Document mBX530GnVNBV9M1ovkM475jv0
N11100
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INTERNATIONAL SMELTING AND REFINING COMPANY
. DIRECTORS' MEETING - SEPTEMBER 24. 19k6
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Secretary's Con-
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DIRECTORS
Cornelius F. Kelleyr''^/ Robert E. Dwyer
W. H. Hoover y /
Clyde E. Weed
Frederick Laist'
James R. Hobbiinns J
E. 0. Sowerwine.X
Due to lack of quorum the meetings of July 23 and August 27, lSk were adjourned. Minutes of the meeting held June 25< 1946 to be read and approved,
Presentation of Statements of Net Income and Net Current Asse^^as of Aug.31,1914.6
Approval of Appropriations:
No. Description
Amount
I63 Purchase of two General Kotor trucks for the Tooele Plant'
.'3,816.84
4?8
To c omplete installation of No. llj. electro sheet drum and buiid*^'r'>-. C"
ing and assembling No. 15 and 16 drums at Raritan Copper Works. 28^695.0C
Resolution to be adopted ratifying the action of the Officers of the Company in
executing the following deeds covering the sale of land In Tooele City, Utah,
as follows:
In consideration
To
Description
of the sum of
J. L. Kayo
.03 aores, as described in deed .
$100.00
Kelsey Subdivision
250.00
Kelsey Subdivision
250.00
The Board is asked to adopt a resolution approving the action of..the Officers In executing Contracts, dated Hay 15, 1946, between International Smelting and Refining Company, Fark-Konold Mines Corporation, and Park-Nelaon"MinIng Company. These Contracts evidence the collets withdrawal of International from the opera tions of these Companies and the release of both parties from liability on account of International's actions to the date of the contracts. \/
Adjournment
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INTERNATIOKAL SMELTING AND REFINING COMPANY
DIRECTORS' MEETING - SEPTEMBER 24., 1946
PROGRAM
DIRECTORS
Cornelius P alley W. H. HoovIeHr^V / Frederick LalsV Robert E. Dwyer Clyde E. Weed James R. Hobbina E. 0. Sowerwlne
11:00 A.M.
Due to lack of quorum the meetings of July 23, 1946 and Ai were adjourned.
t 27, 1946
Minutes of the meeting held Juno2 5 1946 to be read and approved.
Presentation of Statements of Net Income and Ret Current Assets as of;%ig.31,19-
.........
...... - -
- X________
Approval of Appropriations:
No. Description
Amount
163 Purchase of two General Motor trucks for the Tooele Plant
# 3,816.84
478
To complete installation of the No. 14 electro sheet drum and
building and assembling No. 15 and 16 drums at Raritan Copper
Works.
..
28,695.00
Resolution tin executings Utah, as foQi
To
J. L. Mayo
idfying the aetion of the Officers of the Company eds covering the sale of land in Tooele City,
Description 03 acres, as described in deed
In consideration o the sum of
$ 100.00
Joe Cerronl * Wife
Lot 12, Blook 2, Kelsey SubdiviWion
25O.OO
Ralph J. Nelson Sc Wife * 4, - *
2, Kelsey Subdivision
250.OO
Resolution to be adopted ratifying the action of the Officers of the Company in executing Contracts with the Park-Konold Mines Corporation and with the ParkNelson Mining Company, whioh Contracts evidence complete withdrawal of Inter
national Smelting and Refining Company from these operations.
Adjournment.
PBICOCO061''
N11100.02
iirmriTioiiL atmiss a s p ipaas q o mpa s t
MMOBiiraat f o b d ib b c t o b s ' ms s t ib o - s s p t b k bs b ? , 1946 e s t imat e d sro ib c o mb
So* 1 ting Department
Baritan Copper Work* Lead Hafining Department Sine Ozlda Department lhlte Laid sapartaant locrued Intereat on AdTaneea
to haaaaa sold Miacellaaeoue Ineoaa
Deduct, lioss on Sala of Clalma, Salker Mining Company idminljtratlTa Hxpanaao Capital stock Tax Mieeellaneoue Taxes Interest-Anaconda copper Mining Company
L** - l>prciation tad obsolssesnc*
Federal Ineoaa Taxea
Sat Ineoaa
Add - Sat Inoome of Subsidiary Companlaa
Month of August
1946 9 14,569
224,385 13,918 19,221
400 $243,355
Month of July
1946 $ 11.95
199,972 15.484 42,869 5,228
862 $252,465
Sight Moa. ended Aug.
31. 1946 $ 155.104
482,587 44,737 25.405 76.915
10,699 $755,447
Sight Mot. ended Aug.
31. 1945
$ 159.367 906.357 45,976 100,229 29,240 18,500 18,296
$904,751
$ 10-,000
9 10,000 $233,355
shm
$180,131 70,900
$109,231
a.
$109,231
$-
10,315 402
$ 10,717 $241,748
34,424 $187,324
73,700 $113,624
$113.624
$-
81,172 7,079
$ 88,251 $707,196 341,310 $365,886 159,800 $206,086
585 $206,671
$ 44,628 82,797 6,667 8,548 56.501
$199,141 $705,610 353,.336 $312,252 108,653' $203,555
163 $203,762
COSSOLIDATXD SOHP103 ACCOOHT BALASCS - January 1. 1946 ADD - Kt Incoas Might Months ended August 31,, 1946 BALAHC2 - August 31. 1946
$870,460 206,671 $1,077,131
* - incLudae 1939 Federal Ineoaa Taxae
PNYCCCCG6701
N11100.03
ISTECTATIOUAL 3KSLTIHS AHD RglHIBG COMPANY MBtORAHPCJM FOR DIRECTORS' MBZTIgS - SgPTBfBER 24, 194-6
ESTIMATED HET INCOME - SltKLTISO DKPABTM3KT
Tooele Lead plant Tooele Copper plant Tooele Sulphide Concentrator Tooele Slag Plant Miami Plant
Deduct: Tramway Expense Outside Exploration Selling Commission Oxide Concentrator
less: Depreciation NET INCOME
Month of August 19*6
$ 2,691 5:025
1,509
15.-853
27,750
$10.2*9
Month of July 19*6
$ 1,0*9 8,565
25;8*0
11,70* 51,500
$ 9,752
Eight Mos, ended Aug,
31, 19*6 $ 68,4*7
35=130
136,873
I56t653 265,971
$131,137
Might Mos. ended Aug, 51, 19*5 $165,6*9
226,986 17,180 ,
185,158
69,789
$120,508
150 900 2,700 590 $ *,320 $ 14.569 19,112
$ 75,681
150 956 558
____ S2 $ 2,198
$11,950 19,12*
$51,07*
57 7 5,981 14,805 ' *,270 $ 26.033 $155,10* IfW S
1,060 16,*03 16,367 4.629 $ 38,859 $155,367 129,718
$ 1,686
$285,085
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mroirATioiii aoaanrs u t d HPiuigo o o mp u t MMORimat FOB DIBKCT0B3' KPTUS - SE>?Pn>TP 24,
13TIM1T1D IK IIOQMB - BAHITiJ COPPB TOBS3
Profit on Hefining Profit on Salts Kloetro Slxt*t Dapartaant UiootHantou* Inooc&t
Leee-General Expense Soiling Expenses Buying Expenses Strike Expense
Loo* - Depreciation
Mol1on?tg1ho6ostf
$210,358 7,331 1,62? 1,000
$225,321 $-
?36
" $ ?36 $221,385 JklSSl $1?2,6?0
MoJln?utihl6yof
$1?2,387 162
,3?2 3,?6l $201,202 $ 1,000 176 -
__ a $ 1.230 $1??.?72
30.176 $167.136
lei3ngd1he.dt1Ml7o1og6o,.l ltni3gd1ha.dt1Kd7u1og5i,,
$657,807 33,260 12,055 16,672
$717,771 $ 2,000
3,050 .
232.157 $237,207 $182,587 137,233 $313.351
$831,816 82,378 5.213
11,460
$723,161 $ 2,000
7,507 7,577 $ 17.101 $706,357 220,388 $685.367
oo06 N11100.05
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ISTBulATIOBAL SMKLTIHG DTP RBriHIHS COHPAHY
MBOBAHPOli FOE DIBECTQ33 ' MSZTISC - SHPTBtBKB 24, 1946
es t imat ed s et aeon - urn h p iims . rac o x id e un> ih it e
ng>nwm<.
LEAD BEFIHIHC DKPARUnOW Operating Incoma Depreciation I*t inooas
ZIHC 0XIDB DEPAHnOBT 3aies of zinc Oxide Slab zinc
Coft of Sales - zinc Oxide Slab Zinc
Operating profit: Zinc Oxide Leas: Depreciation
ir nrcoMB
ZIHC 0XID5 Pounds Sold Sales Prioe Cost of Sales
SUB ZIHC Pounds sold Salts pries Coat of Salsa
w h it e l ead d k pak t k h it
Salta of Ltad Products Coat of Salts
Depreciation
HST IHCOMB
Pounds of Lead products Sold Sales Price Cent of Sales
Month of August 154-6
Month of July 15+6
light xos. ended Aug.
31, 15+6
Eigit Mss. ended Aug.
31, 19+5
$ -' *-
$ 15,+8+ fT^67
$ ++.737 17.7*8
* S6,}+5
$ +9,976
+ 20,636 29,340
$ 59.039
<r1r8f.&8056
$ +5.121 18,806
6 63.527
$138,705 5,500
$iU.605
$ 55,836
tv-.sJrr.r'sOOs.
$ 535.308 160,507
$1,056,215
$ 505,503 160.507
tl.o7o.8lo
$ 1.03+.723 156,765
$ i7in,4^8
$ 93+.+9+ 156,765
t 1,091,259
$ 13.518
521
$ 13.381
$ +2.865 1.255
$ +1.57+
$ 25.+05 5,71+
$ 15.651
$ 100,22? 12,253
$ 188.076
767.BOO
7,65? 5.86?
1.845.750 7.50? 5.18?
12,718,350'
7.35? 7.1+?
12,079,750 8.56? 7.77?
220,558 8.51? 8.51?
65.566 5.00?
5.00?
1,880,526 8.55? 8.55?
1.842,726 8.50? 8,50?
$ 81.672
IV?1 $ 15.221
1.880
i 17., 34-1
500,626 5.07? 6.53?
$110,540 105.712
$ 5.228
3,012
$ 2,216
1,301.366 8.52? 8.12?
$ 868.070 791,155
$ 76.915
21,157
* 55.758
9.901,592 8.76? 7.99?
$ 442,991
472,231
$ 29,240
10,363
$ _39,603
4,943,452 8.96? 5.60?
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N11100.06
DtTBRMATIOgAI. SKBtTIBO * HEFIKOTS COUPAKY KBPBAHIKM FOR DI8B0TOBS1 lffigmo - SPTBBKa 24, 19*6
rai amazsT *ro omm as s et s - ac t h j s t 31, 1946
CUBBEST ASSETS Supplies Metals 1
In process Pinishedi
Lead. Copper Silver Gold
By-Products
14,737,068
20,172.10?
2,493,11$
lbs. o 6.*516* lbs. 9.396* OM. 44.62*
20,894.17 oie. $34.32
Heaerve for Treight and Heflnlng Chargea
Manufactured Productsj Zinc Oxide Haritan Copper *orks-Slectro Sheet Department
Account0 BaoalTablei Tolls Others
Cash
COTWWT LIABILITIESl Inter-company1 Anaconda 3ales Company Taxes Acocunts payable Vages payable
BET COBHBST ASSES
OTHEg ASSETS Installment house and lend sales and other accounts receivable, lsss reserve
BALABCS - JET CUHRSST ASD OTHER A3SETS-
$ 950,770 1.897,278
1,112,522
717,034 21.066
$*,Tfs;ST6'
476,217
$ 958,096 2,491,059
4,222,453
$ 129,874 2.183
132,057
$1,456,936 . 348,818
2.005,754 494,267
$10,303,686
$ 547.50? 321.679
1.868,93? 124,014
2,862.1*1 $ 7,441,5*5
____
$ 7,4*8,12*
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N11100.07
DTTEramom s k e l t iit g * h k p ih ih c o u p a b t MBPamWlI FOB DIHSCT0R3 MBSTIBG - 3Bnan>BB 4. 1946 .
SAU3, MB.ITOH8 m> PBODUCTIOE-AIL PPABMBTPS
aOELCTB PBOBJCTIOIi Copper - Lbs. - TOO#Itj Ditto* Toll Hitoll Catto* Toll
Load - Lbt. Tooele
SCBAP COPPKB BICBI7TO IT PEBTH UCBOT Ditto* Fabrication Toll
HPHTOT PBODOCTICH Copper - 3roil Last - Toll scrap
Ltal - Lit. Sllrtr - Ott. Gold - Ott.
aiUBi
Copptr - Lbs. Tootle
Klaol
Baritan
Lead - Lbt.
mitmiBSi
Copper - Lbt. Tootle Vital Baritan
Lead Lbe.
MC OIIDBi Production - Lbs. Deliveries - Lbs.
SLAB ZIIC production - Lbt. Oelirtrlet - Lbt.
Vonth of
August 1946
M-gfct Hot. ended Aug,
31, 1346
tight Hot. ended Aug.
31, 1945
Par Cent Increase
62,222 250,608
271.68A 11,803,217 T2I3H7.731
4.703,501
788.864 3.814,477
5.345,279 6.444,058
2,074,108
2.195.662
84,831.053 71.568.510
X7515.338S0..357K7
40.200,347 25.122.759
4^57,653 1.737.653
615,870
928,136
-M8 10.417.049 ' lT,S45!lB5
53.084,863 J1r.i7a7r7..6a5s3
674,234 4.768
230,807,158
7.057.753 423.743.169
257.567,737
10,417.049 449.150.688
39.509,510 3.021,761 19,904
46,033,607 6.265.744
52.525
13.1 60.0
32.4
10.2 14.2 51.8 62.1
-
a
5.542.367
342,842 104,462
600 447,964
47,322,394
4.892.000 2.125.000 TT30f6c.j6l7if7l
45,630,340
93.9 3.7
5.522.547
767,600
220,378
431,608 494,424
Jm,5t'&31r!
38,643,918
4,788,545 2.175.662
306,677 7.290.684
31.648,078
10,042,800 12,718,350
12.383.370 12.077,750
945,000
1,463.094
1,880,926 ' 1,842,726
86.5 22.1
18.9 5.3
35.4 2.1
^11100.08
?
DEEDS
J. L. Mayo
..
Joe Cerroni 4 Wife
Ralph J. Nelson & Wife
(See file "DEEDS - POLDER NO. 5)
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PN^00006707
N11100.09
There was presented to the meeting Contracts between International Smelting and Defining Company^afl^ Park-Kopold Mines Corporation^and Parle Kelson Mining Siifiulisu Company, evidencing the complete withdrawal of International Smelting and Refining
Company from the operations of these Companies and the release of both parties from liability on account of International Smelting and Refining Company's actions to the date of the contracts.
On motion duly made, seconded and unanimously adopted, it was: RESOLVED, that the action of the Officers lx of this
Company in executing Contracts, dated May 15, 1945, between International Smelting and Refining Company^-Parlc-Conold Mines Corporation^and Park Kelson Mining Company, be Mnd it hereby ia in all reapacts, ratified, approved and confirmed.
(all correspondence in Contract Pile PARK-KONOLD MINES CORP. AND PARK-NELSON MINING CO.)
*y,coQ 06 N11100.1