44

New York & Honduras Rosario Mining Company.

Balance Sheet December 31, 1918.

ASSETS

Mines, Real Estate and Concessions.........     $3,000,000.00

Buildings,   Plant  and  Equipment............       1,135,859.10

Investments : Stocks of other Companies....           44,853.00

Advances—to   other   Companies.............           92,405.34

Insurance  Fund   ...........................           15,114.26

-------------------    $4,288,231.70

Cash and Cash Items.......................       $346,284.99

Liberty Bonds  .............................         323,500.00

Bullion in Transil..........................         387,348.23

Broken Ore in Stopes and Ore in Mill Bin..         112,125.43

Materials and Supplies......................         401,343.05

Notes and Accounts Receivable.............           60,264.66

-------------------      1,630,866.36

Deferred Charges to Operating.............         $37,084.51

Accrued  Interest   Receivable................             2,419.18

-------------------           39,503.69

TOTAL ASSETS   ..................................     $5,958,601.75

LIABILITIES
Capital Stock—

200,000 Shares Par Value $10.00........................     $2,000,000.00

Notes, Drafts and Accounts Payable.....................          672,854.10

Accrued Interest Payable and Deferred Credits...........              5,935.17

Reserves—

For   Depreciation   .......................        $422,789.33

For    Depletion    (after    deducting    $200,-
000.00   distributed   to   Stockholders    in

1918)   .................................        260,505.86

For Exchange Fluctuations...............          131,753.75

For Taxes  ..............................            15,583.69

For  Insurance   ..........................            15,114.26

------------------        845,746.89

Surplus—Including increase in valuation of mines to com¬
ply  with   Government   regulations   amounting  to   $755,-

737.38, after deduction of reserve for depletion set aside

to  date   ...............................................      2,434,065.59
 

TOTAL LIABILITIES   .............................    $5,958,601.75
 

We have audited the books of account of New York & Honduras
Rosario Mining Company, kept at the New York Office, and, with the
exception of the Honduras Inventories of Materials and Supplies, which
have been verified only as to extensions and footings, we HEREB'V
CERTIFY that the above Balance Sheet is, in our opinion, a correct
statement of the financial status of this company at December 31, 1918.

Bankers & Merchants Accounting Company,
By Arthur P. Monk,

Certified Public Accountant (N. Y.)