Weekly journal-miner., 1919-02-26
J. V. \. EARNED THREE MILLION LAST YEAR

Showing gross income of over $15,- 100000 and net earnings of $3,331,O0 the annual statement of the United Verde Extension Mining Co. distrib- uted to local stockholders, sums up many improvements at the mine.
 Oddly enough, the statement de- votes a section to expressing the thanks of the directors to the work ing men for their loyal and hard workout then, the statement was made up as of December 31, and was printed before the trouble arose that resulted in closing the mine and shelter.
 In part, the statement says:
 Shelter and Converter Plant:-The most important event of the year was the completion of our new smelter. This plant was put in operation in tthe month of July and is now treat ing all the ores produced by the com pany's mine. Since starting opera tions we have treated 7l,257 tons of our own ore, which produced 23,22o,- 335 pounds of copper, 2,431 ounces of gold, and 279,414 ounces of silver. an average per ton of 326 pounds oi copper, 0341 ounces of gold, and 3.92 ounces of Silver.
 We. also treated 3,435 tons of cus- tom ore, which produced 292,951 pounds of copper, 59 ounces of gold, and 4,657 ounces of silver.
 Prior to starting of operations at our own shelter, we shipped during the year to the different custom smelters 62,277 tons of ore, details of which are shown under head of pro- duction.
 The plant is a model one in every particular, equipped with the every modern improvement and capable of the most economical operation, hay ing a capacity of approximately 1000 tons daily. It was designed by MT A. c. McGregor' and staff of Warren. Arizona-Mr. T A. Stiles was super of construction, assisted by MT. Barry Hogarty, who is now su- perintendent of the plant.
 We had on hand January 1, 1918, 2O,86O,622 pounds of copper represent ed by ore in transit, bullion in tran sit, and bullion in process of refining. This amount added to our production for the fiscal year makes total of 8, ,110,9l6 pounds; of this amount we have sold 54,126,1O7 pounds, at an average price of 24145 cents per pound.
 Mine: - Underground development work done during the year amounted to 10919 feet, consisting of 1,593. feet of drifts, 1880 feet of raises, 3O1 feet of shaft, and 7,155 feet of haulage tunnel.
 No prospecting work has been done and no new ore body has been de- Development work will be in an active manner on the completion of the Audrey shaft. During the year this shaft has been and completed to the 400 level and is in operation to that depth Further, 1t has been sunk to the 1,700 level with a good stump in the bottom. The cutting of a pump station and ore pockets for the shaft is now in progress. Preparation for concreting the lower 300 feet has been made and it is expected that this work will be completed by April lst. when drifts will be started on the 1,500, 1,600 and 1 zoo levels, and it will be necessary to drift a distance of about 900 feet to get under the ore body.
 As the result of increased knowl- edge of the ore body and because of the ability to handle the lower grade ores at a profit at the smelter, the methods of mining have been in- proved New systems of stoping are resulting in the safety of the ore body itself and the lowering of costs.
 New Buildings:-T Little Daisy notel, located in close proximity to the mine, has been completed and comfortable quarters for about eighty of our employees, and is a desirable and attractive feature of our surface equipment.
 Plans for the new town to be built near the smelter have been completed and grading of the streets have been commenced. Construction of houses will be started at an early date. An ice plant with capacity of 20 tons a day has been constructed and put in operation.