Show DONT LIKE TRUTH ABOU ABOUT OUR COPPERS Eastern Journal Refuses to Accept Plain Figures of Ac Actual Actual Actual Performances Severe Severo criticism was recently visited Isled upon Hayden atone tune Ac Co 0 by b the Engi Engineering Engineering nG Mining Journal on account or ul extravagant claims alleged to have been made matte oy ny D them of or production productIon tion lion and large tonnage of the tho porphyry copper mines mmes The he journal pointed out that such wore were hurtful to tu tho producers which la Is 1 no doubt true tre That only facts were wore dealt deal In by hayden layden Stone it Co 0 Is made mado known with wIt considerable emphasis however In the current weekly market letter leter of ot that house It says BYS in part partIn partIn In tho the matter or of Miami and Utah Uth Copper costs coats coat which are cited as ns espe especial especial especial cial examples it la is II quite quie true tre that 9 I cents cent a pound is the public estimate that Mr Channing hn has made of Mi ML 1 amis costs cost but it I hould be noted that this is practically the maximum cost of ot operating If I the Miami were wore to obtain a u cost of 0 8 or 7 cents a 0 pound it I would not Impair Mr standing as n an n engineer one whit be because because cause causo ho had previously made an nn esti estimate est eStimate mate of or 9 I cents but rather strengthen it because of or his conservatism con Mr Channing however has ham made the state statement mont ment that Miami should recover 40 pounds of copper a ton This T ls recovery and a cost of ot 71 n coats cents a pound pct nd allow alow for a u cost COlt of 3 per ton of or ore It I would indeed be strange if i the Miami were not able to Its It ore In Including eluding every expense for tor 3 per por ton ton Last year Utah Copper handled Its ore for less than 2 and the only dif difference dl ference between Utah Uth copper and Mi Miami 11 ami favorable to Utah Copper Is l in Inthe tho the cost of mining and here thore there is surely Burely not a difference of 1 per ton Costs Coll As to Utah Copper our statement of costs has to do with what they the are not with what they were were It IB is quite Quit true that the cost of ot this company as the Journal states In 1909 was as cents and even In the first quarter of 1910 was waB 84 The month of March however was the tho first month in which this company showed Us Its Is true truo ability under present conditions The output increased in round figures from rom pounds In February to pounds In March the actual cost of 01 production in the latter month including IncludIng ing lag every ever Item was wa as cents cent Finally FInaly to sum Bum up the whole thing thing our position in the tho matter may bo be stated state in the tho old adage that the tho proof of the pudding is In tho the eating Our predictions made years ago before a I single pound of copper was put out regarding tho the two present producers In this group Utah Copper and Nevada Consolidated has hns been more nore than borne out In every overy respect In a 0 letter Issued over our name for tor instance September 1906 1901 regarding the tho Nevada Consoli Consolidated ConlU Consolidated dated Mr fol rol follows follows Channing was as quoted as a lows I 1 therefore am of the tho opinion that one may safely figure on a a dally daily daly production of 2000 tons of ore for a n great many years cars to come and there thoro thorois is a u strong possibility that this pro production production ducton might even be increased to 2500 2600 or per day without mate materially affecting tho the ore reserves And again From the above It will HI bo seen that the net cost of or copper por per pound in New ew York York deducting the tho value of ot the gold and silver produced will wi be 01 cents por per pound which is l a vory vary good figure compared with other cop copper copper per producers Today Toda Nevada Neada Is treat tret treatIng ing better than tons or ton ore dally daily dalT and Its Is cost per por pound for the tho year yer ended ende Sept 30 0 1909 1900 nOl when only a II por portion portion I tion ton of Its It plant was wa In operation was and in different quarters quarter it has ha shown hoU a u cost of loss lose than 7 cents II a pound Hoir lon Dividend Compare In a 0 letter leter that we wo Issued In 1907 1007 regarding Utah Copper we said that with tho the entire plant operating the product of this company should be bc In Inthe inthe the tho neighborhood of ot pounds of ot copper per annum and further We Ve regard regald the ability of ot the company to produce at 9 cents at the present time as extremely satisfactory and In Indicating indicating Its It complete success In pro producing producing producing at as low lov a II cost as a 8 cents a 0 pound as time goes by b Looking at the matter mater in the tho broad bread broadest broadest est way wa the tho fact is that Utah Copper and Nevada Consolidated have a 0 com corn combined combined output of 0 over pounds of copper por per annum and are aro paying dividends to their shareholders on this metal market of or over per annum This Is just about to the dividends paid in 1909 by b all 01 cuO the copper mining companies In tho Lake Superior district of Michigan though their combined annual output Is 18 about pounds greater Geater than that of or Utah Copper and Nevada Consolidated |