The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-05-28
BUTTE AND LOW
PRICED COPPER
Amalgamated Not Meeting With
Trouble in PiIing Up Usual
Profits.
EARNS WELL ABOVE
STATED DIVIDENDS
Further Economies Soon viii
Be Possible in Production
of Copper.

uespite the hard copper times. Anal
eamated seems TO he getting along nicely
and IL has been the subject OF consid-
cradle favorable comment. very IN
tcresting review Of Amalcamatcd con-
dtions is given by Thompson, Towlo q
Company in tho following terms:
AS the income OF the Annslgamated
company is derived almost entirely from
the dividends received on Anaconda
stock the results being obtained at the
Anaconda properties arc OF the great :
est Importance 10 Amalgamatcd OF the
i22o. 400 shares of Anaconda. 3.Q'l, 40
or nearly threc-uuartcrS is held by ANAL.
gamated The ll2.Jo0 shares which VIII
be received for the Clark properties are
not included In this figure, as they are
not yet issued, but stand as All obliga-
ton. A the present rate of anaconda
dividends Of s. per share. AmalGamated
receives S6.li2. $50 annually, or approx
mateiy - per share OF Amalgamated
stock.
As the now Anaconda Copper company
did not begin operations until the spring
of 1910. the results obtained for the en-
tire calendar year Just completed arc not
a fair representation ol what the COM
pany can do when operating over a given
period as unit. During the last six
months ol tho year however, when the
properties were operated under one head.
profits amounted to Si.2l;.ol$. which was
Within $4,000 of the dividend require
ments. The average New York quota
lion for copper during the period when
these earnings were made was l.. 493c.
il VIII thus be seen. even under the pres
cnt restricted production. that with cop
per at l2lc per pound, Anaconda has
been able TO earn lis dividend. Iii view
Of the economies which are being brought
abouT at The various mines and OF which
the full effect has not yet been felt,
the companYs operating cost is being
steadily reduced. so that Anaconda's fu-
ture earnings should show Improvement
lr fact, the costs now being obtained
arc considerably lower than the average
OF. the last six months OF 1910.
Outside OF the companys holdings in
Anaconda the most important Amalga
mated interests are those OF the United
Metals Selling company and Greene
Cananea, Earnings from the former al
lowing for the interest on the Sl2,50O.00O
notes. should amount TO approximately
S6QO.O00 per annum. OF the latter 100, 600
shares arc held by Amalgamated. This
company Is not vet on a dividend paying
basis. but the outlook is bright in that
The company has practically completed
the construction and reJuvens lion work
which IL has had underway for several
years. Greene Cananca at present Is
producing AT the rate OF approximately
l3.000.000 pounds OF copper per annum
The management estimates that when
construction work has been entirely ffn-
ished Inc cost nf production Will be re-
ducei to &c per pound The plant when
running 10 capacity can turn out So,
100000 pounds per annum.
II VIII be seen that with dividends
ot g per share on Anaconda stock and
the earnings derived from the absorption
OF the United Metals Selling company
That Amalgamatcd from these two
sources is laying aside. over and above
a surplus OF Approximately $500. 400 per
annum.