Comparative Statement  of Working  Capital.

December 31   .....................................      1913                     1914                    1915                   1916                        1917

Cash and Ca.sh  Items.............................  $106,866             $ 90,618             $112,208             $259,4,59                 $515,562

Bullion   in   Transit.................................    207,4,38               2.52,.348               271.7.35               353,115                   ,325.260

Ore in Stopes and Mill Bin.........................     89,077            :. 96,884.,      ■,-..99,951                122,873                   121.171

Inventories and Supplies............................    250,940               272,805';      ;;,'292.731                ,300,759                   427,908

Accounts  Receivable   ..............................      41,805        . ,'.   .^  5,0?e-_'      ^,.,', 1,896                 66,497                   115,.303

Total Quick Assetst........................... $696,126          ..$;i7,6b'.      '•;$?78,521         $1,102,703                $1,.505.204

Current   Liabilitiest   ...............................      91,344         .,,,71,138'        ,','"59,026             257,498                     567,783

Net Working Capital, exclusive of Reserves, Capital

and  Surplus   ..................................  $604,782             $646,537'         ;$yi9,495              $845,205                 $937,421

Increase over  Preceding Year......................                                 4i;75.5           ,''72,9.58                125.710                    92.216

Increase over Dec, 1913, Working Capital..........                                 41,755           "  114,713               240,423                   332,639

Increase in Investments over 1913..................                                 38,309                 43,781                103,.521                   134,794

Additions to Plant, etc, since 1913..................                                                                                                                    207,879

Increase of .Assets since 1913.......................                                                                                                                   $675,312

tKmbraces all Cash in Banks and .Agencies, Accounts and Notes Receivable, Inventories, but does ;;(./ include Plants,
Real b'state. Mining Property, b'quipment nor Investments.

t.The Liabilities embrace everything except Capital Stock, Surplus and Reserves.