Show ONTARIO SILVER ISSUES ANNUAL REPORT the ontario silver mining company recently mailed to stockholders a full and comprehensive report for the year 1921 developments in new ground on the east end of the property and which promises to make a new mine of the famous old silver bonanza are fully described by general manager ernest bamberger and superintendent newton A dunyon an outline of the work in hand for the present year also is given together with a complete financial statement while developments on the east side are much far farther ther advanced than indicated in the report manager bam bergers statement on this subject as follows will be of interest development work on the 1300 foot level east cast of the ontario fault has encountered an excellent grade of ship ping ore not enough work has been done as yet to determine its extent but energetic development of the ore shoot is now being carried on on the foot level foot level 1000 foot level 1200 foot level and 1500 foot level it will be some time however before these other levels will reach their objectives but the outlook at present is most encouraging during the current year it is the intention to push development work on the 1000 1100 1200 and 1300 foot levels east of the north south fault zones work will also be done at the 1300 foot point in the 1500 foot level drain tunnel the 1300 foot point according to mr dun estimate is about 1400 feet east and feet lower than the present face of the 1300 foot level during the year a total of feet of drifting feet of raising and feet of cleaning and re fe timbering of all drifts has been done it is stated in the report Fir financial ancial statement je apts of nf the th ontario silver mining company for the year ending december 31 1921 were of which was derived from ore sales from rents and royalties interest and dividends and miscellaneous disbursement for mine labor and salaries and supplies and electric power aggregated general tax and tunnel expense brought total disbursements to cash in bank bills receivable and stocks and bonds amounting to brought total cash assets in bank january 1 1922 to as compared with cash and bonds on hand on january 1 of the year preceding the difference between operating receipts of and operating expense of creates an apparent loss for the year of general manager Bam bergers report calls attention to the fact that the stocks and bonds li listed sted in the financial statement are carried above the present market value development work done on the 2000 foot level was a disappointment as values did not hold up to the grade shown in the bottom of the 1800 foot level |