| Show UTAH COPPERS ANNUAL REPORT SHOWS EARNINGS OF OVER recently improved conditions in the copper industry in 1923 were shown in in reports issued today by the utah copper company and the nevada consolidated copper company two tivo of the count rys important producers says a new york dispatch of the based on the report for the december quarter and the three preceding quarters the utah copper Comp companas anys net income for last year amounted to after taxes depreciation charges for the last six months only but before depletion equal to a share on the outstanding capital stock par value 10 the 1922 annual report showed net income of only of the equivalent of a share net income of the company for the three months ended december 31 was equal to a share on the stock compared with for the preceding quarter and for the fourth quarter of 1922 low priced 1 copper affected earnings seriously seriously y in the last quarter of 1923 the price average was cents a pound against I 1 1488 in the preceding quarter in the june quarter I 1 and the march quarter the nevada consolidated copper company reported profits for 1923 of or a share on J i par 5 capital stock after taxes and six months depreciation charges but before depletion this compared with a net loss in 1922 amounting to for the quarter ended december 31 the company re ported profits of after taxes and depreciation equivalent to 16 cents a share on the stock this compared with 25 cents a share earned in the preceding quarter and 20 cents a share earned in the final three months of 1922 utah coppers production for the fourth quarter 55 showed a slight decrease of pounds asa as compared with the quarter preceding average grade and recovery was per cent and 77 per cent copper as compared with per cent and 82 per cent recovery for the third quarter the lower mill recovery for the current quarter was due in part to the fact that a large portion of the tonnage treated was extracted from some of the old scoped areas where the ore had become partially oxidized the average cost per net pound of copper produced including depreciation of plant and equipment and all fixed and general expenses and after crediting gold silver and miscellaneous earnings was cents as compared with wa 51 cents for the preceding quarter computed on the same basis the value of 0 gold gold and silver recovered and the miscellaneous earnings amounted to cents per pound of copper 1 as compared with cents for the previous quarter |
