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Show IE COMMENTS ON THE UTAH COPPER 1 The following statement has been Is- ti sued by tho firm of Haydon, Stone & Co. p in regard to the Utah Copper property of r Bingham: j The Utah Copper company is the for- t tunato possessor of the world's biggest . known ore body. Of late It has been pro- duclng copper at tho rate of about 100.- r 000,000 pounds per annum, as witness its i quarterly statement for the quarter end- J lng June 30, wherein is shown an output of 25,34,052 pounds of copper, secured at a cost per pound of 7.53 cents. "We know of no mine in this country showing such favorable costs on a like volume of pro-' pro-' ductlon. Tho net earnings from the Utah Copper company's own operations for the period abovo referred to were $1,192,551. to which must be added the income of ?35M2S from its investment In Nevada Consolidated, making the total j Sl.5iS.97G. This is at tho rate of over $6,000,000 per annum, or $1 per share on ! tho company's entire 1,510,000 shares. But the Utah Copper company Is shap- lng Its affairs for a vastly Increased scale I of operations. The work of enlargement is progressing at both tho Magna and Arthur plants, which will give them a total capacity of approximately 18,000 tons of ore per day, thus Indicating a contemplated scale of production of about 1-10,000,000 pounds per annum and net earnings of about $5.50 por share on a 12i-ccnt metal market. The Utah Cop-' per company has never enjoyed the advantages ad-vantages of a satisfactory and adequate transportation service, as applying- to the handling- of the ores from the mine to the mills, and it Is for the double purpose pur-pose of solving this problem once and for all, and of making tho fullest provision pro-vision for the handling of the future maximum shipments that It has caused to ( be organized the Bingham & Garfield Railway company, all tho stock of which, savo qualifying shares of directors, lb-hold lb-hold In its possession. Tho Bingham & Garfield railroad will be seventeen miles In length, or eleven miles shorter than the Denver & Rio Grande line, over which the Utah Copper company's ore shipments arc now being forwarded to its concentrating plant at Garfield. Metal Market. The metal quotations for Saturday, posted by McCornlck & Co,, wore as follows: fol-lows: Silver, 52Jc; lead. 54. 40; copper. 12 5-lGc. |