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Show 111 REPORT OF IVM HILLS GO. Operations During the Year and Financial Condition Fully Set Forth. Spocial to Tho Tribune. RENO, Nov., May 6. Following is a summary of tho report of the Nevada Hills Mining company: Assets-Property. $5,248,807.90: eoulp-menls. eoulp-menls. 5116,141.16, treasury stock, $941,-775; $941,-775; accounta receivable (advance payments pay-ments for supplies and ectulpmcnU, 5so.-282.97; 5so.-282.97; supplies on hand. $30,338,35; profit and loss, $2S,208.59; total. S6.42p.oo3.97. Liabilities Capital stock, $6,2o0.000; bills payable, $145,000; due bank on open nccount, $22,139.17; miscellaneous liabilities, liabili-ties, $14.50, accounts payable. $3400. Within the year the property produced 613 tons of ore of average value of $U3.S6 per ton, or a total of $82,054.37, gross. Freltcht, smelter charscs and smeltor losses 'amounting; to $25.21 per ton, or a total of $15,454.94, left the net amount realized from tho year's production $66,-599.43, $66,-599.43, or an averaso of $108.65 per ton. In addition it is estimated that. 1500 tons wero put on dump of an average value of $50 per ton. No attempt at production was made durinsr tho year, only small shipments being made from development work. The company commenced the fiscal year with a cash balance of 512,806.55 and closed tho year owing the bank $167,139,47. At the close of the fiscal year there had been a total of U.1S4 foot of work performed (slopes not included), as follows: fol-lows: Nevada Hills shaft, 417 feet; adits, drifts and crosscuts, 9276 feet; raises and winzes, 1161 feet. We have added tliereto auring tne present fiscal year, 3218 feet of work, distributed dis-tributed as follows: Nevada Hills vein system Nevada Hills shaft, 108; drifts and crosscuts. 23S5; raises and winzes, 555; Webber shaft. 200. In addition the following work was done by leasers; Shaft. 65 feet; drifts, 200 feet (sloping not Included). Total amount of work on Wingfield vein to date. Shafts, 330 feet; drifts, 200 fcot. Negotiations entered into during the year with George Wingfield, who controlled con-trolled the Falrvlew Eagle Mining company, com-pany, which owned adjoining property to the north, covering the Wingfield and Eagle veins, resulted in the measuring up of ore In sight which showed about 7500 tons of the average value of 520 in Fairvlow Eagle, or a total of $150,000. and the purchase of Falrvlew Eagle Mining company shares by the Nevada Hills Mining company on that basis, or one share of Nevada Hills stock for six shares of Fairvlow Eagle, thus making possible to treat both bodies of ore more economically, under one management. Total amount of work on Eagle vein to date, east of "Big fault": Eagle shart, 300 feet; drifts and crosscuts, 1S90 feel; raises and winzes, 300 feet; west of "Big fault" there has been much work done by shallow shafts and open cuts. |