The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1895-03-25
THE ALICE MINE REPORT
Butte'S Big Silver Lode Made NJ Money
Last Year.
AN INCREASE IN DEBT
Not Very Encouraging For the
Stockholders-Wh President
Walker Says of the Future
m of silver Mining.
AN INCREASE IN

Butte, March 24.-The annual reports
! of the president, secretary and superin-
tendent of the Alice Gold and Silver Min
ing company have just been issued.
President Walker in his report says:
J II have the unpleasant duty to perform
| in announcing that the company practi-
cally made no money. In the annual re-
! port OF 1893 | entered into detail in ex-
planning and giving reasons why this
| company or any other silver mining COM
pany. for that matter, could not make
any dividends. Conditions have remained
unchanged, excepting that fine silver has
| deprecated from the average annual
price OF 1898, at which this company's sill
vor was sold, viz, 68a4c. per fine ounce, TO
594c. perfine ounce, the quotation now.
1t has been at or near this figure for sew
eral months past. The average price at
which the company sold their fine silver
in 1891 was 6--6lc. per fine ounce. This
was ellie. per ounce less than the sales
for 1898.
"The total product for 1894. at the old
standard value of Sl.29-29 per fine ounce,
was S45j, 631 ,OS; the discount for the year
was SD, 294.S6; total net product, S224,-
336. D."
The difference between tho indebted
ness on the first of January, 1891, and the
first OF January, 1895, is as follows:
Total Indebtedness on January /, 1894. Sl9,50s II
Total Indebtedness on January /, 1895. 1905 80
Gan TOT the year..............-. ......... 413 81
"In times of such great depression in
the price OF fine silver, and the most ex-
traordinary fall in the price of silver this
year, dividends cannot DO thought Of 1t
is we'll that the company has not gone
deeper in debt. 1t must not be forgotten
that every ton of ore now taken out of the
mines is done at a sacrifice. There is no
way to help il, except to 90 into debt.
Even then a question arises, If the money
could be advantageously borrowed to pay
contingent expenses from year to year
until the RECOMMENDATION of silver, which
must come sooner or later. OF two evils,
the least would seem to be to keep out of
debt by running the plant as heretofore,
II II can hereafter be done at ali.
"lf the future is to be judged by the
past, then silver mining Is doomed to
suffer until an Intelligent and impartial
administration of the affairs of the coun-
Try shall be in the hands of men who will
have foresight sufficient to take care of
the precious metals of this new country
which abeneficent providence has given
Tor ages to come"
4 Secretary l.. ii. Farnsworth reports adj
sditional receipts above bullion. of s., 73i.25
from the sale of town lots. Among the
disbursements of S2,3l4.31 for permanent
improvements. ore extraction and reduc-
dion Sl16.6l6.1S, expense account and
taxes Sd, 1888 93. Total receipts we're $227,-
0TO a..
Superintendent BuZZo reports that no
to Dec. J. ID stamps of the 6)-stamp mill
were used. and after that 10 more were re-
quired owing to the increase of leasers
and greater amount of work day miners.
The men employed were 63 tributers or
ieaseTss, 7S in the mine force, % men in
the mill and - men on the surface. The
water is kept pumped from the 1,0)O-foot
level. TO which point ii has risen from the
h500foot level. The quantity for some
monthspa appears to be quite regular,
showing neither increase nor decrease.
Two tinibermen are kept regularly en-
ployed. Castings and machinery to the
value of Sf,530.12 and supplies valued at
81, sl6.1 are on hand.