Weekly journal-miner., 1917-02-28
ANNUAL REPORT SHOWS J. '. TX
 SOME MINE
NET EARNINGS OF LITTLE DAISY SEVEN MILLIONS :; NEW ORE BODY IS DE- SCRIBED; INFORMATION ON SHIPPING GIVEN.
(From Sundays Daily.)

nual report Ot directors, copy or which has just been received from New York, where the annual meeting of the company was held this week. | The Little Daisy, by this report, takes rank as the States most phenomenal mine Of the present decade.
 It cost S2,334,7461S to run that mine, which includes operating ex- penses and development, freight, treatment, refining and selling. Other expenses, including taxes paid and accrued, amounted to S270,S0S.55, and amounts written off to reserve and depreciation funds were S500,417.02, making a total of S3,042,97l75.
 The gross value of all ores produc- ed during 1916 was S9,981 ,0723l. De- ducting the expenses, the net earn ings were S6,93S, 10056. Two small dividends, amounting to Sl,05qO00, were paid, leaving a balance to sur plus account of $5,SS8, l0056.
 These mining claims. cost $561 ,o9S; the plant, Sl72,oS6.
 The company has over three million cash in banks, over three and half million dollars worth of bullion in transit and in the hands of selling agents, almost three-quartcrs of million of ore in transit. Its assets are placed at S7,95S,6l3
 The capital stock was only S50,00C, and of that S225,000 is still in the treasury.
 Assets Undergrounds.
 The bulk of the United Verde EX- tensions assets are still underground. Last January another orc body was discovered on the l,400-foot level. having an area on that level of GOOD square feet No development work is now being done, all efforts being di- rccted toward getting out orc while the high prices continue. The United Verde Extension suffers from car shortage, as do other shippers, but is building its own shelter near Clark dale, at the terminus of Santa Fc branch, and it is expected that early in 1918 the company will be smelling its own ores, thereby reducing the cost of production of copper In the meantime, contracts have been made with the Copper Queen, Calumet & Arizona, and Consolidated Arizona Smelling Companies which will take care of the present output.
 Excerpts from the report follow:
 The New Ore Body.
 Between the 400 level and the 1900 level the new orc body has been developed by raises in the ore. Above the 1900 level three raises have been run in the ore. At about 60 feet II. 4f i 2n0 1a,.ot tIa NxfHTznh zone was encountered. We do not look for any considerable amount of ore in this ore body above that point. We are certain of large amount of high grade orc in addition to the 7OO.- 900 tons in sight between the l,3OO and 400 levels. We can conscrvat- ivcly estimate 100000 tons of l6 per cent orc in sight.
 "A winzc has been sunk POO feet below the 1 400 level. After passing through IA feet of Is per cent orc and 46 feet of very low grade orc, at l60 feet it encountered one of the bars of intrusive waste characteristic ot the deposit At the bottom the wlnzc passed out of the intrusive and en- countercd chalcopyritc ore, such as IS found elsewhere in the camp. The winzc was stopped at the l,600 level, and on account of the difficulty of handling the water, no drifts were run from that level.
 Including footagc driven in Jerome Verde ground, the total for the year on all levels is l3,734 feet.
 Shipments For Year.
 ssCI,z,,,a,,ke 4hn lOlhI amount to the total of so, ,l59 dry tons of orc. containing 2,570,525 ounces of gold, l2S,4679l ounces of silver, and 36,402,972 pounds of copper-an aver age of 0032 ounces of gold. l.62 ounces of silver, and 454.1 pounds of copper dry tons of ore (abovc figures for silver and copper representing 99 per cent of total assay contcnts).
 In our last annual report we called your attention to options on ground south and southeast of the company's property. The options have been cX- crciscd, and the claims dccdcd to the company. In addition, nine claims have been purchased. and 2l claims acquired by location. Including the above located claims, the company now has an area of approximately LOO acres. Nineteen claims, containing about three hundred acres, arc still held under option, which will prob ably be exercised within the coming year. The proposed tunnel will strike the mine workings at the 1900 level
 Plans have been prepared for a hospital, which it is proposed to erect immediately
 To improve living conditions for the company'S employees, it is propos- ed to lay out a townsitc on part of the compauy'S property, where cm- ploycs who wish to own their own homes, can build, and where they can live under sanitary conditions.
 The directors are George G. Tcucr, Archibald Douglas. l.. c. Whether. (. F. Sands, IT. K Burcl, George King 1 don, Paul Arnitagc, \. J. Pickrcll, i and J. $. Douglas.