Bisbee daily review., 1909-03-20

 general manager. and the resultant low costs of operation.
 Six Months' Report.
 As the previous report covered period of F months and the current report but six months Of actual pro duction. a comparison Is Of little val ne. The 'ncome account of the Cana nea Consolidated Copper company, the operating company, every share of which is lodged in the Greene Con treasury. shows:
 Total earnings and copper
 gold and silver and net
 from miscelns. sources s2,427.236 Total expenditures account
 account copper gold and
 silver -........-.--...........---.... 1,s21. .03O Net profit for year .--. 1,sos,so5 Sundry expenses, including
 shut down costs, etc. ........ S20. AT Deficit for year .----.--.-.---.. 2l4.14l
 President ". D. Thornton says: Copper production by the Cananea Consolidated Copper company for the year was 15.679.6S7 pounds. of which s, S,265,I7I pounds were sold dur ng the year at an average price of 13.S136 cents, and 7,414,516 pounds were car ried over at an inventory price of 13 1-2 cents. which was well below the market price at the time the books were closed at Cananca.
 Slow Marketing.
 "As the copper of the CauaBCa company does not reach the market until four months after production, it is impossible to show correctly the earnings of that company for the pre- yious year at the time the annual meeting of this company s held and it Is therefore deemed necessary to change the date of the annual meet ing of the Greene Consolidated Cop Ver compapy from the second Tues day in March to the second Tuesday in June.
 "Cananea Consolidated is still hold ing 75 per cent Of the capital stock ot the sierra Madre and and Lumber company as collateral for the sale Of its 51 per cent. Previous to the sus- penc tu ol operations by the LAmber compauy the Cananca comCaBy loan ed the sierra Nadre and Pac fic rail road comrany s4OOOOO and took as security a first mortrage upon all it's property Tbe railroad company owns sbout 70 miles CT standard gauge track connecting with the lumber company wf.h the Chihual,ua and Pa Clnc railroad at Temosachic and as there are no bonds or i-.debteduess ahead of this mortSsga, the secuL tv is considered amrle. r. was bODec that this loan WOdld enable the Lum- her company Co continue operat ns but as conditions got worse thev were compelled to close down and at the present time operations are entirely suspended. with no plan for resumption. The Lumber company has failed to meet bond interest and some of the creditors. having attach ed, are now in possession of the mills. No plans for reorganization have de veloped as yet"
 Copper Costs.
 Copper costs for the six months Of operations last year were as follows:
 Cts. per b. Gross costs f. O. b. Cananea 9.9275i Fgt to New York, exD. tax
 rein ug. mkt, int. etc. - 1.6SG4"
 Total cost -----------..--.---- ll.6lS93 Credit. precious meSa-
 va'ues --I.O5446 BIisc. revenue Can. - 75205 1.S0652
 Total cost fine copper sold 9.S074t Construction not charged to operation ..---..-.--.---- -------------- -IU3SS Cost including every expen- diturC .-.----1--- -.------.----------- lD.JlSZ-
 The company Is charged railroad rates that in the aggregate amount to about one cent per pound oi copper in excess of what companies in the same location. but across the line, are obliged to pay.
 Cost of Mining.
 fn his report pr. Rieketts says: The cost of mining for the total ton mage was $2l3 per wet ton. For 15 months. ended Oct. |, 1907. it was s3. .2S and for the year 190j-e 1t was s S5. l have little doubt that we will be able to improve upon these costs in spite of the tremendously in- | creased amount of development work ve propose to do. Chances in power will. if carried out, entail expenditure of si20,000. Cost of concentrat ng do nestle ores was 9f cents ton. A dam Is being built for the storage of peariy 2,00G. 900 tons of tailngs, hith- tAIN lhADHn lNa.Js
 X new smelter has been built on the site of the old one and nothing remains but a portion of the steel ! structure. All the furnaces are new, five stands of conyerters. etc. Boilers at the power houses have ali been equipped with oil burning aDparatlLs
 Average daily payroll at tho smsf ter was formerly s1S2+. during past six months t was s764. Efficiency n blast in converting has been raised | from 43 tO 61 per cent. and the same | in proportion at the furnaces. The reverberatorv ran i50 furnace dayl and treated S3.27s tons at $1.S3 ton net. allowing a credit of 60 cents per ton for steam generated in reverbera ] tory furnaces. Recently smelling cost Is SI.37 a ton and cost Of power was reduced 10 f0 per cent 4 con tract was let with the Texas company Tor two years up to 35.000 barrels a | month Three barrels Of tbis oil s ! equivalent to about one ion of rsln of mine coal Actual net yield of ore lbeDeficiated was 51.25 pounds per ton aga'Dst 465S pounds in fifteen months ended october 3l. 1907. The state ] eovcTnmcnt has exempted for tweu ty years from export tax al cope: