The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-08-02
REPORT Of THE
NEVADA CON. CO.
Third Quarter Fiscal Year Was
Productive of Very Fine
Results.
~
BIG OUTPUT AND
COSTS WERE SMALL.
Opening Other Sections of Prop
erty to Admit of Greater
Output.

Western stockholders OF the Nevada
Consolidated Copper company are receiv.
ing the reports for the second calendar
quarter OF the current year. During this
period the copper output amounted to
1S.173.676 pounds. distributed as follows
April. 5,s22 .35l; May, 6.16d. i93; June
6,iS6.s32 pounds. The report follows in
full:
For the quarter just ended the ore
treated averaged per cent copper as
against 1.9g per cent in the second quar-
ter and 2 per cent In the first quarter
Of copper for the quarter after writing
of the depreciation of the Steptoe plant.
is 6.34 cents. as against 7.S9 cents for
the preceding quarter. You VIII note
under liabilities a credit to metal re-
serve account Of $l9322.67. This repre-
sents the amount received during the
quarter for our copper IN excess OF the
value OF the metal ut which our profits
were figured
'iThe directors consider the results for
the period. which show surplus of $4Ol, :
3l7.7i after payment of dividend and
after writing of depreciation OF the
Steptoe plant in the amount Of S132, ,901 63.
as very gratifying as well as the low
cost OF production, which has been
reached during the quarter. For the nine
months of the fiscal year, the operations
have resulted IN the production OF a..
612.0S4 pounds OF copper and net credit
three quarterly dividends and for de-
probation on the Steptoe plant, OF $31I,-
S5i.l0
Your attention is. also called to the
retirement OF all bonds except one $500
bond. which has not yet been presented
for redemption. The mortgage securing
the bond issue was cancelled June 9.
1910 Al the date Of this report July
IS. 1910. there has been exchanged Of
Cumberland Ely stock under the terms
Of the offer made to stockholders Of that
company last November /, 270.S59 shares
out OF total of 300. 900.
During the quarter. YOUR directors au-
thoriZcd the opening of the Liberty ore
body which will further increase the
available ore reserves. and the work OF
installing the necessary tracks and other
preliminaricS for removing overburden is
progressing rapidly. The company will
then have open the Eureka pit. Liberty
pit and Ruth mine-three sources from
which 10 draw its ore,
Profit and Loss.
For Quarter Ended June 80, 1910.
Earnings from mine. invest
ments and miscellaneous 81, $50 ,69S 80
Dividend No. 3 ..,-.>....,. TAG. .479.12
Net surplus for quarter IS 534,2I9.37
Less depreciation Steptoe pit 1872, ,901 60
Net credit to profit and loss.s 4Oi,3lI74
Assets.
Property and development. IS 5.347 406, SO
Investments ............-..,. S,054, $4,000
Trusted and unissued stock 47020. 90
Materials and supplies .... 10T 400. .02
Accounts collectable ...,.... 3Sd4S2
Metal on hand and In transit 2.i5S 1888
Cash .,...,,...,.......... 34S, ,256. 90
S16.546 s51 l3
Liabilities.
Capital stock ............ SO, 900. 900 90
Bonds outstanding .......... 500 90
Accounts payable .,... 115,0l1.37
Unpaid treatment on metals. 431 58I.73l
Metal reserve .......,... 80 322 CT
Surplus observation-disclosures. 3.072,47S. 81
rofit and loss ............... 2.2T6. 1853 80
sl6,546.6 .651.13