OCR Text |
Show UNION CHIEF TREASURY LOW The report of tho Union Chief company. Which wes recently Issued, shows a decrease de-crease in the cash on hand. The report covers the period from Juno 1 to November Novem-ber S, during which tlmo 51S feet of development de-velopment work was done at a coat of J3S75.51, Including all expenses, or $7.S a foot; or 55.00 a foot on actual operating expenses. Total receipts for tho period wore J10.510.24; disbursement!. S53S2.14: leaving a cash balance of J537.10. TJic following statement of conditions at tho mine Is taken from the report: It will bo seen from this that tho company has no great amount of funds on hand with which to continue con-tinue development, but the condition of tho property Is such that tho management man-agement feels assured that the property prop-erty Is about to pass from the prospect stage to that of a producor. Tho condition of tho property Is such that Intorcsta here, after making an examination, have agreed to advunce whatever funds may be necessary to continue development work until aftor the first of the year, anticipating that beforo that time the propertv will b- I Folf-Eustaiulng. Tho present" development develop-ment consists In running tho main tunnel ahead and also a branch from j tho main tunnel to Intercept another vein. Ore Shipmonts. ! The Utah Ore Sampling company yes- I twrdny reported ore releases as follows: I On car from Idaho three cars from Ne-id-i and foui .-a..; from Utah mines. |