Show SEVEN TROUGHS EARNINGS general manager L A friedman of the seven troughs coalition mining company operating at seven troughs nevada in the opening statement of the annual report of the company has the following to say regarding the recent strike on the property on the ath of may a body of ore measuring thirty inches in width and assaying per ton was cut at the face of the 1600 north drift forty five feet from the main station after first running due north for thirty feet to allow for ample unloading and pumping facilities an acute turn to the west was waa made into the hanging wall where preliminary surveys had determined the position of the vein fifteen feet further advancement brought us squarely across this most remarkable ore body and as ten days subsequent development has shown no perceptible change we believe that we are again into an ore shoot of unusual size and richness the rake of this shoot will take it directly across our main at about sixty feet below the 1600 level and within the next two weeks which time will be required for preliminary preparations sinking will be resumed making due allowance for possible delays sixty days will see us into the heart of the ore with our principle working in the meantime extensive developments will be prosecuted contiguous to the 1600 level supplemental to president Fri friedmana edmans statement are some interesting figures in the report which aside from stockholders will be of moment to the general public for the year ending april 30 1916 the ore returns of the company amounted to which with rentals lights for seven troughs and royalties brought the total up to total direct operating costs and expenses amounted to leaving an excess of income over di 11 operating costs and expenses of the total administrative and general expense amounted to which left an operating profit of addi adding n g interest on notes receivable the net profit for the period amounted to although nothing is said in the report about dividends for the present year it is generally understood that the quarterly payments will be met regularly the report shows that dividends nos 3 4 5 6 and 7 paid between june 1 1915 and april 1 1916 amounted in all to with a surplus of cash on hand and a wonderful ore body opening in the mine conditions are very promising for coalition this year |