Show WHY BOSTON GONS CONS U EARNINGS ARE LOW Copper lopper Carried Over High Tide in Prices Says Walker no Boston floston ton Consolidated's annual report r for or the y ar ending September 30 0 last has las h been en sent to Ion London on where It WIllbe will he be c Issued IMme shortly I 1 understand that the he company compan produced between and pounds of copper In Inthe inthe the he year ear covered h by the report says sas Geor Ceorge e J L. L Walker in iii his w weekly copper records This output was the yield of or tho the sulphide smelting ores shipped to the custom m smelters durin during the 12 months It Il ls is stated that this copper cost UHf the company bt between S Sand and 9 cents a n pound If It Its copper hn had b been en sold old soldat soldat at the average a price o of the year car Bolton Boson Bos Bol ton on ton Consolidated would have earned approximately A lar largo large portion portion portion por por- tion of oC the product was carried down and sold at nt about th the lowest prices however and as a n result the company's compans operations for COl tho the year ear resulted In n net t earnings s of or only to The mant management of or the Boston Consolidated Consolidated Con Con- company Intends to go 10 ahead vigorously I with its plans for a lar largely ely Increased production Its ton mill should begin operating by hy January 1 I and it Is ls expected that lint It will be he treating treat treat- atIn at- at In log ing rock to it its full Cull capacity a f few w weeks later The company's compans shipments of sulphide oa- oa orn or which at one time reached 1000 tons ddll daily dily will win In tho the future be he about GOO to tons anti and d dp and underground exploratory exploratory tor tory work In the thc sulphide mine will continue It I is anticipated that the company compan will produce to 35 pounds of or copper next year at nl ata ata a n. cost col of 9 cents per pound Figuring Fit on a dl dally daily 11 30 output of tons It is estimated that Boston Consolidated has all stripped and for 01 steam shovel mining sufficient porphyry ore to keep It Its mill running for tor GO years It was unfortunate of or course that the plans of the management to pay for all development anI and equipment and put the new mill In commission with vilh h net earnings s from the mines failed 0 of ot f realization If It the company's compans copper r had been sol sold at the ruling prices of or ortho f tho the year it would not have been necessary necessary sary Onry to make the recent Issue of convertible con con- honda bonds amounting to I or The bond issue however puts the company compan In a cr very strong trong position po position po- po financially and should leave Ila It a large e work working in surplus This will put i it il In a position to begin the distribution of or dividends within six gix months or one jear ear after the lie concentrator goes oes Into operation |