Show COLUMBUS CONS CONSI fiNE ll Interesting Report Submitted to tot t Shareholders at the Annual iL Meeting This Afternoon fe FROM PRESIDENT JACOBSON Company Ills In Halik Ko Nil z HIP Ihl t Contains Tj The annual meeting of the ir IrA rii of oC the Columbus Consolidated Min Mining In ing company Is 1 being beins held hecl this thin after aCter afternoon v noon At 23 30 the election of DC oft 4 t I new fleW board of nC t director had not been heen reached reachel hut but Indications at that hour pointed towards the selection of oC nt at least lea t the following to ere during till the e ensuing ing in year Tony TOllY Clarence Carenco K 1 H 3 A Whitney and I d ward 1 It n halt Hall the latter a I prominent Chicago banker Mr Ir Whitney It Is l I un understood uner er tood U le to hold the position of oC treasurer and possibly secretary to Arthur K I Snow Sno In his report to 10 shareholders President t dent Tony lony Jacobson presented a n most moat exhibit It the minu to lo be In an exceedingly good gool physical and ind n the company treasury In u a pien Iti financial condition v the receipts According to the report Df Dt the company during the year 1905 from riom all nil aggregate I of Dt this thie amount came Clime from train I Ithe the tin sale eale of ot concentrates from tho enlo of uC if crude ore oie from 8 No 0 from the sale cab f t power Insurance sale lIale alo of ot j treasury stock 2000 the balance balanco com corn comIng taR Ing from Items The Tho disbursements Including i ilo ii to lo salary account mine mill pay payrolls rolls power pay roll rolli f lo 10 to mill pay roll roIi power powel plant Improve Improvement ment building Improvements ole oin haulage 3 to h Tho rho statement of oC resources tie ate are life summed up tiP in the following property each cash c price paid M supplier on hand at lit mine machinery In III mine mille tV 2 concentrator tutu Improvements runt lj lower plant nail and Im tin Improvements cost co t buildings arid and Improvements stock certificates cash on hand received rec nus 18 balance on Ott tI paid for development to tl ti 2 total SO J stock I 1 S emergency fund profit loss lone IO i 2 total i I Heal Henl December bill bilk on Ill credit balance 29 President nays In his hU re report reo report port b c Tho The year commenced with several necessary at the tutu mill luch ns as II 9 I rom 1111 III Jh classifiers 1 if c In order In lit get Iet the proper dauNt l to meet the of oe a 11 anew t new nIli mill to handle 1 a certain clans of oC oCi i Me no And obtain the best bent possible Having i Thee havo hava been and tile lie tutu mill Is in now IIO ii 11 iv very It good condition 4 Its caving being us at close clone e as an practical by h There Then hive have ha e been belli Install Installed ed itt II three of suf o for or weighing rude ores orrl on jig antI and J labile floors ng UH Un to determine let our per pr cent of oC Having A ViI Wll ey and a II climes Jig Jh have been tseu S I 51 to the th mill in lit equipment A total of or It wet et or of crude k sro Dra re h iUIe e been milled averaging fc rt per ton 1011 or fir Ii a gro grou H value of or ri JL ry produced 2 fr on dry of oC 11 nt III U per vr ler ton 1011 or a 11 gross value llIe of ot SG sa f a n saving caving M 1 II of oC Th is per pr pry fi y rent relit and on u IL basis basin ba ls of oC oCi i lS IS to 10 1 n f COST OF OI f The fhe cost co t of oC milling was vae WA 2 23 3 per ton 1011 Divided as liS follows Improvements and anil 4 10 10 I Operating potter assays a otc ole 13 Total TotalS S MINI lIl J No o 3 1 haft chart has han been ii Zi 2 5 feet eel then n a drift east through u ut 1 large tire ore body for hr t l n a 1 of or feet Cret nt itt point u a shaft wa was stink mink feet mil a ral rul e driven 10 feet fed to III ti tunnel level levelA lenlA I I A large lare bun hus been cut on the theS i S tunnel level lerel ansI and a II two tOil Ilk III put putS S III In operation HO that WI vp p have a n ar r veil ivell main Incline shaft io I O feet deep the tunnel level levelA I IA Ii A station Mathon has hus him been lucen cut lit l on Oil the 00 l level eel nUo have havn drifted on ott I k vel and cut the expos I I lug Log 11 n body hod of ot Hint ilass or oit live feet reet In lii liis I s width We Ve art nf fallowing this title to II point of lC contact COli tact and already have drifted SO I 1 fret feet In u this tItle ore with no decrease decreane in lii IIII or sir value Un U is have havo done ilone 1600 1609 fret cut of nt development work below tunnel I level during the year and aint have extract Mi tel 2916 Jl tons of 1 rude crude shipping ore of oC oCt value IS per ton tout or lr u it total value valne of ot t li III In practically development lIt work ork atolls alone I Shaft No 4 I lit lii the shaft which ling hat been sunk Kunk tt l 16 5 feet filet below tort tun tunnel nel level loel with 00 cot feol of ot drifting train from I bottom tho tIm contact Title This contact IH lii f Icing followed to tn Intersection with I eure and already litre thre Is IH a II large body of ot milling ore ort to draw Drifting IK I In progress I in the lImbo t I fissure on urn the Ihl tumid level to u a con cart contact tact about 1000 feet west of ot No 3 shaft lhart At Intervals good milling ore Is token out and we e may 1 encounter a n larK borg continuous body bod of sit ore uro at any In line lineIn I In lit nil all we ve e have hlo lone done 2573 feet elet of lit II de Is work during doming the year and allt t 5 Lava have mined tun of milling and shipping ore ire nt lit nil flit actual mining millIng cost cant of cC per ton toil tonI I MADI ADI Early Earl In the year ear a II brick assay assa fur Cur ruco was vils completed ted alro III alp n a house for forthe forthe the mill superintendent and other I oMs odds and nih ends Wo IVe Ve hove have constructed an ore bin of oC 1000 tons joan capacity Ill nine also n a nOne fine boarding house which Is in strictly modern mO lern In every Ewer respect will accommodate I t 1 nun P v A hoisting engine In has ban been erected a atho lit at atthe tho the Incline capable pt tiC f handling the two ton tOil skip at nt a 1 depth of ot oct foot also alo an electric pump lump has liac been Installed capable arable of oC handling SOS 3 J gallon gallone of or water waler per por minute under a n head of ot 00 feet teet This Thin pump lump will SilO save to horsepower energy en en A rock drill sharpener has hoe been E to our equipment al also o nn no additional air br compressor with II th a n capacity of ot cubic feet Ceet of ot free nit IIII per minute The I mine system hoe has been heen I caUd cald and have also alpo Ilso let n II contract for tu an additional rate and a aI I for or I the power plant Whoa W lion I this Is li II Installed In hll ue we will vilI wi have duplicated I our entire system and attI 1111 will wi b bl be equipped d for any ni emergency During the year ar shoe due II le attention hat haC hiI been b cn given to t economy In mining and the Improvements made enable us UN to 10 handle the mine product at n a 1 low tow cost COlt TIlE THE m m All Al lt the first r t dane class cli ore extracted cant cam from development work worl no 10 effort being belme mado to produce a I large tonnage by hy methods We e now have hale n tz t large c body hud of oC milling ore In III the How Howland land hind and nd some nonte milling ore ban Ims h been en cn opened up lip hll drifting on ln the O At tt t pre ent nt there la Is n I body of or first imet tret chits elnen 1111 ore eve developed at ut the new lew Incline shaft for a R distance of o O 09 feet a depth of nf SOO 20 feet teet nail average thickness of ot live feet reel Assays of ot this thIn give he an average value vali of or 5 per ton tail hence henes there Is i u 1 gross grous value vaine of nt fr over In this block or ore alone I It 1 Iff Iu tIle Intention of or the management to continue sinking this thin liott to a depth of at o or WO tOo 00 feet Ceet before doing any an sloping The financial II statement shows that thai we Wl began hegan the tho year Pl with an I Indebtedness of ot nearly There Theme Is In now nw a credit balance of fr after lter all al au Indebted Indebtedness ness flees options on ott acquired have brett been paid The ulie he mine Is In goad 1001 condition and tint the theore theore ore reserves art larger thor at nt any 1109 lY previous period The he reunite results of oC level devel work vork In II the past year lr have been heln very pry satisfactory ansI and wo wi 10 begin I the LilIan year eor with wih most mont encouraging condi conditions |