New-York tribune., 1907-06-04
BIG COPPER EARNINGS.
Amalgomatcd Shoes Per Cent on
Its Outstanding Capital.

For the year ended April so the Amalgamated
Copper Company reports net income for the
twelve months equal to 919 per cent its S53 sSo)
capital stock outstanding Net earnings increased
Si992S63. and the surplus increased $L915,165 the
total surplus. after dividends amounting to S222S
oSS. Added to the surplus of the preceding years
the report shows a profit and loss surplus of Su.-
4S3.7s2
The Company's big gain in earnings due 70
the strong position of the copper market in the
year, but it should he borne in mind that the
greater part Of the results obtained at prices
well under the high figures now quoted for cop
per. and as a consequence any decline in copper in
the course OF the current year will not poor
showing by the company in its fiscal year
compared with that in the twelve months just
closed.
At the close of the company's year all the re-
lined copper that can be produced by July by the
various companies included in the Amagamated
Copper Company had been sold in advance In his
report 10 the stockholders A. II. Melin the secre-
tary, says
For the first time since the organization OF the
Amalgamated Copper Company operations in the
cessfullv carried during the last year without the
ly a large amount of development work hitherto
iarqed by court injuuCtions has been accomplished.
net income of the AmaIgamated for the year was
ON the capital stock The Amagama eds surplus
Is held largely by its subsidiaries Not much more
is Withdrawn therefr6m, The production of 275-
100000 pounds refined copper by the AmaIga-
mateds subsidiaries compares with 26S c0t00 pounds
IN the preceding year. an increase Of 10000 pounds
The Amalsamat-d's equity Of 22i0GG00O pounds OF
copper in production of 275OOo000 pounds in 1906
compares with an equity of 2l6N0,e10 pounds in a
OF 100000 pounds,
A large working shaft upon tho Tramway claim
Is now IN process of construction. and large and
valuable ore territory IN the Pennsylvania mine.
mentioned in the report Of last year. proves that
IN" or" bodies In the lowest levels Of the Anaconda,
the Colorado, the Boston and Montana and the Butte
ana Boston mines are OF q better grade than those
existing on the immediate upper levels. The blast
furnaces we'll the TeverbeTatory and CalCiu-
ing furnaces and the smelling works Of the WaShOe
copper Company at Anaconda, have been enlarged.
and now upward of ten thousand tons of
treated daily. There IS to think that this
large tonnage cannot be maintained.
The reduction works Of the Boston and Montana
Company at Great Falls have been taxed their
work has Just been started whereby the tonnage Of
ore which can be treated daily by these works
VIII be Increased by q thousand tons. This. how
ever, will require the building of entire sec
tl0n in the concentrating department. general in
crease of facilities i'm all other departments and the
erection of sukestarN X 500 feet I'm height and hav
ing diameter Of 90 feet This will be provided
with the necessary hues and dust chambers for the
successful and economical handling of tho ores \
settlement OF the labor question satisfactory 70
both employer and emplOye has been arranged and
a contract I'm relation thereto has been signed by
tG" officials OF al the mining companies and the
different labor unions, covering a period OF five
years.
The condition Of the copper metal market dur
price of tho metal rose from 1872 cents in Decezn-
Der, 1896 March, 1907