Bisbee daily review., 1912-03-24

| The average price for the copper sold 1 during the year was l2.36 cents per | pound at New York
 The income statement of the par | ent company shows that it received | S6,994 100000 as dividends from tb, | subsidiary companies and s2S9, 9,50S.52 | from commissions and miscellaneous J .arnings or a total of S7.2S3, ,5OS52 | from which dividens amounting to $J.- ! 400,0o000 were raid, S149.2O6.44 O. | the balance being used to pay taxes ! and various other expenses and the | rest transferred to surplus and reserve | funds. The income of the company as shown by the above figure does | not. however repr=se the real earn. | ings os the company for the year. as the dividends paid to it by the var ious subsidiary companies, do not represent the exact net earnings of those companies. The balance sheets Of the various companies which ap- pear in the report show that the net earnings were:
 Copper Queen Co.,. 155,O1O.S1 Detroit Copper Co. ... 93O, ,945. S5 Moctezuma Copper Co.,. 1.206, ,1S2.56 Stag Canon Fusl Co.,. 345,O7147 making a total Of s6,636. .7OG.69 to which should te added the miscel- , laneous earnings of s2S9. .50S.52 to ob- tain the actual earning Of the com pany and its subsidiary companies for the year.
 The dividends raid amounted to F per cent being four regular dividends Of ? 1-2 per cent each. and an extra dividend of per cent. The dividends paid by the subsidiary companies dur ing the year were.
 Copper Queen Co. s. POO, ,O00. co Detroit Copper Co.,. SO0,0OO. co MOctezuma Copper Co.,. 754.OCO.00 Stag Canon Fuel Co.,. 24O, 900 co
 In his report Walter Douglas tells briefly of the result of the years op- erations fo- each Of tte subsidiary companies. In regard to the Copper Queen company he shows that 23,000 more tons of coal were mined in 1911 than in 1910, but that the copper con tents were nearly 3-10 per cent less. In commenting on this he sayS. As pointed out in my report for the wear 1910, this extraction of lower grade
 
 ton is simultaneously made in the cost of mining, adds to the life of the reserves. and is the policy which it is our intention to continue in the fu- tue. l am glad to state that in spite of this very material reduction in the copper contents, the cost of mining per pound is slightly less than in the preceding year" He also reports re- duction in the operative costs at the Douglas smelter.
 The production of the Detroit Cop per company also was slightly less in 1911 than in 1910. but this is explain ed in the operating costs at the Doug las smelter.
 The Moctezuma Copper company shows an increased production over the previous year, this is accounted for by the fact that the shortage of water supply which had initiated so markedly against production during 1910 was not encountered during 1911.
 The production of the Stag Canon Fuel company was considerably small Ter than in the previous year, DuC De cause O. care in marketing only the highe. grade coal, the earnings were about the same as in 1910. The pro duction for the year was 1,I4S,4Iv tons of coal of which 573,399 tons were used for coking.
 An interesting fact brought out in the report of the Stag Canon Fuel comrany is that during 1911 there was only three fatal accidents. one for each 3S2, 1923 tons Of coal mined, a 11lr to each 276,291 tons, and in 1908 one for each l09,611 tons.
 Many facts oi local interest are con tained in the reports of the opera tions of the Copper Queen company as made by s W French, general manager, Gerald sherman, mine su. perintend0nt and George E. Lee, sup erintendent at the smelter.
 The report of the Hospital depart. ment shows the expense of main tenance for the year was s73, ,507.3G while the income was $75,65I.SS. This is a much better financial showing than the one for the previous year during which there was a deficit of about nine thousand dollars. There were 55S patients admitted to the hospital during the year, II, ,3S0 house calls in Bisbee and 1889 in Douglas and 34,SS0 dispensary calls in Bisbee and 17,0S9 in Douglas. There were 26 deaths in the Bisbee hospital dur ing the year and 27 deaths reported by the Douglas staff.
 The annual statement of the Elm ployes' Benefit association shows an income of s65,302.s2 of which S4O,302.- S2 was contributed by members and