Show Bm BIG CONCERNS RAPID GROWTH i I Wonderful Exhibit Made in the Annual Report of United States Company COST OVER POINTS ABOUT CORPORATION THAT WILL SURPRISE YOU Copies ot of the annual report of ot the United States Smelting Mining Refining Refining Refining ing company reached the local offices of ot the company in yesterdays mall mail Besides the elaborate and comprehensive financial statement there are detailed d dt reports from President W V G Sharp and Manag Managing ing Director A F Holden that present tho the affairs of at the company and the mag mug magnitude and value alue of oft holdings in such sucha a II 1 manner that he who runs rune may read Without any attempt at elaboration and without any picture drawing It Is shown that the institution is now about the big biggest biggest biggest gest thing of ot the kind in the mining and smelting melting world The exhibit is one ono that calls rails vividly to mind the declaration made by Managing Director Holden about three 3 rears ears ago He Ho was then discussing or rather outlining some of ot the he t things he lie had bad in mind on the line Une of or expansion in inthe Inthe inthe the operations of the tho United States Min Mining MInIng Mm ing company and the United States Smelt Smelting Smelting Smelting ing company It was waz suggested that he must be contemplating making the tile com corn companies companies panics and particularly the United States Smelting company a strong trong competitor of the American Smelting Refining com corn company pany panr There is where you are wrong said Mr r Holden When Then our plans are fully matured it will be more nearly proper pro er j to refer to other companies as competitors of ours How Jiow It Looks Today The United States Smelting Mining Refining company loda toda owns properties which the report shows cost less the surplus turned In by jy the United States Mining company while Its capital stock liabilities amounts to only a fact indi indicating eating cating that there Is no water In this powerful organizations capitalization What hat bat does the company own Well ell to fully appreciate what its holdings are It tt would be necessary to read the reports in which the numerous properties are aro de do described described scribed in brief but lucid detail Hero Mere is isa isa a 11 skeleton outline The Tho parent corporation owns own the United States Mining company comp nJ the United States Smelting company 95 per cent of the Cen Mining company the United States Stores company Un United ted States Lime company United States Met Metals Metals als ala Refining company compan interest in the International Metals Selling com cam company company campany pany a majority of the tie stock and bonds of the Niagara Mining Smelting com corn company company pany all of ot the tho preferred and a 30 majority of the common stock In the American Exploration company c and substantial holdings in the tha com company company pany pam together with of the theReal theReal Real del Monte properties In Mexico that cost C st shares and bonds in the Pe Peruvian Peruvian ruvian Mining Smelting Refining com coin company compan pany pan and last but not least the Mam Iam Mammoth Mammoth moth Copper Mining company with Its magnificent smelters at Kennett CaL Production and Earnings In mentioning the production or of the nu numerous numerous f properties owned so 50 much mue space Would be required that only the local mines and the Mammoth will be covered Their combined output was tons the metal contents of or which were in pro proportion proportion proportion portion of ot 3 per cent copper C G per cent lead 18 IS 8 per cent silver and 21 per cent edit gold Of Ot the tonnage mentioned the Cen contributed tons and increased its reserves nt at the same time lime me methe the Bingham mines added tons and the balance came from the Mammoth and it is presumed some of o 0 it from Richmond Eureka The gross cross earnings for tha the year ear amounted to while the net balance from tho the Years operations avail available available available able for dividends was At all of the properties of the th company Including Including ing the mines and smelters mills and re refineries refineries fineries In this country and the proper properties ties in Mexico the company employs men These and many other points In the re report report report port make it plain that the United States Smelting Refining Mining company is isa Isa Isa a pretty formidable institution l Its smelters smelters tern In this valley have a capacity of handling 2500 tons of ot ore per day at the present time and that Is about GOO tons more than the American plant can han handle handle handIe dle dIe so BO It begins to look as though Man Managing Managing aging Director Holdens declaration about j competition was waa working out on the lines ho he mentioned three years yeas ago |