their motive power. The absolute running time for the year (ending November, 

 1855) was nine months and twenty days. 



The cash capital invested in the beginning of operations in 1854, was $11,000, 

 about $7,000 of which was expended in the erection of their mill, and the balance 

 in opening the lode and the construction of conveniences to convey their ores to 

 the reduction works. 



The amount of work done upon the lode within the year, will perhaps convey 

 a better idea of the activity with which the work has been prosecuted than any 

 other means that could be adopted. 



The lode has been opened and is in good workable condition for more than two 

 hundred feet and at an average depth of nearly sixteen fathoms for the above 

 length below the surface. Near the center of the lode one thirteen-fathom shaft 

 has been sunk and is used at the present for bringing the ores from the upper 

 galleries to the surface. 



From the west side of the hill an adit has been driven to intersect the lode on 

 a line with the main shaft, and which cuts the lode at twenty fathoms from the 

 surface. 



From the entrance of the adit to the reduction works a train road has been 

 carried on the side of the hill, about five hundred feet in length, which is now 

 used for the delivery of all the ores of the mine ; this has been constructed during 

 the past year at an outlay of $4,500. 



During the month of December the company were engaged in erecting more 

 effective machinery for the purpose of amalgamation, at an expense of about 

 $3,500. This is a judicious movement, as it is most evident that a serious loss of 

 metal has been sustained during the past year's operations. 



At the end of the year, terminating the 29th September, 1855, the company had 

 declared six dividends, above all current and incidental expenses, and above original 

 capital investment during the following months. The dividends are on forty-five 

 shares : 



Per share. Net receipts. 



March 31st $25 00 $1,125 00 



May 26th 60 00 2,700 00 



June 30th 100 00 4,500 00 



July 28th 20 00 900 00 



August 25th 40 00 1,800 00 



Sept. 29th 25 00 1,125 00 



The following is the statement of operations at this mine for the past year and 

 its present condition. 



RECAPITULATION. 



Tuns. 



Amount of ore reduced per month 164 



Aggregate for nine months 1,524 



Average value per tun $25 00 



Aggregate yield for 1,524 tuns . 39,778 61 



Current monthly expenses 1,650 00 



Aggregate of monthly expenses 14,850 00 



Net profits 24,928 61 



