| Show wll U AMERICAN SMELTING REPORT boston commercial american smelting smelling Sm elting refining company re reports for the year ended december 31 19 1917 a consolidated net income of 1 after all charges including estimated provision for federal taxes as compared with net income for 1916 a decrease of after preferred dividends the balance of net income available for the com imon mon stock was equal to 2259 a share against 2975 a share earned in 1916 on f common stock following are aie the comparative operations alfor for the year 1917 1916 total income taxes adm and res exp eap 0 disc deduc depreciation I 1 life ins for emp int and disc ciscel charges total net income dividends balance common dividends surplus total surplus special P and loss surp the report shows gross income of 18 in the six months ended june 30 1917 and a 33 13 1370 1 3 reduction in the last six months of the past year the exact figure of gross income being the total gross income for 1917 shows an increase of over the preceding year according to the report the peak of high prices for metals excepting that of zinc was reached in the first six months but since then there have been very serious declines in all metals copper fell off from 33 cents to 23 2312 vz cents lead from 11 cents to 5 cents silver from to 78 cents and zinc from 13 to TVs cents during 1917 the company compan y receipts from sales of metals aggregated of which was for copper sold gold sales produced silver i and lead payments included for ore and bullion purchased expenses and taxes the stockholders received in dividends last year on december last cash on hand and in the bank amounted to compared with in 1916 the decrease is more than offset by the liberty loan bonds purchased by the company the company produced pounds of copper last year against in 1916 the silver output was ounces a decrease of about ounces the increasing war demand for sulphuric acid in the manufacture of explosives stimulated the companas comp anys output of that product the amount produced last year to talling 66 pounds against in 1916 |
