New-York tribune., 1910-04-23
UTAH COPPER EARNINcs
Company Shows a substant,.,
Surplus for 1909

The results OF the operations Of N.
Copper Company for the year sv1e.s .stzA
cember 81, 1909. figures verified by a ssl..ols p
copper OF 51.749.233 pounds. 20.s2 az saS-1:cn sol
OF gold and lyo,993 ounces OF siIve- S--nca
income amounted TO T,2Z7.348. aIrno,. t0,z
TO the earnings Of the company sra.. 'alx
I. 1901. 70 December 81 1gs8 Nc. ~ ~
after expenses was 81. 160 O90 ana IN bacocs
ance after interest and dividends sss> ~
This excellent showing was mada sS-s
average price for copper In 1914 ~
cents a pound, against an average /, ~
eighteen months preceding OF 1350 ~ y
when the gross output Of the couapanvx M
IS, $50. S3o pounds. an excess over tha -
months ended December 81, 1959 ~ Sels eas
24Z.l53 pounds. ~
The cOmpany's undivided proata 81.
close OF the last year were e 1l2 % a.
crease OF S090, ,355 over 1893. Tbs .fer, - ~ ~
total amount over and above dIvlds-da u
interest paid derived from profits % az
no way has any bearing upon the ac-e-i a
shown as surplus" OF Blk 10 USIcso1t
ter sum was the amount received fro-- -
sale OF stock OF the company Ia excs..l . -
the par value thereof. OF this sr1rn ssr
SOS % has been reinvested In the orops--s@..
the company. 81, $50 S28 50, being fsSN
mainder OF the undivided profits rsn-s..se ~ -
the net available cash working csnssslss
the corporation as OF December q iass
the year there was a decrease IN 80
mortgage convertible bonds from Fxs
a
version OF bonds into stock az so A - -
necessitating the issuance OF a425 s5s.,.,
OF the par value OF SO a share WnfeIs
counts for the increase OF the capifaI -, 1-
outstanding IN the amount OF S5t "a II y
premium received. amounting 20 Si0 a ,ss.ss rs
over par. was added TO the "surplns's," s"s.s aN
count. The amount OF additional ca,.s,
received through the sale OF ths sss-s.
above mentioned for cash over ana 49,
the sum required for changes FOR ths ~.
pose OF Increasing capacity OF tha ~.
will be used for the general prrposs, y
the company as working capital. ana ,r
place the company IN such a positIo, :.
will enable IL 70 conduct It's Operations ~
The report states that substantial hs-.
fits are being realized from the acnSisI
tiOn OF the property OF the Boston Consoi-
dated Mining Company, and that the clo,.
association or the Utah company ana -
Nevada Consolidated company. througb =.
exchange Of 95O.47S shares OF the stock =
the latter company for that OF tha T-t,s
company. will also Increase the streng-r
OF both companies by reducing operating
costs and maintaining the stability ~ -
output. Favorable progress was rnads /,
the year IN development work The ors.
obtained IN the additional areas develonsd
and partially developed In the year ara -
a somewhat lower grade than the tonusvs
previously reported. but the average grsSs
is about the same as that upOn which "a
company has been operating the last yssr
The result OF averaging these lower graa.
ores with the better grades Is 70 bripy
down the general average OF all the ore h.
velOped in the property to approxinafsy
ia per cent II must be remembered. Row.
ever, that a very large percentage OF IA
%. .O00. .Ooo 900 tons OF fully developed ore cor-
tains an average OF about 2 Per cent