Show UA TRl LY r RT I It Decreases Decreases ut- ut it t Price of Metal Higher Cold feather Teather Halts Work thirty fifth quarterly report of the company to stockholders stockholder h Copper C. C M. M MacNeill I. I issued yesterday esterday by dent and D. D C. C managing report shows hows that there IDT r. r Tho The t tar tons less ore milled dur- dur be he last quarter than the tho quarter prole pro pre le- le leThis This was due to the tho extreme her g. g er conditions which caused a total own for almost a n week In Decem- Decem e B report follows Fe S e submit herewith statement of rel re- re l of operations of your our company for fourth quarter of the calendar an and andI j I year ear 1916 be he total amounts of copper contained for this quarter and the ding ng quarters of tho the year car to together I a a. comparison of the tho production for tor foryer year yer ear 1916 with tho th-a year ear 1915 are arc arest ro below D st quarter Quarter- Pounds ary ry uarl ii h 12 tel tal Ond quarter quarter- Pounds I Li ll IT I l. l I tal tal quarter quarter- Pounds S 'S It l rth quarter quarter- Pounds ib ber r imber imber Pounds s is production for year 1915 s ill production for year ago monthly production 1915 age ge e monthly production 1916 he lie total quantity of ore milled duthe du- du the quarter was tons being 00 tons less than for the tho preceding ter when tons were milled dally daily average of ot ore treated for the tho thoth th Lh quarter was vas tons lons The Theace age ace assa assay of the ore was per Iler with cop copper r. r as compared ent for the third quarter of the e arthe ar i the average extraction was 1 per ller perS This low extraction was waR duo partly larth S le Ie e fact that the ore treated contained 5 copper In the tho for me mor carbonates principally to the tho unusually large tonI ton- ton i I milled coupled with Irregular oro Jy iy y and Intermittent operations oc- oc ned med by extremely bad weather the last three e weeks of Nober Not No- No I t ber er and all alt of December the weather cold with frequent snowstorms and ig 19 the last ten ton days das of D December this of the country experienced the cold cold- weather heaviest snowstorms andest and est cat blizzards recorded In the past y-two y years ears This necessitated the of operations entirely at tho the thour thour ur plant for two days and rendered 1 BO so difficult that an avera average e of only 0 I to per pcr da day was milled at both bolh is ls during the last week of or December ugh every possible effort was made crease the tho tonna tonnage e. e aUCTiON COST MORE he ho average cost per ver pound of ot not net notT aft after r rHE T cr r produced d during the quarter HE ng allowances for smelter deductions crediting miscellaneous Income In- In ng mn ham Gar Garfield field railway In ings s. s was cents as compared cents for the third quarter cents for or the second quarter anil cents for or the tho first quarter of 1916 comparatively high cost for or tho the last ter ler of the year ear was due partly to the tho weather and con consequent quent d decrease In Inage Inage Inage age during the last seven we weeks ks of partly to the Increased cost coat and partly parth to the tho Increase In tn Int t of waG wages s. s which became effective ember 1 he financial results of the operations the tho quarter as compared with those he hu previous lous quarter arc shown bo- bo I I i Quarter Quarter profit tiling op O T r r Income nt nis etc elc In Inh 11 h one from Nc- Nc Con Cop o OS 0 div 00 net not profit t 1 04 r. r Paid ft t surplus 65 84 SlIER HER PRICE BROUGHT DROUGHT The earnings for the tho fourth quarter I computed d on the basis of ts I per tr r pound for copper as against a n as ria s of cents for tor tho the third The he regular dl dividend nd paid pattI on Dew De- De w 31 was at the he rate of 10 10 per peram am Juan plus piu an extra dividend of 1 per pere e are making a total of or per IIEr sharer share f r the Ule quarter quater DurIng Durin the tho period there was removed taI of cubic yards of capping with cubic yards the Ie previous quarter The rho total of ef capping removed during the theas US as cubic yards ards being an crate f Ko of cubic yards per month an n aera crape average e of 14 cubic yards quarter r Tho The average per month dur- dur the he first nut quarter was cubic for the second quarter Ie e 5 yards ards for the third quarter yards and for the tho fourth L cubic yards I rating I ng Into consideration the very yer- my rray weather hat tut prevailed during the even w weeks of or tho the quarter the th- thop op- op ons ons of th the Garfield rail rall- r Vi ere quite satisfactory An aver aver- C or 6 tons ions of ore per day was 4 rl d and an average of tons tOilS of other frel freight ht was wan handled dD I g ga a total of lens per day ay for tor forIn torI torri ri In n question as compared with I S S p per Pcr r day for the third 7 tons per day lay for the second it rt r an and 1 19 19 to tons s per day for the th t of 1911 |