Bisbee daily review., 1915-11-14
UTAH COPPER MAKES
PRODUCTION RECORD
IN THE LAST QUARTER
Big Steam Shovel Mine Produces
Over Forty Million Pounds of
Copper for Quater Ending
September Is.


NEW YORK, Nov. 13.--For the quar-
ter ending September Is. 1915. Utah
Copper treated 2,49S,4OO tons of ore
which produced 44,766.S41 pounds Of
copper, at an average cost of 7.64c
per pound. which is reduced TO 676c
per pound after crediting miscellane.
Gus earnings.
The average selling price of copper
for the period is reported as 16252c
per pound This leaves a net profit
of 9.492c per pound, which makes to-
tai profit for the quarter, including
dividends from Nevada Consolidated
rof S4.4l4564 These earnings COM
pare with $4.412,299 for the preceding
quarter. and are at the rate of $2.71
per share quarterly, or $1O.S4 per share
per annum This is almost treble the
dividend requirements Of "a per share
per annum which the company is at
present paying.
From the foregoing data it becomes
evident that Utah Copper can well af-
ford TO increase its present rate or
else declare extra dividends. as ire
mendous surplus has been accumulat-
ed during the present year. and at
least a part Of this may safely be dis
bursed without in any way weakening
the companys strong financial posi-
ton
The average grade of the ore treat
ed during the quarter showed a slight
decrease from the previous return and
the extraction likewise was lower. but
this latter is accounted for by the
presence of considerable copper in the
form Of carbonates, as well as the un-
usually large tonnage which was
crowded through the mill While the
grade and extraction for the quarter
were slightly lower than those of the
preceding quarter, these are more than
balanced by the increased tonnage
handled, which resulted in a larger
production of the red metal
The work being done at Utah Cop
per is evidence of the desire of the
management to secure the greatest
amount Of profit during existing high
metal prices. The company is deter
mined to take the fullest advantage
Of the metal markets. and is adopting
the wise policy Of sacrificing a portion
OF the metallurgical efficiency in order
to get a bigger profit and thereby in
| crease earnings. The company's re-
sources in the matter of ore reserves
are so great that slight sacrifice of
this character is immaterial. What is
aimed at is the best net results.
Utah Copper earnings for the first
three quarters of the year amount TO
$19,994,27S, which exceed the highest
earnings for the same period of time
in any previous five years by over
100000
In consequence Of the enormous sur.
plus which has been accumulated dur
! ing the present year, Utah Copper
stock at the present time is in a very
strong financial position and the issue
is one that attracts the best class OF
investors.
The earnings of the Utah for the
quarter just reported cover the most
favorable period of the year for sue
cessful operations, including as it doe,
the months of July, August and Sep
TENDER, when weather conditions ar,
most perfect. The earnings for tn,
last quarter Of the year are likely t,
show a slight decrease from thes,
Just reported but nevertheless tn,
prosperity of the company is undoubt
r ed and far exceeds anything ever prog
nosticated for il.