Mohave County miner and our mineral wealth., 1920-06-05
UNITED EASTERN
 REPORT FOR 1919

The United Eastern has just issued it's annual report covering the year 1919, which shows important develop ments in the mine,as we'll as increas- ing the mill tonnage. The report of LA. Burgess, general manager, goes into detail, but the important matter to the shareholders and the public is the saving of values in the mill and the betterment of the grade of reserve ores.
 The report states that "in 1918 the mine produced 90,949 tons of ore. In 1919 the mine production was 97,325 tons. Operations during the months of August and September were much interfered with by a strike instigated by the I. w. w. The average value per ton of ore treated was $23.16 in 1918 and s2O.s7 in 1919. The average recovery for 1918 was 96.95% of the value, and for 1919, 96.999t.
 "Some Changes have been effected in the mill, which has increased it's capacity to daily average of 325 tons of ore.
 "Tt had been hoped that our costs for 1919 would not exceed those of 1918, but notwithstanding the efforts ofMr. Burgess and his staff, the 1919 figures show an increase. MT. Bur- gess, in his report, explains quite full ly the various factors which resulted in this increase. Had we been able to operate at the same cost for labor and supplies as prevailed in 1915, our costs would have been $6.63 per ton, and this amount includes S1 per ton for taxes. The only satisfaction in the contemplation of these figures is the knowledge that other companies have had about the same average per centages of increase and in many cas- es considerably greater. It is be- lleved that the peak has been reached in the cost of labor and supplies, and efforts will not be spared to improve the present low standard of efficiency of labor.
 "ln 1917 your company paid taxes in Arizona to the amount of S15,S0O.21. In 1918 the assessment valuation was raised; to an amount which required the payment of $63.570.72 to the state. In 1919 further increase was made which requires the payment of $9O,- 692.01 for that year. The method of taxing mining properties in Arizona is arbitrary and seems negotiable and illopical.
 "The federal tax for 1918 was de- termined bv the company officials to be S3S,5O4.16. For the year 1919 the figures are not yet completed. but the amount of the tax will probably be somewhat less.
 "1n 1919 your company made ten monthly distributions to stockholders, those for January and February being each for five cents per share and for the eight months following at the rate of seven cents per share total of siXty-six cents per share for the year and a total of $899, ,58O.O0 for the r. 363,OO shares outstanding. The dis tributions made by the company since it commenced production in 1917 up to January 1, 1920, amount to $2,153,- 540.00. It was decided to make quar- terly distributions after the monthly distribution made in October, 1919, and the first quarterly distribution under this plan was paid on January 2S, 1920, and amounted to twenty-one cents per share.
 "In accordance with our under standing of the income tax laws and regulations 379S of the 66 cents per share distributed in 1919 has been ap- portioned as being dividends and 63% | as being return of capital
 "The general managers estimate of assured ore reserves as of January 1, 1920, is 269,207 tons having a gross value of S6,000,S2O.O0 and an average of $22.29 per ton, as compared with estimate of assured ore reserves Jan uary 1, 1919, of 265, 1863 tons having a gross value of s6,467, ,OO5."
 The report goes on to say that all |