Show UT UTAH AU COPPER PRODUCTION V V V INCREASES COST IS lOWER The The third quarterly report has just been mailed to shareholders of tho the Utah Copper company It I contains a number of interesting statements and shows how the wonderful tro progress being made by this Bin Bingham bam concern which operates operate the Jar largest est known mine in U inthe inthe Uthe the world word today todar The report is as l fol follows ol- ol lows To the stockholders of the Utah T Copper opper company company We Wo herewith I Ia a statement of the operations of your Jour company for of the third quarter of the tho year ear car 11 t comprising the months or 01 Jul July August u nt and September plant was in The entire Migna entre throughout bout the period n nI al though hough it was as not Dot operated at i its lull tuil ful rated capacity for Jul July For Au August and nd September however howe er it handled an normal c acra average e approximating its cr of tons a da day The fourth remodeled modeled section of f the Arthur plant was wa started in July and the fifth see see- tion ion in AU August It five e 1 sections bein being opi op op- Oi- Oi i rated orated continuously during September The he total ore treated at both plants for or the quarter was WS tons as compared Compared with wih tons for the Previous quarter Of this tonna tonnage e the tho nevious Magna plant handled bandied about 83 per pr cent cent and nd the Arthur Arthul plant 17 per cent cent The fb ay average a grade rade of the ore treated at both raJ plants contained per cent copper opper us as 1 compared with per percent percent cent ent for the previous pre quarter The The gross production of copper opper for tor this his quarter Jross and the preceding two quarters by months being the total amount amount of copper contained Contained in n concen- concen rates is u given i below as al i is also a ai a comparison of the production for tho the first three quarters of lOll with wih thelast tho the last ast three quarters of 1910 Facts About Production July u 1911 1515 6 pounds August u I 1911 11 l pounds founds J September e 1911 pounds total pounds April Jl id 1911 1911 91 24 pounds May 1911 U pounds u June u 1911 t pounds total pounds pound Janu- Janu Janu- Janu IU ary ly 1911 1511 pounds February 1911 j. j pounds March 1911 91 i. i 67 pounds s total pounds pound Average r r monthly production tf tot for July Juh August and September pounds for or April May Ia and June 81 pounds for or January Januar February and March 7 pounds Total productIon fir t three quarters of 1911 11 pounds V Total production last three qu quarters of or 11 1910 7 tg pounds u ss Average age production first three quarters 1911 11 7 i. pounds pound Average monthly production last three quarters 1910 10 pound Lowest Cost In History c copper coppel The 1 a average produced cost during per the leu leua pound quarter a of e the after r net maki allowances s for fr- smelter smeltEr deduc deduc- t lions lons s and nd without th- th thit it- it crediting dl Ing miscellaneous ela us Income was cent cents the lowest In the theil hIstory il to of out our operations a as aJ compared with wih cents for the second quarter of his ear year The fhe cost for the month of Sep Sep- September ember was cents p per r pound T Ti The 8 financial results of the quarter quarters s op operations are re as a follows Net profits from milling opera operations lon for forthe forthe forthe the quarter 1 Additional Income from Crom rents rent and aId miscellaneous mis mis- sources s In Utah 61 Income from Nevada e ada Consolidated Copp Copper Copper Cop Cop- p per r company dividends Total nt profit for tor t we rie quarter 15 1 5 Dividends paid 1 I Net et surplus for the quarter The above o earnings are r computed on the basis li of l 12 r cents cent a pound for copper copper cop cop- per the pr price Ce actually received ed for cop eop- ret per pr dm during Ing the quarter quartel was nas however r. r somewhat t greater than that and at the en end of the period no copper ropper due for tor de delivery de- de livery remained unsold At the te Arthur Plant A As previously pre indicated five rented rented- sections of or the Arthur plant are arenow arenow arenow now In operation au all al the old sections section lecton having been permanently dismantled The he sixth one l is I nearly nearl completed and can be bt put in commission in about thirty days das when hel It Is desirable to do so The two plants plant as at present operating afford atford Ifford af at- If- If ford to for the time being belIg ample ample capacity for the he heT economical a production U of the tue mine T The 0 Arthur If plant as now oln olner In op i Is treating 30 1003 0 da er ton tons a day havIng having hayIng hav hay ing maintained this capacity throughout the month of or September thus thuR Indicating Indicting a capacity of approximately MOl tons ton a ada aday aday day da- for the plant when the thirteen sections see sec ce- ce lons are art all al completed At the time of ot writing this report the t tW two o plants are handling approximate approximately tons a day a th Magna plant taking SO O per cent pent and the Arthur plant 20 0 per pr cent of this ton ton- nage V i Of the thO total ore treated for the quarter quarter ter tr about 24 per cent came rame from the underground underground un un- un- un mining and 76 per cent from th the steam steam shovels shovel Still Sti Shipping Fast Past V The Th Increased rate of ot stripping re- re to In our last quarterly quarter report was for tor reasons th than n given ghen continued throughout th the quarter quartEr under discussion with wih the result that we removed during dur duro ing log the period pErlO cubic uble yards of capping as compared compard with Hh for tor forth th s quarter The BIngham Garfield railway was completed ready reay for operation in August August Aug Aug- I ut but our equipment did not begin to arrive until late in that month and aId regular regu regu- rg- rg lar 1St operations of o the railroad did not commence until September 16 Je On that thata day a regular twice dal daily passenger service ser ser- vice was Inaugurated between Salt Rait alt Lake and ham On September 15 iS th the road began transporting ore and doing a general general gen gen- I eral commercial business Up to the I time of writing tbs Ills report only of of I our first order of o ore cars have been received but we e are are at the present time I and have e been ee for the h past t two weeks handling d a an average of f tons Ji daily with wih an average average of o ears cars car In service The road Is ts doln doing a profitable passenger and commercial freight business and no difficulties of any ay kind have been experienced experienced expert expert- in Its Is operation Agreement With Goulds V In September an und understanding with the Denver DenvEr Si Rio Grande Railroad compan company com cons pany pan was reached whereby our existing ore transportation contracts with that company compan were canceled and a new agree agree- substituted which gives I es to the railroad railroad rail rail- rol- rol road c company compan for fr transportation between our mines and the mills mis a fixed amount of ot ton per da day ay for the remainder of the th term of ut the original contracts This leaves ls IEa th th- copper company free fre to s shIp all al ores ore In excess of jOO tons a I day oth o over or r th the Garfield Garfeld railroad and dIsposes disposes disposes dis dIs- poses of ot all al differences and possibility of controversy ery contro between the copper company compan and the Denver DEnyer Rio Ro Grande Railroad company Respectfully submitted C C. M. M MACNEILL President D C C. JACKING JACKLING general manager |