New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-11
Relevant
Information

Gulf States Steel - Sensational
strength of Gulf States Steel issues
furnished one Of the striking features
of Yesterdays market. The common
stock advanced to 1870 and closed Zo1'
points up at 1851. The second pre-
ferred also touched 1870 and closed al
129 with a net gain of 20 points. ne
movement was accomplished on small
volume of activity, with dealings OF
I 900 shares for the common and l'ioo
for the second preferred. The initial
dividend was declared on the s4,sZs'ooo
~ common stock in September at an
annual rate of per cent. The tuii
dividends are being maintained on the
81 ee2 300 6 per cent non-cumuiatiVo
nreferred and the s3,9s9,3oo Of Z per
cent cumulative preferred. Recently
an extra dividend of 8 per cent was
Maid or the second preferred. In tne
MIN. months ended September so the
company showed net income OF sl'oos'-
Gal. against 1911, 1892 in the same PERIOD
Of 1915. The company's properties are
located in Alabama, Georgia and Ten
n.ssee. After the markets close yes
terday the following item OF puohc''E
o sent around to newspaper offices:
Net onerating income Of the Gulf States
Steel Company for the month OF OCTOBER
Il reported at s364.47l. and after allowing
for depreciation. taxes ana te'e ssss OH
net income for that month Is 1850, 1ol'
which Il sl06, 227 in excess OF the Septem-
~ Ioie net The net operating income
for ten months ending October 81 amounts
10 1.945, 900, as against S42l,O ior the
same ten months In 1910. Inc results LOT
the month OF October are record ootn
"a 20 earnings and shipments OF finished
products.
Inspiration Copper.-All the copper
shares were strong yesterday following
the publication of bullish reports on
the market for the metal. Inspiration
was one of the leaders and on dealings
of $4,000 shares closed with net gain
of IL points, at SO. The high for the
day was 69i4. Last year it sold as low
as 1855. The company has been
producing copper only since the sum-
mer of 1915. In March last it began
having dividends on the S23,6OS,54O
mar 500 stock outstanding, with an
initial disbursement of Sl.25 a share.
This was increased to So in June, and
the present rate is So year. Inspiration
is now treating an average of $1,000
tons Of ore daily, and two additional
mill section. are soon expected to be
ready for operating, increasing the ton
mage by 1900 tons. Present production
i, estimated at the rate Of l20,000,000
pounds of copper a year with an aver
age cost Of cents. With copper at
% cents a pound. the company's earn
ings are estimated at approximately
500 a share a year. All the fixed
charges against Inspiration have dis
appeared, as whatever bonds had not
been converted into stock were re-
tired on September /. The two issues
originally totalled sl0.500,0Oo.
Anaconda Copper.-Yesterday's up
turn in Anaconda carried that issue
above double par for the first time on
record. The stock sold from OH to
lOl. and closed pa points up at 100,
with a total turnover Of l32,50O shares
There is s1l6,562, 500 Of stock outstand-
ing, with a par value OF $50 share.
Anaconds's present production is esti-
mated at 325,Ooo,ooo pounds of copper
a year, with an average cost Of 10 cents
q pound. With copper at prevailing
prices, earnings per share are estimat-
cd at more than s26 a year. The Ana
conda company owns 100000 shares Of
Inspiration and $4,000 shares of
Greene Cananea; also rs per cent Of
the Andes Copper Company, which has
under development a large low grade
copper property in Chile.