Document B5d52vNZZBy1xdoQzD6MVnqak
Resolution a adopted ratifying and approving the action of the Officers in authorising additional Appropriation in the anount of *l.$o m connection with Estimate So. 470 and cancellation of excess Appropriation in the amount of *95.90 in connection with Estimate So. 160.
pNYC000067?7 ^11105
' Sgc_re tary13 Co p t
INTERNATIONAL SMELTING AND REFINING COMPANY
ll:QO A.M,
DIRECTORS1 MEETING - JANUARY 22, 1946
PROGRAM
DIRECTORS
Cornelius F. Kelley--^
W. H. Hoover/ Frederick Laistv/
Robert E. Dwyer s
Clyde E. Weed /
James R. Hobbins 'J /
Elbert 0. Sowerwlne''
Minutes of the Meeting held December 26, 1945, to be read and approved.
Presentation of Statements of Net Income and Net Current Assets as of December 31, 1945.
Approval of Aoproprlations:
No. Description
477 Additional appropriation covering construction work com pleted at Perth Amboy but in excess of amount originally appropriated on Estimate No. 470.
Amount $ 1.50 y
160-A Cancellation of excess appropriation In connection with Estimate No. 160 for water lines and Installation of fire hydrants at Tooele Plant.
$95.90 \J
JjbfTiCf ^ / ' J 2.
Adjournment.
LV-v
,ULx*
-j
PNYC00006778
N11105.01
INTERNATIONAL SMELTING AND. REFINING COMPANY SUMMARY OF REGULAR MONTHLY MEETING OF BOARD OF DIRECTORS
HELD DECEMBER 26, 1945 (Previous Meeting)
Minutes of the Meeting held November 27, 1945, were read and approved.
Statements of Net Income and Net Current Assets as of November 30, 1945 were approved and ordered placed on file.
Resolution was adopted ratifying and approving the action of the Officers of the Company in authorizing Appropriation in the amount of $11,475.00.
Resolution was adopted ratifying and approving the action of the Officers of the Company in executing, on November 16, 1945, a new Smelter Contract between this Company and the Copper Canyon Mining Company.
Resignation of Mr. William Wraith as a Director of the Company.
Election of Mr. W. H. Hoover as a Director to fill the vacancy created by the resignation of Mr. William Wraith.
Adjournment.
/
N11105.02
IHTBBBATIOKAi SMBLTHTO UTD BBPUtUTQ OOMPUTT uacEimiiM f o r p ib s c t o h s i lcngprs - Jiimigr 22, 195^?
B3TIMATSD BBT IHOOME
Month of
December 1945
Smelting Department Earltan Copper Forks Laad Hefinin# Department Sint Oxide Department White Lead. Department Accrued Interest on Ad raneee
to leases Sold Miscellaneous
*21.7.51 76 , 501 5.065 2,369 3,952
Deduct: Glacier Peak Lease - Cancelled Adranee 8 Written Off Loss on Sale of Claims: Walker Mining Company MoinistratiTS Expenses Capital Stock Tax Miscellaneous Taxes Interest - 6% Debentures
- Anaconda Copper Mining Co.
- 1939 Income Tares
$47,268
$**
. 14,000
-
$14,000
Loss - depreciation It Obsolescence
$33,268 48,513
Federal Income Taxes
$15,245 .-
TOT 15COM3
$15,245
Add - Wet Inootae of Subsidiary Companies
-
CCHSCLIDAIZD BBT 15C0M1
$15,245
Month of HoTemper
1945
$ 6,170 45,804 3,991 557 6,020
_ -
$62,542
$-
_ 8,717
-
$ 8,717
$53,825 49,260
$ 4,565 1.300
$ 3,263. -
O1M1
Twelre MOs, ended Dec*
31, 1945
Trelre Mas. ended Dec,
31, 1944
$ 240,876 1,134,115
72,505 86,384
3,244
$ 42,243 1,043,828 69,915
22,711 7,594
18,500 18.296
$1,092,168
101,705 $1,203,510
$ $ 60,711 4-5,240
44,628 120,642
10,000 8,675
56 . 501 8,295
$ 248,741
$ 843,427 586,054
107,319 10,000 8,773
234,639 161,274
$ 627,956
$ 575.554 669,854
$ 257.373 $ 94,300 89,198*
$ 168,175 371
$ 168.546
$ 94,300 82,997
$ 177,297
OOHSOtlDimB) 3QHPIJB ACCOOTT BALAKC1 - January 1, 1945 (id.justed) OS - jret Income - TTelre Months ended December 31, 194-5 BALAKCI - December 31, 1945
$ 642,441 168,546
5 810,987
includes Federal Income faxes - 1939
$ 25,498
' pNVC0C0067e0
N11105.03
ln. 3^0...
cjtldhL ^q0 Th^]sa- C^F&
IOTEBMATIOMAL SMELTING AND REFINING COMPACT MEMORANDUM FOR DIRECTORS' MEETING - JAHUART 22. 194 6
ESTIMATED NET INCOME - SMELT IRC UEPABTOnarr
Tooele Lead Plant Tooele Copper Plant Tooele Sulphide Concentrator Tooele Slag Plant Miami Plant
Deduc t: Tramway Expense Outside Exploration Selling Commission Oxide Concentrator
Leea: Depreciation SET ISC OKS
Month of December
19*5
$ 27,59*
.265
3.7*7 2*.366 17.500
$ 2*.7*0
Month of November
19*5
$ 7,808 16*
10,02*
23,232
16.815
* 8,797
Twelve Mos. ended Dec.
31, 19*5
Twelre Kos* ended Dec* 31, 1944.
$ 274,3*9
$ 273,850
225.026 21,527
286,165 237,906
267,315
2*1,003
20.57*
153.61*
* L89.959
$ 72,508
$ 150 *50
1,811 600
i 3.ou * 27,751
17,711 $ *5.*62
$ 150 *61
1.355 661
$ 2.627 $ 6,170
17,11* $ 10,9**
$ 2,370 18,678 22,79* 7,075
$ 50.917 $ 2*0,876
201,221 $ **2.097
$ 1,9+3 67,739 30,106 1+.963
* 114,751 i *2,2*3
2*9,758 4 292.001
PNVC00C06781
N11105.04
INTERNATIONAL SMELTISC aJED REFINING COMPART MEMORANDUM POE DIBECTORS' MEETING - JARUART 22 ISAS
ESTIMATES) NET INCOME RARITAN COPPER 'NORIKS
Profit on Toll* Profit on Premium* Profit on eliding Metel Profit on Sale* Slectro Sheet Department Miscellaneous Income
Less - General Expense Selling Erpeueee Buying Erpeniee
Lee* - Depreciation Set Income
Month of December
.1945
$45,. 954
25,721 -
8,880
3,246 1,000
$78,309
Month of Sorember
194-5
$29,570 17,822 3.253
363 821
529 $45,852
Tw o It b Moa, ended. Dec.. 31. 1945
TwelTe Mos ended Deo.
31. 1944
$771,120 245,587 60,465 73,226
$ 818,463 104,122 54,779 86,845
9,501 13.845 $1,154,741
18,896 2C 113 $1,065,426
$1,808
-
$ 1,608 $76,501
24,747 $51.754
$48
-
$ 48 $ 45,804
??l 8*6 $ 19.988
$ 2,000 11,030 7.596
t 20.626 $1,134,115
320,513 $ 813.603
$ 2,000 8,820
10,778 $ 21,598 $1,043,828-
332,607 $ 711.221
PNlTC000067a2
M11105.05
nraEOTiTIOlUL SMELT ISG jJTD HEglHIHG COICA^t Matosmsuu t o b d ib bc p o bs ' gernre - jurom 22, 1946 STIMiro KaT IICOKB - LSAP BSPIBIBG, ZUC OXIDE ASP THUS LEAD DgPWHSITS
LEAD BEPISIBC DEPiMlfflHT Operating Income Depreciation
ZIKC M11S DBPABTMBBT Sales of Sine Oxide Slaw Zinc
Cost of Sales - Zinc Oxide Slab Zinc
Operating Profit: Zinc Oxide Slab Zinc
Depreciation: Zinc Oxide Slab Zinc
Het Income: Zinc Oxide Slab zinc
ZIBC. OXIDE Pounds Sold Sales Price Coat of $ales
SLAB ZIBC Founds Sold Sales Price Cost of Sales
SHIPS LEAD DEPABOCHra Sales of Lead Products Cost of Sales
Less: Depreciation
HEP I5C01CB
Pounds of Lead Products Sold Sales Price Cost of Sales
Month of December
1945
Month of SOTember
1945
TelT Mo. ended Dec*
31, 1945
Tselre ifos ended Dee.
31, 1944
$ 3,065 2.753
$ S,5lR
$ 3,991 2 ,882
$ 1 .109
$ 72.505 29.283
$ 43,222
$ 69,915 33.702
$--16,21?
$ 73,297 20.6J2
r?r!w
$ 75.666 20.692.
$ 96,358
$68,266 12.437
$86,703
$67,709 12.437
$86,146
$1,289,409 270.744
$066,153
$1,203,025 270.744
$o!iw
$1,413,558 102,616
$17516,171'
$1,390,847 102,616
$1,493,163
* 2,369 i.?6?
* 557 $__121
$ 86,384 $ 86,384
$ 22,711 % 22.711
$ 1.249 022
$ 1,012 rot?
* 16,073 $ 16,073
$ 24,616 $----- J175I7
$ 3,618
$ 3.613
1.030,565 7.11* 7.34*
250,130 S.27< 8.27*
$ 455
*___ 21
963,900 7.08< 7.02M
150,058 8.29M 8.29M
$ 70,311
$ -1,905
$ 75T3IT ' $
1.9C5
15,617,265 8.26m 7.75M
16,375.783
8.55M 8.51M
3,220,718
8.41M 8.41M
1,217,492 8.43M 8.43M
$ 81,920 % 100,314
77.968
94,294
i 3.W2 $
6,620
2.093
2 .*36
$ 1.899 % 3.584
962,496
8.51/ 8.10M
1 ,150,626
8.72M 8.20M
$ 795.527 792.283
$------- Jfm 18,964
$ 15.720
9,001,440 8.84M 8.80M
' $1,189,403 1,181,809
$' T.M 29,171
*___ 21^21
13,546,933 8.78M 8.64m
P',rc< 'oo,,83
N11105.06
iilflipraip
T
INTERNATIONAL SMELTING AHD REPINING COMPAST iraiOBAMBUM FOB DIRECTORS' MEETING - JAiTOABT'22, 1946
NET CURRENT -tND OTHER ASSETS - DECgtBSS 31. 1945
CURBSNT ASSETS: Supplies Metals: In Process Finished: Le&d
Copper Silver Gold
By-Products
7>6,i2rc44. lb?, 16,o 31,o 85 lbs,
1,815,4.21 ozs,
10,603 023 j
4,468*"
Q 8,9?6^ 36,H i 0 $34041
Reserve for Freight 4 Refining Charges
Manufactured Products: Lead Products Zinc Oxide
Raritan Copper Works - Electro Sheet Department
Accounts Receivable: Tolls Others Inter-Company - Anaconda Sales Company
Cash
$350,412 1,514,192
656,520 365.051
20,628 $046; H6J
782.541
$ 158,507 415,863 7,998
$ 971,492 467,653 427.152
$ 930,268 2.331,326
2,124,262
582.J68
1,366,297 652,883
$8,487,404
CURRENT LIABILITIES: Taxes Accounts Payable Wages payable
k et t cuRBarr a s s e t s
OTHIE ASSETS*. Advances to sundry mining companies, including advances on ores, less reserves Installment house and land sales and other accounts receivable, less reserve
BALANCE- - RET CURRENT AST) OTHER ASSETS
$ 131,488 992,113 109.529
$ 4,882 6.198
1.233.130 $7,254,274
11,080 $7,265,354
N11105.07
INTERNATIONAL SMELTINO AND REFINING COMPaWT MEMORANDUM FOB DIRBCTOBS' MEETING - JANUARY 22, 1946
SALES, DELIVERIES AND PRODUCTION - ALL DEPARTMENTS
Month of December
19*5
SMELTER PRODUCTION: Copper - Lbs.-Tooele: Custom Toll Miami: Custom Toll
Lead - Lbs. Tooele
52,086 *28,98?
199,95* ' 9,110.257 9.791.280
3,296.751
SCRAP COPPER RECEIVED AT PERTH 4M30T Custom
Fabrication Toll Metals Reserve
137,232 1,392,0*2
-
REFINERT PRODUCTION Copper - Gross Less - Toll Scrap
Lead - Lbs. Silver-Oss. Gold - Oss.
SALES: Copper - Lbs. Tooele Miami Raritan
Lead * Lbs.
DELIVERIES: Copper - Lbs. Tooel. Miami Raritan
Lead - Lb*.
ZINC OXIDE: Production - Lbs. Deliveries - Lbs.
SLAB ZINC Production - Lbs. Deliveries - Lbs.
*1,221,223 1,392,0*2
39.629.181 6,074,813 806,875 6,831
250,000 1,308,697 la-558.697 7,758,106
82,725 199,95* 1.308.697 1.591.3765,669,690
678,000 1.030,565
7*1,*00 250,130.
Twelve Mos. ended Dec.
31, 19*5
5,5*7,051 8,189,005
3,122,7*1 128,476.953 1*5.335.7*8
38,457,771
1,315,626 17,170,929 mnm.fss
364,875,680 17,170,929
3*7.704.751 71,258,5*6 9,362,415 77,631
*,892,450 3,175,000 1.6*5,738
73,3*2,090
5,5*7,05* 3,122,7*1 1,647,471 To: 317.266 52,759,482
16,396,770 15,617,265
3,859,69* 3,220,718
Twelve Mos. ended Deo.
31. 19*4
Per Cent Cecre-.se'
9,950,299 15,530,990
*,912,578 134.891.532 rzrtzrm
*1,702,6*3
1,278,966 14,592,283
650,208 T6.561.457
508,951,272 14,592,283 358,989 72,516,877 11,231,420 101,205
12.3 7.2
11.6
13.1 1.7
23.3
10,650,000 4,300,000 1,124,886 T6.674.886
74,8*1,029
39`. 6 2.0
12,156,832 *,912,578 1,166,017
51,165,003
16,458,430 16,373,783
1,139,576 1,217,492
43.4 3.1
.4 4. D
238.7 164.5
PNYC0000676T5 ^11105.08
In t eb n a 31!^j ^3me l t in g a n d Re f in in g Co mp a n y
` Broadway, New York
Oman or t h * Vic-PrannoiT : `
faaaary II, Ht|
hr. r. A. itriliw, It ,, latemat loaal Smelting amd turn Quildiag Salt -4t City 1, Otah
leflmlag
0.
Saar frti*l
Baiar data af-Beaeaher Hat yea *r*la aa ataat Hi rut tttt ta baltg niiti far tha parpoaa
af arettlmg a Karaoa hsaaaeat at tha aomfcli of bliratlat Ceayoa. ta that latter yam abated that tha 9, t. ia*lti( Ceayaay aad tha I, I, a 1, haeltlag ceayaay ara aaah taking a aaatrthattaa af tf0M aad ra eaggeated that Xaaaeada ar rathar Ittoddiaul ahaald aaaaldar aeatrltattag a Xifta aaaaat
Tha aattar we a hreaght ay thla aeralag at tha Sireatera* Meeting af tha Sataraatlaaal laaltiii aad ieflalag Ceayeay hy hr. lahtlaa aad a retaintier *a yeaeed ayyraeiag a aaatrthattaa ta tha aaaaat af #,Odd. Z eaeXeae a aayy af tha raaalatiea. ItU yaa yleaaa aaa that tha yrayar aatharltlaa ara la* farmad aa ta tha tables af tha eeayeay.
laara rary trmly,
Original signed by Frederick Laist
hr. v. K. half
PNVC000067ti6
N11105.09
INTERNATIONAL SMELTING AND REFINING COMPANY SALT LAKE CITY 1, NTAH
e P
7
December 21, 1945
Mr. Frederick Lalst, Vice President International Smelting and Refining Co. 25 Broadway - New York 4, N. Y.
Dear Mr. Lalst:
Sometime ago I wrote you in anticipation of a request tor contribution by the Committee for construction of a Mormon monument at the mouth of Emigration Canyon. I suggested at the time that, we 3ay nothing more about it because the committee had not yet approached me: I had hoped we might be forgotten, because with conditions as they are with the International Smelting and Refining Company I have not been overly generous with contributions of any sort.
However, now comes Hr. Orval Adams, President of the Utah State National Bank and also head of the committee on con tributions for this monument, with a sales talk, hoping that we might unloosen our bank account to some extent. I talked him down pretty well but our conversation ended this way: He told me that the monument was going, to cost close to #500,000, that already $315,000 had been subscribed and that some of the con tributors had been Union Pacific Railroad Company $25,000 D- A R. G. Railroad Company $15,000 - Utah Copper Company $15,000 - 0. S, Smelting Company $5,000 - A. S. & R. Company 65,000. I pointed out that most of these fellows were in the excess profits bracket this year, and while I didn't want to discount their generosity, nevertheless I could see where they might be asking the United States Government to pay 805t of their contribution, which I understand Was not the case of our company. Adams made the statement that it might be of Interest to us to know that in the construction of the monument they were using $92,000 worth 9$ brass. I wondered if it wouldn't be worthwhile to ohoojfc with our Sales Department and find out if we are getting aaypart of that business. If we are getting as much as half of it, which I think we are entitled to. Anaconda might then well consider the possibility of making a contribu tion of $5 ,000.
I have told Hr. Adams that the determination of this contribution was out of my hands, that it was something X would have to refer to you, and that I wouldn't be able to give him any.answer until I had a letter from you.
Very truly yours,
(sgd.) F. A. Wardlaw, Jr. Manager
PNYC00006787
N1H05.1
Mormon Church for a contrihut1^f%&Pf!al from the the erection of a
Utah.
at
and unanlmoualy^adopted*** n notlon mado' seconded
SoSSra (|s,ood-!SJ)15t5S? u PIVE rawsAra
Fund for the erection of a mn^000 Church Monument
Canyon, Utah."
f * monuiMnt at Emigration
r
PNYC00006788
N11105.ll
In t e r n a t io n a l Sme l t in g a n d Re f in in g Co mp a n y
25 Broadway, NewYork4.N.Y
January 22, 1946.
mwotuipw TO. m. waomioc u l ia t i
For yaur information 2 quota balov raaolutlon adoptad by tho Board of Dim a tora of Xntaraatlonal Saoltln and Raflning Company at a Maatlnc bald today*
RMOLVXD, that tba propar Offloora of tha Company ba and tbay boraby ara authorlaad to arranaa for a contribution of FIT* TB006AID DOIAAW (#6,000.00) to tba "nhim Okorab nrii m T Fuad far tba amotion of a aonuaont at Balfratlon Canyon. Otab."
0. X. bOldl Baarotary
cn/i
N1U05.12
A regular abating of tha Board of Dirac tor* of tha
IXTBHMAflOSAI, 3MKLMM0 AMO RKPIMIMO COMPAMT t u hold at tha offlaa
of tho Conpany, Mo. 28 Broadway, Mo* fork, M, Y., on Tuoaday,
January 22, 1848, at 11:00 O'olook A. M.
rUUITi ABSKKTt
Maaar*. . H. Hoovor
Prodorlok Lalat Rokart K. Dwyer
.Clyde K, Mood
Jama X. Bobbin* llbort 0 Soworolna
Mr.
Corn*11ua P. Kolloy
la to* abaonoo of tho Proaidont, Mr. Prodorlok Ulat, Via* Proaidont, aatod aa 'Chairmen of tho Mooting and Mr. C. B.
Koran, Secretary toaroof.
Tho alnutoa of tho regular aonthly sooting of tho
Board of Dir*#tor* hold Doooabor 28, 1848 oar* road, and on notion
duly nada, aooondod and adopted nor* approrod.
fb* Chairman proaontod to tho etitg; Statement* of
Mat Inooen and of Mot Curront Aaaato, oatlaatod aa of Deooaber 31,
1848, nhioh, on notion duly and* and aooondod. nor* approved and
ordered plaaod on fils.
On notion duly undo, aooondod and unaninoualy adopted,
it no:
mOLVXD, that tha aotion of tha Offioor* of tho Colony in approving tha folio*log Appropriation and oanoollation bo, and tho aan* horoby la ratiflod, approved and ooaflrnod:
Mo.
Oaaoription
Anount
4TT
Additional Appropriationt
covering oooatruotion work aonploted at forth
Aahoy but in ozooaa of aoount originally
appropriated Katina to Mo. 4T0.
| 1.50
Oanoollation:
1SO-A
oanoollation of ozooaa appropriation in con nection with Katina to Mo. 180 for *ater lino* and ioatallatlon of fir* hydrant# at fooel* Plant.
t 96.90
PNVC0000679Q
N11105.13
a
There waa presented to the naotlad I*ttar fro*
Mr. Ward!** with rafaranaa to an appeal fron tha Mormon Church for
a contribution to tho fund for tha araatlon of a noaunant at
migration Canyon, Utah.
if tar discussion It waa, oo notion aada, seconded and
unanlaoualy tdop tadl
IX30LVXS, that tho propar offiaara of tha Cenpany ho and they haraby aro authorload to arranga for a aootrlbmtloo of FIT* TSOUaUTD DOUAU (*5,000.00) to tha Itoman Chureh Monument Fuad for tha araatlon of a nonunant at Emigration Canyon. Otah.
Thara balnd.no further buelnaas bafora tha Board,
on notion duly aada, aaaaodad and adopted, tho mao ting adjourned.
(CORPORATE SEAL)
(3) C. E. MORAH ioorotary.
(3) FREDERICK LAIS! 2Ea3KSSi7