Albuquerque evening herald. [volume] (Albuquerque, New Mexico) 1911-1914, 1913-05-13
OVER TWO MILLION
NET PROFITS FROM
THE CHINO
Nearly 100000 Pounds Of
Copper Produced Last Year
by Great Mining Concern in
Southern New Mexico.

silver city. n. a.. May ls.-chlno
Copper company has issued 50 report
for the year ended DeccmbA al, 1914.
The company produced 27,77G. 0Sg
pounds Of copper at cost OF 7G0
cents per pound. Net profits were
f2.i7G.904. or $3.50 per share.
President MacNelil says; AZ the
time that the last annual report was
rendered. proven ore tonnage VIVA
81. 000.0 600 tons containing an aver
age OF s.2f per cent. Recmlculated
Tonnage az the close OF the last fiscal
year shows an increase Of $4,000. 0O0
tons or total tonnage OF 90. 600. 600
tons OF an average grade slightly In
excess Of rs per cent copper.
Construction work has practically
ceased and the milling plant, while
designed TO handle 5000 tons "a day,
has developed a capacity Of fully g.
600 tons day and at the present
writing Is handling this tonnage and
viii continue 60 handle az least this
amount az a daily average.
Gross production OF copper amount
ed TO 2s.23T.S66 pounes. which. after
smelting reductions, resulted In a
marketable product of 27.77e.0SS
pounds. This output Of copper was
the result WIKI the plant operating a.
hardly two.thirds average capacity
during the year. owing "a non-com-
pietion OF some OF the anits. The
five sections were not entirely COM
pleted until April 4. 1919. Average
cost Of producing this copper. includ-
Ing an expenses OF every kind. was
:. 6a cents per pound. Average price
received was $4,000 cents
" miscellaneous Income were crad-
lied To costs net cost would be 7eS
cents per pound.
Entire operation Il D crossing IN
most satisfactory manner. The re-
suit Tor tho year "a best evidence that
the methods employed are entirely
successful With present equipments.
the company should have no difnculty
In attaining IN annual production OF
81. Oo0. O0a 10 I0.00e.0 pounds Of
copper. and there II every reason 20
believe that substantial reduction IA
costs for net yeur and several years
Go come wiii be Feaiiked
General Manager Jackllng says,
III IS estimated That Of the go. 00O,-
oo0 tons oi ore considered Or fuiig
developed. abont 0.o0O. oeo tons. or
nearly 90 per cent. VIII De available
tor steam-shovel mining. IN previous
reports we have estimated thai only
SO per cent could De MINED by steam
shovel.
Deferred chargeE FOR the year due
10 stripping operations amounted 20
almost exactly one cent per pound Of
copper produced Ia concentrates. not.
"a outstanding that the stripping re-
moved was equivalent to uncovcring
between three 10 four times the
amount ~ ore actually mined. since
fhe beginning OF the second quarter Of
the year "a charge OF 40 cents per ton
of ore has been made against opera
liOns 10 cover shipping expense. aud
IL Is estimated that this rats OF charge
rs applied 60 increased tonnage ham
died. when the mill Is Ia full opera
ton. will be sufficient nearly, II not
quite, Ia cover an current stripping
expenses, and avoid any substantial
additions 10 expense charges on this
account Practically an OF the ore
sent TO the mill during the year was
mined by steam shovel. ANA no under
ground mining Will be necessary for
many years.
"Tonnage treated for the year was
ii20,37b. average copper Content 0f
the ore was 2.O77 per cent and aver
age recovery WAS 6i.63 PER GENT
IA the lime of writing thia report
ana for about two months previous.
recovery has been maintained al over
20 per cent Average milling cost was
all extraordinary expenses incident to