Eastern Utah advocate. [volume] (Price, Utah) 1895-1915, 1915-04-09

| ih hlS statement " the stock holders
President viii q Sharp explains the
work " the coal properties of his com.
pany. which are situated In Carbon
and Emery counties and which will
come under one company next month.
After explaining that tho Europcan
war disturbed conditions materially
ana that the war in Mexico caused "A
! suspension ~ operations that meant
hig decrease In profits. he SAYS.
~" Utah company. an the capital
I t",k 90 which iH owned hy your conn
pany ana to which belong practically
! all your coal interests and an your
| railroads 'rNinE them. had Invested
| NJ W" ,luy" uf the fiscal year from the
/ proceeds uf the $40 600 GOO notes sold
! w April. 1912 tN.a1tN6G.si In stocks
and bonds ut coal companies iu Utah
ana iu pei, uriti,q uf the Utah Halfway
company There remains stll unvN.
pended from the proceeds uf these
notes at th" dat" of this report 81
1881 1853 lu addition o. IN. amount
invested Dos tho Utah company. the
United States Smelling. refining and
Mining company hnr inverted $500. Fl.
'Nbl5 in rs and bonds ut these
coal Dompani,i and has loaned the
Utah company and to- subsidiary COM
panics &3.3i2,2G2.01 for construction.
equipment and other requirements.
During the year five hundred steel
coal earn were pur, hascd by the Utah
company
Construction. equipment and de-
lvclupmcnt work at the coal mines
wor" practically completed iy close
uf the year and the now railroad as
we'll uH the branches a. th" mines
and the hd"tra,ks came into operation
on November I, 1914. Your coal prop.
critics are. therefore. today thoroughly
equipped and have ampl, capacity fur
"a large Increase in output They have
now rcitled down 60 regular opcr.
latlng basis In 1919 your coal prop.
critics produced G?o.7NN tons. IN 1919
Nsg,is2 toms. AN increase uf 90 per
cent o. igit. owing to large addi-
tiunal cuutra,tr concluded In june
and July. II wan expected that IN,
year would end with production ui
well over million tonh bat the war
interviewed entAiling general cur.
tailmcnt of activity In the region
rva, he'd by your coal and rHp-, ialiy
affecting our largest customers. the
rmcltctt. mines and railroads A. a
oonscqurncc tho output Of 50a.s7t
tons In 1914 rhowcd u decrease OF 10
per cent compared with 1914.
"if. however the coal output foT
the year 1915 should be equal t. tbs
coal output for the year 1919. which
fccmF conservative calculation. the
coal properties and railroads should
earn Tor the year 1915 within $780,
900 of fixed charges II this result
can be- reached No early In the develop
mcnt of these coal properties upon az
estimated coal production based upof
an output OF only 10000 tons. II vii
be- at least reasonably satisfactory. Il
IN true the smelling company mus
look beyond this tor a return upon APP
proXimatcly N.47O.00O which IL vii
hay" iuolf invested In the Fccuritiei
OF thoH" companies. ilut We believe
We may look forward In the not distan
future. under normal business condi
tiuns, o. a coal production of 1900.
900 toms ON such production "a
prrfcnt costs ana ceiling prices YOU
company should be- earning an flNo,
thargcs and az least per cent upoi
its entire coal investments,
AS your railroad investment wa
only made "a get your coal a. market
and not b-CauH" your company de
sired a. le Interested IN railroad up
erntinnE. your directors gladly con
cludcd AN operating ana trnckag
agreement With the Denver a ~
Grandc railroad tdcFcribcd Ia the las
annual report which bccam" iull
effective November /. l9li undo
this agreement the Denver a l,i
Grandc railroad afsumes the opera
tinn of your railroad property utiliz
ing thonr portions parallel 10 is ow
track. go rr'und track Tor the pug
lpofci ct its own traffic as well as IA
the hnulagr uf your coal For tai
privilege your company n tu rrr'iv
lrntIa, tory compensation
with a view a. simplifying al" COZ
puratr organization, steps have bee
I taken during the year 90 Dissolve th
United Statei Mining company an
tnc United states Lime company, IN
der tho new arrangements the ling
ham minca ana tho lime qunrri's ar
loWncd and operated hy tho Unite
Slater smelling company, an the Ftur
Iof which Or owned hy the United state
Smelling. gvfining ana Mining com
puny. and the yarioug stocks In sui
Iidiary companies formerly held by an
United States Mining company ar
now held by the United states Sm"l'
ing, refining and Mining company
Tnurh Medicine EOr children.