The Washington times., 1911-06-26
LOCAL SECURITIES
WERE RATHER SLOW,
WITH GAS EASIER
Greene-Cananea Makes An
nual Report That Is Rather
Encouraging.

Business on the local market was
light, despite a much better than the
average attendance of members. Only
few had orders near the ruling prices
that were turned into transactions.
Washington Gas eased to IS and then Is
under for the first time in some weeks.
The decline has been very slow and
gradual from the 80 mark, as the stock
is unquestionably held strongly by m
vestors who are satisfied with IL at the
present dividend rate as long-term IN
vestment.
Washington and Virginia Railway
common acted well and made a new
high at 40 for the common stock. Mol
erately active business was transacted
District National Bank sold sparingly
at l331s, but at that II was the only bank
stock mentioned in the sales list
Capital Traction SIS steady at 1121z.
The net earnings of the Greene-Can
anea Copper Company for 1910. as
shown by the annual report issued
on Saturday. gained $S2,191 or LA
per cent over the net for 1909. When
compared with 1908, the second year
of the company's operations, the gross
earnings in 1905. 1920 2.Q52-show
earnings of S1.1S4,75O were 95.4 per
cent above those for 1908. After de-
Quoting appreciation the net profits
for 1910 were $500,653, a decrease OF
7.9 per cent from the 1903 profits, and
1908. The 1910 deduction for appreci-
alton was $684,097. which compares
with s55S,452 in 1910.
Total earnings, net nearnings, de-
probation expenditures and net
profits for the past three years COM
pare as follows:
Year. Total Net Depre- Net
earnings. earnings. citation. profits
1910 ...$ s.. .5s2 $50 S1.1s4.75O S6s4Os7 $500 $50
1909 ........ 5.510,s46 1,l02.559 55s 452 a. .1C1
1908 2,427.5SS sO6.3o5 'S2O446 T2li'l4O
'Sundry expenditures. +Dehcit.
Total production Of fine copper for the
year of 5,6S0l45 pounds was an increase
of 1,l32. .456 pounds over the previous
year The total costs Of this output
averaged 11.5l4 cents per pound. against
Il. e4G3 in 1903 Total cost Of refining and
beneficiating increased from an average
of $5.549 per ton for S25, ,929 tons treated
In 1909 to $5.T95 per ton for 1886 tons
treated in 1910. The increase in the lat
ter item was entirely due to a depre-
citation charge of So cents per ton. Yield
per ton OF ore beneficiated came to 46-5S
pounds, as against IA.2 the preceding
year.
Working capital of December 81. 1910,
shows a decrease from the previous
year of 81. 1.957. .5S5. from 81, 1902 to $2. 74l,
49,. This reduction is due to decrease
in notes receivable" of s., 800, 053, most
of which resulted from the transfer OF
s., SIS, Cos in notes of W. c. Greene, from
current to deferred assets ''on account
of the uncertainty of their collection.
There were no other changes in the cur
rent capital account from the previous
year.
Current assets. current liabilities and
net current assets for the past three
years were as follows:
1910 1903 1905
Current assets 81 33I8 854 So 2506s6 'ss.72s. 67i
Current liabil... 1.6ss.917 153L64 l,425, so
Net cur. assets. 2, al. .4ST 4,19,Gl2 5,3o4, lie
Includes S2,Sls,O ,OOS in notes OF w.C.Greene
As the working capital Of the Greene
| Consolidated Copper Company, the hold
| ing company, come to $3,02S as of De
cember 81, 1910, against $S2S62 in 1909, tn,
combined working capital of this com
pany and the Greene Consolidated Com
| pany together amounted to $2,744,46 a
| the close of last year, as agains
| 81 sol 974 on December 81 1903.