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The Pewabic Consolidated Gold 1Vlines Company.
<br />Iuwepoeated in Coloeado. '
<br />Treasury, F.,II Paid and Non-
<br />Total Shares 2,000e000, of .which Asse~ss,000 wePae daluelofpSharesr•§lh`
<br />OFFICERS AND DIRECTORS.
<br />JOHN C. FLESCHHUTZ, PRERIDENT, TREARURER AND GENERAL MANAGER.
<br />J. E. DONALDSON, DiREPTDR.
<br />HENRY- HARTMAN, VtcE PRESIDENT. JAS. M. SERIGHT, D[RECTDR.
<br />J. F. McFARLAND, DmecT•oR,
<br />WALTER A. FUNK, SecaETARx.
<br />Authorized Depositories of the Company.
<br />TREASURY TRUST CO., PITTSSURG, Pa.
<br />WASHINGTON NATIONAL BANK, BURGETTSTDWN, Pn.
<br />ROCKY MOUNTAIN NATIONAL BANK, CENTRAL Ctxx, COLO.
<br />FOURTH QUARTERLY REPORT.
<br />Lt the course of the last quarter two difficulties have unexpectedly appeared upon the surface and
<br />6 we cau;e3 u; a considerable lot oC worry and unpleasantness. The first one, while not of any great im-
<br />portance, being a simple misunderstanding of a new law enacted by the last legislature of the State of Colo-
<br />rado, Lanveen the mill labor and the mill operators, caused n emnplete shut-down of all the mills fn the dis-
<br />trict. This, however, has been adjusted in n more or less satisfactory manner behreen the parties concerned,
<br />so that only a loss of time of about ten days was incurred thereby.
<br />The second obstacle has proven to be a more serious one, namely, an unexpected and unusual heavy
<br />(low o(water has forced us to stop all our operations below the zoo foot level and necessitated the continued
<br />u;e o(the hoisting plant Cor the special purpose of hoisting water only, and by the ceaseless battling, day
<br />and viglrt, and day for day, we have brought the water problem again under our control after n lapse of
<br />nearly two months, As is natural, under such conditions, the mine was Rot left iu such shape but that con-
<br />xiderable extra expense was necessary in order to again resume operations.
<br />This above difficulty was a consequence of n long and wet season w•e have experienced this spring,
<br />,w;i nmst b. expected ae a commmr reoccurrence every spring, but shall scarcely cause us like trouble again
<br />n: we are making preparation for the equipping of the Iron Shaft with n Inrge and powerful hoisting plant,
<br />then with both our plants in active operation, the venter question i» fife lower depths of the mines will be
<br />obvintef entirely, because we are Cully prepared for any like emergency that may occur in the future,
<br />The development on the zoodoot level going $nst has resulted iu the connection n•itL cast Pee•nbic
<br />shaft where we Lave found a well defined and prominent vein, independeul of the one wre are working
<br />through the main shaft. 'Chrough [Lis connexion the It ichnrdson vein Las n'so been mode accessible mul
<br />by the explorations of these old working;, we have discovered that there are some Lemdiful bodies of ore
<br />still intact above the zoodaot level, but cannot be made available fur production until the Iran shot[ is nmde
<br />randy far operation. While our productimt has peer considerably curtnilr been nbe to eohen utrnsot rtes fur
<br />count of the difficulties above stated, we hove, however, in the meantime, I I
<br />known to us before, which will in time greatly swell the praduchtg rnpncity of the mines.
<br />'Che Cmnpany Lax, since the last report, enlarged its mineral estate to the extent of z4 ndditlDUal
<br />I~ule claims covering an area of about coo acres. This gmitp of mining claims, is owned by the Canipany
<br />xhnulutely clear and Cree of all ineumbrauce.
<br />During the Ins[ quarter we have mined, shipped and milled zy4 curds of m•e, of which wg cords have
<br />b:cn milled iu custom milli, before we had nssnmed the renlnl mul the Compnny',y otrn nperntimt of the New
<br />Vurk mill, which we believe has been n very jndicimts negnisitinn, becmise, the tail of milling, the mini•
<br />mum rate Laing ~co per cord, by operating our own mill ou our own ores, ix thereby materially lessened.
<br />'I'hc New York mill has [rented i[9 cords nt nn nclunl cos[ to tts of Whoa[ Gg per cent Df tLe trenlment
<br />ch:u'gex whleL we have had to pay nt custom milli. Our mill has n capacity of t 5~~ tons per z.l Lours. We
<br />beep woxt of the time about gD of the yo stumpy employed on oar own ore. G, n(ler the willing cnlculnted
<br />'Che total nhipwmtt of zy4 cords hax re oomrlenr It froutethe tmi~e t t LLeFmill, has beau deducted.
<br />at ;;vo per cord, and the trnnxportatien of »4.5 I
<br />Witt xtill granter t:fforts and closer sorting of the ono ns they are hoisted from the udue, wn expec
<br />doting bnsln•,ttoulr nil It will tbet[nxed+to1itx nGUnsf enpncily by thesxuDply of o nt ofrotMttLe t Pewnbie mtRl Ira t
<br />mines combined, Itespectfnlly suhmitled,
<br />JOHN C, FLESCHHUTZ,
<br />PRRSIDRNT, nRNERAL MANAGER ANP TReAeURRR,
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