Show I 1 ROCHESTER MINES FIGURES I 1 president L A friedman of the rochester ter mines company with holdings at rochester nevada has sent the following letter ito to stockholders since issuing our last report our com pany has made great strides in paying off its indebtedness and creating a surplus for dividend purposes immense ore bodies have been opened up p in the lower levels which have added a large tonnage to our great ore reserves the development north on the ath ath and levels is still progressing in a rich and large pre ore body the ore bodies between the ath and levels are more than thirty feet wide in many places A is now being sunk from the level which is down thirty feet and is in good ore and will be continued to the 1100 foot point where we will open up another level the net profits for the last quarter of 1917 were from this report you will mil notice the net profits for the first quarter of 1918 were which is an increase over the last quarter of this increase is due in part to the larger and richer deposits which have been opened up at the lower levels and partially due to the increased price of silver when closing our books at march 31 1918 we had two bullion shipments in transit valued at figuring silver at 92 cents per ounce since closing our books we have sold one lot for which we received 95 cents per ounce we have just been offered 99 cents per ounce for the last lot but are holding same for 1 should we receive 1 per ounce for this lot our march bullion sales will amount to instead of the figures used in compiling this report the amount of net profit for the first quarter of 1918 is equivalent to 1112 per cent on the par value of the entire issued band and outstanding stock or 31 per cent on the present selling price of 35 cents per share the he net profit for march is equivalent to 44 per iper cent on the present selling price of the stock and from present indications the april production as well as our future production due tion should be equally as good if not better I 1 A special stockholders meeting mill be held on monday may for the purpose bof of electing directors and officers for the ensuing year and at which meeting the management will recommend the payment of the first dividend on or about july ast 1st and regularly barly thereafter |