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Show COPPER PROOUCTIOK IN UTAH - FOR MONTH OF LMRCH 'e . . - . ! . . , Figures compiled for the production t copper In Utah for the month of ' . March shows a substantial increase over the same period hud year, the i ,., . following account of which will be of i. interest to many people. ' ,'. n .The March output of the Utah Cop-. Cop-. .per company showed an Improvement of over B.uOO.Ovo pounds from the subnormal sub-normal operations in February. The , total nilm output for the quarter ended end-ed March 31 waa 41,780.000 pounds in the form of concentrates, which com-r com-r ; pares with 42,866,000 pounds in the : .:. -,, same period of 117, a decrease of .-. , something over 1.000,000 pounds. .Utah's sister property, the Nevada :! . Consolidated, for the same three - months' period produced 18.JilO.000 pounds, against '18,851,000 pounds In . j. . the corresponding period of 117. v.-:- . ' ft la very evident that, with mount-, mount-, log coats and heavy exces profits .. taxes, the margin of safety protecting , the dividends of these two companies ta none too large, in fact. It la diffl-' diffl-' cult to see how Nevada Consolidated can continue paying U present dividends divi-dends of 84 per annum - without encroaching en-croaching upon profit and loss surplus. sur-plus. One has only to go back to the statement of Nevada Consolidated for the December quarter to find that there was a deficit after dividends of 1426,353, and this waa before any allowance waa made for excess prolita taxes. With an allowance of 5 per cent for fcmelter losses, we figure that Utah Copper, in the first quarter of 191U, produced 39,800.000 pounds of copper and that Nevada Consolidated In the name period outputted 18,000,000 jxtunds It would be unsfe to estimate UUh Copper's cost at less than 13 cents per pound. Including war taxes, and, likewise, Nevada Consolidated s cost should be placed at not less than 15 cnts per pound. With these esti-mates, esti-mates, the following calculation as to profits for the first quarter of 1918 results: re-sults: Utah Copper Estimated smelter output. 39,800,000 ixjunds; cot per pound, including taxes, IS cents. Profit with copper nt 23 12 cents, $ t,179,nn0. Nevada Consolidated Estimated smelter output. 1Mmi,l) pounds; cost per pound. Including taxes. 15 rent. I'roflt with copper et 23 1-2 rn?s. IM'Sn.O'O, Utah l;m an equity of 51 per cent in Nevada '('ot.sol'daled's farming, which increases Its direct end indirect profits for thiii period to i 1,9 lo,00o, or i $.'..09 per share. This N nt tli'1 rate i of I er u un'.im. apalnst eiirp-iit 'divldi nds of $10. -- I!o-ton New i liureau. ' |