was held at the office of the Secre! Mestre. Dryadulo, Ringer & Ca., 7, kiang Rond, on Friday, Mr. J. Bf. itingor There was a large attendance, REPORT, In issuing their Report and the Accounts for Season 1886, the Directors have more agerecable task than they lind last yo they congratulate shareholders upon th factory nature of the results shown.
The Total amount ed for Oro mined by the Company and Leases was $304,127.90, $127,169.46. aa shown in Working Account, rich the Company's, proportion was Out of dition to paying off 810,000 adrauces made in the previous yer to defray current expe ig the winter mont] Mr. Waters has remitted to the Company here $70,000, besides keeping " balance in hand of over $9,000 for work during the winter.
On the 20th October 1886 " dividend of Tls. 10 per share was declared, and on the Lith January of this further divide ing Tis, 42,000. There fo stil left in hand of Tls. 5 per share, payments obs
for division over Tls. 15,000, out of whick the Directora recommend a final dividend of Ti, 5 per share, thus giving a return of 20 per cent for the year.
Working Account calls for but little remark, It will, however, be of intereat to point out that the expenses at the Mine, as showa in the Account, are only 44 per cent of the total returns for the year, as against 80 per cent in the previous year.
The total shipments of Ore and Concentrates were 1,213 Tons, against 1,024 in 1885, Capital Account shows a trifling debit balance. The balance of Tis, 3,098.47 carried forward from Jaat year has been use for the building of an office at Telluride, and for the
Text read from the printed page and cleaned; old type leaves the occasional error.