OCR Text |
Show Mine Will Spend 44 Millions In Utah .... ... i,,, iCjM&i-WJssfe&?" fe4iWse4 ' Utah Copper Division of Kennecott Copper, where new expendi ture record will be set in 1948-49. A single mining operation will pour some $44,163,000 into Utah business and industrial channels in the coming year. Announcement to this effect has just been made by D. D. Moffat, vice president of Kennecott Copper Corporation, for its Utah Copper Division, the highest expenditure in the 45 year history of the mine. This is about $1,163,000 more than the $43,000,000 spent last year. The new fiscal year started September 1. The breakdown given by Mr. Moffat for the 1948-49 year is as follows: $12,664,000 for materials and supplies, ,$14,998,000 for freight, smelting, taxes and miscellaneous, misc-ellaneous, and $16,5000,000 for pay-' pay-' roll expenditures. The expenditure areis based on the assumption thai operations will be continous during the year. Payroll increases are a majw factor in the estimated expenditures. expendi-tures. Current weekly take home pay for all Utah Copper Division employees is $72.42, compared to $49.31 for all workers in practically every enterprise in the state. The average weekly take home pay foi copper workers in 1940 was $32.13 Regarding the new refinery, Mr, Moffat said that delays in material deliveries made completion of the new plant uncertain. Excavation work has started and it is hoped that the installation can be completed com-pleted by 1950. The announced budget does not take into consideration consid-eration any capitol expenditure! such as the refinery. |