Show KEYSTONE CO I MARES MAKES PROFIT Bamberger Holdings In Park City Show Cash AS Assets ets to f a statement l In y to t stockholders st l tr ro by py y PrOal dent Ernest I erier of cC t the tho Keystone Keyt n Mining inning company c m ny ny with properties lit 11 n the tho th Park City die dis district I the th he each cash assets a f ever Yer current cur cur- current r eur-r rent nt liabilities 8 now nw amount to taking Into ac ac- ac account count any mining profit since alnee January 1 I and an without Jt J taxes tuel for fr 1814 1124 depredation al at al are ar nOw n w being tl OperationS at the tl IlIa the Iho statement es e arc i rc ro at this time lime tim particularly encouraging and profits profit for January will 1111 be andI the tha I The Thu Am Amer American r r- r rIcAn largest In n oliT our rI I ican n Smelting and corn com company pan pany market market price pric rice for lead com I for forthe the year was wan 8 I 09 0 cents c nr a pound Our best beat Information la is that for forI torl I 1928 1925 a hither higher average li is expect expect- expected expected t- t ted ed It If the mine conditions condition con con- conI cn I line favorable with Ith the outlook for an t e lead price ice 01 0 oser er that of t last fast la t tear ear profits from trem operations for or the th coming ear should hould lie be k hither higher Those directly In chart charge char of ef t the th company are arc to toIe toh Ie he far r till the th res of oC the year oCI I PROFITS MADE I D Be In the tho h probability ot of otan otan an advance in ln the th price pric ot of lead pounds Fero ere purchased In June ag a t 1 oar pro pro-I pro production at i a a price ot of C r 8 cents centa a 1 pound sight hundred thousand pounds uni of this hate hau ha bin in sold I since January 1 at an average price of 9 7 cents cent and Ihs lh- remain remain- remainIng remaining Int Ing will be Ie told sold al at a in II lee Ice to tolie gh e an profit of oe I 80 on 01 he th he entire tr n I Notes otes and of ot a aI I compan company owning property to 10 the Keystone V T w is purl pur chu chased d and the th pr pity bid In at a sheriffs sheriff sale ale sal In the tho Into reset et of oC t the I Keystone n MininG company I ThIs property ho hoster Hr sac al a re- re re re redeemed deemed and nd Ihil th amount received afforded a a prom profit of about 40 41 UI- UI I mill made a eH stung In of o 2 per cent ot of the Filter siller and I i nd 70 7 2 per pcr cent ot of o the th lead Iad l ad contained Iii In Inthe the ore re A unit has hj been Ie en 1 designed and It Is la planned ned to start con thereof ts to i soon loon toona as 1 geather eather conditions 11 per permit mit This will sill effect a ry ma- ma material ma material increase In III rh n sand and decrease In smelter and haulage charges char es It will sill III lurther ore more add ry eTY to 10 loth the company e B re re enu oy effect effect- Inc tog In Ina a good coo recover recovery In A 1 more saleable form Corm of o the zing contents ot of the tho Ore I 1024 S 1 I Alfred Altred Frank general manager Issued the tha th following follo Ing report to 10 the tho board baud of ot directors director conti the 1924 19 24 operation I The year Kar ar ending December at 11 i 1924 being the th first e r that your our company has hai Its property continuously and at practically practically the tho th lull ull capacity of o Us facilities It lt Ie aith rie falls faction that I I X submit for tor our Information and r n the folIo repOrt CO co c l sr such euch operations and ot of the financial condition of oC o the th com com- company con com company pany U as a ot of January 1 I 1016 1 During the th sear er many yn In UTIp pro o ement wear weer made mado mad et at t the property The Th house bunk bunk h u WU was enlarged practically doubling its Ita capacity and more ote mor commodious and comfortable quartets quartel were provided for the th men A well sell ell equipped change house old wj as con con- constructed con constructed complete with lockers shower hath baths and all necessary n ceary equipment The Th boarding house wu was enlarged b b bt ban an addition lI so 80 oas as to accommodate mar moro more men In Inthe Inthe the dining room and provide provid ad- ad additional additional ad additional office space pic and living quarters A complete steam BImm heat heat- heat ln tog Ing plant was Installed furnish furnish- furnishing Ing heat for fr the lh bunkhouse e mill milland milland and boarding house and assay office offic The Th total cost of oC this construction work and plant Improvement lm was 27 73 79 all of ot which was Wall wa paid for tor and charged against current opera opera- tione operations DEVELOPMENT T WORK I Underground de de base e been ha been satisfactory No 0 exploratory cork ork was ww done It be b Ing deemed best to deter defer r dc desel- desel deel el- el of oC o the th large larr undeveloped loped section of our property until the thelam same can be b approached on deep deep- deeper deeper er levels Attention was wa confined c to the th further furth r development nt and mining and milling of ot the known ore r b bodies s The Th K-K K Il which has haa ha become our main over over- operating oper I shaft haft extending down n from flom the Hanauer tunnel l level lv I was Wall wast WallI wa t I sunk lunk unk during the th year from the to the th level The Tho Th ore I body hu has not rt Ot ben been encountered encountered on the th 00 level crosscut crosscut- crosscutting ting only eying been started since tho first of oC the o year Tills cross crosscut cut and nUl UI ha halo ha hato 0 to be b extended about feet before betTe Intersecting h the Crescent fissure There There Ther was wa s upended expended during the year yar a total of oe f 14 tn for Cor development cork ork ork all ot of which was Wal charged against current oper- oper operations as performed I 00 no |