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Show ECGSOflOOELE S! ILITER DECREASED OVER $2 A SHARE Annual report at the Intmahonal mltina; and Rcfknlntf cempejiy tor the yeeur endtna; December II. llt. aa iuat beea iMd. -Tha Mt Mnlnaw amountad ' . te 9l.MI.ltl. or ! per ahre on tha M.ftOO aharva auUtaadln. which com ; pan with fUUJli. or tU.lt a ahar ' In pravhmo year Cop par curtail man t by . ehfppere to tha Tooala ptaot la tvea aa tha rcaaoii for tha oV-crvaae In earntnea. ' Tha company la la apJendtd financial con- OH Ion. with cash of IMSl.iae and total J current aaeete over eurwit llabllltlaa i amount In a; to fl,U,M. Praaldaot John D. Ryaa eaya: t The Tooala plant waa not completed : and put In operation nntll latter part of July, aa that It oprstad but flva month lut year. LTp to December SI It was not ante to run at full capacity, owing to ; ahortaare of ree from I (ah Conaotldatad. our principal alitpper. -Mnce tha tint of current year Utah Consolidated ehlp-menu ehlp-menu and others ha to gradually ln- ' craaaed lonaaaa and by tha end of 111 ' wa hops tha plant will ba operating to Ita full capacity. "Followlnf tha coneervmt.ve policy of expansion outline Dy directors, it was ' decided to begin tha erection of a lead : ameltlna plant shortly after th copper smelting plant at International had been put In operation. Th lead plant will have a capacity of 100 tons a day. Work la well under way and the and of tha . ' vui'ient year should see The plant twwp , .ration to Its full capacity. Before ill-; ill-; thorlslng the plant conetructtnn the dl-' dl-' recrora had entered Inte oontracta - for purchase of silver-lead orea. It will alao erect a lead refinery at tha Itarftan copper cop-per worka. plans now being prepared. Hav Monqr to Build. ', ' "Amount to ba expended for lead smeltln: fumacea and refinery as st ' preaenr proposed will b provided for 1 out of 'cash on hand and no additional etock will be Issued for the purpose. Owing .to curtailment at tha principal mines shipping their product to th re-1 re-1 finery tha Harltan copper worka were at no time during- tha year operated at full ' capacity, and earning, from refinery and . of th business have ahown'a decrease, "fleveral Important refining contracts have alnce been entered Into, ronse-nuently ronse-nuently the earnings for thta year ahould be Increased from thta source Irrespective Irrespect-ive of anv additional tonnage from old ' contracts which might accrue from a b. tierm.nt In copper market condition. ' Record at Tsoeia . "Oenerat Msnerer Mathewson of tha Toele amelter gives thst plant's pro- dttctlrtr for -rhs five months ended Ie-: Ie-: l-e-nber SI U.t. aa follows: ' Crlrlnal metertals reduced (tons) tS.SSS i Conner (ppundai ...l.iSLSlS ' Silver In copper bullion shipped 'om-esl .. tt.lSS . j Oohl In copper- -bullion shipped ' to'inresl r.tso "Orrai lona were rommenred July iR ' 8td, have continued ln. Orea received . from I'tah Conaniidated were not up to tnt neotat mna. a nd wa were obllned to (vrernte at abmtt me-half oparfty, tha rrult helnc that no areat profit eould he mede on. th operatlnna. Probably In he InMer montha of thla year tha Utah Cnno'ldated tonnaTa .will ba- Incraaaed. . "Conftmctton M th ameitar wma com-r1rtxl com-r1rtxl . wit 'iln eettmated eoet and within time epelfied when aa lima tea wra made. , Tie stak dnd flue were dettaned for five rev-etnerainrr furnacaa bee idea tha rontertor aaera; hut on account of ahort-. ahort-. ot nrtt we have run but trirea revar- , h4-r-.tor.en, and draft haa not been M urriricnt tntrmltv in viva moat eaonom- leal r-fnlta on Iheaa furnacea. ' Planter plant hae been rtmnlnor t ah.Mil he'f rapnrlty with aatlefartory ra-' ra-' eu'tn and a tlnfm tion haa llkrwiea re-' re-' milted f mm eampftna; mill operattona. We hew tMiatlMl jrfiwtr Ilea to t'tah Con-anlMated Con-anlMated mine and made contract to de-H-er p'r to that company for three yea-e 'roin June 1. ' When we eelected the amelter elta It ran. onlr fter ronalderahla otiaervatlon a to miim uneea emanatlna from amelt-(na- worka would folUiw. and we oon-rhii oon-rhii thtt they Would ha hlnwB by pre. vaiiina winda Into th Oqultrh moiiptatn . ranre and not Into the Tooala valley. Thla haa proved to he correct." WEEKLY STATFKF.NT OF NEW YOKX BANKS NEW YORK. Jun 14. Th MaUmant of tha rlearing hone, banks for th week shows that th bank hold US.84. more than th requirements of th 38 per cent reserve rule. This Is sn tncrae of II Wfl.lM In tha proportionate raah ra . serve, ss compared with last weak. The etatemenl folkrwa: . Dslly Anrit, Loans. I1.1H41 J.M! Ineraa, 88,188.- 8l , gpeels. 81S 8A8.8M: tnrrease, 14 1 lot ' I era! tenders. IT4.818.SUD; decrease. , 7? KM). - rvnoelt. ll.848.IM.e00; ineraa, II.- : 8U m ; Circulation. 8tt.4M.IO0; Iscnan, 831 J. - Rerv. I8W.4M.TOO; laersas. 4.il8.- I0t. Reaerv required, IMI.8I1.IM; tncr, . IC.SA M. , aurplus. 8I8.840.tn8; Inrraasa, tl 80.88. rx-l'nlted Htates denoalts. Included. . tl.S7t.A00; derreasa. IU0O Actual Condition. - 1-oane, ll.881.t01.4M; Incrsaa. tlt.Ml,. too. t perls. t817.8(4 0o8: Increase. IT.lt8.SM. eeitl lander. I78,iU.8IM; lncras. tl.-118 tl.-118 To nrposlta. tl.41I.MS.8M; Incrsaa. 5.- .148. hot. Circulation, t4i.4to.Tt4: decrees. IS71.- to. Reserve. 138.017.80: Iner, 8S.810.- too. Repervs required. tU3.141.4M; Increa. 85 c3;,j;s. Kiirplua. 888.788 880; Inrrease. 1 T71.lt?!. Kx-l nlted Htp.tr. d'noalla. Included, tl S78 SiH); decrease. HMO. Stimnulry or slate hanks snd trust com. name. In Greater New York not reporting report-ing to the New York Hearing house: Um 8I.M5 ! o: Increase. 8.".8flO. Soecle. SlfS 88,10: errcee. tl.018 .10. l-eal , tenders. . tl.3T.4ti; Increase, f!2.lK. Tctal deposlu. 81. "8.887, 700; decrease. t8,338.tft Telegram Want Ads Pay I |