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Show WM COH WHL PAY DIYIDEKD Of ONE GOT A SHARE At th 4nnul mottnf of hrhMdr f th Tftnkt Oonaoliotod lat irtMUrday afternoon th dlroctora and offlcwi aloct-d aloct-d vara aa fallowa; J. B. Flick, praal , dnt; B. X Lehman. rca praaldaat ajtd i canaral maaacar; A: K. CaAflald, aacra tary and traaaurar. Thaaa, with H. P: Clark and H. C. Bdwarda. ooaipUt tha I board of dlractora. Tba dlraotora poatad a dividend of 1 oant par ahara, acvra rattnc i;0.(Ma and tha aama ta pavaala February 1. General Manecer B. N. Lehman auo mltled the (olio win report: Operating flnenoee-Attantlon la called to tna followtna ummery of tha flnancea of the company, for tha year end In D-cetnber D-cetnber 11, Itll, tha detalla eppeaiinc more fully In the atatement prerord by the eecretary and praaentad aiaewhere In thla report: Balance January 1. im t 1M.M Ket returne from leeaeee aad company area aO.T7S.Rl Ket returna from otKer aoureaa. l.eT .4 lUturaa from aeeeeement No. 1 M.aed.aa ftettrme from all eouroea. . . .72.642. a Total opera tin mvpmim ttl7.1 Belance on hand Jan. 1. ltlS..lM0a.U From tha total operating ex- Penaea ta,U7.14 Ztoduct total nar returna from epefatlns ItMl.fct Leavaa net loaa from opera t- ini $ SH.U The toaeea oocurred In tha flrat halt of tha yar and were met by aMneament No. 1 of t cenie a ahara. Tha aetna occurred oc-curred In tha eecond half and practlcaily reetored to the treaaury tha amount of the aeeeeement. Rel ro.pKt The year opened with the mine In felr condition In eevrat reepecta The revrtvea nm from tha low-srade mill dump artdfrom royaltlea Tha proa-pect proa-pect on the 1100 level, lrrheiited from the rrev1oua year, premleed eoon to devalop nto another eourro of revenua. Inetead of doing- ao, howevor, d urine; the year. It developed Into a large mlneraliaed aona carTylrrg low Taluea Tn leed. allvor, copper cop-per and gold In quart. Iron and manga-ne. manga-ne. ana promleing result on further prospecting. Slno Orgs Valnabla. Meantime, through exhaustion of th mill dump in th easly summsr, tha revenues reve-nues ceased to pay tha eipanses of prospecting pros-pecting and. after visits to ths mlna by all ths resident dlractora. which convinced con-vinced them that further expenditures were amply warranted, and even dictated. oy ui prosvpsc'VB, mm ooara or airactor met and levied aeseaament No. T of I canta a ahara. With tha fund ao aa-curd. aa-curd. the wort waa pushed aa bare-after bare-after shown. To supplement trrie fund an unexpected eouroe of revenue became available during the latter part of th year In tha bed of sine ore fn tha mine, when that metal acquired an enhanced value In tha market, which warranted It extraction. Tna reult of thla la that w end tha year with aa amount In th treaaury approximately tha amount of th aeement levied. Zino ore Thla ore, which at' first wa not estimated at more than two car load, haa developed rge tonnaga, which, on tha tie Oecern bar. amounted amount-ed to a hlprvent of thirty-one M-ton ; eara, which aeeayed from w to 40 per oent sine and yielded net emelter return n avarag of t2ft per groaa and about $24 per dry ton of ore, the only tiarg gal net which la tha cost of mining and loading; on eara. Praaant TuiAf Good. After tha foregoing shipments tha ore broken and In transit, together with that In place In tha ratna. ahowad a much larger tonnaga In eight than waa In alght In tha earlier etagea of development. Thla la due to tha fact that what waa suspected In the beginning:, but not known, has proved upon development to be true, via., that the slno ore axrompa-nlea axrompa-nlea tha lead-Jver ore throughout the extent of tha mlna. with tha farther fa at that. In aome plaoaa. It haa aaea found in both hanging and footwall. Aleo. the auppoeltlon waa, that It would be found In practically uniform, ahailow berie under the lead-allver, which la part. 1y true, witn the variation, aa an agreeable agree-able aurprl. that It haa been found In ylecee to extend Into tha foot wall, away rom the lead-allver aa much a fifty feet. A a the latter had been previously extracted, thla left ttie neceeeary open Inge for low -cost mining of slno ore. -cept where waste rock waa formerly deposited. de-posited. Th grade of tha ore eeetn ta be aa high In tha upper a in the lower levla, where first opened. It le now safe tn ay that tha deposit axtend through th ntlra length of tha old topes, varying in alee at different point. No accurate est i mat a can ba mad of tha amount of thla ore atlll In place. With the foregoing fore-going conditions In mind, it Is everybody every-body s guess, but it 1s a safe guess that It will last aa long a the markat price of tha metal nil) warrant it extraction. extrac-tion. Our ora contract 1 with the Kansas Zinc company of Altnona. Kan., which settles in full. Immediately upon assay through the Utah Ore Hampltrig company, which earn pie tn transit. Our relations with the purchaser have been uniformly satisfactory. Work Pom la Tear. The car shot-lag wa not a aerlou trouble during the year, but a delay of ever month In obtaining aatlefartory fr(ght rates to natural gas belt points threatened to be eerloua. At this writ- Ing the car shortage is trwihleeome, foreign for-eign empties being relied upon for shipment ship-ment from sampler at Hltver City. The superintendent, L. Meniman. ra-porta ra-porta proepectlng work In drtfta, raises and winaes a follows: - -1 ss . I t? f 1100 level 11,141. II HV.... !.:. I leoo level 1,150 23kl 12 1. 7 1 looo level iTU.tj in1 uj sol.t 'Total !,71B,i 444I IIMt'iuH.B Tha moot Intereetlg of thess Isvets recently re-cently has been th 1100, where tha drift to the weal and south encountered veins of quarts carrying I per cent lead, two io three ounces sliver and so cent to I In gold. In th aouth atn1on of this drift a drift from a raia I in a quart vein It whol width, carrying Iron with the other metals aa above. A crosscut to ths north from ths west drift soms distance weal of the ahaft la all In vain I matter, the alas ef which haa not been determined. This carries about It In valuee. Having been opened el nee the flrat of January It la not properly a part of thla report. The appearance of thlo rock, when brought 10 the surface. In the absence of seaay would cans It to ba taken for shipping or, tn fact. It much reeemtvles aome ore In th camp that bring rich returns. Our working theory Is that these occurrences, together with those on ths 100, described In the teat annual report, are Indications of shipping org nearby. Our problem la to find It. Prospects at Depth. i A drift on the 3000 level, which Is headed for the gulch to the east In a way ultimately to crosscut what Is locally lo-cally known a the Great BTaatem vein, ha been In kindly dolomite throiajhout. following a fieaur whith numeroua mall cave, vuaga and air courage and haa en-countered en-countered qusrts. msnganeee and Iron, with prospects In leal. silver and gold. The objective point la ao far away from other prospects snd ores In the mine that. If ore lo found here, it will constitute con-stitute a second mln on your property In the deep, assuming that the excellent riroapects spoken of above shsll develop ntn the Bret one. In conclusion, f would aay that srhen found the mine I In an excellent condition condi-tion for Immediate mining of ore. The eoiiipment I of th beet for oure pur-posss pur-posss snd the power is furnished at a reasonable coat. Tha raport of Secretary A. V.. Can-field Can-field showed th following expenditure. Mine. I10.7tl.7n-. nroapertlna. I1I.470.4H; ore expense, 173.511.40; aeneral axnense, 174,5.07: mine house and office, 113.4:-1 power, 4o4l as; total. 144.111.51. The rs-' cslpta follow Balsa f Oraa. Pound. Ore shipments flea, sees) , 1.17.7n VT.:'. 1 Yankee dump 17114,40 LIT. Tankaa sine 3.117, 000 st.144r.74 Total ihlpmrme .'Mil 430 IIK.tV;Ti Mine I . ivno Mine house and office 174.00 Oentral expn ; t;7.1 Or xpena .. 537.45 Assessment Na 7 VO.OeO.eO Total receipts tM.l5H.lt Balance January t. 1112 , 140 Ik Total '.. .4 ris 7 Lea expenditure fforwsrrla.. M.tll.kl Cash January I. 1111 . . . , . . .Ill ink II |