Show I ANNUAl REPORT Of DRAGON CON IS ISUE ISSUED Poyo Mardi March 9 The Tho Tho ln folo following Is the annual r report of or the thc Dragon Drgon Consolidated Mining company for 1913 now read ready for mailing to the stockholders Assistant Managers Manager's Report During tho the O fiscal cal year cal Just closed loRed no additional property w has usa been acquired an anthe and the tue only change In itt the mine equipment has been the tho Installation of at a a. small electrIc elec- elec Inc pump to handle the tho flow fow of ot water ater encountered encountered en en- countered on the tho SOO level A small smal tonnage of or Iron oro ore was shipped ped to the smelters up p to December 1913 but at that time shipments shipment were temporarily discontinued cd at the request of tho the smeltIng smelt smelt- in Ing ng company compan Thero Tero Is IB a H large tonnage of this class cS of ore blocked out out some new now ore of or this class clas being developed during the year and the tho mine is li in Ira shape to ship I h heavily when conditions are arn arf such luc that the te smelters can C handle handlo our output output Most of the quartz quart ore shipped d for tho period came camo from tho the north end of tho the property through the Iron B gom and Black Jack shafts and nd copper ore through the B Black d Jack At Atthe tho present time timo our shipments are ar limited du to the fact tat that tie tha ore is low grade and It Is deemed advisable to hold for mill mi treatment Development De during the y yar cir r has ha been ver very gratifying The Tho surface tunnel commencing com corn from a point pInt on a R level with the grade rAd of or the Eurek Hill Hi company com corn pan pany mentioned In th the last mutual annual re- re port ort ha has bc ben n extended alon along the Governor Governor Gov Gov- eror vein for or a a distance of 1700 feet feet de developing do- do p. p a large quantity of mill mi ore Th Tim Tho completion of If f this tunnel has haR also madIl made mad madet it Il t possible t to reduce duce tho the cost of mining th the he ore a above bove the te tunnel at lea least t Fe pr cent Connections were made with wih the tho old Black Back Dra Dragon on workings and a a considerable consid erable amount of or milling ore has has' been developed there thero Th The South drift mentioned In the thelast thelast last ast annual report has been beEn driven dlen feet south Routh and 00 feet east cast catt culin cutting the contact of or lime and porphyry and dc- dc a water Ilow fow of or about thirty five gallons lon per minute suitable for boiler boier and r culm culinary purposes This work croscut crosscut cross cross- cut thA porphyry and ond three treo small smal shoots of oC quartz earning carrying some somo gold old silver lead Iad and copper coppel values were crA encountered Although Al- Al though hough these thes stringers are aro small smal they they car carry values value to the amount of or about 30 per er ton ton ton and correspond in course and oration location with wih the tho King James Iames and Martha Washington veins These Thes o stringers e no doubt will wi respond to de de- A crosscut to the west wet from tho the main shaft haft shaf ha has h been ten driven to the side lines of o l' 10 io company compan property developing three barren barn fissures running north and ald south Tho cast crosscut run a few lc years a ago o. o has a beon been extended to the east cst east a distance of 31 feet recto and thus th 1 far fer the tho dc- dc In our opinion 1 Is of or great Im Im- lm- lm The crosscut Is la In Jn virgin ground Jound and lisa Has ni paused passed through sixty five feet of or vein In ma matter Her with wih well wel defined foot and ind hanging walls wals containing quartz anti and all traces races of or gold silver cr and lead lead values This vein parallels the Governor vein eln about O feet to the tho east cast While it i does dONI not crr carry commercial ommer n values at tho point encountered It i shourd carry irry rr the values at nt greater depth Forty five feet further ea east cast l a small stringer of quartz was cut cul contains valLies alue which tome some very er sO but hut being so o email emali smal it I Is at present Impossible sible to make it pa pay pa This crosscut Is still sti being extended and wo we expect to cut another shoot corresponding In course courso with the Martha Marth Washington as the veins thus tUA fa far l' l encountered corr correspond In course courso ro C 1 the two first stringers cut I cro crosscutting In the porphyry feet reet south of ot this point spoken of or In the description of or tho the SOO 00 south drift develop develop- rn ment ment ent At tho the present tm time We wo aro arc extending to o th the east cast eat a crosscut croscut on the 1000 level for the purpose purse of or cutting at a foot greater catel depth the vein rein showing on the level Wo c have alred already extended crosscut feet cot fet and f figure that there theres Is s yet et fifty tt f of sixty feet to lo run Iun be before foro wo we can expect to cut the tic vein work has hM TAH already cut cul a si small l stringer o of quartz containing alle values to to the tho amount of 15 Hi p per pr r ton but ye we are leaving this showing until mill It a a more opportune time to prospect While we e on only I have ha e a small mal amount of or commercial ore In sight we feel that the prospects for or opening new now ore bodies were never betel better and the thc extensive de development do- do campaign now being conducted will rill wi without doubt bring satisfactory re rc- rc suIts FOOTAGE Tunnels Drifts Co Crosscuts ts 1010 Raises Total ii QU QUARTZ ORE PRODUCTION OX Tons TonA Moist weight t Moisture 3 S. S 0 D Dry weight 1 METAL CONTENTS TS Gold ounces Average per ton ounces OH Silver SI er ounces Average per ton ton ounces US 15 Lt Lead pounds Per cent Copper pounds Per cent Y VALUES LUI S. S er A Average e Per Ton TOi Gross GroS i s o Smelting freight freigh sampling sara sam pling pIng and assaying Net 1599 63 IRON ORE PRODUCTION Gross Gross 0 13 Smelting freight feight and ad sampling sampling sam sam- pling sm Net f. f Ton Tons Moist weight r. r Moisture per cent Dr Dry tiry weight I. I Pounds Iron A per cent cent OPERA OPERATION QUARTZ OPERATION QUARTZ MINI MINK MINE Ore Per Cost Ton Development 2326 Sloping 05 hoisting Surface f Surveying and as assaying General expense Boilers S. Total 1 OPERA OPERATION IRON TI IRON lU MINE K KOre Ore Ore Per Pei Per Co Gobi Cost t. t Ton ron Sloping u 1 Hol hoisting Surface expense Surveying and assaying 1910 General Generl expense 83 09 Boilers Boler r 08 Total PLANT Buildings and fixtures Cars Car and tracks Machinery Hoist Holst Shafts and nd tunnels I Pumps Total i FINANCIAl FINANCIAL STAI STATEMENT U NT YEAR TEAR iNDING END ENDING iND- iND ND- ND ING DECEMBER R 31 31 1913 t RECEIPTS Cash balance Jan Jau 1 1 1 1913 13 i. i n. n 9 Interest 12 5 1 Quartz or ore sales 3 l Iron ore re sales Cash overdraft December Decem ber her 31 31 1913 13 07 DISBURSEMENTS Operating PI Plant lt 2 1469 6 Taxes Bills receivable f 4 RECONCILIATION OF Ol OPERATING EXPENDITURES WITH TIlE THE COST SHEETS REPORT IN IN ASSISTANT MANAGERS MANAGER'S Disbursed 1 1913 1313 Current bills bis unpaid 1 S 9 Inventory December 31 31 J 1913 5 51 j e Bills Bis collectable i li Unpaid bis bills from rota 1 1912 1013 Actual operating nJ cost COt STATE STATEMENT IN OF OP RESOURCES E AND ANDI I LIABILITIES I RESOURCES Mining property properly j G Treasury tock stock tock 00 Bills re receivable Bis Supplies on Oil hand Plant equipment 01 Sundry accounts receivable 1 75 Loss and gain gahi Total v J I LIABILITIES S. S I I. I Capital tock stock Pay roll for December 3 I rol Accounts payable p Cash Casl overdraft Total STATEMENT OF INCO INCOME IE INCOME Ore sales quartz 8 Or Ore Or sales ales iron Other income I Total s DEDUCTIONS S. S Operating exp expense Iron ron ore me freight H. H Quartz ore f freight Depreciation T i J l I 1 Total J a Balance to debit o of loss and I Ig g ln nl account S 3 LOSS AND GAI GAIN ACCOUNT Net Io as above for 1913 Debit Debi balance Jan 1 1 1913 Total to date dat The Tho Tie uld old board boar of directors consisting of Jese Knight George Geru Y V. Wallace W W. Lester Lea Les Ls i iter ter Mangum R. R E E. A Allen Ahen len and L. L E. E Riter was elected b by vote of or share being all al of f the stock tock represented at nt the tho annual meeting held February 9 1911 i. i The Tho secretary wa was Instructed to mall mail mal COP copy of annual report to all al stockholders of or record I W. W L. L MANGUM Secretary |