Show splendid report on chief C cons ons has nearly in the treasury extensive develop ment vork work under way op a tion 0 on n the scotia forfeited early 1 1 1 n the week the share hold era ers of the chief consolidated min ing company received checks cover ing the dividend and accod pai lanying lying these checks was a report co boering ering operations at the property tor for the first six months of the pre pro sent ent year this report which Is published below shows that the tile chief consolidated company in id ad to increasing its dividends from 10 to 20 per cent has also ad ded to the reserve fund in the trea sury and the mine a cash on hand amounts to almost the portion of the aport om cm piled by bupt supt cecil fitch shows tempt that f for or the e six months ending june tha rIna did at I 1 feet of dri drifting efting and fe e t raising making a total of 9 teet feet of de work the total ship ments of ore for the six months ag gle gated 42 tons yielding net a after ter the payment of transportation smelting and sampling charges OS 05 GD 6 the average gross value per ton was JO 08 the ing freight and smelting cost per ton ja 1247 47 making the average net value 1 of I the ore 17 61 the net profit alter niter the payment of all charges waa was 85 the treasurer treasurers s report of receipts a and n d e expenditures shows that hand t the e compin c 0 m p i n bad d 10 1 0 04 03 on hand january 1st t an and d t that ha the ore sales brought 68 58 interest 2 alid I 1 ureka city ac aunt 71 49 T q a disbursements included the two the purchase of mining claims and the general mine expense amounting to 64 leaving ac in the treasury on J AY 1st mining claims purchased cost the company 99 machin ery and equipment cost 14 63 and the mine operating expenses amounted to 73 manager walter fitch says the large increase in the earn ings for this semi annual period Js Is partly the result ot of the higher metal prices but Is accounted tor for principal ly by the improved quality 0 of the ore produced and the increased ton I 1 nage both conditions resulting from tl ti 3 increased development t work done which has led to the opening of a greater number 0 of producing points than at any time before this not only permits of a larger prodoc tion but also ensures a more form daily tonnage and gives be management selective ability as to the lie quality of the ore which under trebert breser t conditions of restricted shipments la Is proving to be of very great advantage the operation of the scotia mine will be discontinued on august 22 the option ending near that time it has been decided that its location is at too great a distance from the management mani gement I 1 ead quarters to be op crated to advantage I 1 the exl exploration horation lo ration work taken up on tl e large acreage taken up for the he company last year in the east and north disa districts acts is pro beeding with good speed one thousand and thirty seven feet ot of dritt drifting ing and nine leet of raising baa has been done tl alere ere and at the present ioime time a shaft has been started noth ing of value valve has yet et teen t een developed since the last report there has been acquired by purchase about one hundred and fifty acres of addition al at patented patent dd claims which we consi I 1 er prospectively valuable the following paragraphs are tak en from the report of supt bupt cecil ritch the 1000 ore system has been extended in alt le posits between iw the and levels A considerable part of the product has and now Is being derived from these sloping la also being carried on to a email small extent in this system at the 1000 1200 and 1400 levels the 1400 ore system continues to pro duce a moderate aji lount of ore this system has been extended north con sider ably between the and the 1800 levels A small but good grade zinc de N a aa found round at and below the 1000 leel to the north of 0 the last men honed system a new system has aten discovered and stape opened la is known as the ISOO 1800 ore besteni this ore was nas developed at the ISOO 1800 and has been teen partially proved up to the atoo level it baa has also been followed down to the pi manent water level at 1820 the values are the same as above that point this system ie is I 1 now contributing about one third of the mines product during the first lattof patios A the se nl ni annual derild the nili mit e NN as operated at tull full capacity but during the last two months the product has hag icen teen reduced owing to thi the inability of the smelters to ta tale ke all of tl ti e 0 ore on account of lie ie proda pr tion bribing from the different LIN tracts resulting from the stimulus of the high metal priced tho conj A will probably continue long as these prices continue |