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Show ENH CON, CO. ttPMHFIT Surplus Grows as Production Produc-tion of Metal for Quarter Exceeds Sales. Report of Nevada Consolidated for quarter quar-ter ended June 30, shows produotfon of 11,149,362 pounds of copper, compared with 12,2.01,444 pounds In previous quarter. quar-ter. Net profit was $1S4,77S, compared with loss of $111,159 in the March 31 quarter. We compare income account herewith: TYe compare income account herewith: June 30. Mur.-h 31. Pec. .11. Sept. 30. Net earns. $1S4, 778 '$111.1fi!) Jlu.lHi) ?1.07o.2l3 Dividends 74ti,7M 7 i:.7!)fi 1,4H!I,.V12 l,521),.-p;! Iliilnnce.'Ofio.OlS StU,l)(io,l,'lS'J.4U3 M:P,37U Depreciation Deprecia-tion SurpIuR . .'5G5,01S S00.tt55,l,4S9, iU3 639,2lr9 Deficit. Copper production In pounds compares: First month 3. 712, 503 4, 401, IPS 6,727. .144 B. 073,319 Second month S, 721, 312 4,150,125 6, -102.003 C, 670. 415 Third month 3,71o,4S2 3. W0, 12 1 B.ROO,r.3G C.S0!.2S2 Totnl. 11,140,3(12 12,201,444 l'J, 020,733 18.843,216 Report says in part: During the quarter 558,525 dry tons of ore of an average grade of 1.42 per cent copper wero treated, as compared with 529. 62 dry tons averaging 1.79 per cent copper for the previous quarter. No customs cus-toms ore was offered for treatment during the quarter. The cost of prduction per pound of copper cop-per Including charge for depreciation of plant and equipment but without credit for gold and silver values and miscellaneous miscel-laneous earnings, was IS. 07 cents per pound. The value of gold and silver recovered re-covered and the miscellaneous earnings for the second quarter amounted to 4.61 cents per pound of copper. The costs for the preceding quarter, calculated upon the same basis, that is. including charge for plant depreciation and the fixed and general expenses, but excluding credit fr miscellaneous earnings, were 1 0.S5 cents per pounds of copper. The credit for miscellaneous mis-cellaneous Income for the first quarter, including values of gold and silver recovered, recov-ered, was 2.34 cents per pound. The operating income upon which t tie earnings tor the quarter are based is computed com-puted at 1.'.12 cents per pound of copper, cop-per, as compared wt' h 1".S rents P'-r pound for the prerllnsr quarter. This slight im-reuse In the carrying price Is due to the fact that the sa!s of copper during the quarter were increased to sonic-extent, sonic-extent, all unsold copper being carried as usual at 13.5 cents per pound. The actual sales of metal for the quarter, quar-ter, however, did not e.jual the production produc-tion for the period, which resulted in a further increase of unsold cupper on hand and in Transit. A general improvement in Industrial conditions at this lime would M?ri to indirate a slow hit", gradual in- crease in riomr-ric consumption and a dy-cideri dy-cideri stirnuliitioii -f f.rfisn demands. While this fairly d-fin"'l Improve ment In t;ie copper m:rk--t x-s of further expansion, t he rnaiiaefn-rent ias considered it advjpaMe to continue the output of copper on the present t..s!.-t of curtailment until pome portion of the company's a'vuinuhition of copper siooUp can be marketed to advantage. |