The Butte inter mountain. [volume] (Butte, Mont.) 1901-1912, 1901-08-24
ANNUAL REPORT
Of B. { N. CO.
MANAGER KLEPETKO'S YEARLY
Statement SHOWS UP
WELL.
Review Of Construction Work and 0p-
erations for the Year-Improve~
ments Made and Changes Con-
templated-Graceful Thanks to
Fellow ofhcers-Report Of
Directors Show Pros
porous Conditions.

That the mines of the Boston & Mon
tana company are good providers of that
which maketh the mare go is evidenced
by the report of General Manager
Klepetko for last year made to the pres
ident and directors of the company In
the repor. Mr.. klspetko says:
Regardless of the fact that extrac-
ton this year has been the largest in
the history of the mines, the ore re-
serves have been increased by zoe, 900
tons and aggregated January /, 1901 o.
100000 tons.
Having the requisite capacity to treat
low grade ores, and the price Of copper
being at a point to allow the mining Of
these low grade ores profitably, it is
the intention to make our product, as
far as possible. from these lower grade
ores, reserving the higher grade ores for
future mining and treatment. when the
price of copper may not be so fav0ra BILE.
The hosting engine at the Mountain
View is getting too small for the work
and we must therefore order a new and
larger one-an engine capable Of hoist
ing from depth Of at least $500 feet.
A part Of the construction incident to
the installing of this engine will prob
| now ready to install the new pump at
| the Leonard mine. This pump viii have
a maximum capacity Of 1900 gallons per
minute.
THE construction work at Great Falls.
which was started in the fall OF 1899.
with view of increasing the capacity
of the plant. has been pushed vigorously
| throughout the year.
1.-The work is nearly finished in all de-
| partments and We are now ready to treat
! 1000 tons Of concentrating ore, and from
| 800 to 400 tons of smelling ore, daily.
When everything is finished, we will have
| nearly double the former capacity Of
| the plant.
This year. besides finishing work AL
ready laid out. we must install engines
and boiler plants, to supplement toa cer-
tain extent our water power. We in
tend to install engines to drive our con-
centrators, blast-furnace blowers and
electric power generators. This will
amount to about 5000 engine horse
power. We expect to have this installed
| by August. This has been necessita ted
by our experience last summer and this
| winter. Shortage of snow and rain fall
during the past year made the, water
| very low in all Montana streams and
| rivers, and has occasioned, in our case
actual stoppage in certain parts of our
plant for days at a time, on account of
lack of water to drive the machinery
The installation of the supplemental
steam plants will obviate such occasional
stOppages in the future. should there be
repetition of such climatic conditions.
Our costs this year. as heretofore
have been very satisfactory. We wish
to mention especially the calcinins cost.
=, faL
furnaces, as modified by ourselves, to less
than one-third of the Brueckner cost.
"In conclusion I wish to thank all my
fellow officers, employees of yours, who
have co-operated with me in the sman-
agement Of your properties, and to
whom, in the greatest extent. the ex-
cellent results obtained are DUE
Report Of the Directors.
The report of the directors shows that
during last year the total receipts of
the company were $1s,242 1864, all from
the output of copper, silver, gold and
bluestone. The net income aggregated
So. 161. 383.99, and the total expenses, $5,-
049,74.4e. These expenses were divided
as follows: At Great Falls and Butte,
including the electrolytic refining, s4,-
21, 1854: handling copper, such as
freight copper charges and commissions,
$780,. 82862. The interest on the bonded
debt amounted to $42. S04.54 less interest
receipts of $11.336.35. For bonds which
matured February !. 1900, $4s.0S9.31, and
for special construction at Great Falls,
$1,093, 513.H, making total of 81, 141, 602. p.
leaving $7,019, 1927 applicable to divi-
dends. Dividends paid during the year,
$43 per share. a total of $6,450.000. Sur
plus for the year. 1858 1927. Balance of
assets at the end of the year 1899, $685. =
091.64. and at the end of 1900. s.. 665, 1872. 81.
The dividends paid were 81 per share
greater than during the previous year.
The bonded debt was reduced from $73s-
600 to 100000. which Indebtedness will
mature 100000 annually beginning No
vember /, 1902.
The assets were as follows:
Cash on accounts receivable
at Boston, and copper. silver,
gold and bluestone sold but
| not paid for. 81, 630, 304 a
Cash and accounts receivable
| at Butte. Observation-Disclosures. 2S,110. Is
Supplies on hand at Butte..... 1877 ,s26. 81
Cash and accounts receivable
at Great Falls. 1851 a
Supplies on hand at Great
Falls ........................ 1884 a
Total assets. Sc, 212, e87 II
The liabilities were:
Accounts payable at Bos-
| ton ............ ..............$ 1ZI.20z2s
Accounts payable at Butte.... 206.845.4s
Accounts payable at Great
Falls ........................ n1,717.ll
Accrued interest on bonded
debt ACKNOWLEDGEMENTS. 1000 OF