Salt Lake Tribune | 1910-03-13 | Page 34 | Nevada Con. Report Shows Small Deficit

NEVADA Gil. REPORT SHOWS SMALL DEFICIT Cold Weather Hurt Production, Though Costs Were Kept at Low Mark. George 1j. "Walker, as quoted over the Pollock wlrer, Saturday, says regarding Nevada Consolidated: "Nevada Consolidated Consoli-dated has Issued a report covering Its operations for the closing quarter of 1909, The report shows net earnings from mining and smelting operations, and the income from investments amounted to $730,034; Interest accrued on bonds, etc.. amounted to ?27,16C, and dividend No. I of 371 cents per share, calling for $743,043, together exceeded earnings by $33,(101. This small dellclt was flue to a heavy falling off In the company's production pro-duction In the month of December, occasioned oc-casioned by the severely cold weather, which froze the ore In the cars iu transit and delayed unloading. "The amount of copper produced during dur-ing the three months amounted to n,-969.701 n,-969.701 potinds, of which the October output out-put was 5.162,462 pounds, November. 4,610,975 pounds, and December, only 4,196.324 pounds. Notwithstanding the decreased output in December, It appears that the company's copper was produced for these three months at an average cost of less than 8 cents per pound, as net earnings show a net profit of about 5.7 cents per pound. Had It not been for the extremely cold weather, a cost of about 7 cents per pound would probably have been shown lower than that of any other large producer In the United States. "I understand that about 950.000 shares of Nevada Con was turned In for exchange ex-change Into Utah Copper."