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Show if DM Alii I SHOWSGOODRESULTS Management Sncceeds in Mak-ing Mak-ing Mine After Many Trou-bles Trou-bles and Assessments. I FINE SHOWING ON THE FOURTH LEVEL Hj Manager Dormer Reports Mine H in Condition Not Equaled H for Years. At tho annual stockholders' meeting Monday of tho May Day Mining company a moat satisfactory condition of affairs wan disclosed. Bo satisfactorily. In fact, had tho management conducted the af-Hj af-Hj fairs ojC tho company to success through many hard trlala of tho past year, during which numerous assoBBmcnts had to be levied In order to proceed with tho work, that tho sains directors were re-elected without a contest of any character. Development "Work Done. General Manager J. E. Darmer sub-mltted sub-mltted a short report of the work dono during tho year, showing that during this Umc fully 3000 feot of development had been accomplished with meet gratifying results, as ore has been disclosed on both tho 300 and 400 foot levels. Manager Dar-mcr's Dar-mcr's report reads as follows. Ore Was Not Ponnanent. "In this report 1 wish to cull your at-tentlon at-tentlon to the condition of your com-panVe com-panVe afraliB during the curront year, as well as at the present time. Last April we had a chute of ore on the 200-foot 200-foot level and upward which gae some promise of being permanent, but as the shipments progressed It proved to be a small one. It was your manager's hope that this chute would produce sulliclent money to replace machinery which had been worn out and sink the shaft to deeper levels, that we might explore nw j territory further down the hill and nearer the contact of the lime and por-phyry, por-phyry, but by June we found tho ore body exhausted and very little funds on hand and with hut llttlo prospect of tho levels already opened up producing fur-tlier fur-tlier shipping ore. Had to Levy Assessments. "It was at this time and under theso disheartening conditions that your board of directors, after weeks of deliberation, decided that the only course to pursue was to levy sufllclcnt assessments upon your stock to sink the shaft and prospeot the levels created. Work on Different Levels. "We have during the current year, be-sides be-sides timbering much of the work dono and excavating the ore shipped, done in the shaft and drifts about 3000 Xcet of linear work on the 203, 300, -ICO and 500-foot 500-foot lovels with tho result that today wc have a good showing of oro on tho 300-toot 300-toot level, going both up and down; bo-sides bo-sides the snowing of lead-silver ores wo have a good showing of zlnc-ellvcr ores also going up and down. Showing- on 400 Level. "Also wo have on tho 4G0-fool level an encouraging showing of zinc ores which if It, by development, continues the samo grade of ore that It has, may bo handled -, by the future management with a profit to tho company. We also have In several upraises from the 400-foot level some good lead and silver ores which give promises of making into a permanent body, tho extreme ends of these upraises being about 120 feet apart with ores ox-tending ox-tending from one to the other and still going on in both directions. J "In closing I will say that I believe that J the physical condition of your propertv J Is more promising for the ensuing year than for many years past." Some Board He-Elected. Tho secretary's report showed that the H total receipts for the year amounted to V J5S.04G.34. and disbursements to tS5.376.76, J leaving a surplus in the treasury of H $2S9.5S, which promises to bo greatly H augmented by the shipments that the company is now making. Tho directors elected Mondav are: John Campbell, Henry Cohen, G. L. Corner, J. M. Hlgley und J. E. Darmer. |