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Show CHIEF CO! SHOWS URGER EARNINGS Net Earnings for Six Months of Year More Than $355,000. An increased tonnage, coupled with an improvement in the values or' the ores produced, resulted in the Chief Consolidated Consoli-dated Mining company, the property of which is located in the Tiutic district, earning a net profit of $355,701.8;) after the payment of all charges during the first six months of the present year. This information is contained in the semi-annual report that has been mailed to the stockholders. It covers the period from January 1 to June 30 of the present pres-ent year. Walter Fitch, president and general manager, in the report' for the directorate, director-ate, says: The large increase in the earnings for this semi-annual period is pa.rt- . y the result of the higher metal prices, but is accounted for principally princi-pally by the improved quality of the ore produced and the increased ton-nage( ton-nage( both conditions resulting from the increased development work done, which has led to the opening of a greater number of producing points than at any time heretofore.. This not only permits of a larger production, but also insures a more uniform daily tonnage and gives the management selective ability as to the quality of the ore which under un-der present conditions .of restricted shipments is proving to be of very great advantage. The operation of the Scotia mine will be discontinued on April 1, the option ending near that time. It has been decided that its location is at too great a distance from the management headquarters to be operated to advantage. During the first six months ofhe year there was 9091 feet of drifting done and 600H feet of raising done. The total shipment of ore was 42,144 tons, yielding net, after the payment of transportation, smelting and sampling charges, $742,057.65. The net profit amounted to $355,701.85. The caBh on ' hand July 1, after the payment of dividend divi-dend No. 7, amounting to $44,033.80, and dividend No. 8. amounting to $44,-148.15, $44,-148.15, was $381,589.46. |