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Show Utah Copper Mine Htlds Enviable Record A notable record was achieved achiev-ed by the Utah Copper company for the third quarter of this year. Output was increased to 59,084,546 pounds as compared with 47,646,423 pounds and 33, 103,190 pounds for the first two quarters of the year, and the average cost reduced to 8.051 cents a pound, including all fixed fix-ed and general charges except depreciation and after crediting gold and silver and miscellaneous miscellan-eous charges, as compared with 8.077 cents for the preceding quarter. Morover, using figures for the first quarter of the year, earnings earn-ings were nearly doubled during the third quarter, notwithstanding notwithstand-ing the decline in the price of metals, total income for the 3 months ending September 30 being be-ing $4,035,095.52 as compared with $2,241,111.67 for the first three months of 1923. The reduction in costs and the increase in earnings in the face of a soft metal market is the more remarkable because it was accomplished notwithstanding the average grade of ore treated treat-ed dropped to 1.12 per cent as compared with 1.15 per cent for the quarter preceding and the value of gold and silver recovered recover-ed but 1.077 cents a pound as compared with 1.266 cents for the previous three months. Recoveries for both quarters averaged 82 per cent. During the quarter the Arthur Arth-ur Plant treated 1,794,100 dry tons of ere and the Magna plant 1,548,900 dry tons, a total for both Dlants of 3.343.000 dry tons, or an increase of 719,000 tons compared with the previous pre-vious quarter. Earnings for the third quarter quar-ter are computed on the basis of 14.88 cents per pound for copper, cop-per, as compared with 14.723 cents for the previous quarter and 15.595 cents for the first quarter. A quarterly distribution to stockholders of $1 per share was made on September 29, 1923, and amounted to $1,624,490. The total capping removed during the quarter was 664,218 cubic yards, as compared with 638,221 cubic yards for the previous pre-vious quarter. The ore delivery department transported a total of 3,510,079 tons of ore, an average of 88, 153 tons per diem, as compared with 2,796,859 tons and 30,734 tons, fespectively, for the previous pre-vious quarter. The Bingham & Garfield Railway Rail-way company transported a total to-tal of 367,876 tons of freight or an average of 3999 tons per diem. |