Bisbee daily review., 1906-11-11

it's annual report for the year ending {, August 31. 1906. The company pro duced 1O,s7O,333 pound sof fine cop nor and sold it at an average of 17.49 [ cents per pound. IL also produced sl2.7OS worth of gold and S11,s2f
 worth of silver, giving it's gross earn
 ings. including an increase or S2i9,- 190 in value of ore in process, or
 So o24.756. Its net profits were $535.- 325, oi1 about si.l1 per share. me companv purchased and retired S62,- GOO of it's outstanding bonds and s2ol
 worth of Coronado mining stock dur | ing the year, and expended sloo,ltt 1 in development work in the Coronaoo property and in general improve ments. The report shows an excess I of quick assets over current hapiil- | ties amounting 10 s271,T56- The com |
 nanv's present bonded indebtedness is S35S,000. The average yield of shannon ores idurfng the past year was 46.42 pounds of fine copper. This compares with 55.Os pounds the year previous, ana Ga.34 pounds two years ago. In view of the fact that the annual reDort covers the fiscal year which tended August S1, few months aftef inc company began to benefit rom the use of it's conyerters, and previous lto inc time that ii secured an ade- Iuuate supply of sulphide ores, the
 Showing must be considered very favorable one Had the company re
 ceiyed cents more per pound or cop, nor nroduced it's net earnings would have been increased to nearly S2 per
 share
 Sunerior & Pittsburg has recently
 mode a series of valuable strikes or ] b;yh grade ores. Those in position ;tn know express the belief that thls 1. nronerty now has sufficient ore re- ; sources to make possible an average , output of 50 to 600 tons of per cen' ' lore daily. This would give tne com |. many a production of 2l,oooeoo to -', OOo. 900 pounds of copper annnaiiS, anu u 7 uroyiie for earnings of nearly sZ per
 share aapnually on its outstandlns f l 400 .o00 shares of stock.
 f Utah Consoiidated's dividend meet 1 ling will probably be held aoout D cember 15. and there IS every ., n to believe that the rate will pe III l. c,aa sed to at least g per share semi C annusIly The company will earn ap- : -inroyinately i s2,500 900 net this year, and with the higher price now ruiins Y i for conner it should earn at least >io j. nor share. or S, DOG, GOO next year. III | yiew of the exceedingly low cost oi
 tthe company's copper, it's steadiiS III, e crea Sing production and earnings ana l. l;.s 1oroe reserves of high grade ore r. its stock is entitled to sell between d s75 and sI00 per share At US pres y ient price Utah Consolidated IS an ,o
 ltractive purchase for eithei Sl'ecu''' , tion or investment.
 d Calumet & Arizona has declared IS quarterly dividend Of s4 per snare; -,.. aL increase of 50 cents per snare. Ini. ie dividend will make the total ahio"h "a naid by the company s6.0eo,eoo. u Some one has suggested that the de + cline of S5 per share, from sioo . lx145. was due to the disappointhent U x the stockholders at the failure or er' I'
 company 10 pay $5 per snare. !, ,e view of the fact that the conpans ,, !, = now having at the rate or lo per ecu z. m sie0 per share, 1t can hardly n 2. understood that 1t is possible Tor ah.
 any stockbolder to squeeze ever sa llirfle disappointment in between hi imany other and pleasanter emotion st Many of the holders of Calumet AT = gora stock secured it at an aSe'aS .a cost of 6 cents to $2o per share, an It is hardly to be supposed that tiie' o,IyinaI holders can feel greatly III lanrointed at a dividend rate oi s en per share annually.
 srI Ii is stated that the Calumet si Af m. i,ona companv has purchased sr < go ftitional mining property in tue Ha'l al mo,h district. in Arizona. and tnas ,d lis nesotiating for other propeTt.e he which will be paid for and ders'op. at tout of it's earnings. This changes LII so nosit,ou of the company from o'' .et having a relatively. short lie 10 ph ad having rremendus future pssiD;-hi5 ITS IThe management of the comp.h Der been very successful In picslns o'
 valuable mining properties, haf.hs he cured not only Calumet Ar'z'..s uy sa,s hut also the North Butte, But nr Coaii;iou SuperioY & PittsDtrs Gi his Cauanea Central. If the same Jod or Iment is used in making purchases | he ifhe Calumet & Arizona company. u
 Istock will unquestionabiy continre ing be an exceptionally desirab'e inve' de- ment
 peri Greene Consolidated stock h. ock been relatively firmer than most oth per coDpers this week There has be' ter Ia very small amount of selling al lar- Ii is quite apparent that all specu
 tive holdings of the stock have be be- thoroughly liquidated. Almost eve cry man I meet is bearish on the sto is and I am convinced there is cons this erabIe short interest In il.
 ,ers A market letter. issued by brok aew age house which preached the tune the sermon of Shannon when Its sto nda declined to s6 per share (which the replied to in my letter of January ute thi., year). contained an unfavora be- lcriticism of Greene Consolidated | nds week. It declared that while ars. Greene equipment is being gotten ; of shape to treat very large to1ns
 20- iof low grade ore it's dividends cani
 be considered secure"
 ago, As pointed out in my letter l ugh week. the cost of making the Gre.
 w.tConsolidated company's copper t is not averaged above II cents rob pound. If it's product is made at [
 the cost during the coming 12 months ; nem- sold at a profit of g cents per pou ] be the cmpany will earn considera resi- more than twice the amount requi t he to pay its regular dividends. The W com lof reconstructing and extending him reduction plants of the Greene ( {. l.. solidated company has been go