| Show UNITED STATES S R M CO HAS GOOD YEAR IN ALL departments united states smelting smelling refining and mining company for eleven months ended november 30 reports consolidated earnings after interest of from these earnings there have been deducted reserves of for depreciation depletion and amortization leaving estimated net profit of after deducting the eleven months dividends on united states smelting smelling Sm elting preferred stock final net profits are equivalent to per share on the shares of common in completing the profit and loss account for the year december earnings and miscellaneous annual adi adjustments ments will increase the profits now reported the net profits for the year after reserving for federal taxes and after taking additional reserves of approximately fr for further amortization of property and other purposes will be sufficient to provide the dividends on preferred stock and leave a small addition to surplus additions to property and investment account ud ing t the he recent purchase of the remaining rema remaining inin b interest in in the hammon consolidated gold fields a gold dredging property at nome in which we had previously acquired approximately a 40 per cent interest involve expenditures expend itu of approximately during the year and if in the immediate future the operations at the metal mines and at mid midvale vale and j kennett smelters shelters sm elters in the united states have resulted resul gilted tea ia substantially increased earnings for the eleven months mon alls las period as compared with the corresponding pe briod year principally p due to increased production an and d better D grade of ore from the companas comp anys mine curtailed j f the output the furth arther er cl at coal properties was in 11 j throughout ghost the ilie decreased demand me year cui because becaas mccause e of ui the me ui u i the western states and this together with lower prices P resulted in further reduction of income from this source su I 1 1 coni production for the eleven months was tons tolls c last pared with tons in the corresponding period perico coal year during the last three months the demand for w 10 has improved and there has been some the output the income froni from railroad operations r yea slightly better than for the corresponding period last lasi beio ha e the earrings from the mexican properties T c more than maintained the output for the eleven per e t of this year will average ampro approximately xinia tely tons ton month which compares with about to tons ns per during the same period last year this in increase crease ln in resul eted te dd n r to together with somewhat higher silver prices has 1 in in better earnings 1 y |
