Show N NEVADA E VADA consolidated REPORT the nevada consolidated copper company operating at ely nevada has mailed its regular quarterly report to its shareholders the report covers the second quarter for the current year ending june 30 during this period the copper output amounted to pounds distributed as follows april may june pounds the report follows in full for the quarter just ended the ore treated averaged 2 per cent copper as against per cent in the second quarter and 2 per cent in the first quarter of this fiscal year the cost per pound of copper for the quarter after writing off the depreciation of the steptoe plant is cents as against cents for the preceding quarter you will note under liabilities bili ties a credit to metal reserve account of this represents the amount received during the quarter for our copper in excess of the value of the metal at which our profits were figured the directors consider the results for the period which show a surplus of after payment of dividend and after writing off depreciation of the steptoe plant in the amount of as very gratifying as well as the low cost of production which has been reached during the quarter for the nine months of the fiscal year the operations have resulted in the production of pounds of copper and a net credit to surplus account after providing for three quarterly dividends and for depreciation on the steptoe plant of your attention is also called to the retirement ti of all bonds except one bond which has not yet been presented for redemption demp tion the mortgage securing the bond issue was cancelled june 9 1910 at the date of this report july 28 1910 there has been exchanged of cumberland ely stock under the terms of the offer made to stockholders of that company last november 1 shares out of a total of during the qu quarter after your directors authorized zed the opening of the liberty ore body which will further increase the available ore reserves and the work of installing the necessary tracks and other preliminaries limin aries for removing overburden is progressing rapidly the company will then have open the eureka pit liberty pit and ruth mine three sources from which to draw its ore profit and loss for quarter ended june 30 1010 1910 earnings from mine investments and miscellaneous dividend videna no 3 net surplus for quarter less depreciation steptoe alt net credit to profit and loss Axe asseln tm property and development investments and stock materials and supplies accounts collectable collect aole metal on hand and in transit cash carah Lt liabilities abilities capital stock bonds outstanding accounts payable unpaid treatment on metals metal reserve 67 surplus 97 profit and loss |