The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1922-02-06


Total .tiOg $50
The company has from it, dwell
inEs and stores some miscellaneous
earnings which have not been report
ed. II the mines should be shut down
this revenue no doubt would soon
come to an end
This il a Leading company. % paid
TO the Cnerckee 4 Pittsburgh Coal
n Mining Co. for royalties and rem
tails in the ten n fsS1 sos.
Cherokee n Pittsburgh Coal * Min
ing Co.
company expended Xeef.3Ob
on development, construction. taxes
ana general expense, leaving a bal-
ance OF S63. 302 for The period. cQual
to SO. $50 q year.
The continuance OF his income Is
doubtful for the continuance Of the
minine operation Is doubtful II how
ever ID should continue for the life
for which Mr.. Matson computes ore
reserved, 81 years, n would Ice worth
az 6 per cent Interest, tS7.lg2.
The company has on It's books AZ
ter depreciation.
Plant ana equipment .ti2s.ss9
DEVELOPMENT 1888
Total tlts W.
~ bEo Hhih uhWn It's ltHdh Ut Nlhtfr
Use, but there IL nothing iu the
record TO show that they are worth
anything
Carthage Yield
B H.. kinney, o. private concern.
has operated only In the period Of
high prices in 1916.
From .GT.G39 tons the profit was
Sl02. z31, equal 90 co cents a ton
ReferrinK 10 tho statements Of the
81 Inetla uAaLN Mountain A. H.afFt.
company at Ration we find that in the
same period that concern made al
most exactly the same profit per lon
but for reasons fully discussed In thai
connection the average profit n
brought down 10 30 cents II seems
fair 10 estimate the same average for
this one. on this basis. assuming
the average output for the past ?
years. 5000 tons to continue we
have an expectation Of net profits Of
si3.T50 a year. with a lie Of q
wears. NJ s per cent interest. we may
calculate n valtN OF Ss9, 600.
Plant and equipment ttG.5Si
This Is the best small coai mine In
/ the state md probably the best man
aged. u Is run by Mr.. Kinney per
sonally with a minimum % overhead
expense. II presents two unusual feo-
lures One OF witch goes 20 explain
/ INV NilMll NNFNNNFAM FhIfuNfF
"a II Is tho only mine thai In
creased ITS output in 1921. rising from
5000 tons to &C, 600 tons
C2) For such an output the in
vestmeni, in plant Is ahnurmnuy
small. only - cents per animal ton
The lowest cost Of such Ca plant. in
/ New Mexico I would ordinarily com
mute ~ not less than twice that ng
ure. say $3.50 per ton: that 3d. o. mine
.hat can turn cut $1,000 tons would
have an investment In plant and
equipment OF not less than 500. 900.
The discrepancy however Is uppaT
mt. not real. for AIR Kinney buys
us power from his neighbor tho
Carthage Fuel Co, and has no power
plant OF his own
The accuracy or rather the conser-
vRtism Of my figure FOR plan and
equipment cost viii appear when We
take the two properties Of this field
together, and stiil more clearly II
we lake all the coal mines Of the
state.
The Carthage field has been pro-
ducing about 100000 tons a year Tile
total plant and equipment stands:
Carthage Fued Co .SisS.296
- H. Kinney t6.5Sf
Total for district .S234.SSO
Thus The average for the district
Ia 81 2i plus. for thd annual ton.
Carthage Iued Go
This property is not very profit
able. For 10 years. Ig11-1a2O. h
earned f516i5 from i63.i3G tons. II
cents a ton.
In the second hail Of the period
during the high prices il made only
SIS $50 from 252.97S tons. lesr than
Z CenfF "A ton.
The Goa seams are badly faultcd
and the reserve only i5e.0O0 tons.
Referring to the difference ia prof
IL between this concern and - NJ.
Kinney we find hat It is very large
iy accounted FOR by the item Of gen
erai expense" which IL o. cents q
ton against only IL cent? FOR Kinney.