The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-08-17
|NTERSTATE-CALLAHAN
NET PROFIT s3,lO0,4sl
ANNUAL REPORT FOR BIG ZINC
COMPANY FOR PAST YEAR.
A FINE SHOWING.


talns a general statement OF the af-
fairs OF the company by President
John A. Perclval, detailed reports by
C. W. Newton, superintendent, and d.
F. Haley, consulting engineer; a COM
plete financial statement for the per-
iod. map of the company's holdings
and Photographic view of the COM
pany's buildings and surface equip
ment. The following extract is taken
from the statement of President Per-
cival:
Earnings.
1.-THE operations of the past year
show total net profit of $3,100,491. %
Adding to this the surplus as OF June
80, 1915, and certain adjustment ac-
counts as per balance sheet enclosed,
makes total surplus of $4,243,458. 32.
Out Of this there were paid dividends
Of 81 per share during the year, maxi
ing total of $3,254,930, and for the
acquisition of new property $181,S17.-
II, leaving a surplus as of June 30,
1916, of $S06,71
Underground Conditions.
AS will be seen from the engin-
GERS report attached hereto, fully as
much ore was placed in sight as was
extracted during the last year; and
this was accomplished without having
to resort to further sinking. but mere
ly by opening up extensions of the
known ore bodies In levels already de-
veloped at the time we submitted to
you our last annual report We have,
therefore, at this time sufficient ore
developed above our level No to in
sure operations for a period of about
three to four years. A new shaft is
being sunk, and within the next two
months the shaft work should be far
enough advanced to permit of our es
tablishing level No. and exploring
our ore body 225 feet below the deep
est workings in existence at this time
This new shaft will place us In a
position to supply our entire mill ton
mage from levels below No. 4. when |
the ore bodies in the upper levels are
exhausted, and will enapie us at the |
same time to carry on that amount of
development work which good mining
practice demands. We are confident
OF the outcome of this development
work"
During the year the company ac-
quired the Nipsic group of claims,
rs acres lying north of the
Observation-Disclosures; also a substan-
tial interest in the Blue Grouse.
Superintendent's Report.
According to the report of Superin-
tendent Newton during the year de-
velopment amounting to 6463 feet was
accomplished and stations and skip
chutes excavated amounting to Al
sss cubic feet, OF the new three-com
partment shaft which viii be the main
working shaft, he says: Sinking was |
started on March 2S Of this year, and |
rom that date to June 30 the shaft |
vas sunk total of $40 feet, making
IN average footage or 81 feet per day.
which Is considered the record In this
district. station will be cut and the
'ein developed at depth of $50 feet
II 200 feet below our present No. 6
evel"
Mine Output.
The total output of the mine during
he year was 12S,6s4 wet tons of ore,
From the tonnage taken from the
nine there were 1924 wet tons of
rude zinc and lead ore sorted from
ne belt and shipped direct, showing g.,
n average assay of 1872 per cent zinc.
he balance of the mine output, 49,
40 wet TONS delivered to the mill.
howed an average assay in silver 26
unces' lead 6.OS per cent, zinc 27.S
er cent and iron SIS per cent. The ,
me was operated S61 days during
ne twelve months period and an ay-
rage OF S42.6 wet tons per day were
Profit With Spelter at Low Price.
The mill was in operation 35l DAYS =
lring the year and including the ;,
'rting plant the average daily out
ut was 1872 tons. The report gives a
detail the condition of the various
wells and in conclusion Mr.. Newton 9
ates that the extension of the In
rstate vein on Nos. 3, 31s, and 6 =
Vels has put as much ore in sight as :,
rs been extracted, and with the OPEN
g of the ore body on No z, which =
III be not later than August Is, and :,
TN the further opening of the ore :.
'dy on No. level 200 feet below "
0. Z, we expect to keep $4,000 tons :,
100000 tons of ore reserves intact.
e have found the ore in the lower
vels to be the same character and :
ually high grade as was developed
owe No. 4. The important feature
our present development is the Il
illness of the ore body, which will
able the company to mine at a pro- ~
even at low spelter market" of
The report Of Mr.. Haley, consult M
engineer, covers in much detail 81 81
activity of the company during bl
. year. sh
O.,
hAT6nr n bn.. a.