The chronicle=news., 1912-11-07
NINE
YIELDS $4,000
DURING THE YEAR

the annual meeting OF STATIONS lu-
dependence lLimItedJ WAS held at
Salisbury house. when the yearly re-
port from the mines and mill at Vic
tor. In the Cripple Greek district Of
Colorado. Z. =. A.. was read. favor.
ably commented upon and referred
back 10 the board OF directors. 20
that the recommendations contained
therein. signed by Philip ArKall. the
general manager and consulting en-
Hineer. may lie carried out In the
operation OF the property. whici has
this year paid $4,000 In dividends
upon a capitalization OF 4G.O0O.OOO.
This IL 20 per cent upon III. face
value OF the shares The first diyi-
iend for the new fiscal year. $780,
900. was declared today. II ix payable
November ..
According TO the text OF the report
superintendent Erie Johnson has
again done famousiy with the mine.
the gross production OF which. dur
Ing the fiscal year. amounted to
$505.3ls.36. Superintendent A. ".
Mines has well maintained the mill
Ing end OF the business. with a turn
over during the eleven months the
mill was In operation. OF ll:.3si
tons OF low grade ore average 3;.iO
per ton. from which n Kross produce
tion OF &:52.G5S.9: was extracted. at
q milling cost of Si.:7 per ton. Min
Ing the ore In the dump and deliver
Ing II In the mill cost 3O.09a per ton
and treating the concentrates 3O.i37
making u total cost OF Sl.ac per ton
made by Philip Aixall In March.
l9o7t based. however. on treating
10000 tons per month Owing to the
ircexup last winter. tn. mill averaE-
cd but s.336 tons per month. and 70
the estimate OF five years ago. that
10 many Wis" ones snid would never
be realized. has heon not only horne
out by results. but shown to be con-
ser, ,ative.
THE production OF Strutton's In
dependence mine has now reached
S:i.S:o.5S:. The total gross produc.
t!on Ct mine and mill for tho fiscal
year amounted to S76S.s77J&. The
esrninss reached Si7t.5il.3s. OF
which 1a3.0SS came from the mill.
After writing Off substantial
amount 10, depreciation OF the plant
in accordance with tho usual British
practice. = net profit u Si<5.3&G.23l
w1x carried forward.
Two 10 per cent dividsnda were
puid during the fiscal year and an
interim dividend os 10 per cent de-
'cisred At the meeting. payable No
vembcr ..
From tho yearly report. rs check
cd up by the London auditors. II IL
asc~rtaincd that the output OF orc
from Leases show considerable fall
Ing Off nv compared with the year
previous. while the output from
company operations exceeds that OF
amy year since tn" leasing system
discovery In October. 1911. OF . new
vein system. known as the MIL
veins" During the fiscal year un-
der notice thosO veins produced ore
worth $4,000 gross value. and they
are yet producing. The net value OF
the mine production for the year
reada $39s. .+65.33. compared with
$685. .0OS O5 for the previous fiscal
year. Ore produced bl leasers fell
from 33Si.:iG.ls In l9lO-l9li. to
&?s0.5:a.7G in the past fiscal year.
while ore produced by company
showed a total OF SS1.l5s.l4 In the
present fiscal year. compared with
$eS.1S9.72 IN the fiscal year pre-
ceding. Mill output also gained In
value. the total for the present year
reading 320C7si.A3. compared with
$s,5O..16 In 1911.
| After accounting for the shipment
OF 1858 tons OF ore from surface and
dump. the report states that the sur
face workings tdiscovcred In l9O9)
are practically exhausted OF high
grade material. It continues:
There are hut two leases now be-
ing operated. yet We expect q small
production OF high -gradc ore will be
made throughout the year. The fu-
ture production. however. will be
chiefly from low-grade ore. during
the extraction OF which small veins
OF hish.Srade ore will doubtless be-
met with