Show UNITED STATES SMELTING united states investor the fourth annual report of the united states smelting smelling Sm elting refining mining company is everything which stockholders could expect and is a refreshing one at this time when it seems to have become the practice of several mining companies to make such relatively poor showings according to this report for the year 1909 the united states smelting smelling Sm elting refining milling company shows profits of after having deducted for depreciation improvements prove ments and reserve this compares with a profit of for last year after subtracting the charges to depreciation improvement pro and repairs of for the earnings of all the companies after the cost of production expenses of selling and the repairs have been charged off and before depreciation administrative and legal expenses and the interest on the debentures of the united states mining company had been deducted we find a an n amount which compares with in 1908 dividends of on the minority stocks of the subsidiary companies or the regular seven per cent on the preferred stock and or four per cent on the common sock were paid during the year A total therefore of was declared in dividends the amount left to surplus after the distribution of dividends etc was adding this surplus to the amount which the common stockholders received we find that the total earned on the common stock was or per cent if we include the deducted for depreciation cia tion improvements and reserve we find that the company earned on its common stock or 1275 per cent during the year a new acquisition the needles mining smelting smelling Sm elting company was purchased from the arizona mexican mining smelting smelling Sm elting company this purchase included the smal smelting smelling sm elting plant at needles california and several small mines near kingman arzona Arf zona the company has been making improvements on this plant and they state that they expect to begin smelt ing operations before long adjacent to the smelter a ton concentrator is being constructed ted the wisdom of this purchase cannot be passed over for situated as it is it is naturally tributary to a large territory in california and from a mining point of view it promises well As a matter of fact the growth of this needles plant in the past is said to have been retarded by lack of proper milling and smelting smelling sm elting facilities these facilities however the company now proposes to provide frederick J lyon vice president in charge of operations says in part there is sufficient tonnage in sight in the bingham utah nunes to insure regular shipments on the present scale for a number of years what little exploration work is dons done meets with gratifying results and the value of the ore was considerably enhanced by the installation of a concentrator at midvale utah of the huff electrostatic process of separation at the Cent centenial eureka mine prospecting was carried on with satisfactory results the shaft was sunk to a depth of 2200 feet and the shipments of ora ore from this mine amounted to tons at the midvale smelter tons of charge were treated during the year and the lead smelter operated to its full capacity most of the time at the real de monte and pachuca mines in mexico the extraction of ore amounted to tons of milling ore and 1579 1 tons of shipping ore |