The DeLamar nugget. [volume] (DeLamar, Idaho) 1891-1900, 1894-07-21
The DeLamar Company's Share.
holders Meeting.

! The NUGGET has gust received copy
OF the London Mining World contain
| ing the report of the third annual gen
eral meeting of the shareholders OF the
DeLamar Mining Company, Limited.
The Chairmans address is an interest.
| ing one, reviewing in detail the annual
report of the manager and congratulate
ing the shareholders that under the low
price of silver the company has been
able to disburse to them dividends
amounting to 25 per cent of the capital
stock as against 224 per cent last year
and l74 per cent the year before.
We copy the following from the ad-
dress for the interest in showing what
bearing the price of silver has on the
profits from the mine.
"As to silver, perhaps one may ven
ture to say that it has probably done US
all the harm it is likely to do, and that
future changes in value are more likely
to be to our advantage than the reverse.
Some of you may recollect that at our
last meeting took the liberty of point
ing out that, in my Judgment, greater
fall than was almost ceiyable, while
seriously affecting our profits, would be
very far from wiping us out. Well,
gentlemen, we have sesn half of that
almost inconceivable fall an accom-
pished fact; but instead of the IL per
cent dividend which the basis then
mentioned foreshadowed, We have paid
you 25 per cent. Please observe we
claim no crediU for the result bui hav-
ing perhaps got down TO bed rock, as re-
CARDS silver values, it ia permissible, or
at least pleasing, to contemplate what a
recovery in the white metal would do
for Us. Well, gentlemen, every ad-
vance of one penny per ounce In silver
is equivalent, on our last YEARS. produce
tion, to 203l. per mouth, or In round
figures nearly 3000l. per annum but
pray do not forget. if you watch the pro-
gress of the mine from this standpoint,
that the present price in New York is 7
to below the average price obtained
last year, SO that we have lee way of
loss to make up before counting gains.
My own impression is, as last year, that
if the powers that be wonld only leave
silver alone it would gradually find it's
level probably, think, somew what above
the figure at which il now stands. But
as it has suffered in the west from the
attempt, happily unsuccessful, to force
its acceptance where not wanted or re-
quired, 80 since we last met it has suf-
fered and still suffers in the east from
the effect to restrict it's use where it is
wanted, and chaos at present seems the
only resnlt OF these doubtless we'll
meaning but futile efforts. When cur
rency professors and doctors, and quacks
the ignorant but suffering lsyman to in
trude. One can only hope that at some
early date the poor patient may be left
alone, and then, and not till then, some
towards normal health may be |
fairly and confidently looked for"
The Charman's address was closed by |
his proposing vote of thanks to the
and staff, as follows:
THE CHAIRMAN: Now, gentlemen,
would like to ask you to cordially join
n passing the next resolution: "That
a cordial vote Of thanks be accorded by
his meeting to Captain j. w. Plummer
and his staff at the mine for the very
able and successful manner in which
he company's affairs in Idaho have
been administered during the past year,
md also to Mr.. Pakeman and his staff in
London for their services during the
ame period.n think it is particularly
graceful that we should pass this vote
If thanks to Captain Plummer and his
taft at the present time. He has been
n ill-health, suffering from influenza, |.
md when / visited the mine, WAS
very much struck with bis appearance.
Happily his visit of two months to
California has done him great deal of
,ood. He writes MS that he has almost
covered his normal health and vigor.
During his acsence the heads of the de-
.artments carried on all the work just
8 if he were there, acting, Of course,
nder his directions before leaving,
nd also being in frequent telegraphic
correspondence with him and he tes-
fled on his return that the work had
one on in an admirable way. 1, there
ore, think we may heartily pass this
'ote of thanks, congratulating Captain
hummer upon his manner in which the
taft looked after the company's affairs
uring his absence. (Cheers.) AS for (
Ir. Pakeman-I do not want to say
ouch in his presence but we all know
hat an able secretary he makes, how {
cry courteous he is 10 visitors, and also ,
ow cordially he agrees with the board.
Cbeers.) l Ihope you will pass This vote
Mr.. ]. g. Smith seconded the motion, '
hich was carried admist applause. 1
|