The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1924-02-07
REPORT CALEDONIA
FOR THE PAST YEAR
PROFIT OVER $4,000
Large Cash Surplus Remark
able Record of This Rich
and Famous Mine
PROFIT OVER $4,000

VIZ N-@ALlLAAJOANA<A N1AAAAA5 NOAAA-
pany continues to earn a sub
stantial profit, although the
mine itself has ceased to be pro-
ductive and the management finds no
encouragement in it's prolonged eff
forts to find new ore body. But the
old stope filling has proved to be
valuable asset of the company and
during the past year has provided ma
terial for treatment by the Taunton
process which averaged Gil per cent
lead and 1913 ounces in silver, and
from which was derived a net profit
for the year 1928 of $5O,SS9.19. The
Caledonia was in some respects the
most remarkable mine in the Occur
dAlene district. It's outstanding fea-
ture was the high silver content of
the ore, and in it's early history it
made shipments which have never
been equalled in value by any other
mine of the district. This value was
chiefly in silver The ore also carried
a high percentage of lead, and in ad-
dition to this it also contained copper
TO an extent that made a substantial
addition to the smelter returns, some
thing that never occurred in connec-
ton with shipments from any other
silver-lead mine in the district. The
Caledonia has paid in dividends S4,-
SS2,S6S. In 1917 the dividend peak was
reached, when the company paid $751;
500. The year before it paid $911,750
and in 1918 it paid $SS5,7OO. These
high figures reflect war prices for lead
and silver The last year in which
the company paid dividends was 1921
when s240,91S was disbursed. The
company now has a cash surplus of
1874. S6O.52 which is being held pend
ing final adjustment of federal taxes
The report Of Stanly A. Easton. pres
ident of the Caledonia company, for
the year 1928. follows:
Operations During the Year.
Il am submitting to you the &C
companying statement of the opera
tions of your company for the calen-
dar year 1928 and financial statement
as of December 81, 1928.
1T will be noted that our produc-
ton. which came entirely from the re-
covering of old stope filing left by
former operators, resulted in larger
yield Of such material than during the
former year, and with the better met
al prices received gave for the year
substantial Increased profit. 1t is I'M
possible to predict just what can be
done during the current year from the
sources which yielded this material,
as its occurrence and value are irreg-
Mar and we do not have definite in
formation with respect to its probable
extent. It hardly can be expected that
the 1928 production can be duplicated
or increased during 1924, but enough
certainly can be reclaimed to care for
all current expense. No new ore has
been discovered since my last state
ment TO YOU, and 1 regret there is no
reason for hoping that such can De
done.
Progress is being made on the ad-
iustment of amounts due the govern
ment for federal income and excess
profits taxes and it is possible that
during the current year a final settle
ment can be made but because Of the
uncertainty I am unable to say when
and in what amount the disbursement
of the company's remaining assets can
be made to you in the form of final
dividend"
Financial Statement.
Cash in banks ...--.-----.---...--.-.-S fS'oos'oo
Liberty bonds ...........-........--- SOO,OOV'OV
Treasury saving certificates S40'OO
Total ....sS76, 2O5.5S
less current accounts .......... 1886
s,,rplus .ss74ssO52
Production and Operating Costs
Total dry tons, 6166S2
75S,472 lbs lead ...-.-....-.....-.-..S 5l'6zz'tl
117,990.72 ozs. silver ---.-....----- SS'soS'o4
25O617 lbs. copper --........--...- Soo'oS
Gross value bullion ........s1S5'sS6'6S
Less shelter deductions ...... 5S'Ss7'os
Net value bullion ....-..-.-.-S S2'OSS'O9
Mining and shipping costs Sl'l4s'so
Profit ...............s 5O,SS9.1s
Old Dominion.
The Day interests have taken an