Deseret Evening News | 1901-04-11 | Page 11 | The Star Con. Annual Today

JUU u u ii m THE STAR STAB CON ANNUAL TODAY i I Report r Showed the Company to be bo in Debt v STUCK NUT NOT SOLD Ilio Iho boll bollI EaCH I nl lh Hie Ie Mor fol rum he lie lIly Illy m miu The shareholders ot the Star Con Mining company met let In annual session this mOrning m and listened to an al Inter report from tho the president and secretary of ot the thc company This report showed that had been received from the sale of ot ores since sll c the present nt took hold of ot tho the property I on May 1st 1900 10 At thirst that time the company was walin In debt the greater great er or part of ot which was fil due 10 on in account of ot ofa otI ofa a I voluntary assessment made by tho tile shareholders over a year HBO ago The han hM paId off or debts amounting to during tho the year SO of ot which wan sas due luu to the purchase of the WIllie Wile lode The rhe company la Is II now In debt but It hits has In the tho treasury which reduces tM Indebtedness to As Asan Asan an all offset to this debt tho the company has baa clinics of ot treasury treasur stock Block on hand which at lit present pl ent prices makes tho the company practically oven with the world In II the reduction of at the tho debt from to the company lute hns showed an on earning capacity of ot In tn tho the past 11 1 months which Is consid consil cred cre a I very good showing The Tho of or tho company are ns as lS follows Milan lackard president H n HA nA IIA A Deal of vice president pre and ant A 0 O Packard ot or see sec S C rotary and treasurer These with wih M MO 0 O Packard c 0 R F I Packard and C S 8 DavIs constitute the directorate C V P Packard still continues as superintend superintendent ent cut of the mine President Packard who has ha been very sick for tor some time tle came caine cale to tl the city today for tho the first time In many weeks He confirmed the reported strike cm on the level lovel though It n Is un understood that the ore o Is 11 low grade rUte Its ItH I values are aro lead 1 ld sliver and nd copper No attempt la Is IJ being made to explore tho the big hi cave elve on Cit tho thio COO 60 though when the company t I is more Hush lush with funds OIl nil ni effort will vill wi be made 1110 to VJ get t under It I t by sinking linking the shaft Mr Packard says ha ho wi will make mako a I mine Of the tue Star Con yet et ct though It I will 11 take tuko n a good deal dell I more money lunacy to do It i He lIe wishes now nets that ht Im lie had hlll not paid any money mone on nn the tho us as assessment Bel ment nl nt aK he would have had a it larger surplus which will wil bo he needed In the tho out of ot the plans plan The Tie monthly expense of tho tile company Is I about 2600 Two cars of DC ore 2 cars ears ot If f gold Kold Koh ore nie Oe are being loaded at the tho I nine mine Tile The report la hi J Just J t about what was waH expected and It was thought It I II I I WOUld not materially affect the stock