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Show UTAH COPPER SHOWS INCREASED OUTPUT Production for Third Quarter Quar-ter Reaches Total of 53,311,943 Pounds. According to the fifty-second quarterly report of the Utah Copper company, for July, August and September of the current cur-rent year, as released yesterday from the local offices of the company, the total production of copper reached a total of 53,311,943 pounds. This is an average monthly output of 17,770,648 pounds, as compared with an average of 17,254,928 pounds for the previous quarter. The report further shows that In addition addi-tion to this there was a total of 1,116,509 pounds of copper contained in the precipitates precipi-tates from the leaching plant; 35,481 pounds in shipment from the mine, and 275,745 pounds in ore shipped direct to the smelter, making a total gross production for the quarter of 54,739,678 pounds, as compared with' 52,724,053 pounds for the previous quarter. During the period In question a total of 3,412,700 tons of ore was treated, being 210.800 tons more than for the preceding quarter, when 3,201,900 tons were milled. The average grade of the ore was 1.2004 per cent copper, and the average extraction extrac-tion was 65.07 per cent, as compared with 1.2535 per cent and 64.49 per cent, respectively, respec-tively, for the second quarter. The percentage per-centage of recoveiy was low because of the large tonnage treated and the comparatively com-paratively low copper content in the headings. head-ings. The average cost per pound of net copper produced from concentrates for the quarter was 16.609 cents, while the cost per net pound for ail copper produced pro-duced from concentrates, crude ore, leaching leach-ing plant and mine precipitates, was 16.814 cents, as compared with 15.047 cents for the previous quarter, no credits being made to costs in either case on account of income from gold and silver or miscellaneous mis-cellaneous sources. The value of the gold and silver in ore and concentrates totalled $408,593.67. and the miscellaneous Income amounted to $139,938.93. These items combined com-bined are equal to 1.054 cents per net pound of copper produced. The high cost per pound is due to increased charges for smelting and reflnling; increased freight rates, and increase In wage scale. The higher smelting and refining charges became effective July first and June first, respectively. The advance in wages and the increase In freight rates became effective ef-fective July first and June twenty-fifth, respectively. The following tabulation shows the financial results of the company s operations opera-tions for the quarter, as ccmpared with the second quarter: 1918. 1018. Third Quar. Second Quar. Net profits from operations oper-ations $4,169,697.66 $5,483,812.74 Other income, rents, etc.. in Utah 139,938.93 259,188.83 Income from Nevadn Consolidated Copper Co. dividends 750,375.00 750,375.00 Inconio from Blng-h Blng-h a m & Garfield railway dividends.. 250,000.00 Tolal net income. .$5,310,011.59 $6,493,370.37 Disburse m e n t s to stockholders $4,061,225.00 $4,061,225.00 Net lurplus $1,248,786.50 $2,432,151.37 The earnings for the quarter are computed com-puted on the basis of 24.044 cents per pound for copper, as compared with 25.205 cents for the previous quarter. This difference tn carrying price is due to the sales during the thin' cuarter having been less than the pro 1- lion. The regular regu-lar quarterly illvulend of $2.50 per share was paid on September 30th. During the quarter there was removed a total of 1.0S2.280 cubic yards of capping, cap-ping, or an average of 360,700 cubic yards per month, as compared with 1,167,515 cubic yards and 3S9.171 cubic yards, respectively, re-spectively, for the second quarter of the year. The operations of the Bingham & Oar-field Oar-field railway wore satisfactory. A daily average of 33,212 tons of ore was transported trans-ported and a daily average of 4499 tons of connercial freight was handled, making mak-ing a total daily average of 37,711 tons, as compared with 31,922 tons, 4139 tons and 36,061 tons, respectively, for the second sec-ond quarter. |