 i g S our previous reports that we have a large tonnage of de silver lead rod zinc ore blocked out in the mine 2 h to betaken be 00 taken out men it is thought liable to do so also several thou Mii tons of or a product known as zinc i r F i stored in dumps near our I ir u 1 I During the year we have hae had many manyI mn t I ats ts made In fri different works on bi both bolh th te top rude crude ore the mine as well wen as f l C zinc z from the dumps on le lots ranging from 1110 pounds pound to toT torl T rl ft ton with the object in lw vIew 1 of 01 fI lIng out the 11 best and most cx tom wom tomi I i 1 I met mft hod hud for fr their th ir tr treatment WLm nt i 1 saving tu of the different tJ t s f 1 f V t Jl or o the parties engaged en g in ink inI I k m these th e test teata nave haxe concluded their ill a ns as H and an some Ome re rea reI I 1 r r a f a are L till still tt ill t tf to coine ne the te test t ti if i reports already received rt ehred and of L aJo the management ement for the thes J IS s zinc product h heretofore fl d of or little value It is perfectly safe s ay 30 that the day da is not w hen ett shall shaH l 1 be e able to tf make these the e zinc L t c CI source FOUr of substantial revenue to Lo th lb |