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Show OeWoP cio is issued Output of Great Mine Almost Al-most Doubles That of Previous Year. The annual report of the Chino Copper Cop-per company for 1913. made public at the meeting of the directors held at Portland. Mo., April 17, shows net earnings earn-ings of 53,234.034, as against 52,176.904 In 1912. This was 33.75 a share iu 1913 and $2.80 in 1912. There were produced 30,51 1,061 pounds of copper at a cost of S.49 cents por pound in 1913; 1912 production was 27.77G.0SS pounds nnil cost was 7.G9 cents. Tho Income account compares as follows: fol-lows: 1913. 1912. Coppor produced, lbs. 50,511, fifil 27.77ti.0SK Recelpta from cop...57,G21.419 SJ.344.2(U Opcr. cxp 4. 131.12G 2,132,093 Net op. profit 3,190.293 2,212. IG9 Other Income 137.533 123,133 1 Total Income 3.327.S26 2.337,302 ; Interest chargos .... 93,793 1 00.398 Surplus 3.2.14.031 2.17(5.904 Dividends 1.919.070 ; Surplus 1.102.S17 2.17G.904 Prov. surplus 2,461,350 2S4.44G Adj. credit 179.000 P. and 1. surplus 3, 743.157 2,461.350 Equal to $3.75 per almro on 830.510 shares outstanding, com pa rod with $2.S0 on 777,420 shares previous year. Tho general balance sheet of the Chino Copper company as of December 31, 1913, compares as follows: ASSETS. 1913. 1912. Proporty Jl.916,457 ?1J13,717 Exp. for const, and equip 4.G9I.3G9 3,907.701 Develop, of property.. 855,817 739.21S Investments 190.3G0 118,540 Stripping oxponso ... 1.31G.454 S37.3S2 Mnt. and sup. on hand o37,6So 375.119 Accounts rccelv.. etc. 141,229 140,139 Value- of copper on hand, oro nt mine dnmps. etc, 2,457,395 2,057,060 Cash 124.3S2 33G.979 Total $12,293,181. ?10,4S3,S59 LIABILITIES. , 1913. 1912. Cap. stk. outstand'R.f 4.302,700 33.8R7.100 First mortg. bonds.. 236.500 2,314,500 Notes payahlp 11 o Accts. payable 355.420 229.189 Accrd. taxes, Ins., etc. 64,850 12,717 Freight, treat, and rof. charges 571,779 337,899 Res. for doprec 212,147 Surp. ffrom sccur.) .2.800.502 1,243.102 Profit and loss surp. 3.7I3.1G7 2,461,350 Total 512,293,181 510,485,850 Charged to surplus for 1912. President MacNell says: No pronounced attempt was made to develop increased tonnage, hut nevertheless sufficient drilling' was done to Indicate an added development develop-ment of ore In excess of an amount treated for the year, which results in an available tonnago of over 90.-000,000 90.-000,000 tons as of Janunry 1. 1914, of an avcrngo grado abovn 1.8 per cont copper. During tho year gross production of copper amounted to 53,170,145 pounds. This output was produced with tho plant operating only four sections out of flvo for the first tlvo months of tho year. Total tonnago milled for the year. 1,942.700 tons, Is equivalent to nn average for tho year of 5322 tons per day. Operation of tho plant for tho last seven months of tho yenr has clearly demonstrated an average- capacity considerably In excess of 6000 tons per day. Average net cost of copper produced pro-duced during- tho year, including all operating oxpensea of ovory kind, transportation, milling; smelting; and selling, and crediting all miscellaneous miscellane-ous Income, wad 8.49 cents per pound. The groatb Improved financial result re-sult for tho year Is tho be3t indication indica-tion that tho methods employed, both as to mining and reduction, are continuing con-tinuing to prove successful and satisfactory; satis-factory; and, whllo the costs of production pro-duction por pound during- tho j'ear 1913 wero somewhat higher than In tho previous year. It appears from the operating report that tho entire property prop-erty is in position to treat its full tonnago continuously under conditions which insure uniformly improved, results re-sults for the future. An increaso of 30 per cont In th output of copper per annum over the production of tho year Just ended can be expected with tho present perfected per-fected nnd completed plant. |