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Show UTAH COPPER PAYS ' PROPERTY TAX Utah Copper Division of Kennecott Kenne-cott Copper Corporation paid $9,-769,833.93 $9,-769,833.93 in property taxes for 1959 last Friday, but the hug figure fig-ure was $39,614.13 less than it paid last year. The tax payment handed the Salt Lake Treasurer's office by Stephen S. Waldron, administrative accountant for the division, was compared to $9,809,448.06 paid by the state's largest copper producer in 1958. The 1958 property tax bill was the largest single payment to be made in the history of the state. Division officials explained that the decrease was due primarily to a drop in the property valuation of its huge ore body in Bingham Canyon. Can-yon. Property valuations on ore bodies in the state of Utah are based bas-ed on net proceed of the three previou years. Net proceeds were down for the Bingham Canyon mine for the years 1956 to 1958. This lowered the computed property valuation of the mine. This year's property tax payment pay-ment by Utah Copper was based on a total company property valuation valua-tion of $194,164,811. This was compared to $255,453,576 in property pro-perty valuation in 1958. Actually, the Utah Copper Division's Divis-ion's total Utah tax bill, including franchise (corporate income) sales and severance tax will be $12,030,-000 $12,030,-000 thi year. Largest share of the tax payment some $7,595,800, will bo to public pub-lic schools, officials said. O - CHARLES R. COX NAMED CHAIRMAN OF HEART FUND Charles R. Cox, president of Kennecott Copper Corp., one of the world's largest copper producers, produc-ers, has been named national chairman chair-man for the I960 Heart fund drive which will be conducted next February, Feb-ruary, it was announced today by Dr. Merrill C. Daines, president of the Utah Heart Association. In accepting the top leadership role in the Heart Fund campaign, Mr. Cox pointed out that "diseases of the heart and blood vessels are the nation's number one health enemy en-emy because they take mere lives annually than all other causes of death combined." He added: "The enthusiastic response of volunteers this year is clear, testimony to the public's awareness that the Heart Fund is the nation's first line of defense against these diseases." Early reports indicate that a record re-cord number of volunteers will participate par-ticipate in the month-long I960 campaign and the Heart Sunday door-to-door collection on February Febru-ary 28 which climaxes the drive. The annual drive is conducted by the American Heart Association and it affiliates and chapters to support programs of both basic and applied research, public and professional pro-fessional education and community services for heart patients. |