Show CHIEF consolidated EARNINGS necessitate PASSING OF DIVIDEND r the second quarterly luar terly report pa for 1925 recently mailed to shareholders i by the chief consolidated mining company explains that the net value of the mines product during during the quarter was 3 a ton lower than in the previous quarter due to that fact and the contributing causes which brought it about including the losses incidental to the changes and adjustments being made in the operation of the new mill which now have practically all been worked out it was de aided to pass the usual quarterly dividend however metal values according to president walter fitch fitcha s statement to the stockholders have shown pronounce if this improvement continues dividends can be resumed in november results of mine development have been encouraging according to general manager cecil fitcha report which is in part as follows at no 1 shaft in no 1 channel the ore is now showing improvement in the deepest workings both as to size and quality A drift on the 2200 foot level headed for no 3 shaft workings digs encountered a small streak of ore thiddis this discovery is deemed quite important in that it strongly 6 indicates the presence of a hitherto unknown channel it being a considerable distance from other known known deposits the results at no 5 shaft during the quarter have exceeded any previous quarter since this mine was purchased by your company the ore body mentioned in my last report extending up from the 2300 foot level to the 2000 foot level is apparently developing to large dimensions and gool good grade the production at the has been somewhat disappointing appointing b but at this w writing the ore is showing some improvement development work at the apex standard sta edard has been increased and the prospects there are very encouraging the attending 2 mechanical difficulties which have been confined to the volatilization end of the mill are now being rapidly overcome and the greater part of this adjustment is now eliminated and only the details affection affect affecting in t the standardization expense of methods for metallurgical nieta ilter t ical recoveries recoveries remain the results in this section to be completed recovery of the mill are satisfactory total shipments of the company amounted to after smelting smelling sm elting transportation yielding of ore dry tons tolls y 19 metal charges bares bar es c operating and all other 6 sampling gani pling of f gold amounted to ounces 0 the of ore contents pounds of lead in lead ores and ounces of silver of copper in in copper ores pounds Z the ton values were 1245 of an ounce of gold to assay 1232 cent lead and 19 per cent ceil t of silver per ounces 2592 smelting smelling sm elting value per ton was r average gross copper conner net 1209 a ton average charges freight and sampling value 1383 a ton listed the balance sheet of on assets of the camf company any as mine anine T 30 1925 are as follows follo ws property mis june tine J current curren tass as sets investments cash total tota cellan first mortgage capital C stock liabilities abilities i surplus and aa stock premium pr elium i bonds 11 reserve aties fas fass 49 current s accounts profits total |