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Show RAY HERCULES MAKES REPORT ON PROGRESS Period From Commencement of Work to October 31 Is Covered by Statement State-ment of Copper Company. The Ray Hercules Copper company issues is-sues a report covering the period trom starting of construction and development develop-ment work to October 31, 1917, says tlie Boston News Bureau. Notwithstanding- unusual conditions prevailing- in the material and labor markets, the work in every department has' progressed according to Achedule and m some respects has exceeded the schedule. It is expected that the property prop-erty will be producing copper in the early part of 1918. Ore reserves amounting to 9,500,000 tons of an average assay value of 1.77 per cent copper are greatly in excess of the estimate when the "original report re-port was made, which, was o;42S,774 tons of 2.36 per cent copper. When development and construction operations were started the company planned to mine aud miJl 100 tons of ore per dav. Present mining- and coarse crusting departments will have capacity of 300 tons per hour and the mill is designed to handle 1500 tons per day. The financial statement as of June 30, 1917, shows cash on hand of $544,-(i7S. $544,-(i7S. Advances to the Arizona Hercules Copper company, the operating concern, have been $iM.lb Expenditures to date for development, construction and equipment have heen $.305, 04 6, |