Show UTAH CONS EARNINGS A Boston Paper Figures s Them Out to Be Great A statement that the Utah Consolidated Consol-idated had on hand 1 early In December Decem-ber and at the first cut In 1 the price of the metal about 3000000 pounds of unsold copper opens the way to close estimates as to the net earnings of the company last year from copper sold says the News Bureau of Boston The company produced about 10000000 pounds of copper last year With It I was associated gold and silver of the value of about 4470000 These precious metal values paid more than half the cost of mining smelting and other expenses ex-penses and reduced the net cost of Its copper to a point not exceeding 4 1 cents a pound which Is the lowest maintained main-tained by any mining company In this country Continuing with Its deductions deduc-tions the News Bureau says I Is reasonable to suppose that the December output of tho mine way addocl to the copper on hand fit the first of the month which would bring the total o unsold iopp up to 4000000 pounds Tnklncr It for granted that tile other t5r < YUX > 6 pounds produced during the year l9i 1 l was sold at an nvoragu of 1UM cents tho profit to thc company on this wns iiU cents per pound or a total of SiO WA Against this however has to bo charged tho S cents per pound that It cost to I make tile lOOOCCft pounds or unsold copper cop-per urn If I thC S12nCOn paid for the Yam pa Extension property purchased early In the year Is added it will make a total of J2730GO This would leave I not earnings earn-ings of only 47SOOOr which Is SIYTCOO i less than was paid out In divIdends during the year Had the IOOOOXl pounds o copper been sold at J6i cents per pound It would have netted thC company J6COOOO This would hnvo wiped out the 257OCO deficiency and niter dividends of HXJ000 loft I a balance nttCr chld < ncs IOJO At 1 cents per pound this copper Is worth 220000 less 1 thaI It was at 161 ccntH and a large 1 part of this loss would have been saved to the stockholders had tho selling of Its copper bach managed as was that of tho Calumet Hecla Quincy and many others of tho Independent Inde-pendent mines If the smelter of the Utah company is kept steadily at work during the current yar It will turn out not loss than 1Z GOOOOO pounds of Copper Should this bo sold as low as 10 I cents pop pound the compan would narn 755000 which would more thnu suffice to pay two dividends of l22 each the same ns wns paid Inst year Under the conditions cited tilt companys earnings on 11cont copper would ho 552000 or a Ito less than 3 per share |