Arizona republican., 1914-05-10

sold copper, which. stood at the end of the year at IA cents per pound. "A depreciation charge amounting to s276,726 was made against gen. eral income. This is the first year such depreciation charge has been rlade, for the reason that in all pre- icus years the expenditures for new construction, for maintenance and improvements on the plants were many times greater than any possi- ble depreciation which could have accrued This depreciation charge. which amounts to } per cent of the cost os the improvements, creates reserve for the extinguishnent of the improvements account in advance of the exhaustion of the mine Taxes paid in Arizona during 1913 amounted to s13O,si9. an increase of nearly $90,000 over the taxes paid during 1912, and equivalent to one- sixth of Il cent per pound of copper produced during the year" Managing Director Jackling says:
 There were minel during the year 2.366,007 tens Of ore. averaging 1.72 per cent copper: total developed tom mage remaining is 7S,sso,o66 The limits of the ore bodies have by no means been defined, either literally or as to depth. and this Is particu- larly true in the western section. where at several points drilling oper- ations for development were discon- tinued in ore. It is reasonably cer- tain that moderate amount of drill i ing would disclose ore reserves much
 greater than the quantity of the ore i that has been mined since the be- | ginning.
 Cost of mining ore for the year was 72.23 cents per ton. against 77.55 in 1912
 | Results Of completely mining out
 some additional small areas fully 1 bear out our expectation of recover
 ing very high percentage of orc
 reserves and cooper contents as cal- 1 culated from drilling and other de- velopmcnt Representative areas So
 completed during the year have
 shown productions up to 50 per cent
 of total estimated content
 Ore treated for the year was
 2.:s5 29s tons. d1ily average of e,4S0 tons. and comparing with
 1.565.7s5 tons for 1913.
 1 Average copper content of the
 orc was f.119 DOT cent compared 1 with 1.G77 per cent. or 2272s pounds
 of copper her ton. compared with
 22.9 for the previous year. Recov-
 cries were affected adversely by a
 considerable amount of oxidized orc
 coming ct times from upper levels.
 and also by irregular operations of 1 the mill during the last half of the
 gear. while improvements were in
 progress.
 Cost of milling was 5l93 cents per ton. compared with ie.sss in pre- viOus year: this is due to intcrmit t.
 tcpt operations of ihc plan, while l improvements were in progress. and
 to absorbing expense of these i'm rrovements into operating costs.
 Cost per pound of copper pro-
 duced was ?.7sS6 cents. eon1parei l with 9.S2s1 cents in previous year These costs include charge Of 12k
 cents per ton of ore treated. or ove, 1 F cent per pound of copper for ex- 1 tinguishment of mine development | expense.
 Mine is fully and finally equipped
 and it's equipment is operating as efficiently as could be desired
 The outlook for 1914 is that ths
 percentage of increase in copper I inr0GIJCtinn will hn ,Ir
 over 1913 as was the increase that
 year over 1912. There will undoubt
 edly be a marked decrease in cost ol
 FroducinS copper during the coming year.