The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1914-03-11

Tae above earnings OF loi per cent on
| the common stock arc calculated only
after the usual charge 10 depreciation ana
| improvements. In 1912, sl.265.OOO was
thus charged off. but for the year 1913
| the amount viii probably be something
! under 81. 600, 000 The depreciation charge
| was Just as large, but the amount ex-
| pended for construction and improvements
was somewhat under former require
| ments.
The company continues TO derive some
| thing over one third OF its profits from
| its Mexican silver properties at Pachuca
and Read del Monte. II has been most
| fortunate IN avoiding any complications
| wita the warning factions In Mexico. ana
| has to date suffered no loss In production
| and has not been interfercd with in trans
porting its bullion.
| At these Mexican properties, where the
product IL about 10 per cent gold ana 80
per cent silver. steady Improvement Is
! being made In ell departments Of mining
| and milling, making possible Tor proflt-
able treatment OF lower grades OF ore,
and at steadily declining costs. In the
| company'S Mexican operations about AOOU
men are employed, and work Is proceed
| Ing just as II there were no lnsurrection
| In that country,
| AT the company's Mammoth copper
| property in California production conun :
ues from three furnaces at the rate OF
| about 20,000,000 pounds per annum. with
| the cost not far from 10 cents per pound.
| This Is after charging to expense the cost
| OF development work. The management
| intends to keep development work well
ahead Of extraction. and 10 put into re-
| serves n ton OF new ore for every ton
| mined.
At Bingham the company did not re-
| cover from the effects OF the 1917 strike
! until well toward the middle Of 1918. and
| while operations during the latter hall
were on a normal scale Bingham will not
| contribute as much 10 the present treas
l.ury as In 1912,
| on the recently acquired Gold Road
property In Arizona developments have
| continued. but they have not been as en-
! couraging as the management had an
| tiCpated At Needles, Ariz., t1e!e 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 1918 results were not up 10 eN-
pecta tons.
In Alaska. where the company has an
! option on a portion OF the Ebner group
! OF mines adjoining the Alaska -Trea dwell,
the driving OF the exploration tunnel con-
| tinues. but 1t has not proceeded far
! enough TO permit OF any determination as
to the value Of the property.
| The company's big coal Investment IN
Utah Is coming along In good shape, and
| the company produced and shipped from
its coal properties in 1913 total of $50.
| 600 tons. representing very substantial
Increase over 1912. The railroad is about
90 per cent completed, and several Inn
portant traffic agreements have beel
made with the Denver x Rio Grapde rail-
| road
II will be remembered that To meet the
cost Of constructing this railroad and the
purchase OF coal properties. the Utah COM
pany was formed. II issued SlO.0OO,0 GOT
notes which are guaranteed principal and
interest by the United States Smelling
company. While 1t cannot be said that
for the year 1913 earnings Of this depart
ment were sufficient 10 carry the cost OF
the coal investments, the expectations oi
the management are that by the coming
autumn the profits VIII more than pro-
! vide for the Interest on these notes,