Show THE NEVADA DOUGLAS holds annual meeting and reports on conditions are submitted the nevada douglas copper company operating near yerington nevada held its annual meeting in salt lake on the and elected a board of directors to serve for the ensuing year as follows A J orem president james G berryhill and L H curtis vice presidents W V rice treasurer W C orem general manager frank M orem secretary duncan macvichie J J coram joseph T herrick and william P lyman A synopsis of reports submitted according to the daily tribune show that on the douglas group there is a large area of copper bearing ground where tons of 3 per cent copper ore are developed each foot of depth at this part of the property will add tons of ore to the total developed or should the deposit extend for fifty feet for instance it means tons of ore from this particular part of the property 1192 tons of ore averaging 1349 per cent copper 01 ounce gold 67 ounce silver 2028 per cent iron and 2272 per cen silica have bave been shipped on the copper basin section the ore deposit is demonstrated for a width of from thirty to fifty feet being opened at intervals along the trend for 1000 feet by which at least tons of 45 per cent copper ore are now developed ludwig ore tonnage the ludwig section where the major portion of the work has been centered there are now developed tons of ore the average copper content of which is 54 per cent to the south of the previously explored zone recent disclosures have brought to view new ore for feet along the trend and for a depth of feet the average thickness being two feet and the average value per cent copper probable ore in the ludwig as shown by the work on the foot level will reach a total of tons averaging per cent cop yer but the new work on and above the 50 level to the south of the shaft is extending the ores known to exist to such an extent that doubtless equal satisfactory results will be achieved on and below the level total resources in summing up the resources manager mana er orem gives the positive tonnage at tons averaging 54 per cent which on a 13 cent copper market is worth partially developed ore tons valued at estimated value of the gypsum deposit the one half interest in the nevada copper belt giving a grand total of only a portion of the mine is now developed the nevada copper belt road has a contract with the mason valley mines com pany to haul tons of ore per month and tons of limestone per month which with the agricultural and other business will net the company per annum the nevada douglas company has contracted tons of its own ores to the mason valley smelter to be delivered at the rate of tons per month the nevada douglas property is now being placed in position to output its tonnage and the company is not over three months from production the financial statement follows debts treasury stock bonds in treasury expense mine operations property loss and gaine sundry total credit capital stock accounts payable bills payable indorsement endorsement Indor and guarantee ludwig copper co accounts receivable total |