Bisbee daily review., 1908-05-05


General Expense" $7,S53.49, would
show that the property practically
made net earning of 100000 Tor
the year, not taking into considera-
ton interest on bonds or litigation
expense The apparent heavy cost
per ton, namely s70.SS, fo- mining is
explained by the fact that the cost
of mining carries the expense Of ex-
tracing 13,4S7 tons Of crude ore
put through the mill. All develop
ment work amounting to s43.SS0.2S
is also included in this item, and
the actual effective tonnage of ship
ping ore, 1853 tons. is made to bear
the entire expense.
Sheet 2-Shows changes in re-
sources and liabilities during the
year. The salient point of this
sheet is that of the net operating
profits as per sheet l, namely
1888, 662.43, the sum of $115,51851
was expended for improvements. and
$500 for payment on la Espeula"
| claim, or a total of $116,01S.51 put
back into the property, leaving a
balance of 1857 1882, which might
be considered applicable to the pay
ment of dividends or the retirement
d bonds.
Sheet 3-Shows the standing Of
| the combined companies as OF Ue-
cember 81, and indicates that, after
having paid all the litigation ex-
| penses TO that date, namely $751;
94112, the companies still have a
net undivided profit of s54S5 964.3$.
Sheets and Show the separate
standing of The Lucky Tigre-Com
bination Gold Mining company and
The Tigre Mining company. S. A, re
| spectively. A comparison of the
| two will show the intercompany bal
| ance, that is, that the amount due
by the Tigre Company TO the Lucky
Tiger Company is $1,217, 337.6S, a1Iu
| that ne combined undivided profits
of both companies equal the amount
indicated on the general balance
sheet. According to the method OF
buying the ore from the Tigre com.
pany at cost and allowing tina:
company per cent commission on
all operating expenses the Lucky
Tiger company shows undivided
profits of $510,072.3S, and the Tigre
company 36,S91.95; thus the Lucky
Tiger Company is the proft-making
institution and in the event Of a div.
dend being declared that company
by its records will be empowered to
declare such dividend without any
reference TO the Tigre Company
whatever.
Sheet els a more or less con
densed record of the receipts and
disbursements of the combined com
panies from their organization TO De
eember 81, 1907.
Sheet 7-Ore produceda nd ship
ped during year 1907, giving in de
tail the snelter value of each cal
together with the deductions on &C
count off reight and duties.
Sheet S--Smelter value of concen
trates produced and shipped during
year: also recapitulation of both ore
and concentrates for year. the fina
totals agreeing with the general op
Grating statement.
Sheet S-Total ore \ and concen
trates shipped and produced nuI
beginning OF company to DecembeI
81. 1907, together with the average
assays of gold and silver for eacl
year showing total production o
6,GS2 tons of which 6.256 tons con
taining 10 ,e93 ounces OF gold ant
| ,S51,4 etsnces of silver were snip
ped. The gross value of ore an,
concentrates produced to date
81 ,42S, S75.06 and net value S1,308,
1871 after deducting freight ans
| duties.
Since the date of these statements
December 81, 1907, we have colleote,
SIO6, $1,000 on account of notes re
! ceivable and cancelled $92, 800.et
/ out standing bonds This. reduces oul
notes receivable to $2i, 10000, ana
reduces our outstanding bond issu,
to 1901, 200.
We have also paid of $4,000 d
the notes given to D.'J. Haff, thus