Show UTAH COPPERS COPPER'S NET PROFITS SMALLER YET GREAT for Current Year Are Arev v r J Estimated at Approximately Utah Coppers Copper's net profits for the current current current cur- cur rent rent year are estimated at approximately lr 1 or more than 20 a a. share be before beI before be- be I fore tore fore taxes Last year the company re returned returned returned re- re turned profits of ot This was equivalent to 2403 2409 a share Earnings of in first quarter t were equal to a a. share Earnings of ot in second quarter were equal equalito ito to a share This made total earnIngs earn- earn Ings for first half halt of the year I equivalent to about 11 a a. share f r Utah turned out approximately I OO pounds of ot co copper per in first six months lot For of this ye year r. r According to officials the thelast last half should contribute another pounds And this should result fin net pro profits Its of at least or over 9 a share Various estimates have appeared as to probable effect of was wag taxes on Utah's Utah s income and have ranged all the way from froni 3 to na share But they did not n emanate from the company As matter ot of fact Utah officials are in the dark as asto asto to war taxes and incline to belief that the the whole matter will wili eventually have to be determined b by the treasury department department depart depart- ment says sas the Boston News r Bureau The leading question Involved of course Js ss Just what constitutes invested capital Another nother Is whether the Income tax law lawI I permits a return of capital accumulated in reserve e and depletion e accounts this s re return return re- re ri ic rd turn r being made d in form of a and d not ot subject to the tax Assuming that earnings approximate 20 a share and that directors In December Decem Decent ber Iber continue the quarterly dividend I Utah would still have something something- like 8 8 S.- S. I or equivalent of a a. share shue to to I meet war WaI taxes And this would be af after af- af ter paying dividends totaling 1450 1460 I af-I a I share share including Red Cross disbursement I of 50 60 cents a share The company would not have to fall back baric on the quick assets I a approximating including ng 13 I t cash as of December 31 31 1916 1316 Hence officials speak with growing 1 confidence of the Intrinsic value of ot Utah shares chares despite abnormal costs of operation operation opera opera- tion and 23 23 cent cent z-cent copper And they emphasize emphasize em- em that a promiscuous discussion slon of of the war tax question as affecting Utah P by those unacquainted with the sUbject only tends to obscure the big big- equities I 1 that have beets been created In the war period |