Show SILVER KING CON ANNUAL at the recent annual meeting of stoc stock holders of the silver king con consolidated ao dated min kinf ing company held in salt lake the stoc stocky represented amounted to shares 0 outa ut of a total of shares issued officer office r S and directors were elected ai 13 follows follow s jy president a and n d general manager t solon spiro vice president it P morris crearer trea brer er D DI with shearman fargo herman ei harms harry A lee and william el additional directors G W browning was as hi reelected elected re secretary in his report president spiro said ou ur he C fiscal year ending december 31 1917 surer passed all previous years in gross earnings earning 8 dmd and dividend payments witnessed the ad justi nent of our mill to its normal capacity band ad proved the great utility of the new tramway way yet the atie outstanding feature of chis period in the opinion of the management ent is the progress rss f made toward the de elopement elop ment of the ore zone in our westerly domain despite the elimination of one month fron from the fiscal year an increase was shown jn in nearly all items of production tonnage of ore and concentrates ifor for the eleven months was tons against for the preceding twelve months the silver output was against ounces the lead output was against pounds gold against ounces and copper against pounds vs net smelter returns for the eleven I 1 months amounted to compared with hi for the year before dividends paid aggregated against in 1916 the gross earnings per share were 92 cents but the net profit was naturally reduced by pi the great advances in the cost of supplies L scarcity of efficient labor car shortages and smelter embargoes these drawbacks were v common in all mines and all industries and y were a part of the price that all should pay cheerfully for the future freedom and hap of the world I 1 the milling plant recovered fro from m second class ore concentrates avera averaging ging a ton the spiro tunnel reached a distance of feet from its portal the last 2300 feet being in the woodside shale on leaving the shale the tunnel will swill ent enter er the favorable ore bearing formation mr spiro mentioned the purchase of the california comstock property tor for the property included acres a foot shaft a ton milling plant and other surface equipment it had a record of production of many thousands of tons from near the surface A dike in the comstock is the nearest erupi eruptive ive formation to the developed ore body in the king consolidated and is regarded as the provable pro pable center and source of that enrichment the report of the secretary and treasurer for the eleven months was as follows receipts balance on hand february 1 1917 ore sales interest and discount bills payable miscellaneous total 47 disbursements expense accounts development and mining tramway operation and repairs tunnel development mill operation and repairs 88 supervision ore sampling 00 titles and patents 65 boarding house surface improvements property purchase dividends and extras cash I 1 cash assets and inventory total ore in transit december 31 8 dry tons |