OCR Text |
Show oo BIO PROFITS OF COPPER COMPANY I Boston Mass. uii 16. Utah op per hung up three new records for its 1914 year, lowest cost largest production, pro-duction, and biggest net profits of any year in its history. With curtailed i operations during the last five months of the year, this is a remarkable performance per-formance particularly the big reduction reduc-tion in costs The improvement in costs does not Show up In income account ac-count owing to difference in price of copper between 1914 and last year. Reserves were increased and stood at 842,500,000 tons of 1.45 per cent copper January 1 During the year no less than ": . 1 7 4 assays were made to determine oopper contents. Net uuick assets including Its Nevada consol stock, total ?1S.9H7,000 and ire rapidly being addetl to though carried on the books at only $R.420 000 the stock not being earned as a "net 'iui' ! assets." Copper cosis per pound were 7 L'45 epnts Nevada Consolidated issued its annual an-nual report and balance Bhee today as follows: Receipts, copper produced, StJ.oOtl.-689; StJ.oOtl.-689; gold and silver. $455,910; total gross reeinie. $7,046,499; operating expenses. $6,335,522; net operating profit. $718,977; other Income, $1,046, 044: total Income, $1,762,621 (equal to I B8 cents per share compared with ! $1.74 per share previous year); orel extinguishment $i'5 : ,r4 f depreciation deprecia-tion mine equipment. $.39,600; surplus, $1 470.072; dividends, $2,249,389; deficit. de-ficit. $779,,017; previous surplus I 069,642; final surplus. $2,290,626 |