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Show OHIO COPPER CHARTSGROWTH A substantial increase in profits prof-its resulting from mining oper-ations oper-ations was recorded by Ohio Copper company for the year 1943, according to the firm's annual an-nual report. ,Sales of concentrates, including government premium, amounted to $396,916 and income from railway rail-way and miscellaneous was $37,-979 $37,-979 for a total gross income of $434,896. Operations for the year resulted result-ed in a profit' of $79,427, after all charges, including $26,953 for depreciation and provision for federal income tax of $11,768, but before reservers for depletion. deple-tion. This compares with a profit of $26,916 for the previous year computed on the same basis. During the year work was completed of checking tonnage and grade of ore available on the Big Indian property in central Utah, formerly tied with an option op-tion agreement by the company. Following completion of this work, together with metallurgical ! tests, construction of a 250-ton milling plant was undertaken in the late spring of 1943 and completed com-pleted before the year's end. "Difficulties in starting the new plant were encountered and i resulted in an operating loss for this unit of $18,811," Percy H. Kittle, company president, reported. re-ported. "Costs have been continuously contin-uously rising during the past two years, largely as the result of increased waes and, to some extent, increased c?st of operating operat-ing supplies," he said. |