The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-08-03

IOtal production first TWO quarters l9l l
40. 766,52l lbs; total production last two
quarters 1910, i5,SS3,640 lbs; average
monthly production first TWO quarters
1911, 7,S27.753 lbs; average monthly pro-
lbs.
Average cost per pound net copper pro-
duced during the quarter covered by this
report. after allowances for smelter de-
neous income, was SOP cents as COM
Of 1911.
The total quantity OF ore treated for
the quarter was 1.060.4l4 tons, as COM
pared with os1,10 tons for the first quar-
Ter Of 1911 The average assay value for
as compared with 1.5509 per cent copper
for the previous quarter. This increase
In tonnage and value accounts for the de-
crease in the cost per pound for this
ter.
Financial Statement.
The following is a statement showing
the financial results Of your colnpany's s
operations for the quarter;
Net profits from milling op-
erations for the quarter IS 9S3, .66
Additional income from rents
and miscellaneous sources. s,080,11
Income from Nevada Consoli-
dated Copper Co. dividends. S75,18T.50
Total net profit for the
quarter ..-:s..-a.s--.-..... 81 ,866 944 {
Dividends paid .......,...-,.. 1,177,0i1.7 rs
Net surplus for the quarter 81. slSs sSa. AZ
The above earnings are computed upon
the basis Of ia cents per pound for cop
per for the quarter. AT the end of the
quarter. no copper due for delivery from
refnerfes remained unsold.
The Magma plant was operated for the
entire quarter. The Arthur plant was not
operated to full capacity. but only to such
extent as necessary to take care OF the
excess Of orc production above the ca
pacity OF the Magma plant. The remod
cling OF the fourth section OF tho Arthur
plant was completed by the end OF the
quarter, and as the operation of the re-
modelled sections shows that the capacity
OF the four now in commission is about
the same as that OF the thirteen original
tions have been permanently closed down.
Other sections of the Arthur plant will
be remodeled to keep pace with ore pro-
duction.
Average Extraction.
ra,sd The aye,ags sags sN,raetioH on m all ore
was 1854 per cent. This average includes
the lower results Of eight stamp mill sec
tions Of the Arthur plant which were op-
Grated for part of the period
In order that we may be able to earlier
discontinue underground mining and at
the same time increase tonnage. stripping
operations at the mine have been and are
being vigorously pushed. with the result
that during The past quarter there>,wa
from both the Utah and Boston
groups a total OF 1856 cubic yards of
Gaping. as compared with 057,1l9 cubic
yards for the first quarter Of 1911, An
other object in crowdng stripping work
now Is to put the mine in first class con-
dition for production during winter
weather and TO avoid the necessity OF
heavy stripping at Increased cost under
adverse weather conditions.
Railroad Work Explained.
All Of the grading work on the main
line OF the Bingham s. Garfield railway
was completed about June ]. but the
work on the steel bridges was delayed to
some extent by high winds and the track
was not laid across Dry Fork bridge until
July IA. The grading Of the branch con-
nection TO the Garfield smelter has been
completed; and the track will he laid
during the first half Of August. There is
sull small amount of grading to do In
the yards at Bingham, but this Will be
finished by about August Shipment of
equipment has been delayed, but two To-
and some OF the cars were
shipped about the middle of July. and 1t |
Is now expected that we win receive them |
In time TO begin operations on the railway
during the month Of August
Respectfully submitted,
G. NJ MacNETIL.
President, |
D. c. JACKLING,