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Show UTAH COPPER WILL PRODUCE ITS ORES BL0 W7CENTS COST Since tba annua report was issued by Utah Copper some of tha eastern financial finan-cial papers have been after statsments aa to tha probabilities of the future oost of copper production. D. C. Jackllnc. who la tha general maoatar of Utah Copper, Cop-per, Ray. China, and vice president of tha Nevada Consolidated properties, whirh have a known ore reserve of tHft.twa tons, was sought out aooa after his arrival in New York. To one who made an Inquiry of him ha said: "Utah Copper will be producing Its copper at a coat of less than 7 cents a pound, either late In 191. or during 19U. The company ahould, within twenty-four; months, be producing: copper at the rate of la, 000, 000 pounds a year, and, of I course, the low cost which X estimate for the property, will not be accomplished until tlie mills are going at full blast." "Tha Chlno company will 'produce thia year about lO.ooo.OOO pound, of concentrates, concen-trates, whtle Ray Consolidated ahould produce about 10,000,000 pounds of concentrates. con-centrates. Owing to the time It takes 1 ,nrs) SaMa In is rsflnsd aoppar. thsss figures do not represent tha copper that will oome on the market during 19 1L "The gold and silver contained In the Utah ores which are credited to the cost ' of producing copper, lops about 1 cant a pound from the company's cost of pro duct ion. Last year the Utah ores returned re-turned a little better than twenty pounds of copper per too. and since the first of this year a alight Improvement has been noted. We will be able to strifes an average av-erage ore, and then our cos is will commence com-mence to go stltl lowsr. "Ray will produce Its copper for less than 9 cents a pound, my earlier estimate, esti-mate, as the mill runs to date have given ample proof of this statement. In fact, Ray will get down to Utah's present cost of about 8 cents. The Ray recovery will be higher than Utah s and this fact will about offset the precious metals values In Utah's ores which aa I have cited, cut 1 cent a pound from cost of production. "A cost of less than cents will also be secured from Chi no's operations; this is the figure which I have likewise named for this property. The company will be able to turn out copper for 8ft cents snd even lower. Furthermore. Chlno will have the most flexible cost of any of these propertlea and there will be months when the company will succeed In producing pro-ducing Its copper at a cost even lower than the Utah company. "Taking everything Into conalderatloa and figuring on the long run of the properties, prop-erties, the Utah Copper company wm be the lowest cost producer and will contribute con-tribute the Isrgest I tonnage. "No new tonnage figure for Nevada Consolidated has been estimated since that of 40.0O6.00e tons made known last year. In fact, development work on that property to the end of further increasing tha ore tonnage has not been carried on to any eatent." Mr. Jarkllng Intimated tha JOT, WW. tons of ore which he has put la sight oa the Utah property aa compared with 90.- 000.00 ton reported a year ago, wouia be materially Increased during 111. Questioned on the euhject of depreciation to which account the Utah company chargee nothing. Mr. Jarkllng stated that he did not believe thia waa yet neceesary. He eald th property and plant were kept In the beet possible condition from cur. rent operatlona and that were a stated amount written off each year to depreciation, depreci-ation, th amount apent In Improvements would eventually disappear. Thle would reault In a wrong conception of th company's com-pany's affairs. "Why should w," he concluded, "after "af-ter spending large amounta of money In I m prove me n t a, have the totals wiped out from the company's balance sheets. True, It la almply a matter of bookkeeping, but we are taxed oa tho full amount of our emendlture. |