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Show UTAH METAL HAS REDUCEDIIICOtlE The third annual report of the Utah Metal & Tunnel Company shows a reduced re-duced Income for the year (1917 as will be noted by the following from the Deseret News: According to the third annual report of the Utah Metal & Tunnel Company, covering 1917, lessenea efficiency of labor and continually advancing wftges, railroad embargoes, fluxatlon of prices, and reduced demand fcr lead have contributed to reduced profits. The great need of the property is development, de-velopment, according to the report. Capacity of the mill was doubled during dur-ing the year, with new machinery in-otalled. in-otalled. The total Income in U917 from the mine was $912,344, compared with H,-S35,i214 H,-S35,i214 in 1&16; operating expenses were $620,461. development work 15,-632 15,-632 feet cost $201,320; interest and discount dis-count added $S,124 to earnings; taxes and bond interest aggregated, $23,166 and reserve for depletion wa charged $34,527, leaving profit carried to surplus sur-plus of $40,992, against $528,737 in 1S16. The 1917 production was $"v348,-G10 $"v348,-G10 pounds of lead, 659,1127 pounds of copper, 242,003 ounces of silver and 4,612 ounces of gold. The 1917 dividends divi-dends paid 80 cents per share, amounted to $353,aC1, and total surplus sur-plus December 31, 1917, of $1,057,492 is $434.4G7 less then December 31, 1916, There was sharp drop in the p.utumn in price of lead and mining! corns increuKec'; production was curtailed, cur-tailed, the lend output fulling by 9r.:t,-060 9r.:t,-060 pounds from 1916 and by 4,5)1.479 pounds ffom 1945. Production of copper cop-per fell by 1,102,393 pounds from 1916 and by 2,214,688 pounds from 191., pnd the sliver and gold yields bIho were less. , |