| Show CON MERCUR ANNUAL AN UAL REPORT Last Year Was a Profit Profitable Profitable able and Resourceful Reso One The Te annual report lenort of the the Consoli Consolidated Consol dated date Mercur company for tor the fiscal year ending June 30 made its Is appear appearance ance anco ace in the compana offices yester yesterday yeter yesterday day afternoon having just been re received received calved from the printers Conies Coles of it will wi be mailed to the more than 2000 20 shareholders during the next net few days das and that it wilt will wi be favorably I received Is hJ indicated by b its It contents The financial statement which w Is pre nrc presented presented seated in the usual detailed form shows that the assets at the close of ot the year amounted to while w le the liabilities los were practically nil ni being ac accounted accounted counted counte for in bills payable S amounting to S The Te fiscal year ear ending June 20 30 closed on a a deficit of t the o op operating orating expenses exceeding the receipts by that amount The present report shows net earnings of In presenting pros the report President John Dem Der D rn sums up the result of ot the years als lucid operations paragraph in this neat and The vital lal points of any n mining prop proposition are first frt the value of o the theore ore second the time extraction of those values arid and ad third the expenses cX nes On each of or these features we w show improvement over last years ears figures The Te value of ot the ore has hag gone up S cents the amount lost in the tho tailings has gone down 5 cents and the expenses have gone down 25 2 cents Thus the years results show a a total improvement of 36 26 cents per ton over the preceding twelve twelvemonths twelvemonths twelvemonths months The Tho report of General ManageD George H Dem Dern Der contains contains much that will willbe wi willbe be of or interest to the te stockholders stockholder con concerning mine conditions mill mi operations and the time reduction of expenses In sum summing summing summing ming up he lie le makes the following state statement statement statement ment concerning ore reserves that is fully tuny justified by his description of tIme tha thamine thomine mine workings and accounts of ot the opening of new ore bodies in virgin territory I 1 wish it were possible to make a close estimate of ot the tonnage of ore in insight insight insight sight in the mines but It must be bo ap apparent apparent apparent parent to any anyone one reading what I have hac said about the workings in caved ground gound that this Is out of ot the question Queston The best bet I could hope hODe to do would be beto beto beto to make a guess gess I said last year that I thought the ore then developed ought to admit adit of at profitable operations for tor at least two or three years rear and that there was no reason to doubt that during such a period many new developments would be made The years results have shown that that estimate was certain certainly ly conservative I feel just as confident conf dent today that we have at least twice as much ore in sight as we had a arear year ago The announcement is also made by br President Dern Darn that beginning with wih December the th d date te of paying paying the divi dividends dividends will wl probably be changed chanced chan ed from the of the time month to some day da be between bei tween the Oth and The Te change II is being bing made because tIme the making of payment wet so early earlY in the month as an a at I present p crowds too much work on the clerks cerks In the offices of ot the company at ata ata ata a time when all al monthly accounts pay payrolls payrolls rolls roUs etc are being made up |
