Eureka weekly sentinel. [volume] (Eureka, Nev.) 1887-1902, 1888-11-03
EUREKA Gov. zIaIss COMPANY
Reports of tho President and SIN.
perfntendent.

perintendsnt.
Following are the reports Of the Presi
dent and superint ndent Of the Eureks
Con. Mining Company, submitted at .heii
yearly meeting Of stockholders. which
took place IN San Francisco on the 18th
Inst:
PRESIDENTS REPORT.
To the Stockholders Of the Eureka Con.
Mining Company-Gentlemen: The de-
tailed statement OF the operations OF this
company during the fiscal year, Is exhibit.
sd IN the reports Of the Secretary and Su.
perintendent. As you will observe there.
from, the showing made Is very satisfac.
tory. Although the management has been
the chosen target for many unjust and
malicious attacks, the yield from the com.
psny's mines and speiss has enabled them
to disburse among the stockholders nine (9)
dividends, ~aggregating one hundred and
twelve thousand five hundred (S112, 500
dollars, during the past year. In addition
they have succeeded in adjusting and com.
promieing several expensive lawsuits
| against the company. We were In hopes
OF continuing the monthly dividends, but
having run into a low grade of speiss the
net yield proved insufficient; however, a
better quality OF this material may soon be
hoped for.
Over six thousand $1,000 tons Of ore
have been extracted from the mine dur
ing the year, largely from the X X find,
mentioned in the Superintendent report.
An unusually good showing may be ex-
pected in the future.
We cannot hope to End any large ore
deposits without exploring below the water
line, to do so requires q large expendi.
ture. and in this we should have the CO.
operation of cur ~neighbors, the Richmond
Mining Company. Both mines would be
equally benefited and each should contrib
ute half the expense. / recommend
that we confer with the officers Of the Rich.
mond Mining Company, and urge them to
unite with us in pumping the water
through our new shaft, the LOGAN. Mean
while and until we nave made satisfactory
arrangements, we should abandon the idea
Of pumping and sinking.
1t Is reported that several suits have
been brought against this company; thus
far no papers have been served on US and
we have no official knowledge OF them, but
will be prepared, when called upon, to
meet them, having familiarized ourselves
with the claims. II Is the opinion Of our
counsel that these suits cannot be success
fully maintained against US. / refer to a
tiIcdtcucu SUIT ny Tue OOttIuIltUt ioT tit
alleged cutting of timbers upon the public
lands, and a suit for the sale Of the speiss
dump by Kleupfer Bros.
Much annoyance was caused by the theft
Of our late Secretary, H.. X. p. Hutton, as
well as those by Charles W. Ladd at our
refinery In Eureka. The loss to the COM
pany by the latter's peculations, have been
materially reduced, as we succeeded in re-
covering some five thousand $4,000 dol
lars thereof.
/ am pleased to advise you that our
present employees are efficient aud capable.
The outlook for the coming year is good,
and will, / trust, prove so to all stockhold-
era. Respectfully submitted,
WV. FRIES, President.
N. b.. Since writing the above, papers
in the Kleupfer suit have been served.
sUPRRIsTENDRSr's REPORT.
EUREKA, New, Oct. z, 1888.
To the President and Trustees Of the Eu-
reka Con. Mining Company-Gentlsmen
During the past year there has been re-
duced in the ~company's furnaces:
-Four thousand and ~eighty-fve tons com
ore, 1,439 tons tribute ore, 5,205
tons custom ore, $3.50 tons speiss. S,l73
tons matte.
Eleven hundred and ffty-seven feet Of
have been made. In January last q
body Of ore was found between the second
and third levels Of the X X from which,
and the Champion and Marcelins ground,
all the ore extracted in the past year
has been taken. There is about the same
amount of ore in sight now as at the be-
Of the year. 1t has been esti-
mated that 40, 600 tons Of speiss have been
at the furnace assay, value $50 per
ton, of which 20, 900 tons have been re-
at a fair profit, leaving 10000 tons
still in the dump, and 10000 tons matte,
which viii pay for reworking, which, with
the ore that can be extracted from the
mine. and custom ore that may be bought,
will keep the furnaces running proftably
for two years. Respectfully,
HENRY DoNNELLY, Superintendent.