The morning call., 1893-07-21

Milling Company Sc per ton for reducing II :
50912 tons OF ore. or S105,057.
On July %, 1892. NJ. w. Fox wrote the d.
rectors OF the Savage Mining Company Offering
10 crush the ore of that company for So 80 per
ton. and guaranteeing 10 return the company
not less than 50 per cent OF the car sample
assay value OF all ore crushed. The sam
pie value of The II, 5091a tons Of ore yielded by
the Savage mine during The time mrntIOD ed
was S424,2 ,22S 10. Sixty-ive per cent of this Is
S275.7 74S 81. AS the returns made by the Ne
vada mill are but S2OS, ,334 % there Is a loss IN
bullion OF S7413 81.
There has been paid to the Nevada m i'll for
milling 17.5091a tons. at So pef ton. SlO5,057.
Uttder the offer made by M. w. Fox for Ihe
milling OF this same rock the cost would have
been S61.2S3 25, showing a loss TO the COM
pany of S43,773 75, and. including the bullion.
making a total loss OF SOL 1877 81 To the CO m
pany.
The value of the II ,5091a tons at the mine,
as shown by the car sample value sworn 10 by
the Superintendent was S424. 22S 19. For this
they received from The Nevada mill bullion
amounting TO S268. 1874 90. From this there Is
| deducted: Discount on silver. SCI .425- al
cost OF assays, S3347 70: milling, SlO5, ,057 ;
making total OF Sl75.S3U Is. Leaving for the
company S92 5O4 81 out of S424, ,229 0 worth
OF ore.
The mill company received more than the
mining company, aud tie mining company paid
the cost OF extraction.
In view OF this scandalous record of mia
management we demaud that the incoming
board OF directors take Immediate steps 10 re-
cover from lbose who are responsible for his
loss lhe sum OF Sol,lS1 81, as shown, aud fail
ing TO recover the same Shall institute criminal
proceedings against those members of the out
going board who are responsible bv their care
lessneSs, or worse IN permitting this loss TO the
Savage Mining Company. The outgoing board
of directors had their attention called to this
after repeatedly, aud had full notice OF their
fragrant neglect IN the matter of crushing The
aforementioned ore.
We further demand that the salary OF the su-
perintendent be reduced from $4OO per month
TO 5000 per month, and that all other salaries 8
of officials and expenses be reduced 10 meet the
present condition OF miuing. excepting til :,
wages OF those men who actually dig tile ore
out OF the earth.
MINING STOCK ASSOCIATION, by j. II.
Itngman, secretary.
On motion of w. S. Wood, the document
was placed on file.
Mr.. Tingman added that the mill re-
turns for June to the Consolidated Cali
fornia were SLAB per cent of the car
sample assays. while the Nevada mill re-
turns to the Savage Company for that
month were 63. % per cent OF the car
samples. This was difference on the
amount Of Savage ore sent TO the mill OF
$77.124 Go, which Mr.. Tingman charged
went into the tailings and profits OF the
Nevada Mill Company.
After adjournment Of the stockholders
meeting the directors reduced salaries 90
from S400 TO $500; president, $3.50 to S125
secretary, $3.50 to S125; clerk at Virginia
Office. $500 to $780,
Mr.. Tinglnan said afterward that any
stockhclder can now bring criminal pro-
ceeolngs against the directors on account
OIL ihe company's loss, bu: it Is not certain
that any such step will be taken.