Salt Lake Telegram | 1935-02-08 | Page 21 | Silver King Mine Profit Reported

SILVER KING KlO MINE PROFIT 1 Silver King Coalition Mines company corn com s pany last year earned a net profit of alter after depreciation it I is revealed in the annual report released re leased Thursday by M. M J. J Dailey general gen gena eral manager Mining operations produced tons of first class or shipping ore sold and tons of milling ore says the report From the milling ore there was produced tons of lead concentrates and toni of zinc concentrates In addition there was marketed tons of zinc 1 concentrates held in storage that were produced during the period of metal prices there remains re remains mains tons ton of zinc concentrates in stock pile awaiting better zinc price Alter After deductions for smelter and freight charges from Park City to smelter the company received from Irom ore sales during the year 1765 Income from other sources amounted to making a total to- to to 1 tal income for the year of 1603 1803 Expenses for mining milling administration office and all aU other expenses including taxes amounted to o leaving an operating profit of From this was t deducted to cover showing a net profit of for the year Dividends de- de dared amounted to 50 cents per share a total for the year of There was feet of development develop ment work done at a cost of The property operated days during the year and maintained an average of per day The property operated continuously except for Saturdays Sundays and holidays Wages were increased approximately ap- ap proximately 25 per cent Silver contributed per cent lead per cent zinc 1719 per cent gold per cent and copper 37 per cent ol of the total receipts from ore sales Current assets are listed at 1092 and current liabilities at