Show SIZE OF PROFITS I ION ON 13 1 COPPER Comparative Statement Shows What Companies Near Danger Line Lne Nearly all aU of the Important copper producing companies have Issued re reports report reports ports port for their last fiscal year ear and by figuring their earnings per pound on their production It I Is II possible to see how largo large a margin exists for In a year when the price of ot the tha metal averaged about 13 cents centa as was as the tho I case cane In 1909 In the following table table compiled comple by I tho the Wall aU Street Journal Journ Is I shown the tho production of twelve of the largest I copper companies for tho the fiscal year last ast reported together with wih net earn earnings ings Ine available for tor dividends and earn earnIngs earnIngs Ings per pound on copper produced As Vs net earnings earning Include outside in inome Income Income come ome they cannot be considered as the actual mining profits upon the metal produced but outside Income must necessarily bo be Included In computing the he margin for tor dividends Net Not Net Production Profits Companies Pounds Av y Lb Lt Anaconda B D M MB 1 B B B B 9 li Cal fc A Ai C C i Queen C Kange Nev Con Osceola Osceola Quincy enn Cop Utah Uth Con l 1630 Utah Cop Year ended Dec Dee 31 1909 ended Sept 30 1909 Year ended Dec 1 1909 Calumet Hecla is not Included In Inthe Inthe inthe the foregoing tabulation because becu e It I re reports reports ports for tor Its Is year ended April 30 last last during the current month The Copper Queen reports the largest earnings per pound on copper mined but jut It I should be noted that the pro production production ducton of the Copper Queen Smelt Ing ng works totaled pounds Including the Moctezuma and custom ores oreA whereas the output of ot the Copper Queen mines was as pounds Small Smal Ones One Must Munt Disappear At an average avera e yearly early price received for Cor the metal of 13 cents a pound the above companies can cn maintain their present dividend rates rte but a drop of 0 a n cent a pound In the yearly average averle would undoubtedly mean a wholesale reduction In the dividend rates of most of the tho principal copper producing com corn companies panics There Ther are numerous smaller companies com pan IEs which would disappear from the tho ranks of ot dividend payers on the basis of copper In this connection It I should bo be noted that Utah Copper which by b installing mill mil Improvements without adding to the ground space covered by Its I large plants plant is Increasing Its It output to pounds of 0 copper annually has tas already demonstrated Its Us ability to lower the cost of ot production materially as the tho output Is Increased Its Is record for May was pounds of copper at a cost of ot about eight cents a n pound showing that hereafter It wilt will wil bo be en enabled enabled enabled to realize nalze a greater gater net profit per pound from Crom copper than It did Ser Id In 1909 from copper |