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Show DECREASE II PROFITS BF M CON. MINE Adverse Conditions Worked Heavily Against Dividend Record. Rec-ord. According to Report. .Special to The Tribune. NEW YOUK, April 7. In. submitting tho annual report of tho Utah Consolidated Consolid-ated Mining company for the year ended December 31 last, President Urban 11. Broughton says: ! "During tho months of June, July and August, by reason of coai and car abort-ape, abort-ape, tho operations of the company's smelter were seriously Interfered with and at the same time the grade of ore received re-ceived from the mine was below the average, av-erage, which resulted in a much reduced production at a very high cost. Later both tho grade of the ore and the cost of production became normal. "In December a decision of the circuit court of appeals was rendered which had the effect of closing down the company's smoker, which went out of commission on January 1, U0S. in January the company com-pany mud" a contract with the Garfield Smelling company for the treatment of $00 tons of ore per day, which is :ibout seven per cent per year more than the amount the company treated at ita own smelter during ll)0fi and 1007. This contract con-tract is for a period of one year, and an at the option of the company le extended ex-tended for a .second year; it is advantageous advan-tageous to the company. "The company's net profit for tTic year was equal to $3.n:t per share, as compared with a profit of $9.15 per share In the previous year." The year's statement: Not profits $1,179,413 Previous surplus 2.451. 22S Total surplus .1,60,6-11 Dividends 2.100.000 Final surplus 173(1.641 Profit and loss surplus 1,530,641 |