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Another Satisfactory Report by the Mclntyre gressive situation in regard to the Mczâ€" Intyre itself, but also that this big ming is doing excellent work in aiding in the developmént of the North sy its interest in â€" other promising mining properties. MciIintyre Porcupine Mines, for the {fiscal year ended March 31 last, shows net profit of $3,592,911, equal to $4.49 per share, and compares with net of $3.691,676 or $4.63 per share in the year immediately preceding.. After deducâ€" tions by‘ the Royal Mint for taxes, bulâ€" lion recovery in the year totalled $7,994,251 against $7,593,563 in the pre vious year. Mine operating costs of $3,694,950 and $3,508,015 for the two years, respectively, were deducted, while administration costs amounted to $100,â€" 286 against $102,880, leaving operating profit of $4,199,015 for the year under review, compared with $3,982,669 in th» preceding year. The current report proâ€" vides $352,.615 for depreciation against $328.977 a year ago, while provision for tax©s is shown at $634,064 against $266,â€" 662 in the previous report. The report for the year ending March 31, 1935, Mowever, shows taxes, exclusive of the Dominion Incowme Tax, which was inâ€" cluded in mint deductions from bullion recovery. Nonâ€"operating revenue totalâ€" led $370,575 against $304,646 a year ago, making net profit for the two years as shown above. $ The annual report of the McIntyr® Porcupine Mines, Ltd., for the year ending March 31st, 1936, has beon reâ€" ceived by The Advance. The report again is eminently satisfactory, and shows not only a healthy and proâ€" MONT» AY, JUNE 1ST. 1936 Net Profit of $3,592,911, Equal to $4.49 per share for Y ear Ending March 31st, 1936. Fiftyâ€"seven Properties Samâ€" pled and Reported on During Year. Some Improvement in Mine Taxation. The earned surplus as of March 31, 1936, is carried at $10,424,017 against $9,435,307 at the end of the year imâ€" mediately precsding, while capital surâ€" plus account shows $248,101 and $242,â€" 930 for the two years, respectively. Balance sheet as of March 31 last shows current asets at $12,605,429 of which $860,596 is cash; $438,508 bullion in transit or on hand; $9,022,044 Govâ€" ertmnment bonds, market value, $9,149,â€" 265: $2,192,241 other marketable sccuriâ€" tics, market value $5,699,855; $92,039 accounts and interest receiva@ble. Curâ€" rent liabilities total $1,519,968. President‘s Report to Shareholders OO LE \ In his annual report to the shareâ€". holders, President J. P. Bickell says:â€" "The balance sheet .and earnings statement, as well as the Goneral Manâ€" ager‘s report attached hereto, will show that the results of operations, conductâ€" ed during the fiscal year ended March 31, 1936, were not greatly â€" different from those of the previous year. D:epâ€" er mining and the opening up of old areas for reâ€"examination and further development, so that full advantage may be taken of the increased price of gold, have added to bur unit cost. The average grade of ore treated was someâ€" what lower than in the previous year and earnings p>r share totalled $4.49 as against $4.63. "On the other hand, the market value of our investments increased substanâ€" tially, and the company‘s financial poâ€" sition has shown greater improvement during this fiscal year than in any preâ€" vious similar pericd in its history. "QOutside exploration was maintain‘d with undiminished energy, and at the present time, as the General Manager‘s report states, we are aciively engaged a broad area. made i: ject of modifvi way, it must continue to p and commercial fu and that collatera derived from minin gerived {rom m portant than of this change governments, f: have formally for stability as "Through the death of the late Mr.]| Toronto and left toâ€"d: J. B. Tudhope, a director since 1915, of their summer‘s work renders a complete optical service,. You may confidently entrust the care of your eyes to our graduate optometrist. Evenings by appointment. St, N Financial Ssituation REMUVUS OPTICAL DEPARTMENT the dirscl d attitude ederal â€" a: acdmitted leweller R. J. Ennis, general manager, states that during the year the company mnilled 872000 tons of ore averaging $9.88 per ton, from which was recovered 232112 cunces of gold and 46,048 ounces of silver of total value of $8,190,639, inâ€" dicating per ton recovery of $9.38. Bulâ€" lion melting, refining and handling charges amounted to $90,800 and Doâ€" minion production tax $105,587, Qeavixlg net income from bullion output at $7,994,251 Ore reserves at the end of the year were estimated at 3,574,720 tons, of which 180.%413 taons is broken. Average grade is shown at .312 cunce gold per ton or $10.88 and total value of $38,909,â€" 850. Mr. Ennis states that new ore deâ€" velcped during the year has been sufâ€" ficient to fully maintain the ore reâ€" serve position. D:velopment work on th> upper levels has resulted in the finding of further extensions to preâ€" viously worked ore bodies and as anâ€" ticipated, these areas continue to conâ€" tribute large tonnages of good grade Continuing his report the general manager says:â€" "On the lower levels from No. 12 inâ€" ternal shaft, some of the ground conâ€" sidzred favourable for ore has teen exâ€" plored with fair results. Referring to the sunmary of mine development it will be noted that No. 22 vein was developed for amn additional 1976 feet in ore averâ€" aging .360 ounces over drift width. Outside Exploration sunmary of mine de be noted that No. 22 v for am additional 1976 aging .360 ounces Oov© Outside Exp Outside Exploration Some 57 properties were sampled and reported on during the year and fayâ€" surable recommnâ€"ondations were made on six. Oonme of theso was optioned and others are under consideration. "Diamond drilling on properties opâ€" tioned in ChibougamaAu, mentioned in last year‘s report, did not confirm surâ€" face sampling, and the option was alâ€" lowed to lapse, "The option on the O‘Leary Malartic group of 19 claims in Guillet Townâ€" ship, Lake Expanse District, Quebec, was completed, and we now own an 80 psr cent. interest in these claims. A shaft was sunk to 375 feet with levels at 125,225 and 325, and 1824 feet of horizontal work developed 24,000 tons of ore averaging 415 ounces per ton. Thirteen other claims adjoining this group were purchased outright, and our prospectors staked 15 claims also adâ€" joining, bringing the total number of claims in this district to 47. "On one of the groups of claims putrâ€" chased outright, commonly referred to as the Ranger Group, a promising daisâ€" covery was made. Trenching and diaâ€" mond dGdrilling have indicated 41,000 claiims in This dIstrict TO 41. "On one of the groups of claims putrâ€" chased outright, commonly referred to as the Ranger Group, a promising disâ€" covery was made. Trenching and diaâ€" mond Grilling have indicated 41,000 tons of ore averaging .31 ounce per ton from the surface to the 125â€"foot horiâ€" zon, and established the continuity of th»> vein with payable values to the 300â€"foot horizcn. A threeâ€"compartment shaft is being sunk to a depth of 550 feet and a 100â€"ton mill is being erected. "*To the Staff and to all those assoâ€" Geological Survey Now on in This Area "To the Staff and clated with the work tion, I would formally clation of their coâ€"c sistance so gâ€"nerous Ontario Dept. of Mines has Men at Work in Townâ€" ships of Denton, Keefer, Whitesides and Carseallen A geological survey toâ€"morrow by the On of Mines of the towTt Keefer, Whitesides ar of Carscallen in the e A geological survey is to be begun toâ€"morrow by the Ontario Department of Mines of the townships of Denton, Keefer, Whitesides and the south part of Carscallen in the east section of the camp. W.Jewett and Mr. Berry arrivâ€" ed in town during the weekâ€"end from Toronto and left toâ€"day for the scene S SstaKCCG ringing th this distri of the gr tright, cor nger Grou s made. 1 lling have of UAis organiza y record my appre operation and as Phone 199 endered ral Castleâ€"Trethewsy Mines, for the fisâ€" cal year ended March 31st, 1936, shows net profit, subject to depreciation, aAt $40,521. Income for the period $57.945, of which $52,8383 was derived frcm dividends earned; $3126 interest and exchange and $1985 sundry revenâ€" ue. Exp:nditures totalled leavyâ€" ing profit as shown @bove. J. P. Bickell, president, states that balance sheet and earning statements indicate that during the fiscal year earnings were slightly improved and the market of security holdings inâ€" creased sucstantially. Under the agreeâ€" ment with Omega Gold Mines, Castleâ€" Trethewey has advanced to that comâ€" pany, to settle cutstanding obligations and to provide the plant and equipâ€" ment necessary to treat a minimum of 360 tons per day, the sum of $652,503. Omega is obliged to repay this amount out of its first earnings. Castleâ€"Tretheâ€" way now owns 2,560,000 of the 5,000,000 authorized shares of Omega. Sink Shaft on Lang Claims Near Pamour Instead of improving, the silver marâ€" ket has weakened, and the company‘s Gowganda properties remain idle. The balance shest as at March 3l1st shows current assets at $744,551 made up of cash $42,405 and marketable seâ€" curities, $702,060, market valus $1,845,â€" 000. Shares, at cost, and advances to Omega Gold Mines, are carried at $663,003. Current liabilities are carried at $353,647 of which demand notes amount to $350,000. Hollinger‘s work on the Lang group of claims immediately adjoining Pamow mines to the east is going along quickly. Although work was begun only a couple of weeks ago, power is already availâ€" able at the property, a shaft has been sunk about 25 feet and buildings are going up. Construction of the headframe for the shaft will be begun this week; a hoist is new being installed; a dry in comâ€" bination with other surface facilities is being built and work is going along quickly in all departments. Immediate development plans include the sinking of the shaft to a depth of 200 feet and crosscutting south to a pcint where diamond drils have inâ€" tersected a promising looking orebody. The Advance learned, following a visit to the property. Hollinger Carrying Along Work on Promising Proâ€" perty in Popular G old Area. Work at Golden Gate Mine Shows Promising Results Local officials of Golden Gate Minâ€" inz Company report that the new surâ€" face find is opening up well under acâ€" tive surface exploration work. This disâ€" covery is located about 200 feet northâ€" east from the workings at the 200â€"foot level, and it is believed that only a limited amount of lateral work at this horizon will be necessary to onpnen up the vein at depth. On surface it shows appreciable mining widths and free gold is in evidence in many sections along its known length. 8. A. Pain, consulting engineer in charge of work, advises that the surâ€" face plant is now in good order and dswatering cperations will be started immediately. Following the completion of dewatering operations an intensive campaizgn of lateral development will b2 proceeded with, and work in this connection is expected to get under way within the next three weeks. Diamond drilling from the underground workings will be undertaken. ‘astleâ€"Trethewey Netted $40,534 in the Past Year Diamond Drill Results Reâ€" ported as Good. Imporâ€" Most spectacular of local gold mine stocks during the past week and one that has attracted a large amount of buying on the part of Porcupine, district people is Preston FEast Dome, a 3,000,â€" 000 share company owning a group of claims east of the Dome property in Tisdale township. High for the stock, listed on the Toronto Stock Exchange on May 6th this year was 35 cents a share. On Wednesday of last week, it hit a high of $2.05, following a sudden, spectacular rise that followed a proâ€" gramme of diamond drilling. Five holes have been sunk in the properiy by the Ryan Diamond Drillâ€" ing Company, The Advance learned following a visit to the property last week. Assays of sludge from the holes indicate good ore, the management of the mine have stated. Expect Important Announcement An important announcement from W. H. Bouck, of Toronto, viceâ€"president of the mine, is expected this afternoon, "We are very well pleased with deâ€" velopments there so far," Douglas Wright, consulting eng‘neer told The Advance. "It looks as if there‘s a mine out there." He will recommend, Mr. Wright said, that underground work should start at once. ‘"There Are a lot of unfounded rumours current in the camp about Preston East Dome," he concluded. There is no shaft on the property, only surface work and diamond drilling having been done from time to time. At present, the company has a few small buildings erected and a new road and a telephone line are now under conâ€" struction. James Bowery is in charge of operâ€" ations at the property. lay Sink Shaft on Preston East Dome tant Announcement Ex pected. THE PORCUPINE ADVANCE, TIMMINS, ONTARIO Omega Gold Mines Will Enlarge Mill, Says Report Afton JA Barry Hollnwer ...... Base Metals ... Big Missourl ... BEA Beattie :............: ie is freriadn BORJO .i it BRralQrne.. Buffalo Anksrite ..;....... Canandian Malartic Castle Trethewey ; Central" :n en . .a d sls is is . . Consolidated Chibougamau Tomes...s....:" en Eldorado Falconbridge God‘s Lake ... Granada . x Greene Stabellc ie Hardrock Hollinger Howey ... Hudson Bay International Nlckcl Jackson MaIHION‘4.;;:..;........., Kirkland Lake ... s iss Lake ERONX Loe Gold Littleâ€"Long Lac ... * Manitoba and East Maple Leaf . MacLsod Cockshutt ..... . McIntyre :s:.l.,,siAl .n McKenzie Red Lake McMillan Gold McVittic G. s McWatters ..s..s........ Mining Cox'pomtxon IMonota. C ' Nipisisng ... Night Hawk Noranda........... Omega . Pamour Paymastcr | Pickle Crow ... e Balance sheet as at March 31 shows currént assets at $61,5096 against current liabilities of $55,519. J. P. Bickell, president of Omega Gold Mines, in the annual report, states. that at the end of the company‘s fiscal year, March 3ist latst, the Larder Lake proâ€" With increased power now available, more extensive mine development is under way and during the late summer it is planned to increase the daily mill capacity to approximately 500 tons. Ore rescrves are estimated at 440,000 tons averaging .197 ounce gold per ton, and in addition to the ore thus comâ€" puted, a considerable low grade tonâ€" nage, though indicated, has not beon developed sufficiently to permit its inâ€" clusion in a rrserve calculation. perties had been provided with modern equipment and the mill demonstrated a capacity in exooss of 300 tons per day. A. D. Campbell, manager, states that the milling practice finally adopted is an adaption of the McIntyre system of flotation followed by cyanidation. During February and March the mill treated 17,352 tons of ore with net roâ€" covery of $60,992, with costs of similar acount. He states that these results are preliminary and will be improved. Costs to date have averaged $3.70 per ton treated. Pioneer Porcupine Crown ! Preston East Doms .. I IRead Authier . nRed Lake Goldshore Reno C K | Robb Montbray San Antonio ... Shawkey ....... Sherntt Gordon . St. Anthony â€"............. scuth Tiblemont Sullivan e Sudbury Minés ... Sudbury Contact ... Stadaconfa ... Eylvanite w0 in mm "0""""""“‘""’" OOR 2 .i in Teock HU"th : Ventures ... x Wayside ..:..:...... . Wright Hargreaves White Eagxle .......:... Bankfield ........ * Bidgood Kirkland BR Canadian Pandora Casey Contact ... Casey Summit ... Central Porcupine De Ssantis ................ Deéelnite :;......... Fortyâ€"four CHIgnOrtk ;;...2.../..a;a. Grillies Lakeâ€"Pore. Grilbec Hugh Pam Lamague Leitch ‘KAM* Magnet Lake ... Matachewan Cons. Moffatt Hall New Porcupine Creck . Porcupine Goldreef Sigma . Vimy . Younsg Davideon Amherstburg Echo:â€"Amn indistinct male voice over the phone told the Echo office girl that he "wanted to inâ€" sert a notice of the birth of my twins." Politely she asked, "Will you repeat that, sir?" and was flabbergasted when the answer came: "Not if I can help it." Sudbury Star;â€"A St. Louis man and wcoman both reached 100 years of age on the same day. A further remarkable coincidence is the fact that both were born on the same day. Toâ€"day‘s Stocks Listed Unlisted Bid Asked 61 6A es JY 7. 18 7.65â€"8.00 L119 i1409 Ad ...... 3.30A ....... 2.30 1.98 s 9.20â€"9.50 s 41046 10e ......6.00B .. 2.29 +100 1:3909 â€"26‘4 A71.25 .606 it B2 Wcy 4s .599.105 ... 27 ... 1 40 1,.25A 44.135 .1.68 57.00 .0.10 63 2.30 101 2.62 3. 49 .0. A0 135 1.95 12‘ 8.10 Thompsonâ€"Cadillac Mills 100 Tons a Day Over the weekâ€"end, Brig.â€"Gen. G. E. McCuaig and John McFetrick, both of Montreal, sponsors of the property, visited the property and examined the underground workings in company with Andrew Walz, Viceâ€"President and conâ€" sultant. The mill on the Thompson Cadillac Mining Corporation property, in Northwestern Quebec, is now operating on a basis of 100 tons daily for its preâ€" liminary tests. Cleanâ€"up ore from the drifts on the 150 and 300â€"foot levels, averaging about $4 per ton, is being usâ€" ed to give the mill its first run. While earlier plans were to start on a 60â€"ton basis, it has been found more feasible to operate at the higher rate, which will probably be continued. In drifts on the 150â€"foot company has recovered n $8,000 in high grade ore, v awaits shipment to the mint Goodfish Mine Said to Have Entered New Deal Goodfish Mining Company is said to have entered into a new deal which will provide funds for more extensive development at its property in the Kirkland Lake area. Considerâ€" able work already has been done on the claims, where three shafts have been put down, the deepest of which is at 600 feet. Drifting is proceeding east at the 100â€"foot level and both east and west at the 200â€"foot horizon. G. R. MaclLars®n, mine manager, has reported the grades of ore as being good but as yet of narrow width. Work on No. 5 shaft, 1200 feet to the northwest, has been planned for an Oobjective of 150 feet depth to test a known vein strucâ€" ture at that point. Since the start of the year approximately 700 feet of lateral work has been accomplished on the two levels at the main shaft, 300 feet on the first and 400 on the second level. The balance of the gold content in the ore is taken out in an amalgamaâ€" tion process, and the first lot of amalâ€" gam was taken from the mill on Friâ€" day night, weighing several hundred grams. The major part of the gold content from the ore is extracted in a fiotation process, now producing about ten tons of concentrates daily, averaging slightâ€" ly less than two ounces of gold per ton. It is expected that when the proper ratio of the reagents has been estabâ€" lished that these concentrates will carry slightly better than two ounces of gold per ton. 4 roperty in Which Many Here have Held Interestâ€" ing Operating on 100â€"Ton Basis. the 150â€"foot level, the recovered more than grade ore, which now Look At It This Way! A retail store regards itself as being a public servant. â€" Therefore, it isâ€"wholly fitting that it should try to be the best and most eager servant possible. A retail store which hides itself from those whom it wants to employ it becomes underâ€" employed, and so its sales decline. The public inclines in largest mumbers toward those stores which seek its attention and custom. It takes the advertising store at its own valuâ€" ation. It likes to do business with those who manifest eagerness to serveit. ‘It likes to buy at those stores which have to renew their stocks frequently. ‘ Advertising is just communciating news and information about one‘s storeand service. It is just a form of talking. It is those who talk who are listened to. Silent stores lose out to stores which carry on conversationsâ€"in the form of newspaper advertisementsâ€"with those whose custom they want. ‘ Any retailer who wants to get more customers â€"for the replacement of eustomers who became lost to him and for the expansion of his business â€"can surely get them by making his store imâ€" portant in their eyes, and by putting in his advertisements the kind of information which will help buyers come to decisions. Our newspaper‘s advertising department is ever willing to help retailers prepare the right kind of advertisementsâ€"free assistance, of course. Stocking Waters in the Falls District Iroquois Falls Rod and Gun Club in Conservation W o r k. Other Iroquois FTalls News.1""* "‘= Iroquois Falls, Ont., Juné6‘1st,}1936. Special to The Advance. A shipment of pickerel fry from thc Provincial hatchery at Port Carling was planted in Sesekinika Lake Friday by the Iroquois Falls and District: Rod and Gun club, who stock district lakes anâ€" nually with pickerel, lake trout and speckled trout. Further shipments from the Manitoulin hatchery at, Little Curâ€" rent are, expected this week for Wilson, Reid and Mortimer lakes. The Iroquois Falls Horticultural Soâ€" ciety has this Spring distributed 1,050 gladioli bulbs to frge. Ten free bulbs were gwcn ‘each member joining the Society before June 1. FPrank Ginn, North Bay, returned to the Bay Friday after spending several days in town on business. Miss M. Brackenbury, Surbiton, Surâ€" rey, England arrived Friday for an exâ€" tended visit with Mr. and Mrs, 0. Shaw, Hamilton. » + s J. V. Stevens and L. R| Newman are among those called to Cochrane for the June Assizes, on jury duty. Doherty Roadhouse Co. Toronto 203 Bavy Street Direct private wires for fast and aceurâ€" ate quotations and executions in all Accurate Markets and Executions in gocal Phones 1200 and 1201 Members Toronto Stock Exchange Charlie Hallâ€"Manager Unlisted Stocks Commision basis only Mining Stocks Industrial and Public Utility Stocks "The June meeting of the Iroquois Falls and District Rod and Gun club, scheduled for June 1, has been postâ€" poned until Monday, June 15th. ‘Extensive repairs to the United Ohurch basement, housing the Sunday School rooms will be undertaken shortly The flioor will be repaired and a reâ€" arrangement of the various rooms made, Extensive changes will be made in the heating plant. As far as possible theo work will be done by volunteer labour. Archdegacon J. E. Woodall, South Por- cupine, visited in town Thursday. An executive meeting of the Diocese of Moosonee will be held at Monteitlh on Tuesday. Transâ€"Canada Air Service May be Publiclyâ€"Owned Within the next month or two the Government will decide whether pubâ€" liclyâ€"owned or private planes will be used on the transâ€"Canada air route, Defence Minister Mackenzie announced last week, in the House of Commons. minister gave his opinion Six months‘ notise was necessary to the contracting parties to train pilots and purchase equipment. The transâ€"Canada route will be used to fly mail and passengers across the country. Airports and emergency fields have been built in recent years, some of them by men in relief camps. Many of the fields will have radio directionâ€" finding equipment. Timmins 19 Pine St. North PAGE FIVE