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Show LIKE mm HAS ISS1H REPORT Financial Status of Husky Voungster Given in a Stale-men! Stale-men! Friday. A report ir the Lake Copper company's operations ror the period from May 31. IU00. to April 30. 10)0. was rendered Friday Fri-day In Boston, extracts of which were received over tho Pollock wires. The total receipts for the period mentioned amouutedrto $301.b"72; the payroll account was $113,j18, and miscellaneous disbursements disburse-ments amounted to $5H0. On April 30. 1010, tho company had $18-1,10;: In the treasury. Although the Lake company is a shipper ship-per of ore, tin- receipts do nol represent the returns from shipments exclusively, for some treasury stock was sold during dur-ing the year prior lo llui shipping date. I lie present production is approximately 3500 Ions of ore a month, and tho company com-pany Is now Installing an immense hoisting hoist-ing equipment which will handle a production pro-duction of 2000 tons daily, which rate of output Is thought to be duo Jn tho very ncur future. About four years ago the Lako property prop-erty was discovered In a now part of mliipr.ilir.cd Michigan, following which en mo a series of finds of such merit that this new section of the lake country has overshadowed everything else of like character there. The Lake property has been sounded 10 tho seventh level, and the ores drifted on so far at least $00 feet to the south and 700 foot north of the shaft. Ore has been opened on all levels, nnd the management is utilizing olovon diamond drills In dcveloplpg the mlno. The ore Is concentrated at the custom plants of that vicinity. Tho Lake companv Is capitalized for :$2,500.-000. :$2,500.-000. or 100.000 shares, par value S25. of which S0.0OO shares aro outstanding and on which 53 per share Is paid in. The property consists of 710 acres. |