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Show RflY C0W7 SHOWS mmi Production and Profits for 1913 Both Show Big Increase. Ray Consolidated in the year 1913 showed a net profit of 52.675,193, or $1.S0 a share, as compared with $l,D2P.2fi2 In previous year, or $1.30 share. Production Produc-tion amounted to 52,341,023 pounds of copper, at a cost of 3.7S36 cents per pound; production in 1912 was 34,674,27o pounds, and cost 9.S281 cents per pound. The Income account for two years compares com-pares as follows: Operating revenue 1913. 1912. Copper produced ....37.S47.7S4 $5,467,290 Gold and silver produced pro-duced 51,935 S.26S Operating cxponae Mining and milling... 2.90S.342 1,992,808 Freight and treatment 2,059,411 1,455,155 Selling commlMton .. 79.0S5 55,372 , Kxtlniruishmont . .. 295.K02 153.025 ; Net operating profit.. 2.497.21X 1,814,206 ; .Misc. Income ..... ., 377,097 29U.755 i Total lncomo 2,574,310 2,110,981 Interest on bonds, etc 199,123 181,099 Xct profit for yenr. .. 2,676,103 1.929,202 Balance sheet shows surplus of quick assets of $1,542,000, compared with $1,464,002 a year ago. President's Report. President Aldrlcb says: Tho closing months of tho year witnessed practical completion of all construction and equipment for the treatment of at least 8000 tons of I ore dally. Sales of coppor were made at srnss prlco of 15.371 cents por pound, or, after deducting delivcrv charges, 15.201 cents. Tho difference between this price and tho figure of 14.991 cents, at which Income Is computed. Is duo to reducing to a lower valuation val-uation tho inventory price of our unsold copper, which stood at the end of tho year at 14 ccnt3 per pound. A depreciation chargo amounting to $276,72(1 was made against general income. This Is thy first year such a depreciation chargo has been made, for tho rcamm that In all provlons years tho expenditures for now con-stnicTTCh, con-stnicTTCh, for maintenance and improvements im-provements on tho plants wero manv times greater than any possible depreciation depre-ciation which could havo accrued. This depreciation charge. which amounts to 5 per cent of the cost of the Improvements, creates a reserve for tho extinguishment of tho improvements im-provements account In advanco of tho exhaustion of tho mine. Taxes paid In Arizona during 1913 amounted to $140,319, an increaso of nt.-arly $90,000 over the taxe3 paid during 1912, and equivalent to one-sixth one-sixth of a cent per pound of copper produced during tho year. Big Tonnage Developed. Managing Director .Tackling say3: There wero mined during tho year 2,360,007 tons of ore, averaging 1.72 por cent coppor: total developed tonnage ton-nage remaining Is 7S.380.966. Tho limits of tho oro bodies havo by no cans been defined cither laterally or as to depth, and this Is particularly tnio In the western section, whero at several points drilling operations for development wero discontinued in ore. It in reasonably certain that a moderate mod-erate amount of drilling would disclose dis-close oro roscrvos much greater than tho quantity of tho oro that has been mined since tho beginning. Cost of mining ore for tho year was 72.23 conts per ton, against 77. Go in 1912, Results of completely mining oat some additional small areas fully bear out our expectation of recovering recover-ing a very high percentage of ore reserves and copper contents as calculated cal-culated from drilling and other development. de-velopment. Reprcscntativo areas so completed during the year havo shown productions up to 60 por cent of total estimated content. Oro treated for tho year was 2,365,-296 2,365,-296 tons, a dally average of 6480 tons, and comparing with 1,566,785 tons for 1912. Ore Better Quality. Average copper content of the ore was 1.719 per cent, compared with 1.677 per cent for 1912; recovory was C6.09 per cont, or 22.723 pounds of copper per ton, compared with 22.9 for the previous year. Recoveries wero affected adversoly by a considerable consid-erable amount of oxidized ore. coming com-ing at times from upper levels, and also by irregular operations of tho mill during the last half of tho year, whllo improvements were In progress. prog-ress. Cost of milling was 51.93 cents per ton, compared with 46. 8S in provlous year; this is duo to Intermittent operations op-erations of the plant whllo Improvements Improve-ments woro in progress, and to absorbing ab-sorbing errpenso of theso Improvements Improve-ments into operating costs. Cost por pound of copper produced pro-duced wna 9.7836 cents, compared with 9.8281 ceutH In previous year. Theso costs include charge of 12J cents per ton of oro treated, or over J cent per pound of copper, for extinguishment ex-tinguishment of mine dovolopment expense. ex-pense. MIno Is fully and finally equipped, nnd Its equipment. Is operating aa sufficiently as could be desired. Tho outlook for 1914 is that the percentage of Increaso in copper production will bo almost as gnat over 1913 as was tho Increase that year over 1912. Thero will undoubtedly undoubt-edly bo a marked decrease In cost - of producing copper during the coming com-ing year. No York Mining Stocks. Logan fc Bryan, members of all leading lead-ing exchanges. 160 South Main street, furnish tho following, received over their privato wlro yesterday afternoon: N-EW YORK LISTED STOCKS. I Salca.l U. L. Clse Chino ... 2.900 40 3DR 40 Alaska Gold 3,800 26E 251 26? Inspiration 300 162 16 J 161 Miami Copper ioo 23 23 3 Nevada Con 1,500 141 14 ui Ray Con 2,500 20i 29i "01 Tcnn Copper 2.300 33? 32i 331 Utah Copper 2,000 541 54 543 Studcbaker, com. .. 700 30 29J 30 Ontario Silver ....... 2J 2J 25 NEW YORK CURB RANGE. I Sale.'. I L. Clse Braden Copper 1,200 $ 71 8 Nevada Hills 200 25 25 "5 Belmont .'. 350 7 7i 7i Tonopah 300 6 fil 61 Con Copper Union... 1,000 1J 18 12 Jim Butlor 2,5001 93 91 91 ! West End 3.800T SI 77 78 Cigar Stores Co -00 S7 86? 63 Rikcr ... 2.500T Si) Si sl NEW YORK CURB CLOSE. I Bid. lAskcd". Beaver Consolidated 27 1 "9 British Col. Copper 1 n Can. Gold-Silver 5 7" Caribou Cobalt C7 I 70 Combination Fraction .... fil s Standard igj 53 Stewart jj i Tonopah Nevada fii ga Belmont 7IJ 70 Barnes ij 2 Braden 71 Ely Consolidated 3 j 5 Ore and Bullion. McCornlck fc Co., bankers, announced tho receipt of om yustcrday valued at 1575,000, and bullion xh!prxd out valued at S95.000. a total movement for the day of ?1 70,000. ' |