Bisbee daily review., 1917-03-25
PHELPS DODGE EARNS
 BIG SUM IN YEAR
Continued from psge one.l

Continued from pSge onel With profits per pound of 6c. 7c. Sc. 9c, 1Oc, He, 12c
 On the basis of 27.000 tons per day and assuming not more than 5.4OOO0O shares of stock outstanding. the earn ings per share would be as follows:
 Profits per lb.. 6c, 7c. Sc, 9c. Toe. He. 12c.
 Profits per share. $3.SS; S3.S9; $444 $500; S5.56; $G.1l; S6.67. The company's plant began parial operation on May IS. 1915. and for that year produced 1O,944,S2 pounds of refined copper. at a profit of S2o- 46S. This small profit was due to the insignificant production. The following is the record produc- ton. costs and profits since tue plant started operations:
 ' 1915. C 1-2 months) 1O,944.S24 lbs. Cost f. O. b. plant. 16S4c; Total cost per lb. delivered. 1S.55c; net profits, s3O.46S
 1916. O2 months) Al. 305,476 lbs. cost. f. O. b. plant. 1176c; Total cost per ID. delivered, 15.65c; net profits. $4.1O2, POP.
 1917. (2 months). 13.S12OOO lbs Cost f. O. b. plant, 964c; total cost per lb delivered. 13.24c; net profits. ST. 723,O0O
 Although mining and treatment cost has been constantly decreasing since operations began in May. 1915. it IS still high, due to comparatively small production. Transportation and insur- ance costs are exceptionally high. be- ing approximately two cents per ID above normal costs prior to the war.
 The process of ore treatment has been proven a complete commercial success. Engineers estilzate that upon the completion of the proposed addi ton to the plant 27,000 tons of ore can be delivered to it daily; that the av craze of this ore from the oxidized ore body will be 1.91 per cent copper; that an average extraction of SS per cent can be obtained and that 300,000,000 pounds of refined copper can be pro duced annually and delivered in Eu rope or the United States at an aver age cost of six cents per pound.
 The .extractable contents of the pro ven ore (354, ,7OO,O00 tons) is calculat ed at 6,SO4,564 tons of metallic copper which at the low profit of six cents per pound would yield gross profits of $S16,547, ,6S0.
 The present plant is now producing at the rate of over 5000, 900 pounds of refined copper per month. This produc ton will gradually increase until bv the latter part of the present year it should reach approximately 10,000.00e pounds per month
 For ten years prior to the European war the average price or copper was 15 1-4 cents; since August. 1914, the price has averaged 22 1-4 cents.
 The new bonds, convertible int stock at S35 per share, are to be SC cured by the pledge of the entire can itai stock cf the Chile Exploration Co subject only to the existing lien of s15.OOO,OOO of the Chile Copper Co.'S ' per cent convertible bonds
 NICHOLS COPPER.
 Despite reports to the contrary, Nichols Copper Co.'S big refinery at Long Island City is still running. Workers to the number of 475 have re turned to the plant, leaving more than 1000 still out on strike.
 The company has written the strik- CTS, requesting them to return and pointing out among other things that wages were voluntarily raised last year, the increase amounting to some thing like eight cents an hour l. isl