CEliTTEAL AND EASTERN 1^^EYADA. 363 



We have, in this case, an expense, per ton, for mining, of $50 44; and 

 for prospecting, an expense, per ton of ore produced from the mine, equal to 

 $24 61 ; making a total of $75. 



If, to the actual mining costs given above, amounting to $45 per ton in 

 1867, and to $50 44 per ton in 1868, the costs of milling, averaging $35 per 

 ton, be added, it will be readily seen that the ore must yield, at least, $80 or 

 $85 per ton in order to meet the expense of extraction and reduction alone, 

 without allowing anything for extraordinary outlay in prospecting, amounting, 

 as we have seen, in 1868, to $24 61 per ton, or for the other expenses of the 

 business, such as general improvements, repairs, and incidentals; since the 

 figures above given include nothing but expenses actually incurred in extract- 

 ing the ore from the mine and treating it in the mill. 



The nature and amount of other expenses may be shown by the follow- 

 ing " Statement of Earnings," taken from the company's pubhshed report for 

 the year ending December 31, 1868: 



Ores from Eorth Star, or Manliattan mine, l,954iai4 tons, 



producing $290, 227 79 



Mining expenses $148, 269 89 



Milling expenses 77, 932 73 



226, 202 62 



Net profit on company's ores $64, 025 17 



Profit on working custom ores in mill : 



3,4431^ §f tons, producing 912, 954 47 



MiUing expenses 135, 342 05 



777, 612 42 



Cost of same, returned to customer 864, 310 87 



Less custom price for milling 156, 109 87 



708, 201 00 



Net profit on custom ores 69, 411 42 



Eoyalty on ores worked by other parties 9, 311 88 



Eents. . - 157 00 



Premiums on bullion 23, 188 74 



Premiums on drafts on New York 7, 075 13 



173, 169 34 



