The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1913-08-16
UTAH COPE r.

UTAH COPPER
For the quarter ending Soth earnings this
company nearly diyiden. requirements Of
se21S53. sg751>7 was received as the dividend
on Nevada Consolidated stock carried Utah copper's
treasury.
These earnings computed fifteen cent copper
basis At the end the quarter the company had on
nand and N transit 3&62o5g4 pounds c,Iaer nyen-
toried at value of 15' cents pound These figures
VIII give idea the of capital neces-
sary finance copper property Of this magnitude as
this amount of this price over sl5oO0OO
The output of the past quarter VAS 3t7S544S pounds
and shows over 80 per cent as compared
with the figures of the previous quarter ana demon
sates what this company do when not hanpercl by
cold weather labor difficulties
The average FOR quarter was Sas cents per
pound which would reduced to S.16 cents per pound
providing the profits q Bingham and Garfield r. n
were applied against the This compares with 1915
cents pc pound during the previous three months
The stripping being carried On at very rapid rate
total Of million ana quarter yt:ds Of Gaping
was removed during the past three the
first three months Of this $4,000 yards
handled. 1t is expected the third quarter wiz show
still further Improvement IN this respect; So 1t viii
enable the produce capacity tonnage of the
better grade of
With the possible exception additional. equipment
to the rolling stock of the Bingham Garfield r. r.
the construction cost at the mine and practically
end, that in the the expenditures that
heretofore used these purposes be available
for dividends other The stripping costs continue
credited monthly with equal "a cents a ton
on the extracted the ~ being charged
cost of production fer that period The
ing. milling and transportation and including charge
of ~ FOR stripping to cents per ton
SHANNON
The covering operations second quarter OF
this year made very showing even comparing the
net earnings with the preceding quarter net profit
Cor the second quarterly period during
the first three months Of this year s5s4Oo were earned
The average cost for the quarter cents per
pound and the price received Cor the copper Is
cents compared with 1885 the preceding quarter
The high cost due a lower grade Of ore treated
extraction being 1896 pounds of copper pei
pared with 47.31 FOR the previous quarterly period
1t is quite sufficient ground is not opened
in advance allow selection of tn, ore mined FOX
if it had been the production of company would be
more uniform.
The quarterly output S2uooo pounds was 600 600
pounds less than for the first quartz, of this year
As far DEVELOPMENT concerned was moth
ing promising in the report So was ex
pended this There Of ore
taken from the outside properties. which
1887 pounds Of extracted per ton
There retired railroad bonds since
March, s35OOOO outstanding The original is
of 100000
II is becoming more generally believed that
not big ard the of the stool, ana
the erratc earnings Of the company give such talk
hoMEsTAkE--
The regular monthly dividend was announced
yesterday payable August 10Th stock August
-oth This is not quite up expectations an increase
in the dividend expected q quarters and
the action of the stock during the past indicat-
ed a larger disbursement expected
Even though rate was not increased al his
time undoubtedly will he the very future as the
earnings of the property certainly warrant higher rate Of
distribution.