The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-05-08
BIG CONCERH'S
RAPID GROWTH
Wonderful Exhibit Made in the
Annual Report of United
States Company.
COST OVER S35,OO0,OOO
POINTS ABOUT CORPORATION
THAT WILL SURPRISE YOU.

Copies of the annual report of the
United States Smelling, Mining & Refin-
ing company reached the local offices of
the company in yesterdays mail. Besides
the elaborate and comprehensive financial
statement, there are detailed reports
from President w. G. Sharp and Manag-
ing Director A. f. Holden, that present
the affairs of the company and the mag
nitude and value of=4ts holdings in such
a manner that he who runs may read. "
Without any attempt at elaboration and
without any picture drawing, it is shown
that the institution is now about the big
gest thing of the kind in the mining and
smelling world. The exhibit is one that
calls ViVidly to mind the declaration made
by Managing Director Holden about three
years ago. He was then discussing, or
rather outlining some OF the things he
had in mind on the line OF expansion in
the operations OF the United States Min
ing company and the United States Smelt-
ing company. 1t was suggested that he
must be contemplating making the COM
panies, and particularly the United States
Smelling company. a strong competitor Of
the American Smelling & Refining com
pany.
Mr.. Holden. when our plans are fully
matured. it will be more nearly proper
TO refer TO other companies as competitors
of ours"
How II Looks Today.
The United States Smelling. Mining &
Refining company today owns properties
which the report shows cost, less the
$lO29. 1929 surplus turned in by the
United States Mining company. S5 6S5,-
95S.16. while its capital stock liabilities
amounts to only S4l, OF, $3.50, fact indi-
eating that there is no water" in this
powerful organizations capitalization
What does the company ownH Well, to
fully appreciate what its holdings are it
would be necessary to read the reports
in which the numerous properties are de-
scribed In brief, but lucid detail. Here is
a skeleton outline:
The parent corporation owns the United
States Mining company; the United States
Smelling company 50 per cent of the Cen
fenniai-Eureka Mining company the
United States Stores company; United
States Lime company; United states Met
ais Refining company; one-haif interest
in the International Metals Selling COM
pany: a majority of the stock and bonds
of the Niagara Mining x Smeltlng com
pany; all of the preferred and majority
of the common stock in the American
Exploration company and substantial
holdings in the ACKNOWLEDGEMENTS COM
pany, together with nine-renths OF the
Real del Monte properties in Mexico, that
cost IS, 10000. shares and bonds in the Pc
ruvian Mining, Smelling * Refining COM
pany and last. but not least, the Mann
moth Copper Mining company, with its
magnificent smelters at Kenneth, Cal
Production and Earnings.
In mentioning the production of the nu-
mercus properties owned so much space
would be required that only the local
mines and the Mammoth Will be covered
Their combined output was 361, 133 tons,
the metal contents of which were in pro
portion of 90 per cent copper, per cent
lead, IS per cent silver and p per cent
gold OF the tonnage mentioned the Cen
fenniaI-Eureka contributed Sc. 40 tons and
increased its reserves at the same time !;
the Bingham mines added $500 tons and
the balance came from the Mammoth and.
il is presumed, some of it from Richmond
Eureka.
The company's gross earnings for the
year amounted to SIS, las, 574, while the net
balance from the years operations, avail
able for dividends, was S. 504.522. At all
of the properties of the company, includ-
ing the mines and smelters. mills and re-
fineries in this country. and the proper
ties in Mexico. the company employs 1900
men.
These and many other points in the re-
mort make 1t plain that the United States
Smelling Refining & Mining company is
a pretty formidable institution. Its smell
tiers in this valley have a capacity Of
handling $500 tons of ore per day at the
present time and that is about 800 tons
more than the American plant can han
die so It begins 10 look as though Man.
aging Director Holden's declaration about
competition was working out on the lines
he mentioned three years ago.