The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-02-15

Financial Statement Shows That
5000, 900 of 100000 Bond
Issue Was Used.
COMPANY EARNING MONEY
AMERICAN SHELTERS TO BUILD
PLANT ON THE COAST.

The annual report OF the Daly-Judge
Mining company for the fiscal year
ending Jan. l, and printed in pamphlet
form, was mailed to shareholders of
record on the books of the company
yesterday afternoon, while George w.
Lanbourne, secretary and treasurer,
took the noon train for the east for the
purpose of attending the annual meet
ing, which occurs in Jersey City, n. ],
on the 21st.
In the financial statement submitted
by Secretary LambOurne it is shown
that S84, 600 worth OF bonds were sold
during the year. This, with the S125000
worth previously marketed, running the
total amount of bonded Indebtedness up
TO $209 900, or S91, 900 less than the
amount authorized over two years ago.
The total receipts from all sources dur
ing the year, including Sc, 4S017 from z.
+. Holmes on Anchor purchase &C
count; $19112.32 from the sale of zinc
middlings and a bank OverdTaft of ST.
976.6S on the first Of the present year,
was S131 ,569.17.
Treasury Boasts Surplus.
While there was considerable crude
ore and concentrates in the market that
had been settled for when the report
was closed Jan. 81, President John J.
Days report shows that the bank over
draft had been wiped out and that the
treasury contained a cash balance of
over $4,000. Before taking the train
yesterday Secretary Lambourne ex-
planned further that while the January
payroll had to be met out Of the SIS, 900,
the ore then in transit and unsOld would
more than meet the deficiency created
in the surplus, so that the statement
that the treasury held SIS, 900 was con-
fiyCf n
month, the mill has been running
through from $50 to 10 tons of ore per
day, while q considerable tonnage of
crude ore has been coming direct from
the mine to market. Everything is now
running quite smoothly at both mine
and mill and, by the time the next an
nual statement is submitted, there will
be much better story to tell.
Manager John J. Daly's report COW
eTs, in a genera way, what has been
done at the property during the two
years cessation of production and mill
operation. but as Herald readers are
already familiar with the mines devel-
Opment, it will be unnecessary to dwell
upon it at this time. A number of the
closing paragraphs of the report, how
ever, cover matters not previously Civ
en- to the public, so they are repro
duced, as follows.
During the year we have sold many
tons OF our ZlnC n1QCllngS, some or
which were sold at a nominal figure for
experimental purposes. We are now,
however shipping and selling from
thirty-fiVe TO forty tons per day of this
product on an assay basis, the net re-
turns from which are very satisfactory,
ranging from IS to So per ton. We have
Of this product an estimated tonnage of
from 1900 to $4,000 tons in the old
dumps, while the mill will continue to
make this class of product as opera
lions progress
Favorable Smelling Contracts.
Owing to the keen competition
among the various smelling companies
for ores and concentrates Of the charac-
ter produced by your properties, it
should be mentioned here that we have
been able to make contracts for the
sale Of both crude ore and concentrates
that are very advantageous to the COM
pany and a great deal better than any
thing ii was possible to obtain under
conditions prevailing only a, few years
ago As the prices of the mtals are
also better now than they have been
for years, the mines product is CORE
spondingly more valuable.
Finally, I will say that the mine is
now in excellent condition for produc-
ton, and will be for a long time to
come. I feel that the outlook for the
future is bright, while the possibilities
of the tremendous area OF mineral bear
ing ground that still remains to be ex-
plOred gives promise of proving as val
III af NJ ton, hot