Show REPORT OF BOSS COMPANY lane C gilliam of goodsprings Good springs nevada has submitted the following semiannual semi annual report covering the operations of his company from jan 1 1919 to july 1 the writer took charge of the property of the company on january 15 1919 succeeding H K in the management who passed away last november from an attack of influenza but in this letter will treat of the operations of the company since the first of the year on january 1st ast the company had on deposit in the first state bank of las vegas we have received for two cars of copper lots 46 7 as preliminary settlement at per pound shipped prior to january 1 making a total of cash on hand january the company also had U S 4 per cent liberty bonds total cash resources january of since then we have shipped two cars of platinum palladium ore to irvington N J from which we received net smelter returns of we have received as additional settlement on lots 46 7 above the preliminary price of per pound for copper we have received interest on liberty bonds total receipts since january total deposit in bank july 1 1919 U S liberty bonds I 1 total cash resources july 1 2109 5 we have one car of copper ore at jeans jean on which all mining expenses have bee been paid and the truck freight on fifty tons paid it will be a little over fifty fafty tons but have made a provisional settlement on that aba tonnage balance to be paid when we get ge smelter returns we have mined and had hauled to jean which about thirty tons of platinum ore on all mining expenses have been paid we have done feet of crosscutting crosscutting cross cutting of 0 feet forty feet of upraises up raises twenty five prospecting and fifty feet of drift drifting ino ida wor work ing a total of feet of underground we located an additional lenzo lenze of P tb r num ore from which we mined the tons of ore now at jean but have been greatly retarded in the work of getting it out by having to timber under waste with to get at the ore which has been very slow and tedious work we are still prosecuting this work with ore showing ahead we are still working on the no 4 C C in hopes to find a change in formation and an ore body caused from the teachings leach ings from the large body of iron gossan in the no 3 level we are also doing crosscutting in the no 2 level which prospects the ground under the new lenze of platinum ore in hopes of finding additional benzes of the same kind of ore owing to the desire of the management to continue development work and in view of the favorable outlook resulting from the work done during the last ninety days it seems advisable to them to hold the funds now on deposit in the bank to use in that direction rather than to consider paying a dividend to the stockholders at this time firmly believing that in taking this position it is to their best interests we have paid mr A H black on patent account and owe a like amount when patent issues |