Show I I ANACONDA ANACONA IS I IN NUMBER OF ENTERPRISES Engages in Coal Lumber Brick and O Other ler Businesses The remarkably efficient and conservative conservative con eon policy of oC Anaconda beau bean fruit fruite ji In tho the present period o of copper stagnancy Although Us Its Is name denotes denote that Its chief chIc interest lies les In copper en enterprises Anaconda has ha not not confined connel Its Us activities thus but does a a big coal and lumber business and has been for fora forn a n number of oC years ears one of or tho the largest large t manufacturers of mining machinery and firebrick In the middle and far west In addition th the tho company erected a n copper rod rd and anc wire mill mi at Great will havo have a n ca capacity capacity ca- ca Falls Mont Mont which wl c. c of or pounds o of copper rods and pounds pound of or copper wire dally daily an and is entering the tho white lead leadfield lel field field field-a feld 3 a new departure in the company's com corn pany's enterprises The white lead plant is at East East Chicago Chicago Chi Chi- cago caso Ind md and for several months the company's operations were experimental tal tol until results justified tho the erce- erce tion ton of or a n plant It Is is believed that the branch of or the will wi prove very profitable owing owinG to tho the hea heavy demand for lor white lea lead Copper ore oro usual usually contains a a. a considerable considerable con con- content of or silver siver and Anaconda Anaconda Ana Ana- conda while known primarily as a 2 copper producer Is also one ono of or the largest largest silver siver producers In the United States The Tho hl high h price of oC silver siver metal during the past pat year ear has proven a a source of ot substantial revenue to the company and greatly reduced production production tion costs During 1919 Anaconda It ItIs ItIs itis Is estimated produced approximately ounces o of A silver sl er compared ln JU b bl yuo U in that the tho average craco seln selling price of ot silver for te past past year is 1 an ounce this would mean returns from white whito metal of or 91 These earnings earnInGs are equal to aho abo t t C G cents a pound on Anacondas Anaconda's estimated copper copper production production tion ton for 1919 1519 approximating pounds and would bring copper costs down to around I 12 cents a n pound pound Estimating 1919 copper sales average average aver aver- t er age 18 cents cent a pound pound this would make It possible for Cor Anaconda to show shew a margin of or profit of or about C cents a 0 pound or A Adding to this tho the re cn revenues ues from zinc zinc royalties tolls toUs merchandise sales and its Is Income from Investments In In other companies companIes the tho total earnings should be sufficient to more than provide for tho the dividend re requirements 10 ro- ro of ot HO a share or 1906 11 1 5 on oh the o outstanding stock tho the four years years' ld period period pe pe- pe- pe nod ending December SI l 1915 earned a total of or moro mono than HO 60 60 a share The Tho management wisely pursued a n conser conservative conser conser- attitude regarding dividends and only distributed 60 2650 Consequently Consequently Conse Conse- the company be began nn 1919 lD operations operations opera opera- tons with wih strong financial resources Profit Prot an and loss surplus amounting to In addition addIton to a working capital of oC n. n The com company par Is la stabilizing Its earnings earnings earn earn- ings Ins b by exten extending Its Is activities more moro and Ind moro more into purely manufacturing fields eld and substantially reducing the ordinary risks entailed by a. a a purely mining enterprise Ise |