Show KNOX FACTION WINS ELECTION I Io o I Salt Lakers Were Retired Bum Irom Mon taua Board oard FINE REPORTS SUBMITTED MINE IN CONDITION TO EARN BIG DIVIDENDS The lh fh throe u ii m of o Ute stock Mock stockholders tok holders l of the Mh com company cm pany terminated terminate afternoon with the Itie election electon of ot th Ut the IO t t toke k t In l its It entirety by an sn majority u majority that wa w was always safe ate reo owing to the more mora Ulan titan 30 shares b of proxies held by Secretary R R P DunJa Senator S Nixon G 0 F J C E Enox fluX nox and A J 1 Samuels names appeared on both ticket and with name the exception fC of Knox I nox who was cut out by b the minor ity ty when it came to voting the persona th Burned carried the bulk pt l vote VoteS from tIl sides add l Mr lr Knox vote voU of ot 58 rt presents the normal strength of thE in the meeting while 31 rep rep MInted the strength of ot th the minority Ine Ih directors tor elected elete were Charles E li Knox l nox George Gen S 5 S Nixon A J Samuel Samul U irire oree P F I Badgett Dudley D Jey Baldwin R is 1 l Wanter H 11 H P Dunlap J J lan Jan and J Lynch I The ticket or oz that portion of ot It 1 which was waa defeated consisted of C K E Morris Mirris W II H 1 I A C Ellis Ella Eli jr M L McDonald and George Cen A Bartlott Bartlotti 10 i 1 ewe even the briefest feit kind kin of or a y l of the war wr f that hM baa hA been waged or u the Knox contingent nt by b the minority 1 by y Judge W jV V H Dickson A C Cl l 1 lUs us jr J Bruce Druce Kr Kramer mer A I Butte Bute law lawyer lawer yer nr er representing Malcolm L McDonald and aIt nl others would take columns columna of space apace fight all al grew out of a K difference of or opinion touching tou the payment of dividends and anti managerial nolley llcy and President C 11 1 Knox a statement ent In lila his hi annual re report report port that he had endeavored to serve the re best Interests Interest of both large lre and small shareholders shareholder was as taken tak n aa aN a a text I 1 the rr to make alt aU sorts of charges against him Ail Al Al propositions pro advanced avance by bythe bylI the Ua lI minority looking to a formal format investigation gation aton and filing of ot charges were prompt down and when it I came down downto own ij I I to t i d directors director and the minority wanted to have C E J Morris Morria Morra elected lete on tho tw ground that he had been bl neutral all l lL through the fight and that tha his lar 1 Sn n nt t r demanded that be b he recognized recognised the vehemence of Judge udIe attitude In presenting the matter mater was WIB probably tu t t reason rea n that it I was wa turned down aleo alao th ugh jugh Mr Morris was Wil given glnn ti 1 I n II through h R B B his hia hi father ln Iii law The Ile fight was waa a a stubborn und and hitter one on Personalities were often in I In and had It not been for tor the able and nI I tactful manner in which Judge J C Campbel Campbell of San Sail Sn Francisco filled fied the tl of fut tn ILL I of chairman the proceedings might at It tInca have reached a K serious arlous stage The 1 lit reports showed allowed the financial eon con condition cn of or the company and the physical condition c of or the properties were presented In great creat detail deti and when they later lter An r radl a oh the shareholders in printed form it will iU be bp seen that the company Is I on a A firm firmi Us Its mines mine all and H i ting and that Is lne are al an nit II ft rt than has ever been publicly claimed l r them A resume reum of the financial state M 1 M 7 L made up v to Auf Aur Au 31 3 makes make the fol exhibit wing Receipts i T fm ore or shipment 5 14 U transfer 1 f r fees e eon J 1 11 I on carS cam cM SS 1 r it 1 tILt OH on stock sleek 11 m 1 Total 64 oi t Disbursements I expense labor etc ete 1 85 1 nM 70 V or t account r I I 1 HI v t and ad permanent im lm haI I I w 77 1 t m dry 11 department including labor 1 bur and in itay Hi e blacksmith machine and larpenter show sh laries tray trav try hug ding and office sup P e an U as I pUts plies I II Dividend No S W 1 Balance each eVah o in ba backs ks SIMP iM 00 0 M MOre MOre Ore Statement During the year yer a total of 1 tons tOD of ot N or cr of the gross value of 00 or a ap p total value of Iro 8 0 was waa ship to market The cost of transportation and treatment was wan 1999 1990 19 i Ir er ton or 10 wa iSK si 15 This leaves leavEs the net value of the thein thet rs r hipped approximately per ton in Hf t O pr toni C hipp 14 as a shown hown in the tle financial t I t l ement ement Managers Report I he report of retiring General Manager huU ler Donald DInald 1 B 13 Gillies Giles was waa w a rather lengthy but most mot comprehensive one and it I eer cert t bore out the contention of the 4 I l faction in the old lurd 1 rd of directors that the company was wa wain declare a dividend of oft 1 in t I position to delar 5 t HW piton and continue It i for several years yer the of ti t come ome or to use ue language for six years and nine niner Judge J Dickson nin months A ter r enumerating all al the th Improvements Improvement that have havo been b made at the property dur tier durIg ISK Ig the year vear and an the new equipment pro the report shows that tha t there was wast wasS M t I f feet et t of development aO work done doe ox ax o ol T S l of all stone slopes and that there ts is J at I if 1 al 1 feet of workings in the then n Manager Gillies resort r rt then takes take up the development Gli of or the mine in all 1 tech stripped of able detail detal though teh I abl rHal Tu il al terms Toward the clues close clO he men mentions me meUn Un It ns the opening of fine fn bodies bie of or sul pl ul ore on the tha 7 foot fo tov I and I rae rec r the North a connection with wih Noth Stir c mines a wor n at that depth depth for fortt fo forti tt ti K ot of f development ventilation o In of the he miners minera employed n a nd d safety buth uth properties Ore in Sight It j is il j estimated that the ore or reserves of I the mine today toay will wi total 00 tOM toes the report No shipping grade says of ot Yi th f timatea or calculation has hs been b made as to 10 thu the quantity of or stilling ore ore as u what milling grade and that 1 a eon which is too to low to mill mi depends entirely tn n local lol me time bk back Mr lr Gillies Gile was 8 asked a ke to let the directors know what he could the money ao GO G m In the way of or irom fr m the n mine lne with which to t pty py C n s and he replied that H could be b paid pad whenever the directors cared cre to toc c U 1 for Cur it and that amount could be Maintained 1 quarterly He based his hi con CO l wi On what had been accomplished he heat n o Whit hd at the mine in paying up its It indebted monthly p earnings beginning n r I vs s anti and the binning VAU t ti March Marh of this tal year During MereSt March Mar to July inclusive the Ole monthly earnings lat I R al Jul s or practically L oW quarter Deducting 0 per perI per p for operating expenses and aud the thew tb an I earning 1 net nett As the OUt w MP was wu O A ni iIII t aury f stok stock lock would earn ern 15 of o an anI 1000 I 1 0 dividend It I only 5 W Wor 1 the earning capacity or J less lean than 15 dividend u tl t meet JUth a mee In th the report other oUter things t rpt 11 haw have a tendency to show ahw the splendid pledl condition of the mists mine an and d tu its It prospects will for the future but UM the U hokel wl the report to get haw have ha e to t wait walt for e etl tl new br of c directors wm will lie likely organize tolay t 1 |