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Cot.osaoo Sretscs, Cot.o.,
<br />~gt~ /)(r,,;ars and Stockholders of fanuan' 3t, u~t.l.
<br />/j.inEl_LA r11NES CO.i1P:1,V1-:
<br />I icy :Lat there is eery little for me to add to the reports tchich are presented at this uteeting.
<br />uve to sac :i::~t especially in the matter of the keeping of accounts. the imprucentents tchich have Leer
<br />;;,tJe refit i ':~:uerial cable to the Company in the future, both a: reganls ecouont}' and acettrtec.
<br />I r.°' that it is nothing more than right that your aucmion should be dratcn to the matter that
<br />)Ir.l"rl'r'. , i~o I Wray call the f\ssistanl Superintendent, hay I:ecn a tttu;t etticien[ ~~tiicer and ha; sh:,tcn
<br />~rcat c;q,;,b..:ics in taking care of the stores and supplies ui the lompan}', and that outside ui this, he
<br />~~. rcmlrr~ ' nuts[ material value in the capacity of sun•cc:.r. \\'hile there is eery nwdt tc::rk cct n, be
<br />~t. ;,l„ti_ is line, the work that he has done has more ih;m compcnsatctl ns n:r the s:dary paid.
<br />1 -L : I eery nmch like to have Leon able to report nn~re [cork dour up:m comp:uty account. but
<br />officer of .hc Conn acing t~~ t'' c fact that it was absolutely necessary th;tt >:: much utuuec should be spent in cleaning up
<br />;hc old drip.- :uv! assisting the lessees in doing dceclopntcnt tcorl:, sour l'umpanr did nut base the
<br />L'mrrl of Itirector,. ,net. t„ .chat may have Ueen considered :ulcisaLle decclopnu•nt [cork. Sutticicnt it is to say that
<br />neh:n'c ::' . t' last ttvo months, drifted a rlistancc of t_; icrt on the touter Ilat coin. •CLis is :t strung
<br />ductiou• i:;:tc hcc;t ~'~i'-''~'I "'- 1 feet wide. The distance driven <u far is in:nletlnate to reach the c~tcnsion of the me
<br />ring in mu',I that r i""nd °° ~ " hint level. In addition to this, t.; reef has Let•n ilricen m eery hard but iacortble innna-
<br />nen in the Iz, ~ I:abbit territory front the third Iccel of the I•:mpire. in hitherto undcecloped uxuun•. Un
<br />of mentioned in the :fie ninth ~ r ' aunt level of the Empire shah, the Gunp'up decelnpntent work, which teas conunenccd
<br />nine munil,-. t:•r'n n> ;' ~ :ante was accessible by reason of recession of tearer. has opened up an ore shoot from
<br />ni!idi orr ',::~.- nursed on IIIC seventh and eighth lcccls ah:rcc. .\t the present time, the drift and raise on
<br />;,t nh;;h '~. is in granite breccia, assacing imm $~.tHt b. Si _.t>,t per ton.
<br />S;•;n.o, flr.- ::ar coot Company a'as embarrassc~l hr an unu>ual :unount of atriacc tearer, nut Dole dc-
<br />it-;~, rile .: rl; of the ]cssets, pret•cntittg the proper sonin~ :unl screening ui the urc, bttt also render-
<br />ic, inarcc--ilJc the lower lcccls oC the thine fur a longer period tha^ uacil. -hhen ;main, uc base the
<br />.. Stuo.o ~ i::r:, a .c•, out in the Secretary's report, that irum c:m*cs entirclc otu of our control, tee lust alntust
<br />=c,n.tr, •it ¢cck• ~ i pn::luctinn, which of necessity limited our :unount of earning-.
<br />.. ta-,oo hi pa--inf. 1 may ntcntion that tcc h:n•c utadc matcri;d s;n inks u. the Cu np:utc in the fete nunuhs
<br />is Which nt !:ace been in charge. Ly reason ui installing the >tcnch :n the I':ngtitr :bait. be the ererti~.u
<br />I "" , cri
<br />~a nrm ,~;c i,:n.. Lc settling the old late suit ag:un.t the l'ontpauc for d:unages, he a m:urrial rcdurtion
<br />•r:e°~•Ir n~u~p!t•~cd nn the cost ni liability insur;un•c, Lc nnnbniii~~ the ~~,`kc .I~~n..kccpcr amt surcccor
<br />hunkkcepn!, :a rile I::! ~.zri~~:;" Daher n;n•s not necessarc to ntcntion.
<br />I . ;:! ~ nrlc in Xoccntber until alter thc• clnsc of the ns.r. ~,I~t r:,uou.:u the mint recce ntatcriallt•
<br />..
<br />... :.~'n :,: ~-! i~a~ a long tints cumplctclc svgqu ~l, In' rca>on, in the tir~t iu<t:utrc. ~,i n scriou< I:uul slide
<br />I'..lnhnr. \lini:,~ r r., : , !. :.n:l he the rcducti:~n plant. being slwrt ~~i r~~ai ~ni ^rn~t!m ~~i iL•r ~vil:e.:ut~l ::I~o I~r :ni
<br />! to Ihi<. t!v~ i::ree>: ~.....,.,.~.~!,..,•"'. ~notc sU:nn tvhieh entnpletelc Lbn~k;nlc:l the raiinrul.:un1 nnn'e e.p,rialle thr stcitche:
<br />.. C::I' Iii"
<br />I pro: ~cstcm oi.accounts, which gttt•, the tiu:mrial n•<ult: m a eery r~ntcrc :unl condensed
<br />tht• sh:gn -i u~ni~ .... r, 'I -:,. ~ r~ nisideraLle o0ire labor itt the htttn'e. Une ihiu~ rriuain, vet to be :lone, ;unl Ihat is the
<br />th:u the In~~,~,rtt ;. ',.' i :~ I,~o:c.lcaf srstcm fur the stoeklutLlcr, accounts, thus making another nnttcrial s:ning in
<br />litun•> in.- •::~I:r.d I i ~,::tilc concur with the nmarhs of the Supcrintcndcitt :n L. ihr gcncrd .....I feeling anal co
<br />mac Lr r ,,i~ ~ l: lnis c~isted upon the part ai all garlic. rourcrncd, tcitli a :Icsire to hcnclit Ihr propcrlc.
<br />~~~~~'~.~~'~~.>.!~,. I :~in ~orrc that Letter exsh in hand re.nlts c:uuu^ be ,borer, •hhr rrasom :ur utainlt• evident
<br />`' :' t•.!>.• ' L:•cn st:ued before, but there is sill :nudhcr rr;nou tchirli i~ clod to the inlurc of the Isa
<br />::ci ~, : ml that is, ii the mine w;tS to have :utv fronts. the nwncc that tea. mvle Irotu rocaltic; hail
<br />: ~,I in the intpmecntcnt and dcvcloputcnt ..f the proprrtc it~cli. amt that i. the main rc;rvon
<br />:'' , m~~r~, n n: c is not rnt hand at thts date.
<br />~. ~ ~ ^ I ,;i 1, in a~sttre you th:d A1r. ?tiitchcll, your tiupt•rintcu:lrnt. La. l~rotcn hint<cli to he a wo,t
<br />'~~"', ~N ..~~..~.. :ompctent nfticCr in evCry u•ay. Qc.puc the fart of criltri~m; by Iho.,• mt~ompcletu to jnd;;c.
<br />Prr,i'n:!. ; 'I ... •,~n a prnpLet as to vcL•at the canting ecar trill Irving i~nth, .\II I c;ut +ac i. that it the s:une
<br />,,.,n~.:a: r~ mlcrtYl to the Crnnpany as trace Ltrn rendered iu the past trar, the •iorl:hoLlcr: trill get
<br />!~.~~..,. b~ithiul :uul intelligent run (ur their nmucc, \lorr th:ni ibis no slorlan~lder c:m posihlt
<br />~...~,.i
<br />I.e~pcctiully suLnunctl•
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