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Show OPERATING PROFITS OF UTAH APEX AT RATE 0F94 CENTS Operating profits of the Utah-Apex mine were at the rate of 94 cents a share it is shown in the report for the first six months of the fiscal year from September to March. The actual ac-tual amount of profit was $250,633, representing 94 cents a share on 528,-200 528,-200 shares outstanding. This is a slight reduction over the preceding six months period, for the reason that earnings of the previous six months were made on markets considerably above those now prevailing. pre-vailing. During the first six months of its fiscal year Utah-Apex produced approximately ap-proximately 14,148,000 pounds of lead, 6,000,000 pounds of zinc, 3,358,000 pounds of copper and 324,000 ounces of silver. These figures compare with output in the last full fiscal year of 3.t,3 10,657 pounds of lead, 15,377,216 copper and 822,737 ounces of silver. The company has continued its aggressive ag-gressive exploration campaign, and its ore reserves are estimated to be approximately 105,200 tons of lead-zinc, lead-zinc, 50,700 tons of lead-copper and 21,500 tons of copper shipping ore. A year ago lead-zinc reserves were 67,000 tons, and lead-copper reserves 61,800 tons, while the company had no copper ore blocked out. The management has been careful to build' up a strong treasury position posi-tion against the possibility of just the declining markets now prevailing. It has government bonds totaling $1,-050,000 $1,-050,000 and approximately $100,000 cash. Current debts are negligible. |