Show REPORT OF OFIS UTAH UTH COPPER IS ISSUED Utah Uth Coppers Copper's twenty fifth quarterly re report report re- re port issued Jointly b by President C. C M. M MacNeill lae el and M Managing nagin Director D D. D C C. Jackling Is la as a tol follows wl We Ve he herewith submit statement showIng show show- Ing log the results of at the operations of your company for the second quarter of ot the calendar and fiscal year 1914 nI Tho The gross KOS production of or total copper contained in concentrates concentrate for th the quarter I and nd the pre preceding eding quarter In is shown in the following mg folo table SECOND QU QUARTER QUARTER- 11 1914 Pounds Pounds April May Ia June Total Average A monthly production FIRST FIST QUARTER QUARTER 1914 11 Pounds January F February March lZ Totals Total e A Average crage age monthly production During the quarter there was wal treated it at Ot both plants a q total of or tons of ore are as compared with tons for forthe forthe the previous s lo quarter Of Ol this quantity the Magna plant handled about 68 58 per pcr percent percent cent and the tho Arthur plant about 42 n per cent The average grade grade- of the ore was per er er cent copper copperas as compared with wih per cent copper for tor the thc first frt Quarter quarter quarter ter of ot the year and the average a extraction extraction extrac extrac- tion was was' percent These results of operations were the most satisfactory for tor any quarter In the history of ot the prop property and Illustrate what can be done regularly when operating the plants at about their most economical capacity on ores approximating normal grade As 8 s a result resul of the Improved ImproVe operating conditions and as ns predicted In the report for the first quarter of the year ear there thero was a marked decrease In production costs The rhe average cost cOt per pound of ot net copper produced during the quarter after allowing for smelter deductions and ond without miscellaneous income was cents as compared with 9 3 cents for the first quarter of at 1914 If I the thenet thenet thenet net miscellaneous earnings earning In Utah Uth Including including ing tho those o from tram the Garfield Garfeld railroad were applied as a reduction o of at costs cost the tue net cost COt per pound for tor the Quarter quarter ter would he be cents The financial results of ot your our comp company's com corn p pany's operations for or the tho quarter as compared compared com corn pared w with th the first frt quarter of ot the year er are shown in the following table First Second Quarter Quarter 1914 1911 1914 11 Net profit from milling operations operations opera opera- tons Other Oilier Income 4 rents etc In Utah 3 Income Income from Nevada Ne- Ne vada j Consol Consol- dated Copper Co dividends Tot Total I U t profit Dividends pal patti Net surplus for the Quarter quarter ter I 8 The earnings earning for the quarter are arc computed com corn on the basis of 1916 cents per pound for copper as compared with 1440 1140 0 cents for the previous one Tho The total amount of ot copper on hand band arid and In transit transi sold Bold and unsold at th the end of tho the quarter ter tom teras was as pounds The unsold portion of at tho the copper on hand and In transit Is II Inventoried at 1351 cents per pound During the quarter there was removed a total of cubic yards of ot capping capping cap cap- lP- lP ping as compared with cubic yards removed remo ed during the first fut quarter of or 1911 1914 being an Increase of ot cubic yards This Is i. the greatest quantity of ot capping ever removed In any anyone one quarter wince since the Inception of stripping operations opera opera- oper and It will In all tons wi not al probability be either cither neceE necessary aT or desirable to strip NO so rapidly rapid I again as stripping opera operations tons are now for tor the first Ort time well wel ahead ahead of or orore ore production The ThE le privilege e of ot converting con Bingham Ga Garfield railway bonds Into the 8 stock k kor of or the Utah Copper company expired on the 1st of July Of Ot the orl original nal Issue of ot of bonds all tha that t had not h been cn retired by the sinking fund of or the the railway company compan converted Into Utah stock with the exception of ot th the th very ery CI small amount of or par value which are arc In most Instances single bonds widely scattered a and nod principally held R abroad broad The Utah Copper company now owns tho entire entro stock dok and bond issue In ing of ot the Bingham Garfield Garfeld railway with wih the exception of the above par value alue of or bonds still In the hands of the tho public The These e bonds wilt will wl be bo cl called d for redemption on January Januar 1 next In accordance accordance accordance ac ac- ac- ac with the terms of the railway mortgage Tho The earnings of the Gar Gar- railway now to bout about per month which have hae heretofore hereto hereto- fore forI gone one largely to lo the tho payment o of In In- In crest terest and md sinking fund on this bond I Is Issue Is- Is sue will vili wi hereafter accrue either r directly or indirectly ct and almost wholly towards Increasing the earnings of ot the Utah Copper Cop Cop- per company n The operations of the tho t Carfield GarneM Gar Gar- field neM railway n were satisfactory a In every very respect An average of ot tOl tons tiia of ot ore per day clay 1 was transported from th tho mines to lb th mi a as al compare with ih tons ton per fer da day for the previous quarter n An average of oC Ul ton lena tOI p per r day of oilier freight a t orte l over OYer the line as S compared with wih SIPS H lone inns per day dav lne for for or forthe the tho to first of or l J. J Th The Pl ca en r train trin receipts were ere normal and quite satis factory t Rals |