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Show Metal Sales Make Record At Gayton 1 1 By Chic Young Blondie you DID SEALS ON MUCH THE OF A HUBBY TO HELPCBIPPLED YOU HAVE TO MAIL? 00 one-shi- interfere with regular production. The 550 level is expected to be established early in 1952, and is planned to continue de- of this new level until it is completed. steadily The Clayton last year yielded are. Production' in 1950 totaled 30,749 tons, with the north and south ends producing about I SA Copr. 1953. K lag FettLa Syncliate. Inc. Worfd right reicmd. velopment Segerstrom Named President of Tungsten Group equal tonnages. Charles Segerstrom, president Metal production last year, as compared with 1950, was as of Pershing Countys follows: Co., was elected 1951 1950 of American Tungthe president sten Association for two years Lead Cons., tons in 1,677.6 at its recent convention 1,754.2 Reno. Zinc cone., tons 629.9 1,235.7 Ajnong Nevada directors chosLead pounds en were B. W. Voorheis of Gabbs 2,391,6666 2,317,326 and Roy Hardy of Reno. zinc pounds Highlighted speaker was H. 830,850 1,510,952 C. Miller, regional director of Copper, pounds the IT. S. Bureau of Mines. He 18,136 18,475 predicted that the world shortSilver, ounces age of tungsten would probably 141,044 116,668 continue for many years despite Gold, ounces increasing American production 31.8 42.6 under a government support Total metal output from the program. property to the end of 1951 inThe speaker said that the cluded 32,306,618. pounds of lead; had agreed to buy government 9 8,069,929 pounds of zinc; at least units of tung3,000,000 pounds of copper; 1,871,-85- 4 sten at $63 a unit for stockpiling ounces of silver and 676.2 purposes. He predicted the cost ounces of gold. of mining and extracting tungDevelopment work during 1951 sten from ore will continue to other than the shaft sinking, fall.' This, he believed, - would totaled 614 linear feet and con- increase production., sisted mainly of completing wrok begu nearlies, Norman M. Smith, operating engineer states in his report. The north end Copper Sulfate drift was extended 123 feet to Production and shipments of the limit of the north ore body, copper sulfate rose 23 and 14 the 305 esat crosscut was driven per cent, respectively, in 1951, east 152 feet eastward in the as compared with 1950, and the south part of the mine and 402 uptrend continued in January, west crosscu was advanced 1952, according to the Bureau of United States Departwesterly 69 feet in the central Mines, -of ment the Interior. Shipments part of the mine. in January were at the highA major plant repair and im- est rate since some provement program was carried timemonthly 1946. Stocks at the end in out during the summer, Smith end of January were 9 per cent says, the upper powerhouse was than on December 31, Temodeled and enlarged to ac- greater were for little but commodate two additional Diesel more than sufficient two weeks power units which will increase ments at the January requirerate of power output by more than 200 shipments. horsepower. In addition new instruments were added to the power system to increase- the efficiency of power generation. In the mill two flotation cells were added to the zinc circuit and one to the lead circuit. The company balance sheet shows total as of the year-en- d assets of $416,243, and increase of about $105,000 over the previous year. Current assets amount to $217,534 and current liabilities to $100,742, of which $86,431 is for 1951 taxes payable. The annual meeting of stockholders is called for Tuesday, April 8, at 2:00 p.m. at the company office in the Scott building here in Wallace. There will be high prices as "Boyl Wipe that silly grid off hit long as customers insist on pay-i- n face. gthem. Nevada-Massachuset- . - 301,-87- - . ts Higher Tax Rates Cut AS&R Profit Hot-Dipp- ed American Smelting and Refining companys world-wid- e mineral empire earned a net income of $80,017,193 in 1951, nearly $12,000,000 more than the $68,491,328 earned in 1950, according to the firms annual report released this week. That, however, was before taxes on income. The substantially higher tax rates imposed by the revenue act of 1951 took more than 50 per cent of the 1951 earnings, reducing them to $39,742,313, almost $3,000,000 less than the net of after-tax- es 1950. $42,718,823 w, . Ku-enz-el, for . Earnings for 1951 wer equiv$6.89 per common share as compared with 37.46 in 1950. This computation is based on 5,260,000 common shares presently outstanding on. 5,260,000 common shares presently as a result of the stock split approved last Noveember. : Sales of products and service Unfortunately, the man who revenues of the Asarco firm last loses his head always keeps his year exceeded half a billion dollars, amounting to $530,817- - tongue. . 779 as against $489,718,008 in -- alent to out-standi- nk two-for-o- he : : . 1950.' : de- - Net infJ&jne, before taxes, prececiation, depletion and ob-- ; solescence was $108,820,000. U. S. and foreign income, property and social security and other taxes reduced this by $63,600 and depreciation and depletion reduced it further by $5,478. Production from the compa- -. nys refineries last year, with comparable 1950 figures shown in paraiithesis, was as follows: gold 1,196 096 ounces (1,342,431); silver, 72,370258 ounces (78,270,- -, 485); lead, 503,851 tons 578,527); I ; just been released covering the Annual Meeting Thirty-Four- th of the American Zinc Institute to be held at the Hotel Statler, St. Louis, Mo., on April 21 and 22. On Monday morning the General Outlook for Metals will be discussed by E. L. Shaner, Steel. John of the Tin, director deputy editor-in-chie- Sel-lo- n, f, Lead & Zinc Division, National Production Authority, will report o nZinc and Government Controls. J. L. Hamilton, Jr., vice president in charge of sales, Granite City Steel Co., will discuss the Outlook for Galvanized Sheet Steel in 1952 and . Ince, vice president, St. C. Joseph Lead Co., will review the prospects for slab zinc production and consumption in the current year. A report on the Institutes activities will also be I made. Monday afternoons session will be devoted to a round table discussion of The Future of Zinc Ore Production in the United States. A report on the DMPA Program will be given by a speaker to be announced later. Leaders of the general discussion will be H. A. Coy, American Zinc Co. of Tennessee; O. W. Bilharz, Bilharz Mining Co.; W. C. Page, U. S. Smelting, Refining & Mining Co.; S. S. Arentz, Combined Metals Reduction Co.; J. E. Berg, Federal Mining & Smelting Co. and F. A. Anaconda Linforth, Copper Mining Co.. J. B. Hafner, Bunker Hill & Sullivan Mining & Concentrating CO., will preside at this session. Philco Earnings Sales- of. Philco products and: services in 1951 amounted to $305,329,000 and were the second largest in the Companys history being exceeded only by the record total of $335,318,000 in 1950, it was announced today by Will maiBlauHTHTHTHT by William Balderston, president, and James T. Buckley, chairman of the board. - Wider Highways The old narrow trails where two cars could pass without colliding are being replaced with beautiful wide highways on which six or eight cars can collide at one time. : 77 Carl Anderaon1) Cliry . : x : USE EASTER J : SEALS TO HELP CRIPPLED ; copper, 414,226 tons (474,671);! zinc, 149,231 tons (145,920); zinc i nconcentrates, dust, fume and slag, 116,984 tons (119,657). Tons of ore mined was roughly the same iii both years 2,460,-75- 9 tons in 1950 and 2,453,018 : i tons in CHILDREN 4 1951. Capital expenditures on the companys operations during 1951 amounted to $17,117.-00- 0 compared with $12,021,000 in 1950. Unexpended appropriations at the year end aggregated more than double the $15,037,000 at the end of the preceding year. far-flu- ng $33,-828,00- 0, Opportunity is a fine thing so fine in fact that many of us miss it. has A preliminary program Technical and operating men of the galvanizing division of the steel industry will attend a meeting, of The Galvanizers Committee to be held on Monday and Tuesday, April 21 and 22, at the Hotel Statler, St. Louis, Mo. On Monday morning, members of the committee which is sponsored by the American Zinc Institute will attend the opening sesion of the Institutes annual meeting, scheduled for thta day, when topics of mutal interest are listed for discussion. One of the high points of this session will be tht presentation Annual of the Committees Award. Committee members will spend Monday afternoon on an inspection trip of the Fairmont Zinc Smelter of the American Zinc Co. of Illinois at East St. Louis. On Tuesday morning, the committee will hold an open session when featured speakers will include A. R. Ryan, General Electric Co.; G. F. Weaton, St. Joseph Lead Co. and G. N. Olson, Spencer Chemical Co. The session on Tuesday afternoon will be open to Committee members only, at which time there will be a panel discussion of specially selected topics. The Section on Galvanized Pipe, of which J. T. Bolger, Jones and aughlin Steel Corp., is Chairman, will hold a separate session on Tuesday morning. The Chairman of The Galvanizers Committee is J. T. May-heWeirton Steel Co. Responsible for the program of this the Twenty-Sevent- h Meeting of the Committee are R. J. Stoker, United States Steel Co., J. T. Bolger, Jones and Laughlin Steel Corp.; A. J. Cazula, Continental Steel Corp.; W. A. Armco Steel Corp; J. B. Strasbaugh, Bethlehem Steel Co. and F. Guy White, Granite City Steel Co. .CHILDBEN. LETTERS Zinc Institute To Be Held In St. Louis Galvanizers Slate Meet In St-- Louis 1 Y OP GOUBSE, BLONDIE. PUT EASTEB J NOBODY'S IN TOO DAGWOOD, Continued from Page 1 inflationary costs on the other Yeaman declares. If both are controlled at approximately the present ratios, there is every reason to believe a substantial profit will be made from the present ore reserves. At the end of the year reserves were estimated to be 129,-0tons, all above the 400 level, and the majority of it already broken and in stopes which are being mined by the shrinkage method. This is sufficient for about five years of operation at the 1951 rate of output It is expected that reserves will be substantially increased before the enr of 1952, Yeaman states. Sinking of the main shaft got underway in December and good progress is being made ft basis so as not to on a it March 21, 1092 The Western Mineral Survey, Salt Lake City, Utah 2 "U fiTVWjl iBqg Syadkm; lacWodj |
