Show RAY CON COPPER MAKES REPORT FOR THIRD QUARTER Earnings Were at the Rate of a Share Per Annum Report of or Ray flay Consolidated Copper endea September 30 company for tor quarter hOws nt net of ot or at the rate of ot share per annum a Production amounted to Hounds of ot copper In concentrates compared com corn pared ared with in previous quarter an increase of Income account for Cor three five quarten quarters ten tars compare as follows 11 so 30 Isa 36 30 M h 1 1 Net qt I income lUH Tot Tot-al 2 I Balance Surplus SUr 1 The av average net t cost t per pound of all copper co r produced C for or ilie the quarter t was 1030 cents centa with ce cents sn in previous e quarter E Earnings for third Quarter this y year r rare pare are b based sed on a a. price o of cents per cents for second quarter of 1916 1 Production for three five quarters follows fol- fol lows j Mu Myth h 31 11 S Set Sept pt L SO 10 June 30 i Tint lint month elIr J ls d month 08 Total ToUl ii Average monthly production In third f quarter of 1916 was pounds cOmpared cOm cOm- pared with pounds in previous quarter DIrector Dl- Dl l President Aldrich and Managing rector ectOr Jackling In remarks to stockholders stock stock- holders say In art from co con cot con con- derived In addition to o copper ores there thero was a 8 total or of contained In ores or of pounds n copper This t sl shipped direct to the smelter t combined brings bringe the total gross lIon for the quarter up to f Total ofal amount of ot ore milled for the theL L quarter was dry tons averaging cent copper compared with 0 J 1571 per f 86 dry tons averaging 1679 1579 per cent for the previous quarter j The milling cost for tor the quarter was IMS' IMS cents per ton compared with r cents for the previous quarter fr During the quarter a large part of the I improvements which have been in progress progress ress for the past year or more looking to the betterment of ot metallurgical rei re- re i suits cults were completed and In consequence the recoveries were the best ever ob- ob lathed by us These Improvements Improvement not only assure better operating results but 11 0 a a. very considerable increase of ot copper copper cop- cop per output L The average mining and coarse crushIng crushing crush- crush ring Ing costs of ot ore milled for the quarter was az cents per ton of which 6 cents ts was the tho cost of ot coarse coane crushing leaving the net mining cost cents f per ton as compared with a n net t cost of cents for the previous quarter f. f The underground development for the f quarter was feet teet making the total T development to date feet |