Show 0 UNION CHIEF MINE REPORT the report of the union chief mining company for the year closed december 31 has just been mailed to stockholders concerning the results of development work G L bemis president and general manager makes the following statement during the past year in excess of tons of ore was taken out and is now at the mine ready for shipment the average content of this ore being approximately twenty ounces of silver and 25 per cent lead this ore was taken out in doing development work and would have been shipped had teams been available but in view of the recent decline in the price of lead your directors consider it advisable to hold this ore until higher prices prevail while we have not been successful in opening up any permanent ore body there is every indication that an ore body is in proximity to the present workings but just how soon this will be reached is uncertain we contemplate continuing development by borrowing money for the next three or four months in the meantime we hope that metal prices will warrant our shipping the ore now ready and the prospects are favorable for getting additional ore therefore no further assessment is contemplated for the present during the year a total of feet of drifting was done and ninety two feet of raising at a per foot cost of 1003 states the report expenditures of during the year which includes operating expenses and the discharge of indebtedness on january 1 left a total unpaid indebtedness of on december 31 |