Show r ANNUAL HUH REPORT OF BECK TUNNEL 1 Late yesterday the annual meeting of ol t I stockholders of the Beck Tunnel Mining company w was waa held at the Knight offices in Provo The old officers and directors I were wee elected re-elected re including J Jesse se Kight Knight president J. J Will wm Knight vice president preel I dent V. V W W. Lester secretary and treasurer who with R. R B. B Allen Alien Alen and andI I Amanda Amnnda M. M Knight constitute tho Reports submitted showing that Ver wet were during the past year 1816 feet of oC development development devel devel- work ork had ha been performed at the Tintic mine and that tons of ore had ha been bean mined and marketed From this output the company showed a net ne re return return return re- re turn of ot a R little better betel than 1 pet per per ton or While some of ot this ore Is of a a low lowge grade ge thero 1 is now being mined a a. small smal tonnage of a better beter grade After deducting all au 01 operating expenses and Interest payments the company re reduced reduced reduced re- re Its Is Indebtedness which brings Its Is overdraft down to at the cbs clos of ot the fiscal year wr ending 30 After dividend payments were suspended the tha company at one time had an Indebtedness Indebted indebted- ness of over So long lonG as S shIpments shipments ship shIp- ments meats are made the company lies has been bean able tO tb show me a a gradual reduction of this account on which interest Is paid to tho the bank A full fulland and complete report could not bo obtained at nt this time but the company vIlI have this complied compiled later It I has ha not been decided to t publish the report of the phy physical and financial conditions but shareholders will be given all al this Information information mation maton upon application to the secretary Development work ork Is to be continued along the same lines that are being followed fol fol- lowed owed at nt this time and the management lopes hopes to be able to report some lome good ore development later on The work for several several sev sev- eral months month has been most encouraging and better beter than expenses expense have been made I during the greater part of ot the year ear The Inze going down from the tunnel level may tap a second enrichment at any time that hat would place the property In the breadwinning class caR again I |