The Arizona sentinel., 1891-03-14

J semblage like this one, accustomed to facts and figures, will perceive that We shall soon be handling a large amount of profit, say, to be- gin with minimum of 10000 lbs a year, after paying debenture in teEest and al! expenses at home and abroad, and you will ask, you are indeed met here today, expect- ! ing to hear what we are going to do with this sun. Well, gentlemen, my answer to that important ques- ton will be this: The last clause in our report tells you the board have under consideration projects for largely increasing both the mining and milling capacity. To do this, we must necessarily indent upon some portion of that 10000 pounds, but, probably, not to a very large extent. We must also avoid the terrible mistake of not keeping we'll ahead with our de- velopment work.
 FUTURE PLANS.
 What inroads i'll our net earn ings these plans and provisions for the future will make I cannot pre- cisely calculate today, but I will go this far and say, that whatever the balance may be it will go as dividend to the share capital, and it will probably mean 30 or 40 per cent per annum to begin with to the lucky purchasers of our shares at their presnt ridiculous price. But whatever your board resolves to do in this important matter, will be done with the utmost re- gard to your interests, and at the end of the present quarter we hope to be in position to tell you what we have done, and how much we can allocate as an interim dividend upon your shares. That, gentle men, is how the matter stands at the present moment, and it is oc- cupying the most careful atten- ton of the board.
 do not wish to conclude my remarks gentlemen, without ex- pressing the thanks which we feel here to the staff at the mines, to whose experience and economical working our success is so largely due. Whatever your directors may decide upon doing ip the future, we feel satisfied that there are brains at the mines, together with honesty and energy, to carry out our instructions and attain complete success. l now beg to move the reception of the annual report, and the adoption of the statement of accounts, inviting, any discussion and enquiries which the shareholders present may think proper to introduce. Cheers ]
 The chairman here invited the fullest discussion.
 A shareholder: Is Mir. Fletcher an Englishman CT an American?
 The chairman. An American.
 Mir. Winchester: 1 have very much pleasure in seconding the adoption of the report.
 Carried unanimously.
 The chairman. The next point is the appointment of auditors, and of those we have we can only speak in the highest terms.
 On the motion of MT. Reece, Messls. Monkhouse, Goddard & Co.,, were unanimously reelected.
 A GOOD TELEGRAM.
 The chairman: I have pleasure in reading to you the last telegram from the mines. 1 was expecting some gentleman to rise and ask questions, but failing that 1 will read this telegram, which deals with the output for the last IQ0nth:--
 Shipped bullion amounting to Sil 300; for the month of January it amounted to 21,60Q; for the whole month, total amount crush ed, 2,884 tons. The mill has run 29 days during January. Reunited to the bank the amount which Is $21, ,600." (Cheers.")
 A shareholder: That is not equel to the 60,0O0 pounds per an mum you mentioned.
 The chairman: It does not ip- clude the full cleanup. This tele gram came within two days of the end of the month and the whole could not be included, so that, if anything, it will be oyer rather than under the average. It is quite keeping up the monthly average which amounts to 6O,OOO pounds gross per annum. We shall be glad to hear criticisms fav- orable to our report or hostile. (After a pause.) I have simply to thank you for your presence and to tell you must candidly that
 FEEL VERY SANGUINE
 about the future of this mining property. It is a low grade ore mine, and we have apparently any quantity of stuff which we hope to work diligently, and to strike every