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Show BOSTON CON. REPOBT. President Newhouso Gives Latest Facts About Great Company. The annual report of the Boston Consolidated Con-solidated Mining company, covering tho fiscal year ending September 30, has been issued in pamphlet form and shows that during the period stated $4S2,307 was received from oro sales; $1097 from rentals: making a total of 4S3,40-l. Tho expenses amounted to $227,005, leaving a profit of $250,309. The balance sheet at the close of-business of-business on September 30, shows: Assets Property account, $1,000,000; development, .S27".20S; office furniture. $4 05; Newhouso Can. Cont... $00,000; tools and supplies, $41.S4l; bills receivable, receiv-able, $S5,27'1, insurance unexpired, $2-151; cash, $2(59,735; loan expenses, $GS,779. Total, $2,355.(593. Liabilities Capital stock. $1,000,000; due English company, $717,1(55; overdraft, over-draft, $71,705; bills payable, $1152; surplus. $555,712. Total, $2,355,093. Tn his statement President Samuel Newhouso says: "During the last year wc have completed our contract with the Bingham Consolidated Smelting company, delivering to ihem in that period G2.GS9 tons of ore, for which wc received $436,054. "A contract has been made with the Telluride Power company covering a term of five years, during which time wo arc to be supplied with 2500 horsepower horse-power at a price below the cost of manufacturing power by steam. This contract also effects tho saving to us of an investment in a steam power plant which would amount to more than $250,000. "The Garfield Water company was formed by the Garfield Smelting compnny, com-pnny, the Utah Copper company and your company (each own one-third of tho capital stock) for the purpose of acquiring ownership of various springs in the vicinity of Garfield, and developing develop-ing nnd delivering the water therefrom there-from to the milling and smelting plnnts of theso companies. "The American Smelting and "Refining "Refin-ing company owns three-fifths, the Utah Copper compan- one-fifth and your company com-pany one-fifth of the capital stock of the Garfield Townsite company, which was organized for the purpose of constructing con-structing and developing a model town for housing employees. The company has now constructed S2 dwellings and (5 hotels, the latter having a capacity for 500 men. Some of the hotels and a few of the dwellings are already in use. All will bo in readiness to serve our permanent employees with the completion comple-tion of the mill." Our portion of this expense to September 30 was $54,5S7. "The volume of the work under way at both the mine and the mill, embracing em-bracing man' details, has had careful thought and attontion from the men in charge, and has been advanced with all possible speed. A great scarcity of labor, la-bor, both skilled and unskilled, has seriously se-riously handicapped our progress, and will serve to delay final completion beyond be-yond the time named in my last year's "report. Slow deliveries of machinery and' steel also affect our progress." |
