Bisbee daily review. [volume] (Bisbee, Ariz.) 1901-1971, 1913-05-04
AN INTERESTING
JOINT summary

With I publication OF Utah Cop
per's ann fal report the last Of the six
great And rican porphyry mining com.
panies rs3orted results OF operations
for the 2 year. Owing to the fact
that ms &ation is still in process
OF constructien.i II IS, CT course i'm
in this instance.
Utah Copper. despite the strike
troubles of last fail which greatly
hindered opefaaons and increased
costs. makes perhaps the best rec
ord of the group. ali things consii-
cred Although working on 1862 per
cent copper ore a cost Of only S.TS1
cents per pound is shown, despite he
operating troubles. In the matter of
low costs Utah is surpassed only by
Chino, which operated on grade
of ore averaging nearly ! per cent
more copper. In amount of tonnage
handled Utah is. far ahead of the
others, treating 6,3l5,32l tons of ore
during the year. which is nearly
twice as much as its nearest compel.
itor the Nevada Consolidated, which
handled 2,s52,5l5 tons.
Dividends paid by Utah aggregated
IS per shase leaving a surplus equa'
to nearly the full amount earned by
some of the other companies. 1t is
perhaps unfair to mike comparisons
along these lines inasmuch as Chino
and Ray are not yet IN full commits.
sion and results for a fun year with
the whole plant in commission win
doubtless result in even better rec
ords than were shown for 1912. The
following table will show the finan-
cial results of the FIVE porphyries in
active operation during the past year
as complied from the annual reports:
Gross Net
Utah 800. S15,345.953 sS.449 272
. Nevada Cons 10,076,s72 Asa. S39
Chino -. 4,3s4,261 2,176 500
Raw a.. 5,475,565 1929 262
Miami -. -. 5,434.5S4 1929 1874
1t will be noted from the above
that three Of the FIVE active porphy-
ries paid dividends Miami joining
the dividend payers during the year,
Miami's first payment 10 stoekholt
ers was made May Is, 1912, at the
rate of so cents quarterly. Titan
dividends are at the rate Of 80 cents
per share quarterly and Nevada's
at the rate OF 81 10 cents per share
qua. terly. Nevada paid an extra dur
ing The year Of 50 cents Per share
in the matter Of ore reserves Utah
stands out tar ahead OF the rest OF
the group with d total of 3l6,50o 900.
tens Of ceveloVed ANA probable q.
10 e. oe. Chino is next vita &c.
600, 90 tens witt Ray closely follow
ng with S0,656,9}7 tons. Inspiration
Ne ada and Miami follow in order.
In the Per cent OF copper in reserves
Miami leads with 2.4S PER cent Ray
follows with % per cent ore. while
Inspirations reserves average ? per
cent copper. Utah stands at the foot
the the list, with reserves averaging
a IT fle less than 10 per cent copper.
II is a tribute to the Utah Copper
organization and methods that they
are able 70 show the highest earnings
per share working on the lowest
grade of copper. The following com
pilation from the or->/sl reports give
the ore reserves, together with their
estimated copper content
Tons p. c.
reserves. coppert
Nevada 3s.S53.551 L6T
Chino -. -. 90, 000.0 900 ISL
Ray 49, -. so $685. -
Tnsnirafion 100000 2.G0
Miami s20, SOC, 900 2.4S
sThere is in addition l7,e00.0O0
tons averaging 10 per cent copper.
Details OF operations for 1912 show
that Utah produced 81 266,337 pounds
Of copper nearly 30,000,e00 pounds
more than Nevada Consolidated, the
next largest producer. The following
table gives the principal details OF
cperations for the year.
Irtah 81 .3ss 337 S.7SI 1852
Nevada .63 .O63.261 S.S6 1852
Chino .2S.s s4,20S 7.6s 2.077
Rav 81 6Tfi.22ff55 9s22S I.g77
Miami -. 81, S32,G09 9,5SS4 2.35
1t will be noted from the above
table that not one OF the porphyTies
reports a cost per pound exceeding
10 cents. while this figure ranges as