Show ET l II MINES AND MINING STOCKS FINANCIAL Aio AND COMMERCIAL Ii II I I I STAR CON HOLDS I ANNUAL MEETING I i 1 No Explanation of the Packard Com Coin Compromise promise promse Is Asked or Offered d GREAT DEPTH IS NEEDED LARGE TONNAGE OF ORE IS EXPOSED It T 7 f r annual meeting of oC the lh Star Sta COH Cou CouF r F I L Mining company was ws pulled Cd V 1 MI morl morning and there was wast as Lt t A n of at the stormy times thueS tUe in Iii dul l I in in one orte ore year ye ago ao o when it re required re I two tw 1 or throe three tree days day to lo straighten I t linS T out sufficiently to hold hoki an elec dee II i i There was wa wa only ouy one surprise at 11 th ir moUng ting Ming held yesterday and an that thata v a iL that that no one asked for and no one oner r d the report which hieb showed how hw Milan tuIL hil Packard had h stood with the company when the compromise was reached IDd by which the company compy had hadJ hadI 3 J im in turn tuna over shares share of stock sok at atI I Hr HC 1 c a a share ha and ad accept 10 In cash from the company and and call caU everything It I looked loke as a though all al hands hads 11 3 2 d 4 agreed to let the te dead ded past pt bury buryi 1 js i d dd Ad As it i stands the company 5 1 s aured 5 the Packard stock which it i put up as a collateral col teral for a 8 loan lon ot of 10 CUi 11 I with wih which to pay py Packard the theother theother other on the agreed agree purchase Pu i going to offset any n and all al claims i liIlI the company compy nay may have had hadD D gLInt the former president oue Ol year yar y ar ago the Packard adminis administration tatIon t turned over overto to the the new officials i 6 66 but later bills bis contracted by bylI 4 hp lI former forer management to the tune of oC 5 3 12 g 8 had ha to be met so in reality the rw crowd had only a little over 1200 lO to t begin begAn with wih During the year 1608 16 tons ow of It If ore were sold for i hi the the total receipts from all al sources I I d figuring 60 as a coming front from the thea a i of or the Packard stock stok was wasI 4 I f 6 Total disbursements were i I 2903 so s the year closed clo with wih an ap apart afY art r t deficit of Election Is Quiet Th Tw election was a quiet and harino harmo LiU one the only change being in the substitution of George A Black for C CF CP F P 1 Pat Ij kard as a 8 director The board as r ii JW organized d is made up as follows II I G J McMillan president J P Turner Turne h jp f if Frank Frnk D Kimball durer taurer t A C Ellis Els and George ore A AT T Ia 11 k W V H 11 Farnsworth was again agin I i rn Pl secretary of the company Superintendent J 3 P Turner submit submitted ted hd 1 a t written ritten report of the years oper at the property and explained in b mc detail what had resulted from the 1 i 7 foot fit of work done in various por pr tj of the the nine mine Among other things h 1 stated that the th mines ore reserves al been tn sampled and measured measure up ar L rOl 1 I he ii h was wa as able to report that at the I ut time there is exposed between and ald tons carrying crr average Iu of ot better beter than 8 per pr ton In Deluding luding his report Mr 11 Turner said sid Taking the thE mine all al through there thereat i At tt present pr nt in sight that could M J 4 ruined mind 1 and shipped shipp at t a profit We WeI e I 1 prospects of 01 o getting ore soon son via h had LILl we a a contract that would J ut i lly y it i might be b shipped at a profit Says Sinking Is Necessary In Tn 1 my uy opinion if i our shaft shan was wasN 1 N l down another 2 or 0 feet fet fett t soon be b shipping good ore as MS ast asI in t I I i opper we have below the 6 level leel levelL cill MIR L down and dipping toward the haft haf liLt t would Indicate that we are not u G n fl enough lough I v uld Ull we arrange to take out all al the lr grade ore are there is no doubt we ye should be able to find some T bile hile mining it i The outlook for the I Is not discouraging in the least hut ut unless we can ca relieve ourselves our of oft i t 1 ii t slow way wa of operating the mine it itt m 11 1 be b some pome time before we can look x f T r much miKh improvement in the way of or Ii dine new ore bodies bies We Ve have bave a aM af arh f M li rh expense that cannot be b avoided t 0 AId we c operate as we should we e soon son have haye a mine that would be bein in revenue revenue to the It I I believed that when the directors r r h top ther an effort efort will il be b made to toT tor t ts T i s ir r a good gOOi go sum um of money and and begin bin r r v of or new territory in an en gr tir and systematic manner manlier The Thear Thear tu ar is i believed beleve by many may mining men meno good o judgment to have in it the mak ling Ig ig of as a big a a producer as there is in Tintic but it i will wi require a I large lar e amount of money mone to do It |