Show DALY OAlY WEST ISSUES QUARTERLY STATEMENT White While little is heard henril of the tho movements movements move move- ments in opening up the Daly West properties reports from Park City are areto areto areto to the effect that better headway is isnow now flow bein being made male in connecting the drain tunnel and shaft On May fay 1 the company com corn pany issued issued- the following statement to shareholders uRai Baise e under shaft up 93 feet leaving lea leav i leg iDS feet to connect Crosscut to rein Tein extended feet from point cs where te to shaft was wall started 1 that th vein will be cut cuti i hin feet additional drifting of ot the Daly West shaft st started Allan Uon will wil be cut at the tho foot 1700 J and pel l and a crosscut run to the vein th t I first quarterly report for the tho rear sr has as also just been mailed to share share- lerg ger ers In this it is ill shown that dis dis- 1 1 amounted to I. I t a cash each balance balanc at the tho end of I It jf Of Tho The receipts durie dur- dur ie first three months of the year as follows iOa Ot tales lales crude tons Ml sales concentrates 1571 tons receipts tn In giving vin account of the difficulties e ns as welt well as a note on the I conditions tho the report is as OWl Durins the quarter a II dividend of Io i tents per share amounting to 54 54 was declared but it was not pay pay- ble 71 We to until April 10 so does not show Rh statement The The caving caving avin of the Ontario drain lei el delayed development of the mine In depth f for r three years or more with Je e result that the oro ore reserves were i 3 tl vily drawn on and at present are On this account for some time vA the mill has been running but one ono tout shUt Under these conditions and with the tJ heavy expense of connecting with the shaft an and l crosscutting to the tho vein on the tunnel level but little profit ean can be expected Durin During the quarter 36 was expended on this work during durins dur dur- On EOn account of the hea heavy snows lug ins the month of February it was impossible impossible im im- un- un possible to se secure ure a II constant supply of coal eoal on account of the blocking of the high line Jine and durin during March our water supply failed causing causin numerous shutdowns shutdowns shut shut- downs which materially lessened re re- re- re |