Arizona republican., 1917-04-29

returns are currently being received. On February l5 the regular quarterly dividend of $1.5O and an extra dividend Of soc was diSbursed. IL was then es- tim2ted that Miami would earn 20 per cent for the shareholders this year, as compared with about 10 per cent calcu- lated for last year. Net profits for 1916, based on an average price of 2412c on a production of 53,453,S6 pounds of copper are placed at S000,00J and fig urirg on 2Sc average for this years output on an even production, the net profits are calculated to approximate 11,250,000. The actual cash and value of copper an hand after payment of dividends in February were stated to be approximately s5,700,000. This in cluded only copper out of mine, sold but not deiIvered nor paid for. Miami's production for March was 5217, ,903 | pounds of copper, as against 4,l02,UUU pounds produced in the third month of , last year, a gam of more than 2 per cent. Februarys output was 4,210, 7S0 pounds, the lowest since April, 1916, while January's was 5,020,31O, the com pany's previous high record. The total for the quarter was 14,449,053, and compares with 12,002 936 for the cor responding period of last year, a gain
 
 for the last quarter of 1916. If the aver age of the last six months production be maintained for the rest of the year the total would come cIese ,u s-,Jv ; pounds, an increase Of more lnali A. UUO,UUO pounds, the profits on which were not included in the above esti- mates.
 Ray Hercules
 According to advices fl om the prop critics of the Ray Hercules Copper com pany large force of men is employed on tne construction work now being pushed as rapidly as possible, with concrete beng poured tor the mill, Crusne4s, ore pins and power house. The company intends staring the mnl with an initial capacity Of 1000 tons of ore daily, while the second section is to go into operation shortly thereafter Contracts for machinery have all been let; are now in process Of manutac- ture, so that as soon as it's delivery has started, it should not be long before Ray Hercules enters the producing ranks,-posslbly by next autumn Ray Hercules IS salu tU have upward of 1O.- O0O,0O0 tons of ore, Which will average 7 per cent copper, with an extraction of S5 per cent. 1t is estimated mat rne 1 ore m sight will last fourteen years and 1 ' G III. 1t is believed that on a production of 25,000,0O0 pounds of copper year, at Q cost of SR or 9 cents a pound, the company could earn better thal. SI a share on l5-cent copper, and better fthan So a snare witt the metal sellins { at 25 cents a pound. Ray Hercules in February earned $22.00U from the ship Inents oI surface carbonate ore During ] previous months the company reported a profit of between $20,OU0 and S25.OOO Tom the shipment of these ores Months Copper output
 1 BlSBEE, Ariz.. April 2S.-Arizona /, will produce this month in the neign- bornood of 60000,000 pounds of copper from all sources; acording to estimates made by the Arizona Chapter or the AMC. This metal on the quoted metal price of 29 to 30 cents for immediate delivery would be worth S1S.0O0 .O0O : However, the bulk of Arizona copper is sold up to July and beyond at 7. cents minus delivery charges to purchasers amounting to about cents the pound in foreign countries. So the Arizona producers are receiving actually about A cents the pound, although they are paying wages on the basis o1 the quot ed market prices fi on day to dav. A further deduction must be made from NiiCii h1luetI icSClplS lIOIH output, too by reason of the fact that they are SUD- ] plying all the needs of their own gov ernment at 1612 cents the pound. fhls ! tonnage is not as yet great, but it cuts ! into the total quite . bit, just tht same. A few cents off on the price oi i copper makes more of a difference than the average layman is likely t6 i grasp on first thought. For instance at 30 cents this months Arizona out put would be worth s18,000, 900. But al 1 the actual price being received of 24 cents it figures out S14,000,000 a con- i siderable cut. However, there are moi many states in the Union engaged ir the production from the ground Of any single commodity to the extent of S14, ] 900, GOO d month.
 : Vast Sums Put in C'-cui-i;--
 Arizona mines pay rolls will reach something like s5,000,000 this month n Included in this roInu .Ig7. II