‘"Taxes (including the Marketing Charges of the Royal Canadian Mint) paid, and estimated for the year 1937, to the Dominion, Provincial and Muniâ€" cipal authorities, amounted to $794,â€" 488.43, this beinz over ten per cent. of the gross production. The above figures do not include any of the many forms of indirect taxation. "A list of the securities held by the Company is appended to this "Your directors are pleased to report that the net excess of Current Assets (Bonds and Shares at Market Price) over Current Liabilities (including diviâ€" dends payable January 20th and April 20th, 1938, $1,946,668.00), is the sum of $5,432,529.95. The dividends paid in October, 1937, and declared for January and Aprii, 1938, ie., $2,920,002.00, exâ€" ceed the dividerds paid im October, 1936, and in January and April, 1937, by $1,460,001.00. This more than aszcounts for the réduction in the balance at the credit ¢f the Surplus Account as of 3lst December,. 1937. "Your attcntion is directed to the fact that Mint Charges amounting to $87,474.54 and a donation to the Porcuâ€" pine General Hospital of $25,000 have bein included under "Administrative ury of the Company as : "The Net Cperating deducting taxes. for th» yvear. was "No change has tak authorized Capital Stc pany and 23 686 shar under azreement with Guaranitse Company, 1 for the Company an: these shares are return ury of the Company as "Your Company‘s P fit and Loss Auditors of t port of the C the fiscal yc cember. 1937 Nervous Fears Fear, worry, anxie rest and sleep and Chase‘s Nerve Food help you to win bacl and econfidence., Usei Last Year Satisfactory, â€" | One for the Dome Mines > The annual T Mines Limited ha for the year ending shows a very satisf Proâ€"ident Thire is mutch t Thire is muc! form in the re Mr. J. S. Racshe which is as follc Annual Report Released Toâ€"day. Operating Profit, $4,â€" 658,673. _ Taxes a Tenth of Gross Production. _ Also Satisfactory Report for the Sigma Mines, Quebec, Now on Selfâ€"sustaining Basis. SMITH ELSTON 71 Third Avenue Every Home Needs Hot Water ence. Useit toâ€" Dr. Chase‘s rry, anxiety rob you of leep and health. Dr. rve Food will certainly VISIT OUR SHOWROOMS And nc was $4.658,673.68 â€" Jjust bee Dec. 31st, ctory yeoal s Report 1 K Ma Y the Trusis and imited, in trust dividends on d to the Treasâ€" and when paid. Profit, before + and â€"Income i submit th ind the Pro Ith, vigor lay. ind 31 on in bris > nresxident 1a@areho‘dfr to â€"$794,â€" per cent. The above the many th Plumbing, Heating and Airâ€"Conditioning Tim mins â€" 1¢ Dome I isesued 1937. and Com Mn he 16 siderable ore which | our ore reserves. "The Ankerits. vein Municipal Taxes Insurance Ontaric oxatlons Capxta o en "This has been a splendid start and f 2,825,762.55 | we antizipate a better showing in 1938. Net Cp:rating Profit for the The work has been under the personal CAE .$4,658,673.68 ; supervision of Mr. Jas. G. McCrea, Asâ€" "As mdxcat=d in the fmegoino rezords| sistant General Manazer, and Mr. J. all of the producticn came from above| B. Redpath, Credit is the 15th level. During the year the| due them for the excellent results cbâ€" upper levels and old workinzs were| tained. again combed over for possible core. Gernreral + This resulted in the winning of conâ€" "The shareholders may be interested Opcrating and M@intenance Expenditure o Devflcpment Exploration ....$922,687.23 Mining, includmo hoisting ... 867,842.77 Crushing and Conveying 109,826.38 MININ3 ............ Bullicn Expense es ©£0,029.02 Mint Charges .. 87 ,474.54 Fire Protection 5,914.23 Warchouse Expense 14,001.77 Auditing Exponse 3,056.00 AC‘ninistrative E\q,?rse Mine Office _ 143,963.66 Exesutive Office ... 64,320.12 R:izistrar and Transfer I‘enc, and 17,258.64 Municipal Taxes .__ 25,049.61 "The 576,300 tons of ore milled yieldâ€" ed bullion containing 213,403.188 ounces of gold, the yield being 0.3703 ounces or 7406 dOwt. per ton. "All values of ore, etc., will be exâ€" pressed in pennyweizhts (dwt.) through out this report. One pennyweight equals oneâ€"twentieth of an cunce, Troy weight. "The following ticulars of Revenue,. and iorâ€"the year under review Operating Statementâ€" ended Desemser, 19 Earrings Birllion Production ore whnith was t: 115,000 tons wa brought to the su the cp>n pit. In brouzht to the : year 1937 sideration "During was hoi#‘ â€" in coaunt for the "Your Dire: Clation ci the sory Managor, Mr. J. H General M ope The r H. St A N o air Repor 1 0 sib vil2 SUuri tramimed iT in the winning of tonâ€" which was not shown on il Manazer, Mr. Robert _the operating staff who I General Manager of the general ma: 11 691,900 tons of rock *h 576,300 tons was ‘ed in the mill and wasts whictch was ‘ment gives parâ€" ind Expenditure â€"For the year 1937¢°â€" rd their appre of your Genrer: ivy â€"during ms produced IC0ns At Mr. Stov The new Gurney heaters are made in a great number of sizes and types with 30 gallon, to 380 salion capacity, All modern features in heater construction have been incorporated in them. Grates are designed for use with any fuel. There‘s a model designed to serve you efficiently, and at low cost. Estimates gladly 17,258.64 25,049.61 15,980.49 87 ,474.54 5,914.23 14,001.77 3,056.00 Now, when you are letting your fire down, is the time to install a water heater. ~There is nothing that adds more to comfort and convenience of modern living than plenty of hot water when you want itâ€" and where you want it. We will suggest the best type of heater to suit your indiviâ€" dual needsâ€"whether it be electric or a jacket heater. W a Electric Water Heaters To Suit Every Need ral 1¢ ‘"Durinz the year the ore and waste passes in connection ‘with the shaft were csompletEd and all hoisting is now acne from the 4th and 8th levels. "The total development done during the year was 14,678 feet and diamond drilling was dons to the extent of 19,694 feet. "Since the mill started, back and current interest payments have been met, totalling $73,093.08; the loan has been reduzed by $175,000.00; a dividend cf $30,0€00.09 was paid and Capital Exâ€" penditures totalling $93,033.50 were mad.:. "During the year (9% months) the mill treated 125,407 tons and produced $991,551.098. The total operating costs were $4.83 per ton milled, including interest charges. The cost is lower than it will be under normal operations because of the tonnaze handled from the surface ore dump (41,687 tons) but it indicates that reasonable izsosts will be obtained. The average grade treatâ€" ed was 4.63 dwt. per ton. This was lowered by the inclusion the surface ore dump. It is anticipated that the averagse grade of the mine will be someâ€" what above the grade of 4.92 dwt. per ton which we reported from our samâ€" pling last year. "Durinz the year the ore and waste passes in connection ‘with the shaft were ecsmpletEd and all hoisting is now "The ore reserves are estimated at 2,625,000 tons, an increase of 75,000 tons over last year. sigma Mines (Quebec) Limited "This preporty is now on a selfâ€"susâ€" tainirz basis and has been since the mill started operations cn March 1"7th, 1937. The mill was designed to treat from 300 to 350 tons per day but the tonnag> handled was szradually and steadily increased until in the latter part of July it was brought to 500 tons daily and it has been maintained at that tonnage sincs. This was accomâ€" plished by our staff, acting in consulâ€" tation with Messrs, C. W. Dowsett and Wm. Dunn in the designing of the mill and their further servies in helping us to attain che largost possible daily tonâ€" Gereral s "The shareholders may be interested n the following information : "The plant of the Domse Mines is loâ€" ated about two miles from South Porâ€" 00,059 â€" £ 6.910 19 tons of ore of an average 10 dwt. per ton. The mining on veins was clore above the 10th As work is continued on these their importance becomes more nmore evident. 1e Schumacher area producd 103,â€" ns of an averaze grade of 9.678 per ton. Ore from this area has riéturned in profits approximately â€"~â€"quarters of the purchase price. 1e balance of the mine produced 4 tons of an average grade of given inz the year the mine produced tons of ore, which averaged dwt. per ton. The stopes proâ€" 488,500 torns averaginz 8.21 dwt. 7, and development work proâ€" 87,800 tons averaging 4.14 dwt. wi. per ton. »es not drawn on during the ntain 296,.057 tons of broken ore. Orce Production inz the vear the mine produced Phone 327 THE PORCUP INE ADVANCEB, | â€" Development is planned for Virita | Porcupine Gold Mines, Limited, in | Whitney Township, on recommendaâ€" i tions swbmitted by Lawrence B. Wright, | consulting geologist. The company | proposes carrying out a total of 5,000 | feet of diamond drilling, to consist of | 10 holes. The object of this phase of { the eampaign will be to explore some | interesting values obtained in previous drilling. Sudkury Star:â€"Great Britain is addâ€" ing billicons to the nation‘s arms cOosts, but the people of the "tight little isle" know the programme is necessary if they are to survive, and so they pay the sho:t unflinchingly. Goldale Mines Lrmited Issues Annual Report Development Planned for the Virita Porcupine "Dome employsees actively engage in the following sports: hockey, football, baseball, s¢ftball, curling and skeet shcoting. The Company has provided a football field, tennis courts, a curling rink, an outdcor skating rink and a recreation hall, all of which are conâ€" trolled and operated by employse asâ€" sociations. "In addition to th> school facilities nctsd, organized sport is provided for the children of employees in hockey. football and tennis. Boy Scout and Girl Guide organizations are encourâ€" aged and more important than the above, nearly every son of an employee who has become old enough and has tried for work with the Company has been given employment. At the preâ€" sent moment we have about sixty sons of employees on our payroll. "In conclusion it is again a pleasure to state that the staff at Dome have dene excellent work and my thanks are due to them and to the Board for the wholehsarted support they have given me." "School facilities are excellent. These are handled by the usual Trustee Bcards elected by the ratepayers. A five rcom brick school, located on the proeperty, serves the needs of the 160 schocl pupils. The school authoriâ€" ties provide bus service to take the high school pupils to and from the High School in South Porcupine. . "A store building is provided by the Ccompany but this is run independetly by the Consumers Coâ€"operative Society and this serves the needs of the Dome community for groceries and meats. cupine, a village of about 4500 populaâ€" tion,.. Asout twoâ€"thirds of our employâ€" eeés live in South Porcupine and many ¢f theso cwn their homes there. A good us service is available betwien the two points. "The balance of the employees live on the property in Company houses. Most of the staff and the principal foremen live in houses closs> to the plant, while over eighty families are living in Dome Extension Village, about oneâ€"third mile from the plant. In all, the Company owns 123 houses which are rented at reasonable rents. Most of these are serviced by household water, but drinking water is obtained from wells which are carefully protected and the water from which is regularly tested. The single men living on the property are taken care of in a bunk house and club house. 25 GAMES CHILDREN BINGO Sacred Heart Church Auditorium Worthwhile Prizes EVERY FRIDAY NIGHT 230 Leitch c Liake «:.:.....m... COLQ Little Long LAz ... Macassa ........ MclLeod Cockshutt . McIntyI@ McKenzie Red Lake McVittie Graham . McWatters ............. Mining Corporation Moneta Naybob Nipissing Noranda O‘Brien Omega Pamour Paymaster . Pickle Crow Piong:er Preston Fast D Premier as Read Authier Reno s _ SBan AntoniQ ... Red Lake Go!dshore Sherritt Gordon ... St. Anthony ............ Sullivan Con. sudbury Basin Staqdacona ... Sylivanite ........ in Teck HMizhes ... Toburn | Ventures ... Wright Hargreaves Afton ........ Ashley i. TT CUOL : f Bas> Metals Big Missouri ... Bsatile ......... Bidgood ... ... EralormMis Buffalo Ankerite . Canadian Malartic Castle Tretheway Central Patrizia .. Ccoviagas ..................., ................ Con Chibougamau DParkwater .......... T Fa‘conbridge .. Glenora ... Goldal> Granacda Gunnar ... Hardrcck Hollinzer TiOowey: ............00....0;.. riudson â€"Bay ... International Nickel Jazkson Manion ... Kerr Addison Kirkland Lake ... W. F., Schumacher; Morris, Jeffrey; McDconald, J. F., Schumacher; Masâ€" Donald, J. A.; McDermott, Wm. P.; Mcâ€" Grath, Joé; McIsaac, Jack; McKie, Miss J., Schumacher; McKelvey, Miss Winnifred; MatLean, J. D.; McLaren, Dr. Wm. M., South Porcupine; Murphy, Patrick, South Porcuping. New Ontario Machime Shop; Nora, D. Parfi‘it, Philip O.; Pawlin, Miss Gilâ€" bert; Pilcon, Miss Therese; Prezeau, Raoul. Sandburg, Wm.; Slywchuk, Nicholâ€" 2s; Smith, Leslie; Smith, Dr. R. P., South Porcupinge; Starling, Cyril, South Porcupine; Stenclick, Miss Mary; Stoyâ€" noff, Geo., South Porcupine; Swain, Weir; Swanson, Carl, Schumacher. Turner, Harry. VanRassell, Mrs. Gerald; Vary, R. A. wouth Pcreupine; Veinotts, Mrs. A. Walker, Mrs. J. R.; Wallingford, Geo 5.; Wilstn, T., South Poreupine. Yorke, Mrs. R. E., Schumacher. Kelly, Johm,; Krahana, Alexander; Krasenic, John:; Kyle, J. R. Landers, John A.; Laplante, Rex A.; Larivee, Arthur J.; Latham, Coleman; Leskew, Stephen; Levinson, Uli, South Porcupinge; Lieberman, Jos. W., South Poreupine; Lynch, James P.; Lloyd, Manhire, Edwin; Mason, Geo., Scuth Porcupims; Megill, H. B.; Moisley Ball; Moran, Elmer, Schumacher; Morâ€" gan, Mrs. W., Schumacher; Morgan, Hansen, Wilfred; Hawse Hormby, F. J.; HMHushes, Dr linger Mine, No. 11 Shaft. Elley, Mrs. Lona, Schumachor; Es ther, Style Shop. Farren, W., South Porcupine. Gemmill, Mrs. Roy, South Porcupine Gloster,. Martin. Jarnt, Lauri, South Porstupine; Jopâ€" son, Ggo. Regan, J. L.; Robb, W. G.; Rutherâ€" ford, Burton. Dcemarco, Lillian; Demuynch, Joseph Donberry, Walitor; DesRoches, Gilbert District Services, Packhouse, Richard; Bayns, Herber S.; Brillinzer, Stewart; Burke, M. P. Charlebois, Lionsl J.; Chinn, E. M. Cormier, Joseph; Crocco, T.; Cumming William, South Porcupine. The total received to date is $1955.51 all of which has been duly acknow ledzed. The followinz is the last lis of those centributinz:â€" Arnott, Peter; Archor, John G.; Ashâ€" ton,. J. E.. Schumaecher. will be found ansosther, and probably the concluding list, of those contributing to the Christmas Seals campaign. This campaign, sponsored by the Timmins Lions and the Canaâ€" dian Tuberculosis Association, was conâ€" ducted to raise funds to carty on the fight against tuberculcsis in the Porâ€" cupins camp. Total $1955.51 for Christmas Seals | Toâ€"day‘s Stocks | Another List of Contribuâ€" tors to Christmas Seals Sale. Listed Miss Laura; .. W.; Holâ€" 1.81 48 .00 .20 /4 48.00 50.25 .. 2.9 2 101 12.00 275 237 4.70 4.10 2.85 440 1.50 1.02 19 2J 34 40 In providing this doubleâ€"barrelled service for interpreting and presenting the ambitions. hopes, progress and beâ€" haviour of this new northern empire. the publishers realize that they have one of the most important trusts to The publishers of the twin papers, The News and La Voix, congratulate Editor Daoust for his keen grasp of the local and district tempo that has no parallel in any other community in the dominâ€" ion. La Voix de Val d‘Or is another of the necessary public services required in a community that has such potential possibilities as to be limitless in their extent. La Voix will serve that section of the population throughaqut the disâ€" trict as completely as a weekly journal can under the present circumstances. It will be the voice of the Frenchâ€"Cahâ€" adian population, which in round figures represents 65 per cent. of the community and district. Congratulations were in order from then on and the news of the new French paper spread rapidly throughout the communities of Northwestern Quebec. Telegrams were received on press day frcm associates of Editor Daoust wishâ€" ing him every suzcess in lhis new field of endeavour and locally congratulaâ€" tions and felecitations poured in from the time La Voix de Val d‘Or hit the street. Infant and father came through with fiying colours however, and by Wednesâ€" day night at 8.40 the fumes of chloroâ€" form and ether changed to the more pleasant bouquet of Dewars and tangy hops. From then on the OB ward was jammed with newsboys coming back for more copies of the "baby" and the only regret Charlie had was that the mother‘s cigar smoke calused the flowers to wilt. Fortunately Charlie turned cut to be a nonâ€"temperamental parent. He did not pace the floor in front of the operâ€" ating room and smoke countless cigarâ€" ettes, He didn‘t get in the way of the people attending; but he did say from time to time that he felt a bit weak. Personally I feel fine and told Charlie that if he had been present diuring the birth of the Val d‘Orâ€"Lamague News in September, 1936, he‘d have something to feel weak about. That was a fifteen day nightmare whereas the birth of La Voix de Val d‘Or required only about three days. (From Val D‘Orâ€"Lamaque News) Jean Charles Daoust (Charlie to you) became the proud father this week of a lusty rugged infant, 7 columns wide and filled with 8 pages of rollicking editorials and news items. (Since beâ€" ing printed it hasn‘t stopped talking for itself, which is one of the valuable characteristics of its proud parent). Those present during its birth, were uncles, Tom Hunter, setterâ€"upper; Ed Oullette, makerâ€"upper; Frank Gregg, presserâ€"upper; Fred Elphick, presserâ€" downer; Harvey Pellette, folderâ€"upper; Farl Pellette, wrapperâ€"upper. The Misses Sophia and Mary Luknow sent out the announcements, which brings up the question, who is it‘s mother? It‘s a bit difficult to believe that this stogieâ€"puffing guy could be a mother, but there are mothers in Kentucky, I understand, who smoke pipes, so what‘s a pufl one way or another between mothers. f About New French Paper at Val D Or Humorous Introduction of "La Voix Deé La MOr." 392 SHERBOURNE ST. (Just above Carlton) RA. 4135 S$T. RLELGIS Doherty Roadhouse Co. STOCK BROKERS Timmins, 19 Pine Street North Toronto Kirkland Lake 293 Bay Street 34 Government Rd. EVERY ROOM is an outside room,highâ€" ceilinged and good size. Each room has its own balcony and tiled bath and shower. Good food. Attentive service. Private hotel garage service available. Away from trains and noise; yet only 3 minutes from Eaton‘s College Street Storeâ€"â€"which indicates how quickly you can reach stores and theatres. Single rooms, double rooms, suites â€"all with bath and shower l o HOTEL WHEN YOU‘RE IN TORONTO Market Quotations Broadcast each day at 12.20 noon Direct Private Wires for fast and accurate quotations and executions in all Accurate Markets and Executions in Members Toronto Stock Exchange FROM $2.00 DAILY St'ay al Commission basis only al Phones 1200 and 1201 Unlisted Stocks Mining Stocks Industrial and Public Utility Stocks Bonds and 5.20 p.m ! fulfill. Popwar cpinicn indicates that ‘t,he first issue of the new "baby‘" is off _on the right foot and following a brief crawling stage will walk with the other | useflul publications of Canadian jourâ€" nalism. ; North Bay Nuggot:â€"Provisicns of a sill now tzirg considered by the Senate propose that wives be entitled to divorce if it can be established that the husâ€" band is of unsound mind. Aren‘t we all, in their eyves? North Bay of political persuasions, Canadians deeply regret the imperative decision of Right Honorabile R. B. Bennstt to resign leadersrip of the Dominion Conservaâ€" tive party. Last year company bought $50,000 worth of senior gold stocks, all of which have since been sold at a profit of $5,773, including dividends. All reports were adopted and direcâ€" tors reâ€"elected for the ensuing year. There is some possihbility of broken ore reserves decreasing this year, as work below the 1,00â€"foot level will not have opened any substantial new ore bcdies. It is believed that findings by diameond drilling and other exploratory work make it unnecessary to stop sinkâ€" ing and open new levels just to deâ€" velop ore at this stage. Last year the company purchased the Imperial claim for $15,100, and it will likely ibe explored ‘this year. It is alâ€" most due north of the main Buffaloâ€" Ankerite property, separated from it by the two Wright claims, which comâ€" pany also holds. Work on the latter claims was stopped last Octcber due to heavy expenditures on the main proâ€" perty. Torontc, Ont., March 15.â€"Buffalo Ankerite Gold Mines made better proâ€" gress in 1937 than was anticipated by the management, E.~G. Kinkel, Presidâ€" ent, told shareholders at the annual meeting held in Toronto yesterday. Bullion production increased 50 per cent. over 1936, he said, and net profit increased exactly the same amount. Tonnaze treated was up 26 per cent. and costs were considerably lower, notâ€" withstanding inm:reased cost for materiâ€" als and labour. Profiwls for the current year depend on continuation of tonnage at better than 1,000 daily and im grade of ore to be treated, and Mr. Kinkel expected that bullion recovery in 1938 would be equal to or better than that of 1937. Management is not contemplating any increase in tonnage for the presâ€" ent, decision awaiting development of cre below the 1,000â€"fcot level, for which purpose a new main shaft is being sunk and which should reach the 1,000â€"foot level in a short time. The biggest capital expenditure this year, said the President, would be the new shaft, which up to the present had cost about $143 per vertical fcot. Total cost will be about $600,000. Current assets should be further inâ€" creased this year, as company does not intend to pay out all profits in diviâ€" dends. Part of company‘s surplus will be invested. Annual Meeting of Buffaloâ€"Ankerite Held in Toronto on Tuesday of This Week.