Bisbee daily review., 1909-05-11
ANNUAL REPORT 0F LUCKY
 TIGER
General Operating Statement Shows Net Gain of $374,- 134.28 for the Year-Prop- erty and Improvement.


 The annual report for 1908 of the Lucky Tiger Comblnat on God Mining company tEl Tigre) has been issued and copies of 1t have been received in this city. The printed statement Is of four sheets and the matter on each sheet is thus summarized by Joseph OConnor the auditor:
 Kansas City, Mo. March IT. 1909.
 MT. E. C. Sooy. President. Kansas City. Mo. Dear Sir: I beg to hand you herewith annual statements or the operations of "The Lucky Tiger Combination Gold Mining company for the year 1908. which also cm brace those of The Tigre Mining Company, Socieday Anomina."
 While the two companies are sep arate and distinct organizations m every way, each having a complete set of records independent of. but interlocking with, the other, the Lucky Tiger is the parent company and the sole owner of the stock of the T'sre company, which operates the property The results are arrived at by combining the operations of botE companies as one.
 The statements are expressed i1 terms of United States gold through out and consist of four sheets, as follows:
 Sheet 1.-General operating state ment, showing net gain of s374 4,134.2S for the year. Of this amount, s145.- 175.72 is applicable to the first half and s22S,95S.56 to the second half of the year. as during the first period the concentrating mill was still in process of reconstruction and the out put of concentrates very small.
 Sheet 2.-Starting with net profits as per general operating statement, this sheet shows receipts from other sources and disposition of the total. It will be seen that 1,500 was paid in dividends, s60,233.69 expended on improvements and the companys lia- bilities reduced s324 ,994,. of which s229 700 was devoted to the purchase and retirement of bonds.
 According to the terms of the mort gage we are compelled to provide for the extinguishment of the bonds at fixed rates per month, either by pur- chase in the open market or by the deposit of a sinking fund for their redemption. so that at maturity, all bonds will either have been cancelled, or their payment provided for by such sinking fund.
 By the purchase and cancellation of s229,700 of the original issue of $400 900, we have not only fulfilled our requirements to December 31, 1908, but anticipated them eleven months. Incidentally, since the date of the statements December 31. aanrnrlnd bonds in the additional sum of s46.000, thus reducing the outstand- ing issue to SPA 300, and anticipating our requirements to April 15, 1910.
 Sheet 3.-General balance sheet. shows present condition of the com pany. It will be noted that the min ing property and permanent improve ments represent an investment of s1,- 575.659.65; and that the total proht made by the company since its organ ization is SLOPE, ,62574, of which s71 800 has been paid in dividends, leaving S1.O01, ,l25.74 undivided prof Is on December 31. 1908. The com pany has quick assets of s17s, ,1S2.52, consisting Of cash resources convert ible into cash. and current liabilities of S55.251.53, or s122,930.99 cash sur plus 10 take care of current dividends or the retirement of bonds. This does not take into consideration the stocks of merchandise and mining supplies an hand. Si23.930.13.
 Sheet f.-Statement of high grade shipping ore and concentrates pro- duced, since formation of company in 1 1903 10 date, showing 10,112 tons Of product shipped. containing 30,422 | ounces of gold and 3,096,OSS ounces of silver, and having a gross value l of s2,234. .30S.32; also III tons of product on hand, having a gross val ue Of s31 1,10216. making total pro l duction of high grade ore and con- centrates since formation of company to date, 10,233 tons, gross value, s2,- 55,4l0.4S. Yours very truly, JOSEPH O'CONNOR, Auditor. The statement of the development work in the mine for 1908 Is also l given. The amount of drifting done | was 4944.6 feet: Of raising, 1921 2 feet, of winzing, 543.5: of crosscut- ting, 616.7. The prospecting done con- sisted of 365.5 feet of drifting and 1884 feet of crosscutting. The grand | total of development and prospecting for the year, then, is 10.23O.4 feet. The total development from the be- ginning of operations to December 31, | 1908, Is as follows: Drifting. l5,720; 1 crosscutting. 5040: raising and wing ing. 5S3s; total, 26.59S feet. Dividends paid 10 December 31. 1908, are here given:
 August 10, 1908. dividend No 1, two per cent, s13.00O.
 September 10, 1908. dividend No. 2, two per cent, s1S,000
 October 10, 1908. dividend No. 3. | two per cent, sl3.000.
 November 10, 1908. dividend No. 4, J two per cent, s13.00O.
 | December 10, 1908, dividend No. 5,