Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1920-10-12

tion Of copper amounted to 4O,4SS,- |
| 100 pounds, containing gross /.
/ vaIuc Of SGS0S. 69759, the expense /,
/ Of mining and marketing the cop
/ per amounted to $I,t5l, 24S,N4, or !
/ net loss on opera ions tor the year
/ of 1919 Ul $442.65l.25.
1918.
For the wear 1918 this company
produced 15.655,641 pounds of cop
! per having a gross value of SlI,-
0445S0.&5, the expense OF produc-
ZION. ouera.ion and marketing for
the year 1918 was $l4, 39.3ie.o5'
income tax maid. $327.lll.60, total
expense, $l4.166.453.l5 leaving a
net ptuGu for the year 1918 of
$g.@N3,IGI.-O.
1917.
For the year 1917 the Chino
Copper company produced 1856
225 pounds of copper at 81 market
value of $l9,205.145.6l, at an aS-
gregatc expense of 81, 5b92S9OS,
income tax, 1919, 1885, excess
profits tax paid, 1859, 0lh.tS, ad~
ditiuua tax paid, $29,596.lt, total
EXPENSE $I44T7,0l0.S leaving
net profit uf $4,12S, l54.69.
Thus the annual net profits Tor
the years 1917, 1918 aud l9l9
shows an average Of 81 69,2So'NH.
At the present time there IS out
standing $4,000 shares of stock OF
the Chino Copper company. AC"
cordmg to market quotations would
ho vaIued Mt $4,000 a share or
,ntaI of $o2.75O 900. Estimating the
= life of the property at Twenty-Five
years nroduction in order that the
Stockholders might realize + per
cent net on their investment, net
n,.ofit of 10 ppr cent would be re-
nulred Ia meet the disbursement
If dividends amounting to per
cent and per cent reserve to take
care of fine principal which would
ha eouivalcnt TO an annual dis
! increment of S2.275.00U. or $S5,-
4f4 in excess of the average actual
annual nrofits for the years 1917,
Io1S and 1Q19. 1t must I've borne
IN mind that the years 1917 and
, 101S were banner production years
nnder hirh war prices and the
) ,jnId far above normal peace time
,,nriods The year 1916 vas anoth-
$ az ono of the war time maximum
~ ,roductinn at war prices which
y CLOSELY approXimated the year 1917
in aggregate gross production.
These facts may be verified by
aaolngicol reDorts as to annual
5 cross production and values and
En- ~ mo inflammation Is no doubt
!, -, me hands Of the special COM
II ,,iosio, onnnipted NV the governor
wtn investigate and report on tax
e a,Nnditions and legislative require
ii ,,,nntg' N"aded to Fix proper and Just
m,,,,nrtinnment nf the burdens Of
taYotion
II pnnding the investigation of the
'e ,,,(,,t h,t Emo snerial commission a
e ~ 'Inosend and enacted into law
~ ,jrrin,r the last legislature which,
= tFoot ,ro,,idad an arbitrary tax
- mon All mining companies for the
u up 1oio ana 1920 upon produc-
J tto, oanaI to the average of the
- ,,oars toto 1917 and 1918, being
- W. hornar production and values
af ontnnt during the war.
~ "Eoolish Argument"
rnts mi was Introduced by Dan
;o1 padilIa and Isidoro Armijo, and
except for this legislation the tax
,|ion nrodnct from several Of the
t't,,a, ,ronld hova heen greatly re.
3"ood and rightfulIv so in view OF
,hn "rnatIv reduced production II
~" ana value. The foollst
a ap%nncnt has been submitted by
a. az . donocrntic publicity director
~" a house ana lot worth 5000
and bringing an annual rental o
S SE0o were taxed on the basis o
fha mine tax law that it would pa!
s'e ta 'x'' of SIS Instead of $3.50. TIL,
reverse is true if taxed upon tn
would nav the $3.50 plus the 81
taxes on revenue. In thls coiIneG
ton it is noted on the tax record
u ,n"s taxed for the year 1919 upo