| Show TAH COPPER HAS n ORE E BlOCKED TO TOJ J THE VAlUE Of L 91 Some S Interesting data dab has ben com com- fled relative to th the immense Immen lC mineral debelts de de- e belts alts of the Utah Copper company comp at This Thill mine with St Its ne ma of porphyry orea developed dO and n par par- ally 11 developed ha has a a. share sharo value for forto rora to a ore oro alone alono amounting to 14 net I without amortization for each ench of the i shares Issued These figures aro are on cent 14 copper metal from re of or a a. 14 per cent grade grado and 61 per ent nt cost of production on tons f r the product and 7 cent cost on tons This estimate was carefully implied by a representative of ot the News reau who has been visiting tho the camp d d made a careful I investigation of ot the tho operations S to tho the oro ore gra grade grad taken namely 14 r r cent the tho figure actually given for fore fore e e ore uro re reserves In lii the last annual report as per cent The average net nat r elter recovery In the 1 past four tour years ears s as s been pet per cent with 61 81 per cent centi i 8 a minimum A 61 per cent cont recovery pry n a 14 per cent ore n nets ts 1708 pounds coper coper cop cop- er per ton ton or Sll say 17 pounds during the second quarter of 1914 vero ero reduced to around 8 S cents per pound Now that tho the BIngham Garfield Gar Gar- field leid railway bonds are practically out of ot the he way aJ all the net earnings of this railway rail rail- way ay subsidiary become available as a credit against the cost of ot operation at Utah Copper The The actual cost of steam shovel cl min mm- mining ing ng Including taxes administration etc but exclusive of or stripping charge chargo and ex exploration eX cx- Is 21 l cents per ton net transportation trans tran cost for carrying ore to Lo mill under 15 cents milling 37 cents against which a silver gold credit of ot 13 cents per ton 1 leaving a net mining milling cost of CO GO cents per ton or cents per pound of or copper produced to Which rich should bedded bo be added some ome 3 cents per pound for smelting smelting smelt smelt- ing refining and selling Thus the physical cost of or producing copper Is Is' Is 66 cents per pound but stripping exploration tion d depreciation and Interest charges the actual cost of or production up to fl cents Tho The figure of 7 a cents for or the tons Is therefore a 8 liberal one After Alor that the stripping dripping charge of oC 71 Th cents per ton mines Is expected to terminate terminate ter tar minate inmate and with the carriage of or all nil ores over the Bingham Garfield railway Instead of about third one over o the Rio Grande as at present there thero will be an l additional onal saving savinI of over 6 cents per Ion ton in costs cost This should bring the tho cost of ot production ultimately ultimate down to 6 66 6 cents tents per pound Hence the figure of 7 operating costs COts per pound on the tho oo tons of ore oro blocked out is is' is aleo alfo considered a a. rather liberal one metal the Indi Indicted 14 cent copper profits amount to 1 1061 06 per ton tonn I in n tons and 1 19 per ton on tons or In all Divided among the approximately I tely 1825 i be 00 shares outstanding since the conver- conver Ion lon of the Garfield railway Jonda July I 1 tho the blocked out ore rc- rc i arvea rv foot toot up pp to a 3 value alue of ot nu 14 net neter I per er share I Nor INor does this value of or per share allow a penny penn for tho the shares of or Nevada enda Consolidated Copper company dock of the Bingham Garfield railway Constructed 1 and equipped at a cost coat of war iver to date te nor the of undivided profits as of January 1 1914 IH nor the tho value of ot the mammoth Magna n 1 and l Arthur mills having a ca ca- of tons of or ore oro per day E. E NEW YORK COTTON NEW EW YORK July 25 Cotton Cotton futures Closed los steady stead Jul July C August Auguet December Janu- Janu try iry March larch 1 c MD May 12 Quiet Quiet middling gulf E sales les none NEW YORK MONEY YORK J July l 25 Mercantile Mercantile pa paper pa pa- per sterling exchange firm 1 sixty sixty- lay bus demand commercial com corn mercial bills hills UH iSi bar silver diver Mexican dollars government bonds trong strong railroad bonds bond heavy I t CHICAGO PRODUCE t CHICAGO July 25 Butter No B Butter No No mar mal ket Receipts 1031 i cases unchanged unchanged un un- un changed f Potatoes Potatoe Potatoes Higher Higher receipts 12 cars Arkansas Kansas and Oklahoma 66 GOc home grown own Oc UM Virginia barrels t p Poultry uary d. Unchanged t CASH GRAIN GRAI No 2 red t CHICAGO J July ly 25 Wheat o Wheat No Tso 2 hard l' l No o. o 2 3 northern No 2 spring C Corn Corn No 2 yellow i Hc No 3 2 yellow Oats BOats Oats No 2 3 white standard n Rye e No 2 r Barley 9 Rib CRIbs FOREIGN GRAIN LIVERPOOL Jul July 25 Wheat Wheat No 1 Manitoba s No 2 4 41 oil October 7 71 I Id ad d December 78 s Id i Corn Corn American American mixed Std Sid Septem Septem- b be- be r ia lid I FOREIGN COTTON I t I LI LIVERPOOL July 25 Cotton Spot Cotton Spot easier uler good middling middling low middling sales L f r FOREIGN FINANCE B LONDON rul July 26 Consol for mone money contois for tOr account 73 r t Bar sliver silver weak 24 2 7 r Money 2 per cent i Short bills pe per cent three months per cent i BANK CLEARINGS Today's clearings Same Bame day last year 1 Weeks Week's clearings 12 Same Bamo week last bit ir year jear 82 |
