The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1906-02-20
DAILY WEST HOLDS
ANNUAL MEETING
Stockholders Famous Mine Meet
at Denver and Receive
Annual Reports.
WORK CONFINED TO
THE UPPER LEVELS
Ontario Disaster Prevented the
Company From Making the
Showing Desired.

ON Monday afternoon in Denver oc-
! CURED the annual stockholders meeting OF
the DAILY West Mining company. at which
| were submitted the reports OF General
Manager Ernest Bamberger and tho sec
retarys report also. While the affairs OF
the DAILY West company during the year
1905 were hardly to the entire satisfaction
OF the management. the results OF the
years work were excellent under tho cir
cGmstanccs. the trouble not arising from
any Inherent defect in the mine itself, but
through very unfortunate set OF circum-
stances which could not well have been
forescen and guarded against
Effect Of Tunnel Disaster.
The management had hoped that the
year 1890 would sec the low-leVel water
question satisfactorily solved through the
operation Of the Ontario drain tunnel. Had
this been successfully attained the results
OF the DAILY West comDany's operations
would certainly have swelled the dividend
record for the year just ended Between
the two levels, the 155o-foot and 210O-foot
level the management confidently antici-
patcd the opening up OF immense ore
bodies. but the Ontario tunnel disaster
prevented the contamination OF these
hopes during 1905.
Work on Upper Levels.
When, however. the company Is enabled
TO take advantage or tho Ontario tunnel
these Idle resources Will be converted into
enormous sources of revenue, and all that
the shareholders have right To look for
ward 10 VIII be attained. The work upon
the property was necessarily confined to
the higher levels of the mine, and In spite
OF this fact the company has paid huge
dividends during the year.
Large Dividends Paid.
In spite OF the cavlng in OF the drain
tunnel, and In spite OF the distribution of
the sum of S452, 600 dividends during 1905.
the surplus of the company has had a
steady and healthy growth. The high prices
pald lor metals contributed not n little
TO both the more energetic production OF
the mine. and the value of this production
IL is thought that with the clearing
VIII make an Important addition TO It's
mill. looking forward to the better ham
ding OF the zinc product
Production of Metals in 1905.
During the year the company produced
1851 dry tons OF crude ore, which brought
S5iO' i5I so 1884 dry tons OF concentrates,
which brought 1888, ,0S9 81; 20l7 dry tons of
400 crude. equalling the sum of $40 lSl 81;
41e dry tons OF crude ore bringing sill,
Ts7a The production OF the metals was
as follows; Pounds copper l.26.7Sl
pounds lead. 16,729s7 ounces OF gold
1855 ounces silver, 1,7se,Sz8 pounds
In the sum OF sl,2Si. 49, II. This brings tho
entire metallic output of the mine since
lts organization up TO the great sum OF
slO, lSS.S1eS and the total dividends TO
date are s5.O67Ooo
The Financial Statement.
The financial statement OF the secretary
SHOWS cash balance on hand December
81, 1865 OF All .Ss616 To this sum are |
added the sums In tax reserve account and |
insurance reserve account, which bring
the total amount on hand to s424 0S4.6 IS