Kennecott Copper i>hows
Oooq \ear
Tlie eleventh annual report of
the ivennecott Copper Corporation
recently was made, president Steph
en Birch in part stating:
“The consolidated net earnings of
the corporation for the year
amounted to $6.21 per share, before
deductions for depreciation and de
pletion. After making a proper al
lowance for depreciation at all the
properties, earnings per share were
$5.34.
Troducuon from the Alaskan,
South American and Utah mines
amounted to 411,088,027 pounds of
copper. This does not inciude our
equity in the production of the Ne
vada Consolidated and Mother Code
properties. Average cost of pro
duction during the year after charg
ing in depreciation and taxes and
crediting silver and miscellaneous
earnings but before depletion, was
8.07 cents per pound. The aver
age selling price during the war was
on the basis of 14.286 cents per
pound of electroly copper.
Dividends Increased
“Three dollars per share were
disbursed to stockholders during
the year in equal quarterly pay
ments. un IN o vein her 16, la^o, the
directors increased the quarterly
distriuuuon, pa>auie January z,
J yzo, to ♦r.uu per snare.'
ionnage oi copper nuned at uie
lour properues is given aa lonovva.
man chopper, j.z,oJ5,juu; nrauen,
lunne;, 4,Zii,UUU; i^aioucne, 4yz,
uOo; Kennecott, zt>.
Tiie grade oi copper ores, how
ever, shows the Kennecott still pro
ducing a rich quality while the im
mense quantities from the Utah and
Braden mines are of low grade. The
Kennecott ores are 10.72 per cent
copper, with 10.72 ounces of silver
to the ton; Latouche 1.663 percent
copper And .23 of an ounce silver;
Braden, 2.349 percent copper; Utah
1.02 per cent copper.
Alaska Shipments
Shipments to the Tacoma smelter
irom the two Alaska mines amount
ed to 54,351 tons, containing 369,
183 ounces of silver. The average
metallurgical efficiency of the two
plants combined was 93.73 percent.
Tlio Kennecott concentrates con
tained 40.8 per cent copper (94.24
per cent recovery) and the
i^atouche concentrates 21.09 per
cent copper (84.84 per cent recov
ery).
“The copper industry is in a
strong statistical position,” Mr.
Birch writes.
Kennecott owned at the end of
the year all the stock of the Braden
Copper Company and more than 95
per cent of the Utah Copper and
Alaska Steamship stocks. In view
of the common ownership a consol
idated balance sheet was presented.
Operating revenue is: Copper
$58,988,789.65; gold and silver, $2,
227,862; railroad, steamship and
wharf, $6,546,453.59: total, $67,
8 63,114.39.
Operating Revenue Huge
Operating costs for mining, treat
ment and delivery aggregate $33,
087,535.17, and railroad and steam
ship and wharf costs, $4,803,535.27
totaling $37,891,028, and leaving a
net operating revenue of $29,971,
o85.77.
Offsetting this amount were in
terest on short term notes of $495,
556.66; taxes of $3,369,158.71, and
depreciation of $3,991,607.13, leav
ing a net income of $24,430,607.74.
Of this amount Kennecott receives
all but $540,243.35, which went to
the minority stockholders of sub
sidiary companies.— News Miner,
Fairbanks.
THE DRIFT INN
L. A. OLSEN, Proprietor
Pool Hall—Cigars and Tobaccos
Furnished Rooms
Wrangell, — Alaska 1
KETCHIKAN FOUNDRY
H. P. HANSEN, Prop.
Manufacturer of
STAR TROLLING GURDIES
Phone Black 121 Box 843
c — —--j
~~ -—-*
Electric Laundry
Phone 156
GENERAL LAUNDRY
WORK
All Work Guaranteed
F. H. Bold, Prop.
....Ill.... ..
| The Price and Quality is Right at |
| PEOPLE’S CASH STORE |
1 We handle Men's Underwear, Shirts, Sox, Ties, 1
1 Quilts, Pillows and Blankets. I
| Mrs. J. W. Young, Proprietor |
| Newtown, Ketchikan, Alaska I
CANADIAN FISH & COLD STORAGE
COMPANY, Ltd.
PRINCE RUPERT, B. C„ CANADA
offer to the fishermen of Alaska the means of obtaining
highest prices for their halibut and salmon.
We have recently reconstructed our ice plant and now
produce only hard transparent ice which preserves the fish
one hundred per cent.
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