Mining for the Investor

Title

Language

English

Source

The Marsman Magazine Volume III (No. 8) February, 1939

Year

1939

Rights

In Copyright - Educational Use Permitted

Fulltext

By Ralph Keeler MINE MANAGEMENT IN THE PHILIPPINES The organization which J. H. Marsman has built for the management of mining properties in the Philippines is based on the principle of coordinating the services of many specialists through committees. It is organized for the utmost efficiency and economy, and smoothly-run operations at the Marsman mining properties indicate the success of the system. The foundation of any mining company, of course, is the body of shareholders. The shareholders meet once a year, and elect directors, who in turn elect their officers-president, vicepresidents, secretary, and treasurer. The administrative board in Marsman & Company is the Executive Committee, composed of six members appointed by the Board to carry out the policies of the Company. A Finance Committee consisting of experienced financiers control the fin- _ ancial affairs. Technical details of mine operation are determined by the Boards of Engineer.s, which consists of 7 members, each an engineer of long experience in THE MARSMAN MAGAZINE for February, 1939 his particular line, whether it be mining, milling, smelting, dredging, . geology or drilling. As new problems arise, such as plant construction, new underground development campaign, et cetera, they are discussed at length by this board. After a plan of operation has been drawn up and approved, it is turned over to the DivisiOn Managers (at present there are two, Northern and Southern Division Managers). The Division Managers in turn delegate the details to the General Superintendents of the various units. Each mining company is under the active administration of the General Superintendent and his staff. Experienced mining engineers, most of them graduates of one of the leading mining schools of the United States, are chosen for these staff positions. Each man is thoroughly investigated before he is engaged, and each has years of experience to his credit. A feature of the Marsman organization which is outstanding is the accounting system which has been built up during the past five years. Each mining c"ompany uses the same details 9 of accounting, with a mine accountant stationed at each property. Daily records are sent to the main office in Manila, for careful study and recording. Through these records, which the division managers, the mine management committee, and the board of engineers go over daily, the progress of each mine is noted. Purchasing for all of the mining companies is handle~ through the Manila office, and substantial economies are effected by large quantity buying. The isolated location of practically all of the mining companies makes it essential to keep comparatively large stocks of mining supplies at the mine, as well as the necessities of life for the staff 10 Close Haman Relationships -alat between thla bank and the people of this Communit11. THERE are no dinding lines between the interests and welfare of this bank and the interests and welfare of Its neighbors, whether or not they are customers. Our depositors who entrust their funds to our keeping represent a broad average of the men and women of the Community. Our borrowers are men and women engaged in active business enterprises which, we feel, entitle them to the use of the bank's credit resources created with the aid of our depositors' mone7. This bank, as a center of the financial interests of these men and women, makes possible interchange of practical helpfulneu. PEOPLE'S BANK AA"D TRUST COl\lPANY Manila, Philippines Four Provincial Branches at your Service Baguio, Mountain Province Tarlac, Tarlac-San Pablo, Laguna San Fernando, Pampanga THE MARSMAN MAGAZINE for February, 1939 members, the laborers, and the families of all employees. Every mining camp has a complete cold store, where fresh meat, fish, vegetables, and dairy products are always available. Much improved transportation facilities in the Philippines in recent years, by air, train, water, and road, make it possible to send supplies from Manila almost daily-bad weather during the rainy season, however, must be foreseen and care taken that the warehouses are sufficiently stocked to keep the camp running efficiently. The principal work of the secretary is the handling of stock transfers and of the general correspondence of the company. The mining industry everywhere is, of course, closely linked to the share markets; when the market is active it keeps the secretary and his staff busy. Shareholders I ·------ Board of Directors I President Auditor I Vice-Presidents I Treasurer - - - - - - - - Executive Committee - - - - - - - - Secretary I Share Registrar I Traveling Auditors I Staff I Chief Accountant I Finance Committee Mine Accountant I Staff Board of Engineers I Mine Management Committee ' General Superintendent I I I I Mine Superintendent Mill Superintendent Staff Chief Mechanic I Asst. Superintendent I - Asst. Superintendent I Chief Engineer I Staff I Geologist I Assayer I Shift Foremen - I Laborers I Laborers Shift Foremen I I I Capatazes Staff Capatazes I ~ Laborers I Laborers I Laborers THE MARSMAN MAGAZINE for February, 1939 11

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