Show u DALY WEST STATEMENT 1 the daly west mining company has issued a statement to its stockholders from which the following excerpts are made in order that you may understand to what extent the fluctuation of the price of silver affects the earnings of the daly west mining company com nany we will state that our output of ore for the eleven months ending dec 1 1902 was as follows about gross tons of ore and concentrates cen containing about tons of lead tons of copper ounces of silver and 2611 ounces of gold making an average of about tons of ore and concentrates cen monthly averaging per cent lead ounces of silver 45 ounces of gold and 8 per cent copper per ton net or approximately ounces of silver per the output for Sem october and november shows an increase of about 1000 tons of ore per month with an average of about ounces of silver per month for these months notwithstanding the extraordinary expenses which were extremely large during darid the past year caused by litigation with the quincy company which has all been ali adjusted by tho the purchase of the quincy property and ancl by the deplorable acal accident which occurred in july last which i is now nearly all adjusted we have now in the treasury about and other valuable securities which are estimated to be worth in view of the above we your directors feel justified in saying that notwithstanding the serious decline in the price of silver the daly west mining company can pay handsome dividends to its stockholders toy for a 4 number of years yeam to come |