The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1914-03-21
SMELLING CONCERN
PROFITS ARE BIG
UNITED STATES SMELLING. RE-
Filming AND MINING COM
PANY REPORT

100000 for depreciation, showed
net profits available for the ST.
$4,000 common stock equal to about
this issue. This, of course, is after
Z per cent was paid on $24,313,000
preferred, says the News Bureau.
There is indicated an operating
net of about $4,000, 600 which We
compare with previous years as fol-
lows: 1913, s4,400,0O0; 1912, So,
l497, 1865; 1911, $780, 02; 1910, $S,-
opened in spots, but in then000O91
1851; 1909, ~$4,155,012.
The above earnings of 1912 per
cent on the common stock are calcu-
lated only after the usual charge to
depreciation and improvements. In
1912, S1.265,00O was thus charged
off. but for the year 1913 the amount
will probably be something under
81 .O00. goo. The depreciation charge
was just as large, but the amount
expended for construction and i'm
provements was somewhat under for
mer requirements.
The company continues to derive
something over one-third of its prof
its from its Mexican silver properties
at Pachuca and Read del Monte. 1t
has been most fortunate in avoiding
any complications with the warning
factions in Mexico, and has to date
suffered no loss in production and has
not been interfered with in trans
porting its bullion.
At the Mexican properties, where
the product is about 10 per cent
gold and S5 per cen silver, steady
improvement is being made in all
departments of mining and milling,
making possible for profitable treat
ment of lower grades of ore, and at
steadily declining costs. In the COM
pany's Mexican operations about 1000
men are employed, and work is pro-
ceeding just as if there ware no in
surrection in that country.
At the company's Mammoth cop
per property in California production
continues from three furnaces at the
ate of about 10000, 600 pounds per
annum, with the cost not far from
10 cents per pound. This is after
charging to expense the cost of de-
velopment work. The management
intends to keep development work
we'll ahead of extraction, and to put
into reserves a ton of e ore for
every ten mined.
At Bingham the company did not
recover from the effects of the 1912
strike until we'll toward the middle
of 1918, and while operations dur
ing the latter half were on a normal
scale, Bingham will not contribute
as much to the present treasury as
in 1912.
On the recently acquired Gold
Road property in Arizona develop
ments have continued, but they have
not been as encouraging as the man
agement had anticipated. At Need
les, Ariz., there has also been some
disappointment, while the same is
true of the Centennial-Eureka mine
in Utah. Operations are, of course,
continuing at these three points, but
for the year 1913 results were not
up to expectations.
In Alaska, where the company has
an option on a portion OF the Elmer
group of mines, adjoining the Alas
k~a-Treadwell, the driving of the en-
ploration tunnel continues, but it
has not proceeded far enough to per-
nit of any determination as to the
value of the property.
The cOmpany's coal investment in
Utah is coming along in good shape,
and the company produced and
shipped from its coal properties in
1913 a total of 100000 tons, repre-
senting a very substantial increase
over 1912. The railroad is about
so per cen completed, and several
important traffic agreements have
been made with the Denver and Rio
Grande railroad.
1t will be remembered hat to meet
the cost of constructing this railroad
and the purchase of coal properties,
the Utah company vas formed. 1t
issued 10000, 900 notes, which are
guaranteed principal and interest by
the United States Smelling company.
While it cannot be said that for the
year 1913 earnings of this depart
ment were sufficient to carry the cost
of the coal investments. the eXpec-
tations of the management are that
by the coming autumn the profits
will more than provide for the in
terest on these notes.
TELEGRAPH OPERATOR IS