Show STATEMENT OF OHIO COPPER william 0 allison president of the ohio copper company operating at bingham and lark utah has issued a statement to stockholders rs which follows to the stockholders of the ohio copper mining company by order of the board of directors I 1 am submitting for your consideration balance sheet of your company as of date may 31 1913 your annual stockholders meeting ac cording to the bylaws by laws of the company should take place on the first wednesday in june this was adjourned from week to week because of the fact that your president desires particulars to get the operation cooperation co upon the board of the company of certain gentlemen who would represent substantial interests in the stock of the company and finally upon june 25 john W mckinnon of new york city walter L I 1 badger of boston mass and walter C lewis of salt lake city utah consented to act upon the board and at the following election maurice levy was reelected elected re le a member of the board so that the board now consists of these gentlemen and W 0 allison J F pierson jr and F augustus heinze at the organization meeting of the board subsequently held W 0 allison was reelected president john IV mckinnon was elected vice president maurice levy was reelected treasurer and frederick eckstein was elected secretary the construction of the third section of 0 the mill has been completed and the dr dry tonnage now handled monthly is between betwee and tons with a total cos costa for mining milling and transportation oabe of between so 80 cents and 85 cents cens per ton the copper contents of the ore has average 1015 5 per cent for the first five months of this year the earnings for this period are not satis sati factory this condition arises partly by re rea son of the expense incurred in rebuilding rebuild in ini the dam etc referred to in our circular 0 may 20 and partly by reason of the smal percentage of copper recovered from the or ore the proposition therefore confront confronting inc 1 r yo you J management t is to find a method of extract extrac of the copper W wi ing a larger percentage this object in view your directors have e enec aloyed maxell W atwater a mining en neer with much experience in the oil flo tion method of concentration and we cc c dently fi expect that this method will sill sa ly increase our percentage of recovery it will be the policy of your board to keep shareholders advised of the progress of developments very respectfully yours WILLIAM 0 ALLISON president |