Show THE SWANSEA REPORT Hecord of the Year Gratifying to the Stockholders The Swansea Mining company dur ing the past year marketed ores ofa gross value of 20804625 distributed dividends amounting to 70000 paid out SS2iGfi for operating expenses and closed Its anniversary vith a surplus sur-plus over all liabilities Including the divlded which was passed around on June 10th of 7Sjo mr ° Srii ylng disclosures were rnade at the annual meeting of share folders P yesterday and at whIch time enrg Ltolman wa rCe1ectcj presi Thoron Geddea icepresfdnt O masurer and general manager and S Snyder secretary these oflicerq wih William Hatneld and John 3 JudFon to serve as directors The report submitted by Treasurer Geddea vas a most exhaustive and a most Interesting one throughout The total earnings ot the company for the year which attained a total ° C mosS o lolS ltM < was net During the XT period the manpnionLUrrn1Sktent Sn market ed i22 Jfni tons of ore that yielded ni 100 OUflreS silver anti 19S5CS0 pounis of lead the ore showing an 40 ounces nilver with 832 per cent lead 3r ton a against an aVerage of i204 ounces l1er and 7 cent lead the Previous year The Increase iii the avn1ngs over the previous twelve months amounted to Pr cent while th the or 35 OxPeliditures there was an Increase of 12sjO flo7 per cent Th ne CL increase aveordigI3 was rQiIuced to 305594O per or 40 cent ovei the previous yeai Th aniount paid the iiUcLIllg t1i working company after dc nrncltcr and charges at the freigJ va 17i2 t OlflizLred per ton vfthi 1445 clitring th Previow year lion wliio the cost of extrac as per ton 1 ith last as Compared tli east of extraction year Tills inereasp In tgei 3eddcs in expialncd Man his report to the largo amount of Is attribijt Work that was prosee the In Creased epc11e of tCr and t thc Zurtlier Controlling uie va work has hccIl do fact that tILe Tile net receipts at grea deptl per ton iiOvever ere as thi compared Ith previou9 Ycat The for Liither repo 8ho d that during the osx feet tho 550foot level work was iJoilehelw vth the disclosure of ore WtweVn i Principal fc Ofcot lesels The vee tht750 and v vein strong and well dflned whleit l8 i tt bcn pezied up by a inze o ILOS flov 1Wfl Mink 30 feet In hitch lms a lmsC heavy ttr ltiow the S0j l1o of iCvi th dUtIUt fot the year Willie flrc h om 4tupc M above tlr ci Ir Jtli aiid PIng cie still tciijing in th lattci I also bIMkCl out Liberal ie8QrVCi niv J the 7foot level while In Ui I above boil UPB tin leaders jciiiy wlnr08 the tie for ho market During year mine was tlioioaRhly oquJPiind with machlMTx Smlurtlns I engine bnllei and HUMP aifl tho new year begin The Smlir most favorable conditions management Is to be congratulated the succors It has achieved and upon the present physical condition of the property which Insures dividends for an indefinite period |