OCR Text |
Show COLORADO FUEL REPORT ISSUED DENVER, March 10. Coal" miners of tho Colorado Fuel & Irou company responded to the government's appeal for incrt'HsM coal output out-put during the pimnuer and full of 1018. with a better record thnu that of any oilier mining district of the ' country, according to the a tmtinl report of ihe Colorado Fuel & Iron company, made public here today. The annual report Bhrwn net earnings from operation of $7,464,335. compared wilh $8,665,-044 $8,665,-044 in 1017. tiroes receipts were $'fs, 233.575, 1 compared with $43.51S.616 in 1017. Operating expenses were ?40,76'd,206, compared with $34,- : 852,072 in 1017. After all fixed charges had been deducted, including $400,000, the estimated amount of incline in-cline and excess profits tnxes, aDd dividends of 8 per cent on preferred stock and 3 per cent ou common stock, a net, of $1,545,172 was carried to the credit of profit and loss, according accord-ing to the report. The report refers to increases iu wage rates , and freight charges and adds: "These increases in operating costs and the r::dkal reduction in demand for both coal and tsteel during the last two mouths of the year, coupled with serious interference with opera -tioi-.h by the influenza epidemic commencing in September, accounted for rod net ion in earnings compared with the previous year." |