Salt Lake Telegram | 1921-12-04 | Page 31 | A. S. & R. Gains in Earnings

A 5 A GAINS I S IN EARNINGS Promise of Increase in Copper Copper Cop Cop- Copper per Mining Makes Outlook Outlook Out Out- Ot- Ot look Encouraging It Is Is' Is stated that the earnings of or the American I Smelting and Refining Reining company are arG In increasing satisfactorily At present Itis itIs it itIs Is more than earning current charges on onal all Smelter Securities Issues outstanding as aswell aswell al well as interest on n bonds of the parent wel company and dividends on preferred This is in striking contrast contrat to first halt half metal prices price improving yeas yeal and Is la due to as well as administrative and operating economies wel Lower labor costs cheaper supplies and reductions In freight rates rate on fuels fluxes flues low grade ores and bullon bullion ha haw have With t helped prospects for tor material reduction in the next living costs cost and therefore of wages half year and with promise of marked increase in increase In- In shipments to the com corn In copper anys any's crease smelters within thin three or four months outlook is exceedingly encouraging for good during first half halt of ot 1922 Cooper operations continue about the same as during recent months except that owIng owing ow ow- ing lag to price of silver the company company com corn pany has hal more copper ore V Us its furnaces at Mexican smelters than a n couple Is of months avo At Matehuala Mate Mate- ate ate- huala and Aguascalientes main reliance is huala placed on cop copper er as gatherer of ot the siver silver Inores Inores in inores ores smelted In the United States copper output continues con to be confined to Garfield Garield and Ta- Ta coma Custom copper bought or smelted continues to be about pounds a n month menth This TIlls Is mainly Boleo output and cust custom m ore bought in il 1 South America for fluxing Braden and concentrates With Wih price of copper rising the company I Is II making a I substantial profit on its Is copper copper cop cop- copper per purchases I III 1 c lead output l Is holding its S own In lii II spite Ws of s some decrease e Q In nh shipments r f from I outlying silver lead producers In the west Vest Fast East Helena smelter continues the busiest Falt of th th- company's domestic lead lead plants with wih I all al four furnaces is hi 11 operation Murray has only three out of or eight furnaces In irs blast as some of t he copper lead lead copper ores usually going to that smelter have to be diverted to Garfield to supply mIxtures mixtures mixtures mix mIx- tures for that plant Smelters at Leadville and Durango in Colorado are operating at atgood atgood atgood good capacity but the Pueblo smelter re remains remains remains re- re mains closed as a result of the flood food I In Mexico I lead led output is increasing slightly under Influence of ot higher foreign I I prices price for both lead and The com corn Pey Is preparing to reopen the Monterey I I plant and ond output is being Increased at I Aguascalientes Asarco and Matehuala I I slightly At Chihuahua ChIhuahua out of eight treatment at furnaces are running with wih I rate of tons of ore a I month Ax At A I I two furnaces are fre In blast and at aton Aguascalientes on dead elead and one onG copper furnace fur fur- nace are In operation At Matehuala Matehuala three furnaces are running This Thi plant smelts on a copper pase pass Holders of Smelter Securities preferred A are ro sending in their shares rapidly for exchange Into 5 per cent Smelting company bonds Purpose of transfer Is to enable the Smelting company to simplify and unify its operations and is the outcome of ot a plan worked out several years ago CHICAGO GRAIN GRAn CHICAGO Dec Dee 3 Wheat Wheat started from I I Vic C to lo ic lower on the Chicago Chicago board of trade trade today mainly because of ot reports of I Ie I beneficial e al snows and rains over some o ot of f I the dry se sections of the Southwest s winter wheat t belt bel Opening prices were vere December December Decem Decem- ber to May to 1160 July i 1054 to i. i Later there was a strengthening tendency in December on word from the seaboard that export demand showed signs of re reviving reviving re- re but the deterred deferred options continued weak and at the end of ot the first hour May was 16 and July 1 10 07 Later support came out for tor May and a strong rally raly marked by week end evening up sent prices at one time above yesterdays yesterday's yesterdays yesterday's yesterdays yesterday's yester yester- days day's finish Trading died down down In the final half hour and the close was barely steady with December 11 to 1 May hay to and July weak weale at 06 tot Corn was fairly strong despite despie the condition condition con con- dIton of the wheat market export de demand de de- mand mand being the chief factor First prices were unchanged to c o lower lover with December December December Decem Decem- ber 48 and May 54 ic to 54 c Corn Cor cash demand kept corn prices near the top throughout the session At the close December was 48 May 64 54 to 64 64 ic and July Oats opened unchanged to c higher I December being offered at c and May commanding 88 38 c to 38 c I Provisions were dull dul with wih the packing I house strike In prospect In lard January and May ay started higher highe at 86 an I 1 respectively but quickly lost 7 points May ray ribs at 75 showed a decline of ot early carly in the session Open Low Close Wheat Wheat- Dec 13 1 11 May May 2 17 Corn Corn Corn- CornI i iDec Dec 48 49 40 48 May I 5 54 6 54 54 42 64 Uy 54 Oats Oats Oats- at Dec 33 33 33 3 32 ray May r 38 SS sHi a 38 38 2 Pork Pork Pork- an Jan f i- i 1 J IS 1526 25 Lard Lard Lard- Jan 86 81 i 8 an May May 81 4 Ribs Ribs Ribs- Ja i May 7 72 g Cash Cah Wheat Wheat Wheat-o. No 2 Jard hard i Corn Corn No 2 mix mixed d. d No No 2 vellow yellow yel- yel 10 low 60 iO i Oats 9 No 0 2 white 36 2 No 3 3 white 33 34 4 c. c Rye Rye Rye Nominal S I Barley Barley S Timothy seed Clover seed seed 18 6 O. O I Pork Nominal I Lard Lard S I Ribs J 3 I