Auditor's Certificate

WE HEREBY CERTIFY that we examined the books of
account and record of the NEW YORK & HONDURAS RO¬
SARIO ]\IINING COMPANY, NEW YORK CITY, for the
year ended December 31, 1927 and, subject to the fact that we did
not examine the records at the mine office in Honduras, it is our
opinion that the annexed Balance Sheet shows the financial condi¬
tion of the Company at December 31, 1927, and that the related
Income and Profit and Loss Statement is correct.

(Signed)    Eknst & Ernst.
 

Government of Honduras

We have had many important questions under consideration
with the Government of Honduras during the past year, and we
wish to extend to that Government and its representatives our
thanks for the courtesies that have been extended to us, and our
best wishes for the prosperity of the people of Honduras.

All of which is respectfully submitted,

Lewis L. Clarke,

President.