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Show RAY CONSOLIDATED REPORT IS ISSUED Shows Net Earnings of $1,340 886 for Quarter Ended June 30 ow ng net earn ngs of $1 340 886 or a the e of $3 7o per Bfiare per jear as ! compared w th ea n nBs in the Trev ous quarter of $741 539 the eport of the Ray Conso Idated Copper con pany fo the quarter ended June 30 1915 has been issued The cost of p oduc ng he cop i per was 9 0o7 cen spr pound and the ptoduc on amounted to 14 o 4 380 pounds Tl e dl dends pa d an ounted to 47 03o leaving a surp us of $ 93 850 In d scuss ng the ope atlons dur ng the quar er he re port says In pa t The e -were 77 815 pounls of cop pe con a ned In o es sh pped d rect to the sme ter dur ng the. qua ter br ng ng product on up to 14 80 231 po nds. Ore milled wad 679 004 dry tons a eraging 1 677 per cent copper as con pa ed with 656 65 dry tonE aver agtnB 1 667 per cent for the previous qua er M ng cos s were 44 53 cents per toh against 48 9o cen s for the p e v ous quarter M ning and coarse cruah n cost of ores m ed for the quar er was 60 959 cents per ton of-wh h 3 2o6 cents was t e cost of coa se c ush ng leav ng the net mln ng cost 7 703 cents pe ton Undergro nd do opmen for the quar e was 0 769 f e n ak ng a to tal deve opment to date of 469 M2 feet Cost per pound o net oppe pro duced from m np res was 9 1 cents Jf a I mis e la eo s vere cred ted cost for April was S Cf j cents for May 8 S91 cents for June 1 1 35 ents o an a erae of 9 057 ents for tl e quart r Earn ngs for e bee nd ua r are based upon 18 63o en a pe pound for- oppe as compared tc 14 324 ents for the first quarter Copper on hand and in transit can led 14 cents per pound Cap! a sto k outs ending on the day last di ldend was ec arwi vas 1 1 458 779 shares and there were $2 380-000 par valtie bonis outstand n& at the end of the qua er |