The Daily Alaska empire., 1930-03-20
ALASKA JUNEAU REPORT
 CONSERVATIVE.

The annual report of the Alaska Juneau Gold Mining Company made to the stockholders by President F. w Bradley is a splendid account Covering as it does the condition of the industry that forms the backbone of Juneaus prosperity, it deserves close attention from all local residents And inasmuch as the Alaska Juneau operations to- day produce one-half of the gold output of the Territory it is a matter of interest to the entire Territory.
 As was to have been expected of an engineer and business man of MT. Bradley's high standing it is notable for its conservatism Without offend ing anyone violating any of the proprietes, he could have devoted considerable space to the achieve ments of the company and the infinite skill en- gineering genius, painstaking labor and unbounded faith that made them possible Instead in three short paragraphs of a letter he encompassed what was done last year and depicted the promise of prosperous future.
 He wrote.
 At this date the Company has bonds
 outstanding in the amount of $873,000; but
 this years profits should more than retire
 these bonds and thus accumulate some sur
 plus that should justify the commencement
 of dividend payments beginning the second
 quarter of next year
 The average annual net profit of operations, before depletion reduction for the past two years has been about s1 100000 Taking this as a basis for computation by the end of the current year, the company should have surplus of around Sl5O,- 900 after retiring all of it's outstanding bonds. By the beginning of the second quarter of 1881, there should be between $4O0000 and $500000 available for dividend purposes. This is not big sum when the investment is considered, but it is impressive when it is remembered that few years ago. the company was on the wrong side of the ledger at the end of each years operations It is tangible proof that the faith of the Bradley interests in Of placed
 MT Bradeys conservatism is again seen in his detailed statement of capital assets.
 For mining property he has given the sum ot S9431 37O This represents holdings from which last year alone there produced minerals valued at s36 ,247.31. and which there was net profit before depletion, of $l,025,208.43. At that rate it would take but nine years production to return in net the shown by him as the value of the mineral holdings Of course the capita assets other than the minerals also represent cash outlay and must be paid for out of production These are valued at $69l1 46O15, and with the cur rent rate of production and return will be covered in few additional years operations.
 The list of capital assets is impressive. Powe plants worth almost $1,00oOOO; repair shops anC equipment, wharyes and warehouses, dams ant fumes and ditches 9.OOo-ton mill that repre- sents almost s200OOOo in invested capital every thing thet goes into making up a modern abov ground industrial plant more miles of under ground drifts, crosscuts raises, powder drifts sta tions and stopes than there roads in the vi cinity of Juneau.
 Until one analyzes the details of the propertie under the Alaska Juneau management there is tendency to overlook it's magnitude. An analysi of them by the people of Juneau brings nor nearly full realization of what they mean t the town and it's residents and the real reaso why Juneau should be intensely proud of the insti tuition.