Bisbee daily review., 1908-12-18
ANNUAL REPORT Pus SHANNON
 IN GOOD LIGHT
President Amster Quotes Fig ures That Please StOckhoId- CTS of WeIl Known Mine
 Greene and Old Dominion.

Shaaaon's annual report for the year sndiBg August s1 is issued. The company produced i5.z07. .TeS pounds of cOtEer from it's oNn ores, in addi- ion to the yield Of custom ore treat cd. an increase of 5.00l ,627 pounds oyer the preceding year. Its net prof Il. after expenses of every character were p2id, was gS,S41. of which $Se,- sfG WIS used to retire a portion of its bonjs under the sinking fund arrange iaent. This reduced the companys to tai pended Indebtedness to $I19.00e. It's copper was sold at an average or iS.2355 cents, net profit of e.5S of a cent ger pound, as i. appears to have cost f2.65 cents per pound.
 President Amster calls attention to the fact that copper was selling above 22 cents two months before the De ginning Of ShanRon's last fiscal year, and in the first month of its fiscal year t dropped to I5 1-2 cents, ana centiEged to decline until May of this year when the company's production was sold at an average of 12.59S cents It's output for August this year was sold sS i3.4e2 cents. Therefore, very little of the improvement in metal. rices V hich has occurred recently fig 8TeSj |. the annual report under re yic@ The average price received by fi.e naDy last year was about II c ata Ter pound lover than the aver age ot the year preceding
 There are three particularly favor a6ie f1etors in the report. First, the average cost of copper, 12.65 cents, compares with 14.7es cents, the cost tic pr sec1ihg year Second, the aver age cest Of mining was $2.12, q de. crease of 6S cents per ton for the year: and the cost of concentration was five cents pesston lower. Third, the pereentage of sme;tfng ores, aS compared with coEcentrating ores, showed. a large increase, and the ay- craze yield per ton was 5S.4 pounds as compared with AS pounds in the 9rectding year.
 The report states that underground developments have been very satisfac- tory, and that the mines are in a bet ter condition to put out heavy ton. naee than at any previous time in their history. IL has been discovered that the largest ore body in the mine goes down ii feet deeper than had previously been believed.
 Figuring on the bFsIs of last years costs. shannon must now be making q profit of l l-2 cents per pound on its urcdaction, which is at the rate of 1S,oe0. 600 pounds annually. Inns means net earnings of S27e.000, or 90 cents per share for its stock. If cop per selie at an average of Is cents per pound in tfe coming calendar year shannon should earn $423 COG, -f.s k.F< - N1ff uF ifs remaining bonded indebtdness, pay si per share ia dividends on it's slcct ard add go 96o to its surplus.
 Greene cananea-oid Dominion.
 A miniug engineer who has spent cor siderable, pcrtion of his life In .c scett rest, expresses surprise that r. s. ekE oi Old Dominion and com i.zuiee holding surrounding properties at Globe are enjoying such remark sSIe market popularity while Greens f.ananea Is selling So low. He says. T re.e1nber that in 1886 the Old Do ninio1s .gss producing copper and was considc-ea one of the richest mines in the country. Since that time it has
 rOSIgcesf hundreds of millions oI pcands. and has been the scene ot tl.e expenditlire of very farge sums Of money. but to date if has distributed less than $1,000,000 1n dividends all told. I figure that the Old Dominion and other immediately adjacent prop critics have a market valuation of ap proxinately S3o.G00 COG. and that theil production, all of which goes through tha Oid Dominion sIaeIter, is only 35, 600 600 to 4e, ,9e9, ,G0a pounds of coppel annually This copper probably costs .t Ieaat i2 1-2 to 4 cents per pound
 Greene Cananea's 2,500,00e share' q sfs have market valuation of $27, 5ail Hae, This esapany is producint ai the rate Of q. Dee 600 to 45.000. .0a; eeranes cf cooper Eog. and it will sooI
 loabie itS present output. Its pro duclien costs are at least two cent per poand Iower than those of the Oi' Dosrfnicn and adjacent mines. Tn
 Greene Consolidated company, al
 though only about ter years old. dis