The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1915-04-08
DIVIDENDS IN
1874 WERE S599,3O5
PAY ON PREFERRED STOCK ONLY
"DETAILS OF PRODUCTION
AVERAGE METAL PRICES.

| According to the report of the Fed
eral Mining & Smelling company tor
the year ending December 81, 1914, the
company paid dividends amounting 10
S. per share on the preferred stock Of
! 1885, or a total Of $599,305. The OPP
Grating profit for the year was $780,
093 and the miscellaneous earnings
were $702, 463, a total of $S91,55 from
which was deducted $94663, leaving
net balance of $796,S93, or $197, 5SS over
and above dividend disbursements.
The surplus on December 81 was ST.,
1888, 613, as against $1,435522 at the end
/ of the previous fiscal period, a decrease
Of $46,909.
The decrease in operating profit and
production is ascribed to suspension Of
the Morning mine at Mullan, Federal's
heaviest producer from May 20 to June
10, and during September, October,
November and December, to the cur
taiment of output at Wardner prop
critics and the reduction in the price Of
i
increase in miscellaneous earnings Is
due largely to dividends Of $567OOO de-
rived from the Greenhill Cleveland
company, operating the Greenhill-
Cleveland properties, in which the
Federal company is half owner.
Ore Production.
The total production of all the prop
critics was 421,631 wet tons of ore, OF
which 21,O91 were shipping grade, and
the mills treated 3S9,45O Dry tons or ar
average of 32454 monthly. There were
produced during the year 57,05S tons
of lead concentrates and shipping ore
averaging 44467 per cent lead and
1901 ounces of silver the ton, and 42OC
tons of zinc shipping ore and concen-
trates, averaging 44.6l per cent zinc
OF the entire output 21,091 tons were
shipped crude, from which smelter re-
turns showed 26.10 to 1920 per cen
lead. or an average of "a per cent. The
Wardner shipments averaged 5l,2O pei
cent lead, and the Morning averaged
1850 per cent. From the Wardnel
properties the product averaged PA
ounces of silver, an increase Of az.
ounces over 1913, and the average Leaf
content was 1912 per cent, an III.
crease of 319 per cent over the previ
, Gus period. The Morning mine pro
, duct averaged 14.69 ounces silver, al
increase of 127 ounces, and the LEAF
! content averaged 44.67 per cent, de
crease of 10 per cent.
The prices during the period, base'
on New York quotations, were from
4762 cents to 1925 cents an ounce 70
silver. an average of $3.50 cents, or 5.J
cents less than in 1913, and the lea
prices ranged from $3.50 to $4.15 tn
100 pounds, averaging $3.S69 the 10
pounds, or 1920 cents the 100 less.
Power From Montana.
. An important item in the report
the statement that contract has bee
:, entered into with the Thompson Fall
. Power company to furnish current fo
! the Federal mines and mills, by whic
), 1t is estimated that a saving Of nc
less than $4,000 annually can b
y effected in operating expenses. TIL
q contract calls for delivery Of currer
about June /, 1915, when the trans
y. mission lines will be completed. TT
q Greenhill Cleveland, Hercules, Tama
, rack and Custer Consolidated and Ir
: terstate- Callahan, according to the re
port, also have contracted with II
:. Thompson Falls company for power.
= In conclusion, the report states thu
N there Is indication of the Greenhil
II Cleveland ore bodies being exhaustt
l. this year, but that in the old FEEDER
Of holdings at Mace, on which operation
l. were suspended when the Greenhil
V. Cleveland consolidation leased Il
" Mace mill, there still remains consi'
,e cradle quantity of low grade ore. In
st proved methods of treatment that ha'
~ been installed in the plant, howev'
l. make 1t possible to handle this at
profit, and It is believed that develo
of ment of UNEMPLOYED parts of the groul
IN will reveal new deposits.