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BOARD OF DIRECTORS MEETUP August 27, 1945r\ ' -
PNrC00006709
N1H01
Secretary'a Co p t
INTERNATIONAL SMELTING AND REFINING COMPANY
11:00 A.M.
DIRECTORS' MEETING - AUGUST 27, 19^6
PROGRAM
D IREC T 0R S
Cornelius F. Kelley W. H. Hoover Frederick Lai at
J Robert E. Dwyer
Clyde E. Weed Jamsa R. Hobblns E. 0. Sowerwtne
Due to lack of quorum the meeting of July 23 1946 was adjourned.
Minutes of the meeting held June 25, 1946 to be read and approved*.
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Presentation of Statements of Net Income and Net Current Assets as of July 31, 19W.
Approval of Appropriations:
No. Description
Amount
163 Purchase of two General Motor trucks for the Tooele Plant. $ 3,816.84
I4.78 To complete installation of the No. lip electro sheet drum
and building and assembling No. 15 and 16 drums at Raritan
Copper Works.
28,695.00
Resolution
Paying the action of the Officers of the Company in
executing deed aevering vBirsale of approximately .03 acre in Tooele City, Utah,
to Dr. J. L. Mayo in consideration of the sum of $100.00
Adjournment
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INTERNATIONAL SMELTING AND BSEINING COMPANT MEMOBANDUM FOB DIBSCTOBS' MEETING - AOGITST 27, 19*6
ESTIMATED SET INCOME
Smelting Department Baritan Copper Work* Lead Refining Department Zinc Oxide Department White Lead Department Accrued Interest on Advances
to Leaees Sold Miscellaneous Income
Deduct: Lose on Sale of Claim*: Talker Mining Company Administrative Expenses Capital Stock Tax Miscellaneous Taxes Interest-Anaconda Copper Mining Company
Less - Depreciation and obsolescence
Federal Inco Taxea
let Income
Add - Set InooB* of Subeidiary Companies
CONSOLIDATED SETT INCOME
Month of July 1946
11,402 282,976 5,000 42,869 5,228
300
J24.971
Month of June 1946
$107,823 110,795 6,018 344 1,347
497
$223,442
Seren Moa. ended July
31. 1946
$160,110 343,242 34,253 10,386 53,174
10,299
$611,464
Seren Moa. ended. July
3.1, 1945
$ 135,404 847,498 42,725 86,089 21,188
18,500 18,296
$ 856,516
$9,000
$10,364
$ 9.000
$315,971 JLfJl
$260,448 101,500
$158,948 -
$158.948
$ 10,364 $213,078
53.688 $159,390
62,500 $ 96,890
-
$ 96,890
$69,857 6,676
$ 76,533 $534,931
290,088 $244,843
111,300 $133,543
585 SI34.128
$ 44,628 74,318 2,917 5,963 56,501
$184,327
$672,189 346,301
$325,888
78,080
$247,808
163
$247,971
CONSOLIDATED SDEPLUS ACCOONT BALANCE - January 1. 1946 ADD - Set Income Seven Months ended July 31, 1946 BALANCE - July 31. 194-6
$870,460 134,128
$1,004,-588
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N11101-03
HITiBHATIOTAL SltBI/TIHG ASX) HEglHIHO COMPACT
ItEtfOBJJPUK FOB DIBECTOBS' MEEIIifG - AOGtJST 27, 19*6
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SSTIltAIED BET CTCOMB. - SjtBLTIgO DEPAHTMTOT
Tooele Lead Plant Tooele Copper Plant Tooele Sulphide Concentrator Tooele Sla# Plaint Miami Plant
Deduct *. Tramway Expenae Outside Exploration Selling Coramiaeion Oxide Concentrator
Less: Depreciation
SETT IffCOME
Month of July 19*6
$ 1,0*9-
8,563
25,310
11,704
a.re> 6 S',282
Month of Juno 19*6
$58,708 2,500
50,57* 28,895
$110,927
SOTcn Hot, ended July
31. 19*6
$ 71,138
19,*59 187,038
1*2,775
235,221 $182,189
Seven Hoe* ended July
31, 1^+5
$225,5*6
135,625 17.073
166,501
82,930
$ 58,669
$ 120 900
1,600 500
* 3.120 $11,402
18,340
$29,7*3
$ 118 922
1,55* 510
$ 3,10* $107,823
-V.JV
$ 88.528
$ 838 5.0*5
12,600 3,596
$ 22,079 $160,110
13*.+2+
$ 25.686
$ 952 16,562 15,132 *,089
$ 36,735 $135,*C*
112,627
$2*5,031
3Bsi!Ba*niwfflP9UTOaamMuiU!sMawMiiirtMa*Hatauansd2UjJwa^
{ UTffltMlTIOlAl. SMUTIKC AFP RjglffTlG COMPUT PMOgAlPCM FOB DXMCT0H3 CgTOTC - A.OOTST 27. 1946 il BTIMAtED IS? IJCQMB - BJl BITJJ? COFF KB TQHSS
Profit ea Befining
'
Profit on Sal**
Electro Sheet D*par tmant
Kiscell*jaOTu Incon 8
L*t - Ganaral Krp U Selling Sxp* iss
Buying Expen its
Strike Expen >e
Lee* - Depreciation
i
.
Month of July 1946
Month of
Jon*
1944
278,397 601
*.391 800
$284,189
$ 1,000 176
37
$ 1,213 $282,976
J9-tP $252.500
4106,448 6,198 3*1 6.963
$119,950
$* 5*5
8.610 $ 9,155 $110,795
28.88*
$ 81-911
SOTen Mo*. ended July
31. 19*6
seren Mo*. ndd July
31. 1945
$533,*59 25,7*7 7.779 12.511
$579.*96
$777,955 78,053 4,825 11.053
$862,236
$ 2,000 2,11* -
232,140 $236,254 $343,242
107.539 $235.703
$ 2,000 6,804 5,934
$ 1*,738 $847,498
195,24* $652,25*
N1110105
PNYCOC006715
nregarmom. s mbl t ih o <u t d HErnrnc c o k pu t t oaBunsai ?oa d ib bc t c b s ' mb r iio -it c o c t 21, 1946 BSTOUTKO m ntCOKS - LEAD HEPIIIHO, ZIKC OXIDE AKD WHITE LEAD DEPABTlCgrrS
LEAD HCTHOIG DgPlBTKBT Operating Incoae Depreciation
zac o x id e DKPAKnear
Sales ef Zinc Oxide Slab Zinc
Cost of Salsa-Zinc Oxide Slab Zinc
Operating Profit: Zinc Oxide Lees: Depreciation
k s t nrccatE
zac OXIDE
Ponnds Sold Sales Price Cost of Sales
SLAB ZIKC Pounds Sold Sales Price Cost of Sales
WHITE LEAD DSPABTHEHT Sales of Lead Products Cost of Sales
Depreciation
KEF aCOUE
Pounds of Lead Products Sold Sales Price Coat of Sales
Konth ef July 1946
* 5.000 2.400
* i.ioo
*138,705 , 5,700
*144.605
* 55,836 5.500
*TS05T
Xenth ef Jun* 1946
Seren Kes.
ended July
31. 1546
Seren lies ended JUS'
31, 1945
* 6,018 2.489
Q&T
* 34,253 19.671
GE2E
* 42.725 18,225
*108,126
*876,534
24,398
141.452
STT&K sren.'w
*889,187 154,210
*108,470
24.398 *132.868
* 866,148 141.452
*rrc*7,6m
* 803,098 154,210
* 42,86?
1,255
* 41,574
* 344 * 10,386 * 86,08?
908
9,177
10,951
* 1.252 * 1.20? * 75.158
1.849,750
7-50* 5-18*
1,538,250 7.03* 7.05*
11,950,750 7.33# 7.32*
10,366,560 8.58*
7.77*
65,566 9.00*
9.00*
264,670 9.22* 9.22*
1.659,928 8.52* 8.52*
1,812,176
8.51* 8.51*
110,940 105.712
* 5.228 3.012
t 2.216
1,301,366 8.52* 8.12*
85,375 86,722-
$ 1,347 2.112
s 3.459
992,585 8.60* 8.73#
786,398 733,224
$ 53,174 19,277
* 33.897
9,001,366 8.74* 8.159
398,134 419,322
$ 21,l5c
9.25*
$ 50,442
4,422,486 9.00* 9.50*
PNYC0CCG6716
N11101.06
IHTERHAT IQHAi. S1EITIHG & REFISIHO COM?AST ICEMoatTOUM FCE DIRECTORS' MgSTIIO - APCOST 27, 1946
CPBREST ASSETS: Supplies Metals: In Process Finished: Lead Copper
Silrer Gold By-Products
IBS' CDBEBBT AMD OTHBi ASSETS - JOLT 31. 1946
1},084,061
IDs. C 5.246*
1?.799.155
lbs. C 9.358*
3,268,687
oss* 0 53-5K
21.293.37 oss. o $34.30
$ 686,428 1,852.881 1,748,942
730,259 26.272
$I,W4,7B2
Reserre for Freight and Refining Charges
563,163
Manufactured Products: lead Products Mine. Oxide Mixed Metals Raritan Copper Works-Electro Sheet Department
$ 57,192 l^^S 36,174 3,190
Accounts Eeceirable: Tolls Others
Cash
$1,272,667 476,705
$ 970,470 2,587,482
4,481,619
289,201 1,749,372
550,635 $10,628,779
COBRm LIABILITIES: Inter-Company: Anaconda Sales Company Taxes Accounts Payable Vages Payable
RET CtJRBEUT ASSETS
$1,178,934 250,201
1,685,160
209,395
3,323,690 $ 7.305,089
OTHER ASSgTS: Installment house and land sales and other accounts reeeirable, less reserre
BA1AJCK - HET CPBBEHT AMD OTHER ASSETS
______ 6,963 8 7.512.032
PNYC0C006717 N11101.07
IHTEBHmOSAJ, SMELTIHG <t BEFCTmG. COliPAffT HgMORABDOM FOE DIRECTORS' KEETIHG - AUCPST 27, 1946
SAiaS, DSIIVEEIES AHD PRODOCTIOIT - AT.T. PEP
Sim/TEH PRODOCTIOH: Coppor - Lba, - Tooola: Cuatora Tall Klftial: Custom Tall
Lead - Lbs. Too#It
Month of July 1546
SOTon Itoo. andod July
31, 1946
SOTon Hot. ended. July
31, 1945
49,628 581,398
251,968 13,064.627
4,992,851
726,575 3,463,871
1,802,424 73,087,842
7080.315
35,296,446
5,259.373 5,819,975
1,976,400 83,112.185
161:167:957
21,837.370
SCRAP COPPER RECEIVED AT PERTH JUCBOT Custom Fa.brlca.tlan Toll
85,375 1,644,407 1.^29.782
615.870 5,260,306 5,816.176
773,064 9.244.557 IOT7'621
REF IHHiY PRODUCTICH Coppor - Croat Lata - Toll Scrap
Load - Lba. Sllrar - Oi*. Gold - Oi*.
57,208,779 1,644,407
fi.iUMi
1.236,533 566,249 3,446
177.722,289 239,235,002
5.260.306
9.244,557
177^461!$85 777.770.f447
33.509,510 2.547,467 15,136
40,626,181 5,361,574 +5.298
SALES: Copper - Lbs. Tooslo Miami Raritan
Load * Lbs
..
"
342,842 104,462
600 447.904
4,300,000 1,900,000
305.477
~f.535.477
4,446,092 41,780,027 33.840,021
DELIVERIES:
Csppsr - Lbs.
Tosslo Kiual Raritan
Load - Lbs.
27.573
ii.m
1,924,603
431,608 494,424
55.315
781:547
4,792,035 1,376,400
305,477
--7.073I9I2
33,121,571 27,645.581
ZIHC OXIDE: Production Lbo. DoliTtrloo - Lbo.
353.800 1.849.750
10,042,800 11,385,970 11,550,750 10,366,560
SLAB ZIMC Production - Lba. Dellrorloa - Lba.
383.200 65.566
945,000 1,404,494 1.659.928 - 1,812,176.
Par Cant Increase Decrsiis
17.8 61.6
+1.3
25.0
2.7
56.2 66.6
55.1
4.9
66.1
19.8
n.6
15.3
32.7 8.4
PYCo 006 7l8
^11101.08
^MELTING AND REFINING COMPANY
roadway, New York 4. N Y.
Aogu*t 27, XSki,
ft Ma T. Dajw,
Logoi Doportaosi, Anoooado Coppor liaise Co., tmtammaj mimug,
MU, Montana.
0*v list Attoabod la a mm of tht km #f
DU^otoaa Hootiaf hall oa Aagaat 27, 1$4*, fci* a oAJoumad tm to look of j--ri.
Iw m iwy trm.ly. (S) V. H. ORAHL Assistant immrmtmrj.
PI,rioo<, n,
N11101.09
I
A regular mating of tha Board of Diraotora of tha
IKT-'HHATIOv a :. SJELTIKO AKD RKFIJtlSO CO*PAST vaa hald at tha
offlaa of tha Company, Bo* 2J Broadway, Bav York, B.T,, on
Tuaaday, Auguat 27, 1946, at 11 o'alook A. H.
PRSSERft Kaaara. Pradarlok Laiat
Robart S. Dvyar B. 0. Sowarwlna
ABSXXTt
Comallua K. Kallay V. H. Boovar Clyda B. Waad
Jaaaa H. Hobbina
Thara bain* no quorum praaant, tha aaatlag aaa adjournad.
(3) W, H. QRAHL Aaaiatant Saoratary.
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N11101.1