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, ~rh
<br />possession ~ of ~ the Chants
<br />idst of the somewhat ez•
<br />conomical working of fht
<br />t the new machinery had
<br />d been done. It u'as th,
<br />old workings. Soon after
<br />n vein, and giving accts
<br />good ~ adz of ore, and
<br />ne and the outlook sufir
<br />share. The first divideuJ
<br />e month. A dividend ai
<br />d the present outlook a;
<br />nd a very ;large amount ai
<br />ent intervals and a largt
<br />ais, gives a very toll anh
<br />fleas great credit on hrih
<br />so far as we can see, is to erect reduction works, either .alone or in connection with some of the
<br />tiguous mines. From present indications, the smaller mines 'df the camp will produce ore enough to
<br />ply the mills at present consttvcted, consequently there is apparently no hope for relief, unless the larger mines
<br />vide -theft own reduction .works.. In view of this fact we, have in contemplation, the' erection of works
<br />ing the coming year, of sufficient capacity to treat all our lower grade of ore. The developments of
<br />past year have disclosed vast quantities of such ore, much of it now blocked out- between the var-
<br />; levels, and besides we have already ten thousand tons or more on the dumps. The known veins on
<br />property wilt undoubtedly furnish all the ore that a mill of ordinary capacity could treat for years
<br />come. It is not proposed to engage in this enterprise until a thorough investigation is made as to
<br />best methods of treatment, and the most advantageous point for its location, nor until the funds on
<br />id warrant the expense without in any way endangering the continuety of the present monthly divi-
<br />It is unnecessary for me to go into details concerning the finances, or as to the workings and
<br />ents at the mine, as all these matters are fully set forth in the General Manager's report.
<br />Very respectfully,
<br />IRVING HOWBERT,
<br />Prestderrt.
<br />GENERAL 1ViANAGER'S REPORT.
<br />out of debt-we have a
<br />plus on hand. Our sur
<br />meat than to taking out
<br />rt of the force was em
<br />policy during the cumin;
<br />k will not be abandonti,
<br />exists is the inability !o
<br />nas mills being Uuilt ~eoul~
<br />ow-grade ore increases in
<br />get all the ore they can
<br />condition speaks exceth~
<br />ruld mine all the o2 in
<br />the 6:~h-urad~ crnd !h;
<br />y reduced. As it is non',
<br />inconvenient to get at,
<br />em.
<br />reatly reduce the average
<br />tt solution of this prob~
<br />!.RIPPLE CREE}:, COIo., May 10, 1891.
<br />To flee Presldetat attd Board of `Directors of T/~e AvzcGorea-Leland M. `r ~I~1. Co.
<br />The first year of active mining and development work, on the part of your company, Itas just
<br />closed. Below will be found a report of the operations for the past year. Accompanying this report
<br />will be found underground maps, showing the various levels, drifts, cross-cuts and raises, and sectional
<br />maps showing the different slopes. Also a report on the financial condition of the company, ore production, etc.
<br />A large amount of money has been expended, during the past year, for permanent buildings, tna-
<br />cltinery, the sinking of main working shaft, etc. Everything has been done in a first-class manner, with
<br />an eye to convenience, affording an economical working of the mine for years to come.
<br />raa .,,;.,a ;~ ;n a ~ntPn~~rt rnnclltinn at the nresent time. with large bodies of ore blocked out
<br />ready for stopirg. The chances are very good for a largely increased ore production, during the coming
<br />year.
<br />All underground work has been carried on under the personal supervision of Mr. Peter Murcray,
<br />and the members of your company are to be congratulated upon securing the services of such a compe-
<br />tent man for superintendent. -.
<br />a r'~~
<br />, t ~
<br />"r€
<br />+, ,
<br />sl'~i ~
<br />ii ~~
<br />i 5 ~.
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