The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-07-06
REVIEW GIVEN Of
THE UTAH COPPER
Walker Letter Draws Favor
able Deductions From the
Report of Company.

In the Walker Copper Letter OF june
so is an extended discussion Of the AFFAIR.
OF the Utah Copper company. with very
| favorable deductions, The letter shows
that the company has received about
sl1.S5O.O 600 net from sales OF stocks and
bonds to equip the properties. OF this
there was expended for the construction
OF mills, purchases OF property. the con
strUction work necessary at the mine.
railroad building and other expenses Sl3.-
606, 1888. including s3.23l,2SI quick assets
elusive OF its share OF the Nevada Con
soldaied income, of S5.349.615.
The letter then concludes as follows:
Tonnage Is Measured.
At present Utah Copper has 1852. 500
shares of stock outstanding. of which
for the Nevada Consolidated stock now
held in Utah Copper's treasury There
fore. l,llS0S7 shares. which ut 500 have
market value OF s55.90i.350, represent
the Utah Copper and Boston Consolidated
properties Magma and Arthur concen
traitors. the Bingham G. Garfield railway
and other equipment
Assume that the company has 2So.o9o. :
600 tons OF Gre. 203,50O. 600 tons having
been developed already. II may be expect :
ed to yield at least 5000 00O. 600 pounds
OF copper. figured on the basis OF only
twenty pounds recovered TO the ton. This
copper In the ground is given value
OF only LIZ cents per pound by the pres
ent price OF Utah Copper stock. notwilh. .
standing It is being produced and sold
at present al a profit OF a3l cents
pound, Without making any allowance
for the prospective early, reduction OF
over a cent per pound in the cost, or the
benefit OF higher metal market. the
company's ore resources are selling IN
the market now for only % per cent OF
their net value.
Utah Copper Is finished enterprise.
It's construction is practically completed;
Within two or three years its deferred
stripping account VIII begin TO be re-
duced II has constructed and completed
reduction capacity which VIII enable II
TO increase Its production approximately
10 per cent when metal market conditions
warrant. IL is now an cents per pound
producer and within a year or two II
will be putting its copper on the market.
all expenses paid, at a cost OF less than
cents.
Life of Property.
On an output of 20. 600 tons OF ore daily.
resulting i'll production OF at least lao,
600. 900 pounds OF copper annually. which
will be it's production in the near future;
between thirty-dve and forty years will
be required 10 exhaust its ore body. Pro-
ducing 140. 600. 900 pounds OF copper yearly
the company will be able TO pay. includ-
ing its income from Nevada CONSOLIDATED.
$3.50 a share on its issued capital stock
with copper selling at I3 cents. and each
cent per pound that copper sells above
that price Will add another dollar per
share TO It's annual net earnings.
In my opinion the great mass OF. criti-
cism now being published Is tending to
befog the investing public and obscure
the merits Of Utah Copper. When there
comes to be full public appreciation OF
the immense demonstrated value and
earning capacity of the Utah Copper COM
pany its stock will be sought as an in
vestment at prices ranging between $40
Is one OF the safest investments and
surest speculations In the mining world.