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Show , Companies And Figures " ; ! , . i v, .a. . ' . . . . .. '. " INTERESTING FACTS AND FIGURES CONCERNING THE GREAT MINING COMPANY CONTAINED IN NEW YORK DISPATCH. : The following dispatch from New York gives some interesting figures and data on the big copper mine here , "Directors of the Jackling companies compan-ies met today to decide upon the quarterly quar-terly dividends. Utah Copper was reduced re-duced from $3,50 to 2.50 and Chlno was lowered from $2 to $1.60. Ray Consolidated and Nevada Consolidated Consolidat-ed remain at fl each. 'SCoppers were heavy in the afternoon after-noon on the cut in the Utah dividend. 4- gradual hardening of ' prices took place elsewhere,, United States Steel being absorbed In large individual lots. Lackawanna Steel and American Ameri-can Car were especially strong, with short covering in motors." The Utah Copper dividend, according accord-ing to unofficial figures, will total $4,-206,270, $4,-206,270, and will be paid iMach 3.1st to stock of record oX the 15th. The reduction, It is understood, is In line with the policy bf mining companies all over the country, and is designed to provide an ample reserve for the payment of taxes. The present rate, , if maintained through the year, will total $16,825,00 for 1918. .The company com-pany last year paid four dividends of $3.50 per share each and an extra Red Cross distribution of 50 cents, or a total of $23,055105. Jn 1916, the total to-tal was $19,493,880. The grand total for the company, all paid within a com paratively recent period, is $79,977453. Figures for the last quarter of (19fl7 : of the Utah Copper have been given out by General Manager R.C. Gem-melL Gem-melL and include the following: After paying the regular dividend of i $3.50 a share in the last quarter, 1917, Ithe Utah Copper Company had left a '; fnet surplus for the quarter which amounted to approximately two-thirds of the total dividend disbursements for the period. , ' Production: October, 18,022,665 pounds; November, 16,460,323 pounds; these to quarters would, therefore, be not far from the earning power of these companies, under present conditions. condi-tions. On this basis it Is of Interest to note that the earnings for the last six months for Utah Copper were, at the rate of $15 per share per annum; Chnno. $7.60; Ray, $4; Nevada Consolidated. Conso-lidated. $3.80. "The second feature of these reports was the perpendicular rise Mn cost. When the .-cost of producing a pound of copper at such a property s the Utah Copper rises, In one year, from 7 cents to 12 3-4 cents per pound, it is eloquent of the tremendous 'change that ha overtaken the whole industry, indus-try, for this type of- property has In the past had an exceptional control over Its cost of production in the face of ordinary obstacles. "As to the individual companies : . : "Utah Copper produced as usual In the fourth quarter of the year somewhat some-what less than in the third 50,802,000 pounds, against 54,762,000. The sum of the four quarters' earnings was Just a little under $30,000,000, or about $19 per share, as compared with $24.50 in 1916. . "There may be some further adjustment adjust-ment of this figure on .account of excess ex-cess profits taxes. The gross production produc-tion of copper for the year showed a gain of 10,000,000 pounds, from 196,-000,000 196,-000,000 to 206,000,000. , "It will be remembered that the company has further extensions of Its milling plant under way, so that if labor conditions permit a further increase in-crease may be expected during the current year. ; "Chlno had a gross output In 1917 at &1.915.000 pounds, as against a net output in 1916 of 73,319,000, whll its net profit, subject to further adjustment, adjust-ment, was equal to $11.70 a share, as against $14.76 in 19il6. $7.95 In 1915, and $3.70 in 1914. Late in the fourth Deqember, 16,311,805 pounds; total, 50,802,793 pounds; average per month, 16,934,264 pounds. i In addition to this, 4&6.S72 pounds , miUnSfSfKitatii direct to smelter make, a total production for quarter of W269,465 pounds. . - Gross production for year 1916, 196,. 75S$31 pounds; gross production for year 1917, 2W(174.442 pounds. Financial results: Net profits from milling ; operations .$8,117,812.10 Other income, rents, etc.,' in Utah 222,471.95 Income from Nevada Con. . Copper Co. dividends... 1,000,500.00 Total net profit .$9,340,784.05 risbursements to stock- ' holders $5,685,715.00 Net surplus for quarter. .$3,655,069.05 The weekly letter of illayden. Stone & Company comments as follows on the operations of this group of coppers: cop-pers: ' ' "There are two features to the reports re-ports of the 'Jackling' properties for the fourth quarter of 1917. The first is what might be termed a 'rebelanc-ing 'rebelanc-ing of accounts.' Owing to the fact that the government had not, at the close of the third quarter, fixed a definite de-finite price on copper, there remained techncally unsold at that time a large portion .of the companies" output for the period which, according to their Invariable practice; was inventoried at 13 1-2 cents per pound. "During the fourth quarter this copper cop-per was sold. The net result is Uiat, whereas in the third quarteV the price taken as a basis for figuring profits was necessarily below' the current market price, in the fourth quarter, m most cases, it was above it. "The average of the- earnings" of quarter a new section of the mill. No. 6, was put In commission. ' There Is still another section to go into.com- "Ray made the largest gain of the group with a gross output of 86,796,000 pounds, as against a net output of 74,-983,000. 74,-983,000. In spite' of , rapidly, rising costs, Its net earnings for the year were but a little under those of 1916 $6.60 as against $7.66, and compare with $2.92 inl915 and $1.64 Jn 1914. "Nevada Consolidated was the only one of the group to show a dimunitlon of production, its 1917 figures of 82,-039j000 82,-039j000 pounds comparing with 90,. 735,000 In 1916." This difference' was due partly to a somewhat lower grade of ore, but chiefly to the greater tonnage ton-nage of ore and concentrates treated by the Nevada Consolidated for the Consolidated Coppermlnes.Thia smelting smelt-ing situation has been the restrictive factor as regards Nevada Consolidat-ed's Consolidat-ed's own production; total smelter output out-put has been approximately the same, ! but the custom work has increased. 1 "This Is the only one of the group that smelts Its own concentrates, and the tieup in freight resulted in an unusually un-usually large amount of copper in transit tran-sit during the latter part of the year, which, naturally, made for a lower average price than tne others received.' receiv-ed.' r '''...':: "Total earnings for the year were, approximately, $5.30 per share, as against $7.72 in 1916; $2.95 in 1915, and 88 cents In 19.14." I Preliminary figures of the porphyries porphy-ries contain the following information regarding operations of the past three months, the figures being in pounds: Utah . . 11 ,900 000 13,500,000 16,250.000 Chlno . 8.833,581 7.590,224 7,44e.OOO Ray 6,869,000 7,771,000 7,442,000 Nevada Con. . . 6.250.000 .500,000 6.OO.0O0 |