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Show REPORT IS ISSUED DY TIE MP PER CD. Figures Show Highly Satisfactory Satisfac-tory Condition of the Great Mining Company. Special to The Tribune. NEW YORK, April C6 - -The pamphlet report of the Utah Copper company for the fiscal year ending December 31 has been issued. The income account net operating profit is $1 501,900; income, fl,-76B,9rtfi; fl,-76B,9rtfi; total Income. $6,268,895. Interest charges, f 20,966; balance. Jfi,2?.7,!)2D; dividends, divi-dends, $!. 70.1, 022 . surplus; 11,634,907; previous pre-vious surplus, jr., tit6. 539. total surplus, 15,231,446; written off, $2,500,000; Dual surplus, $2,781,448; copper produced, 98, 914,419; sold at 12.6488 cents; gold pro-duced, pro-duced, ounces, 40,202,916; sold at $20; sil-ver sil-ver produced, ounces. 866,908.96; sold at 63 cents. Balance Sheet. The combined balance shsel Of Hie Utah Copper company and the Bingham & Garfield Railway Company, a:-' of December De-cember .'II last, shows Clirrcnl assets of 82,624,620. compared with 84,639,583 on the corresponding date of the previous year current liabilities of $1..".:'.2,096. contrasted con-trasted with 81.606,624; surplus, 16,311 -020. against $6 988,980; undivided profits. $2,8127742, contrasted with $3. 696. .".39. and total assets rind liabilities of $28,90ti,8yS, an Increase of $461,725 from the previous year. The report states that the net cost pr r pound of copper produced was 7 v "." cents, against 8.069 cents in the previous pre-vious enr. The profits resulting from the operations was based upon a price for copper of 12.6463 cents a pound; of gold at $20 an ounce, and silver at 53.3 cents an ounce. There Is every assurance assur-ance that further development will prove the existence of larce additional ore reserves. re-serves. The avurage value in copper contents on the entire deposits remaining la 1.632 per cent. The average of the ore nulled during 1911 was I.jl per cent. Tho average av-erage for the year 1910 was 1.54 per cent. Railway a Success. The Bingham & Garfield railway was finished and commenced Operating In September, 1911. and from both the physical and financial standpoint has proved satisfactory and fully up to the predictions made at the time it was projected pro-jected The result of operations to date Indicate that With the tonnage It Will he called upon to transport after the middle mid-dle of the present ysar it will show earnings earn-ings (hat will indirectly result In reducing re-ducing the cost of copper i cent a pound. The cost of underground development tot the year amounted to 15.66 cents aj ton on all ore mined from under ground Development rests applying to all ores Shipped from the mines. Ivoth from underground under-ground and surface Operations was 4.11 cents a ton The COS! of churn drill de- i VStOpmeni during the year was 1.1 cents a ton on the total ore produced from both sources. The cost of both under- ground and BUrfaCS development work I therefore, amounted to 5.3i cents a ton Of ore mined. The whole Of this coal ! was charged to operations and Is In - I eluded In the per ton mining t ost for the year. K. rt Babbitt was eicted a dlrsctoi of Utah Copper company, succeeding the I latfl ESrnst Thelmenn- Oother directors were re-ejected. |