Show EARL EAGLE OUTLOOK manager george E hemphill of the earl eagle mining company with holdings in the american fork district utah has addressed the following letter to stockholders conservation of paper prohibits the issuance of regular reports the management of the earl eagle mining company feels however that you are entitled to 0 know that while the property is still in a state of development there is every reason to believe that within a short time earl eagle will rank as a producer development work is being carried on in an economical manner and will be continued conditions in american fork canyon are such in winter that operations all are considerably sider ably hampered but with the opening of spring development work will be pushed as rapidly as possible the books of the company have been audited and show that the company is free from indebtedness and a cash balance on hand sufficient to carry on the development work for a period of at least several months while ane earl eagle mine is still in its prospective stage the management is confident that its objective point will soon be reached new machinery and equipment have been purchased and installed during the past year as well as company buildings being put up there is also a quantity of mine supplies on hand at the mine fully paid for high cost of all supplies as well as labor at the present time naturally have increased our cost of development the management however is conservative and has great confidence in the earl eagle and hopes that at a very early date can announce to ane stockholders that earl eagle is on a producing basis |