| Show NACONIS ANNUAL II i c c Exhibit lJ li II P President Pre Pie Cr C r H A special from Butte Bulle Mont ont over tI the thC Pollock wire wll a ays s At time the annual meeting of the Iho Anaconda Ana Ann conda conla Copper Mining company compan held heldal heldt al at t Anaconda toca today John D. D Ryan president of the company pany submitted n report leport o of operations for COl time year 1906 1905 He lie s says says' ays th the the- mines were developed during the year yeal to greater depth than has been heen reached h heretofore in iii time the Butte district and increased develop develop- meats assure the life of lr the mine and andgrade grade of oro ore for rOI man many maimy years to lo corn com come That Thai mining milling properties s owned nell Jj by br time the company outside of oC tho the working working- mines mintha ha have b been C n developed during the yearS yean ear with wilh satisfactory tI factory results anti ami that thai the policy of or the tho management ciment l Isto is islo lo to continue active development of ur all niL niLo allo o of the tIma compan company's plo property Conc Concerning the the he and dismantlement of ot the tue Anacondas Anaconda's old works and time the lease lea of nf the smelter r from fruM th time Washoe c company h he lie says ys that the Washoe works were werl leased Jc-ased for tor a n. long term lerm ff f years ea on on oJ a reasonable rental basis l' l rental coverIng covering cover cover- Ing only int interest oti oh the thc cost cOlof of time the plant with usual allowance for 01 de tie tie- l The fhe J Works show an ul additional on every w rr ton fon of ore oie treated for the company of or a an aM u the time cost and savings say sav 1 ings at the old oM works work This additional pi l to l 1 on nh the time theore theore ore treated for time Anaconda company com om puny pany during I He Sit says that thal in salvage salvage sal sal- lva l- l va vage c and of values from the dump clump of oC time the old works wor s wor s th time the company has ban realized a a profit of ot UG to 10 March 1 1 and estimates le 1 JOo profit still to be he her r recovered co The ThC company wilt will realize realize- from salvage Malvae and metal recoveries reco en entire intire in- in tire value n of tiC the time old works work U as carried on the time books book at the time time they wt were rc abandoned Works treated for the Anaconda Anaconda An An- company during 1 flOii- flOii 1470 4 jl- jl tons Ions and amid produced poun pounds M of copper 31 ounces H of or sliver silver ounces of gold That Thai time the Washoe works have been heen Inci eased mci-eased eased in capacity luring during the year yeam and additional increase a e is iR planned l. l show profits Subsidiary departments of and amid Butte Bulle Anaconda Anacon a hul Hallway shows a net imet Income of oC 96 H. H The balance sheet as as of December shows shown surplus of 4 05 j after afler del deducting utin dividend lIHI J a payable o h. h January J 1 IS S. S 1 llOC Profit for forthe the time year var S after lle nil deducting development dp expenditures s. s depletion of or coal al and Umber timber land a and amid depie- depie elation of plant and equipment |
