Show ELY REPORT SO SHOWS THE TUt CONDITiON Of MINI IN i Shareholders of the tho Ely Ey Consolidated ren receipt of a report made by y President Sam Levy This shows the j financial f conditions of the property as al of date or-date date October 31 at 1010 1910 issued issue in com coin I n e to the Nevada state law Mr l b 00 a D DurIng rIng the first four months of this period work WOJ was confined principally lp the foot level of tIle the Brilliant shaft haf consisted mainly of d drifts 11 u und unil cro cross s- s nt cuts Some additional lal low grade low orade copper copper ore was ws developed in the No 2 west also some low-grade low lead ead ore wa was enc encountered Since my letter of July 1 some sorno additional additional addi addi- t nal work has been done donG exploring the thep i p th copper ore deposit on the foot level of the Zak Zae shaft This work worl consisted ted of the drifts both and southerly and these work work- I ings ln gs continue in the same anio material This appears to be ho at an extensive deposit The I latter Jatter part of September work worl was stis- stis I d on this level le a and nd a I plant installed at the collar colar of this shaft shaf the station staton at the foot foot level enlarged ed and the shaft enlarged enlarged tu to two to full ful compartments com com- como I from this This shaft has now reached the foot level le and ih the bottom is in hI ore oe conI containing con con- I taming copper values characteristic of th the Ely copp copper bearing r porphyries At t I point an Increased flow fow of was as encountered which necessitates In Installation In- In of additional pumps and tle hois boil boil- hoi hoi- rs rs' rs s and an Rn increased expenditure tem tem- p It I Is anticipated ted that this at water r rIs is merely a pocket and will wi soon be he pump d out out which condition has been frequently found in the Ely district It Itte I h I te proposed to continue this shaft to the foot foot fOO-foot level Ie when drifts will wi be run to explore the extent of this deposit Am pleased to say ay that assessment No Nc 3 came In in a R very cry satisfactory manner maimer On s sale le day t ere only remained a small number of ot shares hares unpaid on and they wro bid into the treasury treasur The following is the financial statement statement state- state ment A ASSETS I Mining property property- Twenty mining claims ap approxImately approximately ap- ap proximately acres 47 Surface improvements improvements- Machinery tools building office furniture and stable Mine developments de Underground r und work and de developing developing de- de ore n Supplies Unused material materia on hand band General exp expenses Office expenses traen traveling I 0 expenses expense organization ex exp expenses ox- ox p legal expenses a as assessment ss- ss s- s expenses expanses secretary's secre secre- tai tary's salary salar registrar and k transfer a agents agents' fees commission commission com com- mission U. U S. S patents In- In su ranee taxes etc etc Cash notes and accounts account receivable Treasury stock stock- shares capital stock tock treasury y at 10 10 l Stock Stoel disc discount Difference between par and price of ot treasury stock sold 4 4 14 T Total 0 t a 1 p 1 09 9 1 n i I. I fL LIABILITIES fl V- V Vi i SLy V t Capital stock stock- v r V Author d capital i shares at 10 0 p par r C capital capital- c shares IT A. hare a capital or 1 stock v v vi i i V. V lonate t to the company by v the Incorporators torl for tor a working capital at 10 1 V Amount received from sales saks j of of- ore interest and as- as j c V s A V V s f r Accounts pa payable payable- Payroll and and sundry sundrY ac- ac J C-J- cp counts u i VITO Total ta I 13 0 4 VV T and arid disbursements May 31 to toI I V Ott b r 31 n. 1910 1310 V 4 1 V V V RECEIPTS G Cash shon May lay 31 1 1 1910 1310 2047 Cash borrowed before lev levyn levy levy- 4 J J g S assessment No 3 n v. v rn Received G on account assess- assess r No S rom Froin sale of ore etc 4 49 C o ec c Unpaid V r October pa payroll oH and sundry accounts n 4 I 1 j jt t r V v Total otal V j T V DISBURSEMENTS Mirie development development u 1 81 40 to V J s Mine l 1 t 0 n V US UT S. S patents 1 O. O O- O t t General G. G expenses 1 I 8 8 l t V Notes lo ancl ns paid pad V Notes NOeS rece receivable ble V nun Sundry d ry accounts t s. s S 9 l i C Ca Cahon h on h-on on hand and in bank 31 1 7 V Total a |