Show THE SWANSEA REPORT anold an old and experienced miner mine 6 once ere remarked that he would much rather devote his time and energies to the exploration of an old producing but abandoned mine rather than to open up a prospect howe however ver meritorious it might be in reviewing the history of mining affairs in utah forthe for the past few years year the fact is I revealed 0 that there are others also who ho have entertained the same idea and results have demonstrated the correctness of the theory in one instance at least the resurrection of an ancient and abandoned mine has been attended with gratifying success the he property in question the swansea mine is well known to every mining man in utah and the swansea is a familiar name and a favorite with almost every dealer in mining securities the swansea was among the early producers of district when surface scratching was the order of the day a halt jn in operations being called when the workings of the property reached the iron belt which serves as a capping for the immense zones of rich mineral with which that section is with the reorganization of the company but a few years ago deep sinking n was inaugurated and it was not long before the association began begaii the payment of regular monthly dividends which have been maintained with but slight interruption ever since and now no better little mine is known of in this thiis western country A few days ao ago o the organization held its annual stockholders meeting at which george P holman was reelected elected re to the presidency and theron geddes was retained as vice president treasurer and general manager managed S 0 snyder being re appointed as treasurer in the annual report made by the company it was stated that the net nat earnings for the year had amo amounted tinted to the handsome sum of fro from a which had been paid out in dividends leaving a surplus in the treasury of in the report it was further shown that during the year the company had expended for operating expenses and that from the sale of ores 75 was derived from 10 tons of ore as increase of tons for the year or per cent from this tonnage there was obtained ounces of silver and 1587 7 Impounds pounds of lead the average amount received from the smelters shelters sm elters was 1445 per ton while the expenses of production cost of treatment e etc tc reached per ton with a net profit of per ton the output for the year was derived almost entirely from above the and foot levels the ores upon the former are nearly worked corked out while a most gratifying reserve is exposed on the latter no was done above the foot level but the management is convinced that fine reserves await them there considerable development was done during the period covered by the report the shaft having been put feet deeper in additon to a large amount of exploratory the various levels A aae hew w horse power holster bolster has been ordered for the property as well as pumps and with this equipment the operation of the miep min will be upon a scale more energetic than ever before |