New-York tribune., 1912-03-21
AM. SMELLING AND REFINING
Company Shows II Per Cent Earned
in Last Year on Common.

The annual report OF the american
Smelling and Refining Company IS lot tne
first time, combined report or the Amer,
lean Smelling and Refining Company ana
the American Smeters' securities Com
pany, due to the fact that the Sneltlns
company now OWES all the common stoCh
fof the American Smelters Securities Com,
Uany, and therefore all earnings over hAeu
charges accrue to the smelling company
Since the last annual reports OF these
companies were made as or April 81 lyll,
with reference TO the American SmeltlnS
and Refining Company and as OF May 81
1911, with reference TO the American SHtl'-
orS' Securities Company, the present r'polt
covers earnings OF the smelling COMPANY
for only eight months and earnings OF INC
securities company for seven months. IN
other words the surplus reported ol w
two companies included only these earn
ings less the dividends and expenses our
ing that period The income account mas
been made TO show the income Tor me en- en-
tire calendar year Of lsll, IN order that ZIP
report might be a basis of comparison Win
the next annual report to be Issued, an
also will indicate how much has been nade
I'm the last twelve months as coinPdItu WIZ
previous reports covering earnings %
The earnings statement indicates that the
surplus applicable to dividends over llAen
amounted 10 about II per cent on the com,
mon stock OF the An erlcan Smelting ana
Refiuing COMPANY out of which dividends
were paid amounting 10 per cent
CONSOLIDATED STATEhENI of l'Ig lr n r.
ACCOUNT FOR THE CALENpNh fEAN
Earnings of eneltiuF and refining
plants and industries Immediately
dependent on their operations
Total before deducting ordinary re e,
uairs and -eplacements ..... .-...s f'+'''"f -
Less ordinary repairs and replace .,--..o
menta .....-.--... .......'... .....-''.'' i''f7'''' .
ro,s, .................... .SI2 100, 761 IS
Earnings nom mining properties... 1000. .1s6 70
other earnings and income.......... l"il.lN 90
Gr,.- income ....................srS.i12t2o t2o 30
Corporate and excise taxes.......... sll4 los eS
Administrative expense .......-.... 'o'">- ~
Apppop.i1S1m Ion ~ rroperfv Iss7 800 o.
Total 5s5yc,,or .................. s2.7so.57o ~
cparrss Ilss, and dTidends si2G42 545 os
De5uc' ixed charges and preferred
In,-rest Inter ard dis,oun, On American
smelters' securities CO. 6 De
16iI, TeT'''@ ''''' ,''' o." r- s1os33 "a
~ Pci1r ITT1 en Preferred 't stock 300 ooo 90
Dividend American Sre!ters' -
pa'l'''' ...i'7. 80 ''''7'' % ~ 1000 600 90
Dividend American Shelters Sc
rurities GO preferred stock ......
!. o.. ...,...-.... -.......r..' l'JJv'yoO W
TOTAL ......................... $1,000. s2a ~
Net income IN excess of fixed
donJs .................... EBl. .7l2 a.
Deduct.
Ee,ring c.. mason stock I r e. 900. 600 90
Surplus income for tho year car
ri'd ~ profit and loss account. s3,f5l,il2 ~
PROFIT AND LOSS ACCOUNT.
surplus ~ January 1. 1911. adjusted
sq - changes made iu 1911 di-
lart'v applicable ~ prior period 81 1is 22S 81
Surplus income for calendar year
1911 a. shown on statement ~
income account ........... " "ial.tl%N ~
Total 81 ."tH, $50 81
Deduct.
'tiar ip ,.Iua of m. asfrn,r's.. poo 30 %
surplus a. Tee. ~. 1911. r"r
consolidated general balance
sheet ...-..... Nl".'t7 I'D -