You are aware that, in the district in which the mine is situated, the question of the excessive inflow ai water must be dealt with. At present our pumping installation is bringing to the surface a minimum of four million tons of water annually. It must be obvious to you, gentlemen, that every additional month we can keep the shafts and drifts dry is of the greatest importance to the prosperity of the company, therefore your directors are of the opinion that it is in the best interests of the company to make every effort, within reason, to combat this water difficulty, and have decided to provide an extra eight. units -of electrically driven turbine pumps, which it is estimated by our engineers should make it possible. to maintain an all the year round production, at least from the higher levels. This new installation will mean a capital expenditure of about "£8,000, equivalent at exchange of 84. to approximately $233,000.
Continuation of Coal Seams During the year under review, through the good offices of Dr. H. Foster Bain, formerly Chief of the United States Bureau of Mines, and now Adviser to. the Philippines Bureau of Mines, the services of a lon Z/-N highly qualified geologist, Mr. Russell C. Fleming, B.Sc, were lent to the Stock prices advanced today from one to three points to the best levels 4 [recorded since March 30 and under the heaviest trading witnessed since April 12. Bonds and commodities joined the upward movement. Brokers
sentiment prospects or the. Eu to. a better a and Soviet agreement off.
eopieltin over the Danzig Chosen Corp.
Benin syndicate Pekin ligate Gi ibl a Benen Rubber Manila Gold Shares (Bids in Pesos) sedit to the continuation of certain coal seams from the present workings to the northern area of the concession.
Mr. Fleming now recommends that 3 to 5 deep borings, and the continuation of the north tock drift to a minimum distance of 1,000 metres, be "to 110% 15 ers of one bonus share for every five shares held. This would naturally obviate the necessity of making appropriations, for this purpose, from the company's future profits,
Text read from the printed page and cleaned; old type leaves the occasional error.