Inter-Mountain Republican | 1909-05-28 | Page 6 | Daly West Didn't Clear Dividend

DALY WEST VEST DIDN'T GLEAR DIVIDEND While the Daly West Vest Mining com corn compan company I pany pan during th the tho Quart quarter r which ended March 31 marketed tons of or ore oro I Ifor for and 1571 tons of ot concentrates concentrates concen concen- i concen-i which brought tho the proUts from Its Is operations according to I the tho quarterly quarter statement just sent to stockholders was vas not sufficient to meet tho the dividend of ot which was paid I April 10 I The total receipts from ore sales having havinG been and the total I disbursements the apparent net profit Is ani only But Hul tho sum stun lum of ot was expended during the quarter upon the drainage tunnel and there were miscellaneous receipts of ot so 50 that the tho sum which It I must have o ha been necessary lo to draw from the r reserve erve fund Cund to meet the div dl liv- liv dond was This of course was not a serious drain upon tho the company's re reserve er fund the cash balance on hand March 31 having been And It is likely that the tho cost of or mining and handling tho tue ore will wil be considerably re reduced wh when hC n tho the le developments under wa way snail Hall be ne completed completed Extraordinary ex expenses expenses ox- ox were also during dining February February Feb Fob runny b by tho the heavy snows making Impossible Impossible Impossible Im Im- Im- Im possible the tho securing of 01 a constant supply sup sup- ply 11 of ot coal while In March Mai-cli frequent shutdowns were occasioned h by failure of ot the tho water supply Will vili 11 Cut Cui Production Cot Coil Of or tho the dov developments under way vay the report says Raise under shaft up 93 C feet ot leavIng leaving leav leav- ing 35 feet teet to connect connect Crosscut to vein extended 43 feet from point where crosscut to shaft haf was started It I Is la expected that tho the vein will wil bo be cut within feet feel drifting Sinking of the tho Daly V West st shaft shat started Station will wil be bo cut at the tho foot 1700 level and a crosscut ond run to the tho vein With Wih this work completed tho the Daly Vest West should of course courses be enabled to I In Increase its production Immensely am and produce at lower cost cost Additional henoC heno- heno C fits are arc likely to be bo gained It I is understood under under- sto stood d by a n merger In which Daly V Wet West st st. Ontario Thompson and West Vest Quincy are expected to figure figuro