The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1909-08-05
REPORT By THE SAILOR CO.
Detailed Statement Of Physical and Fin
ancial Condition Made to Stockholders

At the annual meeting stockholders 81 the Sailor Min
ing company limited held in the companys offices in Wallace
Monday the following directors elected to for the
suing Robert Mccullough Of Tacoma WASH Fred Henso
Topping Of Wallace good representation Of stock present
lat the meeting detailed report dealing with the condition Of
the property submitted by President and Manager Myron
|Toplif This report follows
To the Stockholders Of the Sailor Mining company limited
Gentlemen
as your manager beg submit the following report the
condition Of the companys property
Owing to the non-competion Of the Walace Joe wagon
road the work the property not started
peced Two weeks work started bang out the sha
with the intention Of sinking greater Depth When the
shaft sunk additional and half feet large flow
water encountered that prevented the shaft from being sunk
to greater depth without the use Of pumps and pumping ma
chinery.
It was therefore decided for the present stop sinking and
the face Of the tunnel the hanging
wall and determine the width Of the vein.
Work being prosecuted along these lines It hoped
that the present work will open up the ore shoot Late avces
received from the property shows the face Of the crossut
be in quarzte and looking very favorable.
made surface Improvements in and around the
panys buildings which enable them to be kepin sanitary
condition.
the opinion Of the directors of the company from late
inspection Of the property that the mine should be developed
tematicay and persistenty in all Of which heartily
Yours very truly, 49,
MYRON TOPLIFF,
fFeSlQ0nC MANAGER.
The following report submitted by Secretary H. C. Top
png
Gentlemen:
Herewith beg submit my report secretary Of your
pany from August 1908 up and including this date August
81 1909.
Balance of cash on hand from August g. 1908 $n62o
Received from No. since last report $30660
Received from sale Of treasury stock $500
Received from sale Of supplies $3.50
Total received from all sources $sso1o1
Total Of all monies handled for the year $11O6 sol
Labor supplies advertising and general expenses $sS
Balance on hand at this date $s11s5I
11os.so|
Balance shares in treasury August g. 1909 29a6o0l
Number Of shares returned to treasury from delinquent
Total 4R4sl|
Number Of shares treasury stock sold - 1000
Number Of shares in treasury August 1909 4444o4|
During the year every condition pertaining to the laws Of
state Of Idaho governing corporations have been met by this
poration and carried out to the letter.
The secretary has all times been prompt in answering
respondence Of stockholders and has given detailed information
all times the best of his knowledge The secretary believes
this time that the books Of the company accurate
The secretary has nothing suggest that will aid in the
of the company except that the by laws Of the
changed read that the annual meeting the stockholders be
held at the hour Of 7:30 p. m instead Of 10 q.
Respectfully submitted n
H. G. TOPPING. Secretary.
The alteration referred above in connection with the hour
IF the annual meeting duly made.
ON THE MINERAL FARM