Show BARNES KING development CO the barnes king development company of butte montana in its report for the second quarter of 1919 gives operating results as follows north macassin Mo cassin property shannon property kendall property 11 and miscellaneous income total deduct loss on piegan gloster operations silver bullion option development mount pleasant option development and other expense total balance being net profit on operations for the quarter the above figures gares include provision for depreciation on the various plants summary of receipts the summary of receipts and disbursements for the quarter shows a balance on hand march 31 the end of the previous quarter to have been the receipts for the quarter were as follows north moccasin bullion piegan blegan gloster bullion shannon bullion kendall power plant earnings kendall property royalties interest received total grand total disbursements the disbursements during the same period were as follows north moccasin property piegan gloster shannon property kendall property silver bullion option 2 mount pleasant option auditing state corporation tax investigations of new properties 63 dividend investments in other companies increase in accounts receivable cei vable and decrease in accounts payable deducting for decrease in inventories ven tories and unclaimed wages leaves the balance on hand at end of quarter was from which must be taken for payroll and accounts payable leaving balance available in addition the company owns 50 in liberty bonds operation of properties operations of the different properties were as follows north moccasin production from tons or per ton development work feet piegan gloster production from tons or per ton development work feet shannon production from tons or 1174 per ton development work feet mount pleasant in may the option on this claim was given up exploration work to the extent of more than 1000 feet having found nothing to justify further operations silver bullion during the month of july the contract for sinking the shaft feet deeper was completed making a total depth of feet but nothing is known yet about the vein at this depth the reason given for reducing the dividend from 10 to 5 cents is that the da company means to pursue a conservative policy and retain at least in the treasury for possible 6 use in developing and equipping new properties the estimates of production for the three properties for july are appended to the report they sh show ow the north moccasin produced 2074 tons of ore of an average assay value of estimated bullion shipped the piegan gloster shipped 1031 tons assay value and the shannon tons assaying 1322 the combined bullion yield from the two properties for the month is estimated as total bullion produced in july |