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Show lE COALITION HOLDS MEETING Board of Directors Re-elected byyStockholders at An- nual Meeting SALT LAKE, May J S. Silver Kins! Coalition Mines company settled Ita litigation with the Keystone company for 00.000 of which $50,000 ha been paid, according to (he auditor's statement In the annual report to stockholders which was Issued at the nnnuul meeting- of the company yss-tcnly yss-tcnly y. Tli- old boar' of i;r?Cii;-, fnnsJst-j Ing of V .S. M'.'CormicIc, Sloy.an C. Fox, rlen-y Newell, W. G. flallornn; James Iver.-j, David Keith Thom.i3 F. Kcarng W. Mont Ferry and Frank J. "Wcstcof, wero re-elculud. The Jiuiitcrs balance sheet in tho annuai rin.M shows ,i .rash nco?unt o S30SJ47.3U: Liberty bonds. 5100,-000; 5100,-000; sftocks owned, ?1 52.7fi2.G6, In thl3 account S3, 000 share or trustee and treasury stock s shown ns $ 41,350, whrtas the market v-ilwo v.:s approximately approx-imately i'iA,T,0 nt December ,31. iMfl. No iiiote-l vriKie Is i:lv-n for N7.01J shares of I'aU-'vtew mining slock that Is held. Ore In trmr-Jit ooJU'ci-.jd in January, totaled S70.652.71; Inventories Inventor-ies total, 41,S1.7l. No prov'sivi ha boon nimlo fcr lh Conkling judgment, should It be decided de-cided advcrsyiv; on the ICi-yslono Judgment Judg-ment J50,(00 h.'i.i been onlored as n. liability .in-l other entered liabilities for suppiLd. pay rod, etc., art- 524,-C11.09. 524,-C11.09. , Piofits fron mine opinjiiion lust ycr.r vere iC" 2n-'i.C0, after litigation expenses or $152,17S.G3 had been paid from earnings. Total ore salvs were ?8S5,915.50 and- the following accounts, ac-counts, Interest on bonds, $3750; discount dis-count (store purchases), S371.29; rents and miscelaneous Income, 5S96,S?5.69. Expenditures were: Or crating costs. $G05.030.94: Salt Lake office expense $21.7S2.19; legal expense, ?152,17$.GS; depreciation, $51,601.59. In, his annual report, Managing Director Di-rector "W. Mont Ferry says that very, .important changes have taken placo In the status of litigation affecting the company. The Knystono suits have all been settled, ilon.r with other threatened litigation ajid tho only litigation liti-gation now'be'ore tftj company is the Conkling judgment" for f 50.000, on which a rehearing has been ordered by the United States supreme court. Operations during tho first six months of 1919 wero handicapped by labor shortage and tho strike which affected the entire camp. During the last six months considerable progress was made and if tne labor sUuntinn remains reasonably normal, J920 should prove to be a good year, not only In immediate financial returns, but in the development of ore reserves. re-serves. Mine Manager M J. Dalley.twho was appointed several months ago, in the reports says tho output of tho initu for the year 1919 was 10,830.5') Vns of first-class ore, which sold for $ji:iu,-224.05, $ji:iu,-224.05, and 43,470 tons of second-class second-class ore, w(hlchv.jproduced S423- tons of concentrates and middlings, which sold for $2S9,71S.10. Leasers' production produc-tion .from old stopes was sold for $12,-C13.95, $12,-C13.95, from which the company ro-ceived ro-ceived as net royalty $3263.5$. |