The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1898-03-10
THE ALICE MEETING.
The Affairs of the Company In a
1877 Prosperous Condition.

The directors of the Alice Mining
company of this city, but operating at
Vaudeville. Mont. held their regular
monthly meeting yesterday, at which
matters of importance were discussed,
the subject of a dividend for Msrch
being one of them, but it was decided
to defer consideration and action on
this question until a later date
Another topic, and pleasing one at
that, was the news just received from
the mine relative TO the recent strike
on the 200 level in the Alice claim, con-
sisting of a five-foot body OF ore which
assays 200 ounces silver and $50 in
gold to the ton.
The annual report of the company
for the year 1897, published in pam
phlet form, was furnished the board
for distribution among the stockhoid-
ers of the company. This is compre-
hensive document the pith of Which
is contained in the presidents report,
which reads as follows:
81 present you herewith the report Of
the secretary. showing the franc al
condition of the company; also the re-
port of the superintendent. giving in
detail what has been done az the &C M
pany's property.
1.-The year, considering everything,
was a fairly prosperous one TO the
compar- We had to deal with L very
Tow price on silver bullion; the average
price at which silver bars sold on the
market was 1914 per iga ounce. being
.06-497 per fine ounce lower nan the
average price realized in 1896.
THE receipts from the she IF hull
lion and ore amounted TO 1853 ,474.47.
''I am pleased to state hat the cCm-
panys mines and mills are in food
condition. A great deal OF work was
done in the mines to keep the sa ne in
N1,a / Ii
was kept running continuously, in CT
der to keep the water down TO the
/ 000-foot level.
1.-THE 6O-stamp mill was run through
out the year. except for stoppages for
necessary repairs. etc. The hosting
works OF the Alice mine. also the Mag
ma Charta and Blue Wing, were kept
in operation nearly the entire year.
The Magma Charta, Magnolia and Pay
master mines were run only a part of
the time.
THE company commenced prospect
ing last year on a limited scale; the
same will be followed up as much as
possible the present year, with q view
of making further developments. We
are running power drills on a moderate
scale, so as to be as conservative as
possible in the expenditure of money.
I'VE shall endeavor 10 save money
this year in the workings of the. prop
cry. II II IS Impossible TO do so, it
win be ON account of the depreciation
in the price of silver l trust. how
ever. that silver viii maintain a fair
price. Fortunately we were able TO find
coaSiderab bic ore Of a better grade than
usual, which helped greatly to make
the dividends of the past year.
For the information of stockholders.
] have attached to this report a state
ment of dividends paid from the com
mencement, amounting to $1,055. 900:
also statement showing the discount on
silver, amounting to SO. $50. 7S7 As. cover
ing the same period. In this connection.
] would state that the discount on sill
yer for the year 1897 is the largest for
any one year in the history of the
company.
The company has a balance of cash
on hand Jan. l, 1898, OF. $25. 116.I7.
Il trust that the present year will
show satisfactory returns, but it is i'm
possible to predict what can be done. |
The company will, however. DO its best !
TO make good showing. The stock
holders can be assured that everything |
viii be attended to that win conserve |
their best interests. 1t must he borne !
in mind that we are governed by the /
quality OF the silver ore found ard the
price 81. silver on the market
on Sunday next the board OF dire tors |
viii leave for WalkerVille for the pur-
pose OF making It's annual inspection I
of The mine and mills of the company