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Show Ij Tennessee Copper Company Is j in Position lo Combat Metal Weakness. I HALF A MILLION FROM THIS BRANCH Ore Tonnage of Property Now in Sight Is the Best in Its History. Tennessee Copper's gross earnings for Us year ended December 'i last of ?517,-157 ?517,-157 arc an increase of ?U9.50 over the previous year, and not earnings of $445,-3S7 $445,-3S7 available for dividends, aro an Increase In-crease of $1 05.082 over tho preceding year. The gain in earnings came chiefly from 'prollts on acid sales, since the year's production pro-duction of copper of 12,429,001) pounds was approximately 1,500,000 pounds smaller than lOOD's production. While tliero was a small reduction In the cost per pound of copper produced, the saving was considerably con-siderably less than the falling off of tho average selling price of copper In 1910, as compared with 1909's average selling price, says the Wall Street .Journal. Doubtless there wore good and sufficient suf-ficient reasons from the company's standpoint stand-point for lumping the gross profits for the year into a totnl of $547,157, but the report, from the sharoowners' ,-polnt of view, would have been much more satisfactory sat-isfactory if, as last year, the company had given a detailed income statement and had sot forth the selling price of its metal, along with the costs as the majority ma-jority of the mining companies aro now Results of operations during the last seven years are given In the following tabulation: Year Pro- Cost Total tended ductlon. Per Net Dec. ::i. (Pounds). Pound. Profit. 1910 .. ... 12,429,009 lO.G-lo 445.3S7 1909 14.05S.954 lO.CSc 1139,406 190S 14,404,536 10. 59c :i2i.7fiS i90i; li.aia.rini io.9ic S21.231 1907 12,599,019 11.79c S00.634 1905 7.977.9S2 9.28e 452, 10G 1904 S.H57.C97 10.34c 1S6.99G Total .. .... Si. 1G6.S37 10.60c .1,37:1,628 i-'iiiee. Incorporation in 1S99 the company's com-pany's dividend distributions have totaled S2.(it)G.250. the rates and amounts being as shown herewith: Year. Hate P.C. Per Share. Amount. rio $i.5o ? .'oo.ooo 1909 5 1.25 250.000 J90S 10 2.50 500,000 R 1907 13 2.25 050.000 I 190C 5 .1.25 250.000 1905 1.25 21S.750 H 1904 5 1 .25 21S.750 gSI 190:i 5 1.25 213,750 ffl Total 54 $13.50 ?2, 60(3. 250 The balance for the year of approxi-mutely approxi-mutely $1'J0.000 available for the profit and loss surplus was reduced to $20.3S7 by the creation of a. general reserve fund of $125,000, so that the company's sur-p'us sur-p'us now total $1,321,379 and Its reserves, Including $227,000 set aside for deprccia-BH deprccia-BH lion $10,04G for liability insurance and H tho fund before mentioned totals S362.04G. DHI Tcnncscc Copper's ore in sight at the I date of the annual report totaling l.58o.- BH '''I tons, are the largest ore reserves it HHJ has ever shown. What the company Is Ml able to do under the various phases of HKl the copper market seems to have been HVn well demonstrated during the last ten J years. But the acid end of the busi- n ness Is new, and according to present in- H dilations the company will make about WM $500,000 from that branch of Its oper- mm ntions this year. If the acid plant comes up to expectations the stockholders will Wmm not have to wait for an improved metal Bl situation before receiving larger returns f on their holdings. Ore Shipments. B Tho Utah Ore Sampling company on i Saturday released five cars of ore from 1 Utah and three from Nevada camps. |