The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-05-11
UTAH COPPER AND
ITS SUCCESSES
Quarterly Report of Company
Issued Yesterday to the
Stockholders.
EARLY in YEAR THE
MILL WAS PARTLY IDLE
But March Was Record Month,
With Promise of Better
Things.

The first quarterly report of the Utah
Copper company, for the present year,
was issued Monday afternoon, and will
be read with interest by the stocShold-
crs. The report follows;
We submit herewith a statement of
the results of operations for the hrst
year.
During the months of January and Feb
ruary the tonnage mined and milled con-
tnued to be very considerably below the
capacity of the plants. due TO inadequate
transportation service. and the earrings Tor
those months were correspondingly small.
Transportation conditions improved ma
terially in March. however, and III that
month we were more nearly able 10 ap-
than at any time In the past. and as
result OF the increased tonnage for that
month the total tonnage for the quarter
under discussion was approximately the
same as that for the last quarterly pc
riod OF 1908. The gross output OF copper
contained in concentrates produced dur
Ing the quarter was II, ,10f.549 pounds,
the excess over the last quarter being
23o. SIS pounds but as a result OF the
very expensive operations OF January anu ana ana
month due TO portions of the plants be-
ing idle large part OF the time on ac.
count OF deficiency in tonnage. the cost
than that OF the last quarter. being Tor
the period covered by this report o.6S
net copper produced after deduction OF
smelter allowances. The average net re-
covery at the mills wss nearly o per cent
greater than for the last quarter. due to
the better quality of the ore m1iled. with
particular respect to. the decreased guam
t!ty of oxidized copper. minerals con-
tained. AS a partial offset 10 this con-
dition. the average copper contents was
somewhat lower than Tor the previous pc,
od so na dnv 5he n5 sn
that for the previous quarter
The net profits from mining and
milling operations Tor the
quarter amounted to. ........ S3I5,S94.I
Additional income from rentals
and other incidental items
amounted TO .--,.sses~-.-.-.. o,o'4.ei
Total net profit for the quar-
ter ACKNOWLEDGEMENTS. sSs2: A69o3
The average price OF copper at which
per pound. which Is less by nearly l."
cents per pound than the price applying
TO the report OF the previous 9uarteIT,
earnings for the quarter as compared
to those OF the previous quarter. Al the
expiration of tho period sales OF copper
metal had been made covering the out
put available Tor delivery well into the
month of April, so That we had no stock
OF finished copper unsold.
1t has been stated above that the month
of March was the first ono in winch we
have been able 70 even approach IN ton
mage the total capacity of our plants.
Some difficulties in the delivery Of ore
were experienced in the carly part Of
that month. but as a whole, the plants
10 capacity. and the result was tnat
more than half the earnings for the en-
tire quarter We're made in the one mohin
on the basis OF 12k-cent copper. Had "p
been able TO secure the same character
OF transportation service IN January ana
February that applied to March. the earn
ines on the same character OF ore and
a the same prices of copper would nave
been Approximately 1000 greater Late
in February the transporta ton company
much needed improvements, principally IN
the way OF betterments to tracks and
Ice for the month Of March, which has
continued for the month Of April to the
time Of writing this, report LENDS en- en-
have better and probably adequate serV-
Ice from this time forward. "a
The tonnage for the month OF Aprni,
90 far has been somewhat above the
rated capacity OF the plants and Inc ont-
put of copper for the month viii be con
siderably in excess Of the output ier odd tne
900 pounds. Should this condition con,
tlnue to apply throughout the second
quarter as ld 1t now Nv 6'as near,V ta'T 20 not TO- ote
double those OF the first quarter al the
same prices for copper metaE
treated during the first quarter was still
further decreased as compared TO tne
last quarter OF 1eoS. resulting In a ratio
5Sl rer cent from steam shovels. Dur
Ing the quarter an additional steam
shovel was put into commission on strip
pings. with the result that we moved an an
sveTage of nearly o.. 900 cubic yards ot
sapping monthly. During the month oI
March the removal of Gaping amounted
10 over III 900 cubic yards. We still en-
dcavor TO maintain approximately TINS
rate of stripping for some months TO
come In order that we may sooner DC
able to supply the plants with clean ore
az a normal grade considerably higher
than that now being mined
c. NJ. MacNElII.
President.
SPENCER PENRoSE,
D. G. JACKLlNG,