Document ydbwwQE5RKzwKbq6rNVrO0QD

RECtiv l-b x,. DEC 18 1981 * STATISTICAL OtPT- ; ____ NfcV* vg7.>.--- ' ***** Hr. W. C. Honey MTKfiKATlLMAl SLELTBK* AMD HEPIK1H3 Ca.PAl-flf TOQKLE PLANT - TtlGB.r., UTAH :2EFu.f CtJ AUDIT OP THB SULPHIDE CC.HCEJTHATOH , Tt*S LEAD FI.A1JT AuD Titli SLA.I iuLHi-.-i 11...1.T OF THE IKTERHATIOHAI. SLU.TING AilD HEPDflDG CaiPAHY. T(/QELE. UT/.H. Fut ..UdUdl- 1^51 C. E. Bowen 110UTH CP AUGUST 1951 mi REQUIRED FOB AUDIT September 17# to Kovunber 28, 1953, inclusive Audit ot the Metallurgical records of the Tooele Plant of the International. y for August 1951 Included the three operating plants, es follows; aj.n .i .fining Approximately 61.&C, 17^ end 65% of the purchased receipts of the Careentrotor, Lead Plant tud Ulcg Jig Plant, respectively, were audited in detail for weights, aseaye, unloadings, contracts, sottlouenU 'its. In addition, 353S and 25% of purchased receipts of ths Concentrator and the Lead Plant, r.di-ctively, edited for Tooele weights end unloadings* This covered seven fully audited shippers and four tust.-d xn. Detail on some receipts and new contracts appears in the report. . All of ths outoide shipments end Interplant movements were audltui in detail a- \.~ro ,,,o..t uf ti.u 4*nt mcvemsnts at the Sulphide Concentrator and the Lead Plant. All shipments fruui tl.u Llag Treating imre audited except two oars of Deleaded Zinc Puma shipped to the Groat Palls I'lant of the ..i.uconda Awning Company. Final and praliBinary data aa included in the august ateteuunUwor in all cases. Inventory observations were made on September 1st and 27th, October 1st and liovar.bcr 1st, as detailed mudlt. All four observations were checked to the books to determine practices and accuracy. All jper 1st inventories were audited in detail fraa the physical and activated inventory reports on into the Alta. Valuations of all Inventories were alee audited in full including purchase costs, fi*.d operating (find worked bee*' inventory. A complete review of the lead plant metal valuation vac tJ.dc ud a discussion Is presented herein. August work sheets and stataments as well as August 31, 1951 cumulative statements wer audited uiii.g as mentioned stove and assuming all July 31* 1951 inventories to be correct* . C, 15 .loun l.eUllurgi cal ..uai tor Uovu..ber 3d, 2953 PNYC 00011844 J*?s DrnTiUIAfIONAL ShUTIto-. /uip .tSfl..! TCQE3.S H.AI.T - HOSTS. Jj mo n t h c? ;ua.;;Y igsi ; c unc bj t r at o r : j* Receipt* I^Shipaente j Inventories j? Valuation of Inventories > PLANT: IfioMiptS . trShlpsants ntSseellaneous Intarplant Transfer* |2tovnterie* Valuation of Inventories \ PLANT: ripta ilpMnta !?Inventories ^Valuation of Inventcrie* i AND DISCREPANCIES: Sulphide Concentrator {Load Plant jJ Slag Treating Plant . General , ccm-iarrs: . | Lead Plant Cottrail Fire iCoppar Plant Write Off {Date of Receipts iidjuetaents to arrive at Bonsai Recoveries ^Excess Metal Hecover7 from Furnace Bottoms ION 2 3 3 4 to >, i-.y.uii-.c 5 :* L u, ?, J'l.l'iji/c 7 to 5 ir.clu-tva 9 to 13 i iitluaiva 13 i3 13 to 3i;> i. .ciivU 1.-. 15 15 15 1:> 15 to lu, iilviUwiVb lo Vo to 17. it.;.lu.-uvu 17 1? to It* li.ci ...liv . i*: r f PNYC 00011845 *ir-- '%Oui.<f - VT' :****,\ * iNTUttimcflAL aaLTOM ah o .csnDi.i vi.h.y yooig.g pt.AK'^ - t c o h .e , r.T.,11 KCHTH OF AUGUST 1951 SULPHIDE CCWCECTRATOn LCflMPltitltf SfltiMnl ..-. j Bis This ort accounted for over 49# of the Concentrator receipts in nu.rust 1951* Thu contract has frulned essentially tha s u m * detailed In tho 1948 audit* The treatment cost has risen to vl*49 j'psr dry ten and the sampling crodit hat beem lnertated to 50* per dry ton, This ore is all campled, a weighed and assayed by tho Utah Ore Stapling Company and the Internationtl Company accepts and uses [these Might* and moistures hut averages tho assays with thair oun and calls for umpires \iuu\ needed. All August tino contents were totaled and averaged and the shipper was paid for the iMlancc of as in two lots which bad been given the 60 pound uinlauu deduction hscai.s^ of low contm.t zir.e. pThie is allowed in the contract it the monthly average asa&y Is largo uiou"h to rocoiva t). 65..I pey- f. mant. 19*735 pounds were peid for at 9*438* per pound, also* tho difference the vuly eaaip- f.'ling credit total (50* per dry ton) and half the July sampling charge (*1*00 p*x- w~t ten) w*:> paid to * i shipper as allowed in the contract* I. tlfl, r.Off Ibis leadline ere from Ketchum* Idaho* received In August 1951 amounted to 5 lots or 4.7> cC ctbe August receipts. The contreot of September 15* 1948 states ti.* usual m-tul p.rcuiitagcs a,J prices [jbot the duplicate copy has not yet been signed and returned,as is the cue tun. The 1951 tr^at- i eoet wee 2*921 per dry ten and copper is not paid for. Ho agreement could l o located for th*. t>.~ ilty peid cn each lot to J, B Eldridge*. owner, of the property. These tailing* are from Park City* Utah* and accounted for 6,5.' of tha August 1951 receipts. Ho jfwrltten contract was available but the terns of the lest two lots were listed by hr u. hurt, (W rBoyer* on one of the lot sheets* as follows: Gold - 100,* 16*00 per ounce* if *01 ounce per ton or ov,r,, Silver - 80# market orer 1 ounce per ten. . Lead - IOC# 1*50 per unit over 1*5 units. Copper - 100# 1*50 per unit Zinc 100# 11*75 per unit after deducting oxide zinc and ,7 unit. Treatment - 14*00 per dry ton* Hauling - $1*00 per met ton to shippers. Splitting Limit* - Au. - *01 os. per ton* Ag. - .3 oz. per ton, Pb. - .3#, Cu. .2#, Zn. - .5#. Payment - Half to Silver Zing Coalition Lines. These terms were higher than those on the first three august lots beosutw of l o upswing in yi-wu. {during the month. Neither formal contract was available. LSpJ-ining_Cffnpanr - 3liver,Iron Concentrates These concentrates accounted for 34*5# of the Concentrator receipt!, for August 1951. `iW.le tMigbts* moistures and essays are used cn the settlements. These were checked in det.il tut Lhc jwtfU- aments themselves were not proven because they are die eked yearly in Anaconda, during thv Zinc Conr.unt ratur Audit. PNYC 000118454 .. . f ^4/^/<y, iilii 1>. *!.>.; .;... f:c..:'. 1951# five cars, 293 vst tuna of l^ad conc^itrstes, ware- received u;;d tru-uj ,,i t. maf ..All Concentrator production it ceni.jde.ied sldppad, used as Load IJtnt ..ec*apt. ,,..d i. Utfeoarries all inventories. VhuSc. aLijuawnti* uv aJjuotsd iH-uthiy to arriv- at Cv.. [recoveries. August ohijaaw.ts vurs r~L.t.d by 13,000 pwiudu of 1 eid, 1 - i.-. . _ ; " icsa of gold, i^acli car Jj iu-t. J so thja *eJiicti m j. .n'-.! ti.- ^j .., ...u.iw and helped to raise the lo-d Hunt recoveries at tne ueue time sin<j c a. 3 oi received at the Lead flant iu August. These ed/ustiuats ar. j.Aie al i>Cw.... *r V, ..t 11 Beaded. .# ef payments and credits, sindlar to the Lead riant open contract is itratea for transfer. The schedule, including latest c.wigeu in frwij.t f..r v u j u i_i,, . - l ass 1.5 units, balance 95/ 6 b. *. pi ico,. 2 *>'.. . t.. ... - (l.in. doductiv.l 10 ]i.s*)90/ 4 l.,, price, loss 3.5b./. : - > - If 5/ 80/ >i 22r of jinst 0l . i.uxio |i'Si;v, If 1 ounce 97a/ * Lint Ivice - If .02 ounce 91/ * *35^0 pr ounce - Credit - bf p-r - Charge - 10*par unit 2C five - balance .'Pi* p,,r unit - i axinaufl w-2.25 Iv/u - Charge - 15> per. ui.it paid for. - 35.215 pel* dr,/ tun plus or uirm* per unit of leud over ur under 40./. (after deducting 1.5 units) - ; 9.35 - 15? for ...ib - ;H,3u 7~ 15; for ::I. - eban/e d:-r.e Concentrator production is also ust.t t dwtr^-i. . 1 .--3 to normal cuicentrut-or rwcov-ric*. .13 i.,\. iww [f*cnts were 18 cars, 75/ wt tuis. Kt-i ij,... r.. on.: ... 3... The schedule for veluiuj thus. an... c.w. ..tr.. n fell - 50/ at ... f. ).ri. - /,.0c-5;. - Deduct 20 pw..i<3.., . . . tl. n, .. price ius - J.O ps- .v-.it. ' - If u.inue, 95.- *n. : ip.ICe* - If .02 vn.eu, 93,. - ...* wieo. Iron less insoluble - 5;= p.,, Treatment ;y.5v p . j .-. tw.. i . v-i... j - i ilv- !... te . ! J -Cii.! I i1 . ....., L'bta. Labor base Bullion Freight - / 9 .;>5 - 3 5) for -.if.. :V>> cha., . - Lese. vWcifibts, a8sa/o &i.d Vu3tie u j ` uliijni~..tw Vciv u. .iJiv.l i. u-'.ail fv OOOlt^46 pNVC '#i: * .an?:'. - / `//>Li/--y - , SU.PHTDE Ct.1 CiM.,l,,i..ro,< AH Concentrator bin inventories iter icaesurid on 1, 2 951 v..i viu.wii .....'< -- Kessrs. J. C. Wilson and W. F. lloll# Jr.# Pogson and Felcubi.t ..uJit ><.:. .i-- -.1.., c...: i. and specific weights ere. used comparisons. Pull cars . .d/or 1*1 :> >-.u u U W.. .. . stated tonnagee. Actual weights and assays are used a*, a iird-iu# Jin.t-vi basis. il. ere at average stockpile essays. Zinc concentratoa on hand are wuighed and assayed, lead ar.i l.-cu to.,centra Wo i.v included j,: Lead Plant inventories. The Superintendent prepares a monthly sheet detailing tl... fall leta Vh.ich ro..oj. i.i bins# -owi., . weights and actual weights on any sine concentrates cn lia.*!, Ti Ij :.(>*: . i.i r ..- i-t...: . bin measurements ere only used for checking. On September 27# 1951 the Auditor viewed the ehutdwur, i..1 1U i*.-.t -.i ... *.. : in-process inventories are reported tor this plant because it is uyw.Jly L-tv i.v:w) jv.'j i- > are taken and any aterial cn hand belong to the prior run. Su..* tue - i-.t-riul ;.w v*d iu i h- classifier end cn the floor but neither the Superintenduat nor th. ..ccountii,t; OiTic.. nought it ;. .. large enough to affect recoveries of the prior run and put it into i.>v*nturiu$. pLTTt i: OF r.lVEHTOaiES . U and Bine As explained in th previoua audit# those ore iiivw.tc.iwj **.. w a c.w .-uis ... -/ k . silver and .gold. `Each lot, cu a first-in# first-out basis fu- -,^3^.1, a* 1... u d u. .1, ;. . silver ounces paid for are valued at 34.75# per ounce. Vi.* velal vali;. if .clii p..3'i fu. i- Ho-iwJ $34.91 to arrive et ounces paid for end this total is valn.Jl l I ,34*f) P-*' v>;..u, v.-.w.. i~J. i this is that# even though the terns of the swny contracts difi'.c i.: #~rCo.--.i -. r f-uj-i jiw . >l ell arc based on a v3491 price# approximately, inis is (i.ic. 1 w.* .1 u- Orus end co.icwatiit.es i bins uhici, w-.ru not sc. plvJ .i ... t i a senpling cost of #.46i6 p*r tuu u<icl. is -a uld j'i.;..<t n- !. ---- - n . nut ctriy tliis because th-y ei'w tu b. sampled .. , ; . . .. i. i .. i.. >; rates Zinc Concentrates are dill valued at the contract o.lo.. u s j l .j ... at 34.75# P-r ounca. flu cuifcract states a gold p*ic of Vi.Vc i * tiv'tl. r < .i m . X .J PNYC 00011847 u V* 1 :^**-*> j ' *. 'fcr.y - jUiii i:jlA:;tfi`L U. .. Under 2%\> - 90 .' of li-.t 25 to 503 - 913 01 t/et Over 503 - 92-3 of Uot As^ay Price - Average l..,w fork E .. j. nest preceding; cs:*.lin.;. dst.-, 3 plus or minus *031; jo. j ; ^1.. plus or minus ci...n e i; ; . w. .'*y 1. Deduct 20 pci:,id. i u\ ...... vs.d \i dnesd . 3c;.) jo ]?/, . i.i i. *:i j.iu. ,.U,0 ..u 1 .... . 13 free, e;jCeu; at >>; pur u.Jt 49*00 per dry to,,, i-.t-.r. J,,lc.r....i 3, ,._i - i-iti. International l-ays irui.u.t, >iq u ; , Idshu Shipper pays only frd.d.t to ! r.dlm , lii.J.o Soioiter -- ^33`-A^'/> J.oi-w ..d.l 1/; fi,.` ,:h nefinery - vl.55661 p. r . j .j . d ..,_t 1 ton of paid fo>- load for li. :: third lahor cost a vre- 416.167 hc.5tf pluo 3 5} i-.r --t!. .3 i", w22*95 Lese, VarJaiit r. / r -U.-4 - . deducti on * .. The splitting littite on assays were meatjw.-.ed in & letter d_^w, iV:l 1 r>..., u. f. u. i Manager at bonanza, to i.r. r. L. dacl.etl, -cu_,,rj - Ji.i:... ci ,;,.3 3 .: J .5 -c Iter. Kr. Sackett agreed In his reply of Jui.c 2r>, 1*751 .. A* : The zinc was not paid for and there lh.>. 1.1 " 1..'. i>a* Hebraalta Lead bullion shipped to the .u.ericu.: ) 1)4, . ...i.i .. 1 $ths Tooele Smelter. The silver is rdi , ie jJ,. .. tl.,- .. Impounds per ton of bullion In 20 dc/u ufU* . : -- 5 j,t -,! . `V.9125 per ounce. The contract has ri-d.-,. j ; h. .-.i i i. . 1 \ last half (5 years) of contract pcrioJ ..t, tttaent coat went Into effect adding 5 .. UlW 1 I . 1 the 14th. Also tl.c splitting limit *=. - 1 4. . l letters \*ti.ven hr. Carl Cull, I.ur.vg.v 4./ ;h. > I Tooele Plant.. If silver r,,n owr 100 ....... i The final settlement for June t* r August 1951 shipments. The settloi.v^.t;; &...1 fcseked in Tooele as received. 1 1 . lur,,.. i. l-.AJ J. 3 i lit . .<C ] -1 ! .1 ii: j. . ..I .. 1 August shipments with Guaha ( f h._ 3 ) Total Weight Lead Bismuth Silver Odd Odd Payment Bismuth Cnarge Estimated Treatment Estimated Freight v^.v.-lt .j o : , . -i 7 | .930 u* .. i.ir. I'-i,,.1-nt u 7'J,;,Vv./7 PNYC 00011848 '{i'jd'.K iJtfJh 1'L-J.T ia ?.t 'tmisms m imb iiBit s - Continue > Matte and Spels i(r The Converter* receive and treat U.3s i.at. 'iil i'i i ii 'i Ji. 1-. ...i-iCtfU. . transfer was free the August 1st inventor VI.u i: ti'.'l. J ; I High cadmium content duet Is accumulated for twic* y i t-copper roasters. Hone was s)iipp*>d in ugui*i- 19vl> roi,.i; } Blast Furnaces .. The product of the Sintering ham, js weighed t> ,..-.rj, >,.. stui ... invent o. Uu at i Blest Furnace Dins and the balance us^d as *Lip.,int.; Lc U.c. k-, . U..IO r.o *a. j us hit Furnace Treatment. All inventories are for th* Bi.r. ai..,, tVi.t . m7ft is used. Constant loss percentages are ns.ed a: each .*1 V : .v.' ve ai U..s coirit of the sinter, even though a monthly assa ia tal.vn fv. cu;,,4ii-j .... ' sinter shipped are: id Loss Lead 2* Coup.ir .5; j ; :=. rdl:. .1 iill] thly Assay puted Assay 29,20% 29.0& 2. OfVi 1.95^ thly Weights 4,477,236 lbs. 306,060 ilo. puted Wei gilts 4,1.55,770 lbs. 296,99/, IV to the Bias Treat men! Plant ' It).;.. 9..... ' < *. ' V . . ... oz. .-V/b 02 . 3.E.O,* ; ... ^ . *- ,639.960 oz. K u.. y,~i .:,i ..`.f.? os The molten slag sent to the Slag iVuti. I and manganese at the Bla-t Fumac^j. .. i iit the cold duug> slag, scrap ire.; end (oh., I all materials except slag is tha contfc.il ... = ; i dry weight and other contents of tut ,,u_ -. > the Blag Treating Plant on the follot/j i,u j c . 1 C-io of j..idiiig c...; .i I r io-.i.y, .1 i. ........ Zinc Charge -* Total sint cait^.) tho ill eg iT'vt. i. t.i. j riiO.-.U. p2.<o ti (.hi a. Cv*k)"Ci .. jaunt,:!'. ev..r*.; .j jid i* Treatment of Cold Slag Charge > v7,CO par diy t-. t.... i. .i . I .wi. Pi v500 per ton ; .i ..c i...t i y ; 1951 from i . ;-:..oid irew . -jii-t ,\1, Credit for further Trjotncnt of Toll Zinc ^6.75 P^r d,,, i.*... . during tiu- *ao.;li. J ..wJ i 1-. t A. on September 1, 1951* llessrs. J. (h l.Vibo.i iditore, observed the taking of all Lin inventori*. ...O, *> IV. : I ' 1.. ' 1 r. 1 dad and turned over to the hotel cal i.dii i.,- . 1 V..I o. i..- j- 1.... These tins accounted for a nalor portion ei" .1 . j h the end of the audit period, they did not. not;., ...j. . ..i: i.c .1 ` > inventories tak2U at a later date, bin await, i: .j.ciiti, tr. ;j .i.c Lfic weighte per cubic foot if available, c. lb using specific essays. Full or partially Jo,d'.d cc observed that inventoiy, but vei-e further uvliUJ )Ox' li`,, c.U ...-.Vditi .L..1 V; . J iiti.i contents. This also included clerks1 esti oi jin'.. o.. i .. iloOi pNYC OOOII849 if ..A w ? ;* * . low OF INVEKTOdIBS The method of valuing these inventories haa changed since the 1948 audit.. The aiJver avid j-old are no longer reduced to 34*75 centa and $34*00 par ounce, respectively, uwn t-.;dvl to ths tockpils. All lota are nov added at actual eoata and charges but the gold coat is divided by ,34*91 to arrive at a new paid-for ounces figure* Thus, all gold paid-for ounce* go into stockpiles and stock bins at v34.91 per ounco* Aa before, care out of stockpile and stock bins are given average contents and values* At onth and,inventories of all lots are recapped and silver end gold tot*l ptldfer ounces are revalued at 34*75 cants and $34*00 par ounce, allowing the difference to fall into treat-wiant. Therefore, the individual stockpile records eari7 actual costs and clvarges with ^old at /34.91 pv-v ounce but the total inventory as used on statements is revalued for both silver and geld* This 1* useful lota are transferred between plants because original costs are then no.idod. Actual freight and refining charges, sine and sine coats and tr-at:.cnt chargee arc used a* totaled cn the Stockpile Recap Sheet* The lead and eopper valuations now are aside on a "nonwi2 hate" mm hoi *lor*g with the ltU *r.J copper in the byproducts inventory. Cb Kay 31# 1949 this method ua started niiag the l ay .11, 194c inventory* as a bass when ths govsnassnt eontrollsd pries was lifted. Tbel-oy 31, 3949 inventory vio.s e&] 1 >xi nmvil. Also included in the bsse were old Copper Plant inventories on Lend tkui in 1944 bit transr . red to the head Plant on January 1# 1949* pNYC 00011851 S'-r-i: Ki: 5/31/49 Stock Pile ly-Froducts Pounce *.61s.f36 .<*53 Zicae 1,17:; ,10r Bass 2,107,763 Base 447,058 Base (2,7) 90,80? 12/31/.:? Stock Pile and By-Products Increase 12/31/5C Stock Pile and By-Products 3,821,737 3,221,73? (5) 470.035 4,291,772 3,821,73? (5) ... 2:*. -17 OtotK Til-: Incxarr. 3,""--i' : * 1 z.iy,.1-':' (= ': . (r: E<glE2afl3 Amount 6.500 ;s V 352,211.57 20,117.61 13!-..l?i.'j.\ . V f:7C i 76,4^7.0? 6 500 4 500 ) 4'500 ) 137,004.60 24,203.93 t 237,655.62 las* Base 5ane Pourns 248, C23 l-.il'.-.iu. C) (3) (2) (2) (2) (3) 7.0-73 21,079 554,674 49,520 3,890 742,820 459.176 2,0U,052 V 237,655.62 8 274,059*82 (3) 1,531,876 (4) 86.921 1,668,797 IT XD 8 237,655.62 ^,027,8? 0 159,627.73 %i i- 5.C v 76,447.09 310.77'J- 37 3:27,217,4c 24,203.93 137,0u4.6- *' .4.1 v i2i.,3. .7* i ;Ll Base (2) 697,109 585,646 (6) 110.676 1,393.431 a) 9,#7 150,3*-? iisJ?? 75*,C7L (2) 4?6,?7; (5) .. (U) 6ol,cll. 1-1?- Per Pound 11.039 .500 11.77-: jjucmiv 4 27,475.41 1,"?1 71 , 130.^2: 11.77; uno 11. 75 i0,C71 10.078 10.377 17^63 <, 1,16--. .1,791.72 65,312.87 4,987.37 392.03 97,838.U 81.563.43 8 253,050.43 15.818 171,487.00 13.749.15 185,236.15 10.376 6 72,330.15 68,269.49 19.929.55 ; 160,529.19 U.775 23.13? 6.500 U-775 9.727 23,131 6 362 *. 1.164.90 32.505.6? 0 33,673.79 V 1,791.72 65,312.87 46,531-35 l 73,720.86 10.06 . i:7.3 4 l 5 i I t i v` w. i v *. I cr IKVEHTOiilBS - Continued 4Iss end Stock Bins - Continued period Inventory - Kay 31, 1946 Tide inventory contained quu .ltlee of load end copper at u.o dm in. controlled and both ueed under tba prior method of v-.lurlion. i'h. I while the last controlled prices were 6.5# and 11.775* both.for l --- - %i j. U.-iw Tv-j--wliv 3,-. - hay 31. 1910 The stock pile and hgr-product inventories uro valued swjturaUiy mi * -a jn, fj rev-out i l January 1, 1949 quantities* (1) This stock of coppor woe incorrectly valuw.t, it -l*>uld tiv.- carimj at M. (2) Old copper plant inventories w.re transferr...l to th- a-*w i amounts were still on hand at hay 31, 1949. Valu-w .r# at UuUyiwr.-*. c I, I7.7, ... (3) Excess copper (459,176 pounds) ovr Jaoer; 1, l9-<9 uatounl i current sales price. This excess was lost at y^ut- vnd, iic./r^or. ,.jJ Ua. j V-Jvi.. tntorlos - 1949 and 1950 The stock pile and tyr-product invor'orius u.n. h-t- -ula..; I irregardlees of physical inventories wf each . J(2) In 1950 the old copper plant inventory 0*- lvt -.e.j -o i. . 1... rlc ci ux.. u.i- i such of It had been recovered in the previous j --r mi not wn ei..n ... a. i- of M... \riU.- i being sada at 10.5# per pound which was hv.li^j umu t.h. .i. in-j i>i .,{..1., au tho'./n at h.y 1949. *' (4) Even though the M<y 31, 1949 gain of 4593/6 j-v. i. . . u .. . .. J), iV49. ui.ut,... 1 was shown (66,921 pounds) uiiich was th- <iifl*wxv4.e- ;.w........ u ... .. , . i ;.. .i-. th* The value )r pound uas tne avarey,.* 4u>ck pif-- nw-o 4;.- i>,v.,. (5) Increas-cand Jucreas.,e ar- at current. i..ai.-t ...ac.-. (6) This copper increase uas valued at hey .i j... )v;(> a/.i- - u- , 1 last-4n, firat vut L*j>ls. M. 4 . . .In. i. r lnv^itory - An>ust. 31. 1951 A return has nut/ b-n made to valuing ti.4 tw.. in,- t..ari--, .j.4... < - * *, . base x*r<u th* i.-> j\, 1949 inv.ntw*v. (1) This is to b written .1o .a to 11.03V; *-* ./* i-vlw. .. it . r, . (2) This balance ci` old cof-p^r plant inventory id w-li i-:.- -,....1 still ... 1 reaoval at 10.5# nas reduced ihe value to 9,?d/ per p^und. rhi* jo t., i, w,)i*..n .io..n n. i.i . ictual pounds of old copper plant co?-jr still on hand t;> j j , n., 3>, 1 V.;t = " mtory was 197,943 pounds at 10.5# per pound txv.ufwi*: -u c;.ui. (7) Tlie lead content of old copja,r j-lutt iuv^:tw4-i... hrBplans to eliatitute this pert of the t*j< JnVvaitory {70,0^//) tv.ui,.4j . .>:.-V.4..U w.al, i.r. t IU/ ty u-u^.;,..x 3], )ooi. (8) The practice of decres;:ing (borrouin,') fro* r-j jnv.1,1,.1. .< . . , , ,j. -l.u .. u , ... ; Jlilltgr of a v*iy low valtw eva. thov.h it wottld b. inv.i.v.../, iv m.i ^ -u i -j to Mr. Floyd ttwt hu valu* the decreases ot Ui last dried u.av. c .;u u j , ur jau,,!, t.l 1-c-u at L :...be. : 1 Rif each year. 'iTvnt the system could be clasuifiod ay U-l in. u, ..-. ...;i. n; .Lin ur.t.. u;a . |itild give him a bad looking prefit end less stal^- .:t it u.w it.........: w./ - . ,,j the > is a necessary vil of this valv4atJon syoltn. -...1 .:w< Aujjt-r .. u;-. i n.t . n; 1.,^ . />.. -..j i. nuotions on tno ocsir-id laelltcd of vuluatiun to 1..* full-.t ..1. ..... i,........ . . j . ^,.-..j .: a largo increase over Uu.ua 3uventori b > t. .1' l!., 1 ... . . ....... n.-t pNYC 00011B53 * .>4- H SLIP TREATIKO PUNT * - Continued fog rm Mte&gig - if. -"The txtm iarantoty ooneieied of in trantIt to I, M, and M. Cuapuin'. i*n haul output/ owned j[ os hand returnable to American Zinc Company. Host of thu on hand- urs -till ,-i.u;-WJ by ti.u mimting departaant and art all handled at outlined in the previous audit, :*xej-.t the aunty of i laat lot of fume shipped ia uaed for content of the fume on hand. The car and wiecellarwoua ttatoiy was observed ty the Auditor on Octobar 1, 1951 with Hr. W. H. Floyd and later checked ijtha records. Thia did hot include thoaa reported by ti-.a ojx; rating d>.pirij-oat ihich u**ve ecti- jbtied. Tha auditor waa praaant on November 1, 1951 when the Lead Plant SuperiiiW.vtcp.1. the dlen mting Plant Foreman and his assistant eat and revievod oloBMin.:u, u.-i ration:; tii.;- --on October 22, 1951. The Bagbouse pita were viewed and eoti-i.Uil uUlu -11 otiitr 1-y- rodoeta invantorioa ware entirely eatiestad. Tha in proceou inventory it ust lta*iu ic cwa- tad'bvt both aj*rtwt tiw to ba raaaonably accurate. The estimatwd inventories at Tcoule Inclnla la in tha Chaaber, Plus and Bag Rouse, Boat of which is not available for u-asurii^ or vi euir.^. Consigned atocka of sins oxide wars out of town and wr not plyoically vuvifiod by th Auditor tbonalgneea lattars ware audited to confirm aalaa and balances on hsr.d. All ccr.ui^ucd stouts ro- ` i tha oar assay as originally shipped. ~ ?;jOne consignad balance of 20,775 pounds of oxide waa on hand at August 31, 1951 out of a car Sped in June 1950. The consignee ia tha C. L. Duncan Co^paiy, lioi - lyth San Francisco, tlOTnia. No aalaa bad bean reported since August 31, 1951 up to tin d*L- of K\l<s writing. ^mramsm The Bathcda of valuing Slag Traataant -Plant- iuirAnLorifa ievu noi chu..j-.J u j .i.c ..- the 194d aut.it. In stock piles and bins la valued at actual lot cost;.. The lots h j u<.si{in&l.u or. -lu fltst-iu, it-out baaia. Bin ora also cartles sampling coat at the cuj-re.it cost per ton. Duleuiieti zius fu-e ^ransit to International Minerals and Matalo Company ar.i on lu-v. -t r.:.w ol tut i, - vJ u.*) topetl*.*. ba I. M. and M. Company contract tarns but with an watii. uUd tvcjuu..ut cost ou on the j ,j rlind- ' aattlenant. Gold and silver are not paid for in il.ia our.tract uoj vc'uod on n,- i>t` lUa* ii.v-w- Laadad sine oxide at tha plant ia valued on the iiul.a t,,r.ut of f;i* .j soul it. i t;- L-i.u Plet.i. ` 1 stock was also valued at these sane sales Unn ovn-.pi u-*t ;*.*> u-i ri-i ut Jb.itLv p.r Nr. Floyd stated that he would change thia to follow the t'u^t a-]tr, ptic*. \.i.i:h iu the curjui.l tat value. Cold and silver are paid far and valued at $32.b)6 (10d,;') u.d 34.75* i-or out*;*-, u- letivaly. . ' By-preducte which include dusts, cleanings, fiuaew etc., valuii -it curi t.t cor.li Thia includes aajqiling east. A minor pertion of theat. :aloriuld, i--- fur.uuv cUuiiin,.^. ti..;.. ^returned to tha Lead Plant far ratraataanb but aoat coalinu., on tt.roi^h Lh- Vr.-ti it^, ' ` ding oast is applied because the eniy byproduct Jr. 14.jj fjuctiou of the f js eithoi- a* atad ar perhaps said as a finished product with Lewdeo 2i.u; Imk '.j . J.r. FJo.h *uj quvstloiio-' it the amission af purchase east an all ly-products and hs jt&tcrd thet thor woo no purchaov co-t big tha early aparatian af thia plant and ha ia usii a loai-in, firut ut chccrj- uu U>iu iLutui-l. L(> Thia iovMitary ia almest astlroly aatimaiad and flucli:>loi> very little. K&UBS AND DISCKEhAiJC];j IAT0B mtaa shipped ta Anscenda i checking the August settleaent for Zinc Concetrt.-o ai,i|.pi.J to l.-oi...<*, Uu-: au.'itii .. ^price far sine freight ta Beat St. Louis was ncU-d as buliv< .7635<! or tH.-/ tu. *Sa mat auditabla from tha information an hand at Tooele lec.uoo th^ > r*vi.u:> j-ato j .i iiti.u. J vf 1 '$15.43 pa** ten and tha laat increase on April 4, 1951, '-a* tt*. pvreont, supi cs-rin, a nut t $15.74 par ten. The ratr uaed in August 1951, h-o^vur. i^.a l;.27. i inquiry te Anaconda, Mr. R. K. Kelly replied tha Ma. Ua3h.>o 3a.:,`lot i r./t b..u a.lvA:*..;j oi - a# in February 1951 ta A14.9& which would exj-.l-j; thi ] -.v-al in: uu to $15.27 II. April , Kelly alas stated that Salt Lake was infora.J j i th ror but, ,,dwojd-. that r.ho iov-i-. mrrant revising the aattlamenta.* PNYC 00011855 r AMD nrSCKB'AaCIffj - Continued an Sortlonwent of Total Treatment Host In prorating total coats to the lx Anaconda Ccp/.er iawirr: iv-' -rJUtitls* trust**! and viu I" ona cuoton ore classification, tha char** for treating cold t i.* dt* >t t'.u r.>o *t k is dul> clod ( from tha total treatasnt coat a* arc th* currant. Cuuaiu.i Furin;: kr.vi ttu currai.t rtcl^iikin^ !, expense. This assumes the Anaeonda aatariala do not contribute to . t::. u r;r.e.e uui vie* v\ruu... v tban tha average coat par ton traatad derived frao tl& net vwnu U ; *iiv *.i.3o;*u. ti.wiii.iii ^treated and the balance of treatment coat is applied to tre cu9ooi o ., >v In August 1951 tha dafarrad Cadmium and reelolw.in^ costs veie d ch^ t.>l /row t>1-- total trtat- jt U.aoat inataad of tha currant treatcunt portion of ttosw opur*tiwr.u Vui j ;(iv^ u per vox lr*Uant jj-eoat for Anaconda aatariala which was approximately 85; pr ton In t>r th.n it J.d u Ij ir-v* v.au It : alao laft a larger traataent coat against custax ore then u-_ curi-v.i. il.i> *;jll U> can\u.jd in 1 Hovwtbtr 1951 accounts* FnffiATIHO PJ.AHT * Aasdad Pune to Totemstjonal Klrnralj^end KgUja Tha freight bill, Bartlaavilla uaijht, on car U. F. 6.\4u f d.-a.i. .t:.d :hc fuuu chows - net B.weigbt of 112,930 pounds but using the gross and tu>\.wui Jit*, Ui. ...,i ;..>onhi raw. L-,,m lli.yud 7 pounds* Bartlesville weights art used o;: the settlui.tfiiL ti.cl for U;;> fiwi"!.t chirks i>ut not u.i the i Metallurgical Statements, as in transit iucen terras,. nalMihi m*. iftn \ 1, In valuing tha consigned stod; of sine ovii*, it. rat. i . L),* Pfume was used except for the lead price* Currant L.-d eric, i . ... i.. l i,. |transferred to the lead plant hut an older price of JC.0<', c...i i r.Li.. "that currant pries would be usod henceforth, 'flu* j), !>;;' i.. . ,wuy '1560.86. . t ot trad ui l.--t ru-.c I..-. Klw/J .. ku.i.l ...J-rtf-aU-i ' > Will, tha above exception*, c/ily u.; <u.. 0>V .-!:! . i'.i r COTTRELL F3HE On Monday morning August 27, 1951> ju^t bj\.ra li.- cut in ths.* Load Sintwiln* Pit/it Cnttrell. It nu- i .n !. portion of ti Flue, which wuo slaited e?;rly in ii^r*.. w- t'Jofc 'a. ..niplittd to allow th I.vi.d riant to w; 5 all of tlie lead Plant except the People Hill in.i t .i. K. i i elos&d because of the loss of its asjor racwipl, it -v. | was contli>Ua.i in the Slag Plant hiln. Thu Suplhidu : | its nornul operating runs. ^WKird.O/F t r .. 'ui. -> . _. h .i * .`1 Tiw copper plar.t was cut.plataly writtf.il off on ds> *!/ 1. l B. 0. Sou-w*in* in hij latte.- of January 17. AV.'-,V. to i.r [copper plant inve.'toriuJ on )h>nu.ber 31, 19/JJ /.*- l.y j; 1 I Flue Duut end IicDou:pJl bi.oai.fr hottoiws .id ft a. . [ the invvxtoriua arc crrrivd c;, th Mew fH: howhr.. fh [was included in U#e Iwvd Flii*. by-products jnv..<ii .y 1 I the trans i'.r< J inventory Ww* .; I !< I v.I I Lud Copper SlLVui* (iuld ..V..: u ;Kd,VJd. v: ,, lk?71.t? PNYC 00011856 O&igUl. Ot HiskWY3 f WRITR.QFF - Continued Xo laetallurjdcal statements have baen prui.jrcrt z'o. tt. i'L,.,...- / ...-.t hv:,- 1 , A* before, data of receipt depends entirely on avail ability vf fafik" > n-t - i IJ.. latad profit and loaa figures are aukaittad to 1J-./ Ycric. Yin v usjulV tv,.l^tii of U.: A.11..-;-- g month. Tha Salt Lake and Tooala Offices agree on loti i.., bi. .i:<i v i*. , u. t,i i. Azy lota which bad been physically received and du.*p-/d W, ,.r; i*..t l*. ;. i V. ! .-l A. t.:..- ,, . j i. . > tssipts are runovsd .from tba inventory where tl*^ .^yy 3*-', ..j. '*; L- t. - ufu.i ..,\d . ' `hod of arriving at receipts and inventories; but lit. FU;d li-.i j i. .t.. >:<.r, t 1 for accuracy in the estimated profit and lo&s *.ka isi'n . U. i .: l. *. i v >u x-.i-.i;: It only final ailvar affidavit figures in bis LiuntlJy profit l^si jt c. it Sprofit and loaa statenant is alao tba final so.uthl/ *t3t*..~nt. i TO AIUUVB AT HCKhAL UflSOYtttlBS . It ia still tba practice to adjust, *t uill, veriouu invu.io. i..:: i UvO t!'\ :* :: t. psrrive at nore normal recoveries. In August 1951 nu.-jcouj ?b j hu> tn u, > . ill rldanea but war* not shown as adjustment*. Ti, ii i.y ci chung-w . V: :*, 1-.W- fu-f ^inventories but stook pile removals and j a .: <. \l.v M..in ..... - nStock pils removals are given either actual usw/.-. or iv ! *.;> -.iotl.j i. K results. Ths Sinter sent to the blast Pum-.v.j fr.^. <>.* Svntdi* Hu m i. i.v-nli;!., -> w.'lv,.-.- piers reasonable recoveries at both plants lot net ail-.,a i!.; . 1 i > .i g,tb* tine eoutsnt of hot slag sent to the SI eg `fj-waU.tv Flint f * U\.t \ . i n m I! ^ f. gat a acre reasonable recovery at the Slag Tr^ati.b, I Hut. C;t 3u i r f taries wars not used at all to help pull den.. an V ;-.un/ >.f b- > tatsrUla and the impending strike, August ;:-i *. ul*>.nup a nib. 1-c't' l.i ..f U.; } larger August 31*t inventory edjuabymiti,, V..j ; u.d..ab.4 . fi . .,ms____ | Pounds CUX't I K r~Es; ,! ' Sinter - Aa Tekcn 27.00 i.23,501 2 .00 :.7.M An Uud 21.00 533,273 2.00 15...7- Sinter Cleaning* (1) - As Taken 31.35 981,505 2.01 C.3. - As Ul 27.55 759,169 .C73 Dross kwverl Spci:i - As Taken 8.60 64,125 57.8.' . Uuad 8.60 J&al?* 67 33 " Total a* i'-kaii Total as Used 1 ,476,131 1,156,552 r >c 39-i' 3A - Decraaee (kaissiciuit Yard CUsninj;* Pelt 317,579 322, cV.i 1A.6 22,6bj 3-6 32.V _ 7.6 303,: >,ML v' l2M.*xr Sinter - A* Taken 29.20 4,477,236 2.00 306,640 - is U*d 29.04 4 21,466 sif.s.^sr_.5 V, ............. (1) Tby dry weight of tbit tu.tvi-j.1 yo v > l - 61: Vt V! -.4 , >1 . t. / 1. ; ' 'u PNYC 00011857 ** ' OWBHAL OOHKEHTS rWRITEOFF Continued No netelinrgiesl statements hart boon prepared for tin Ccpj>*r PU.'tt ;`iiv3 1 vOi. As before, data of reeslpt depends entirely on availability of final iicttlwa*nt data when the ntsd profit and loaa figures aro suhaitted to Hew York. This U usually th* 12th of tha folloi;l aonth. The Salt Lako and Tooolo Offieoa agres on lots to be iiicluaud aid excluded et cvvnUu; uoi. r lots which bad boon physically rocsivsd and dumped but wore not to It i.K.ludod in the iuor.Ua. r~bsipt* are rwnoved from tbs lBrsntoqr wbsrs ttwy wars dunked. Vi,La in a confuj.I.Rt' and *5oily arr.-.t ic bod of arriving at receipts and invsntoriss but Mr. Floyd etst-*s th.t it is necessary Uaauao u' th. id for accuracy in tbs setinated profit and loss sU*l*ant. lie eluo l.a* r*>w,>iv.>d instructions to i. llnds only final silvsr affidavit flguros in his Monthly profit and loaa statenante. Tha estiuaUd EOflt and loss statssMBt is also tbs final monthly stat*.unt. i TO AEHIVN AT MCBMAL MSOTTOIP Sr It it still tbs praeties to aiijust, at will, various inventories and intoj-plant. sh^,>< <ul o to pivs at aors nornal roeovsriss. In August 1951 nuae/ouo chanjou in wai^i;t!i and assay** ''or, in rldsnes but wars not shown ss adjustments. The aajority cf changes uado wor* in i*t.a Plant s-- etoriss but stook pile removals and iuterplant u o v j u writs were also ..-tJh^d enl siijusu;<i when jltoek pils rssinvtls srs givsn aither actual assays or average stockpile user's, depending or. Uesirnl tits. Tbs Sintsr ssnt to tbs Blsst Furnaces from tha Sinter Plant. is aiijuaUd ucnthly w afiv.si anabla recoveries at both plants but does not affect tlu t--vori.ll le^.i Plant recuvenes. Aluo* HSine content of hot slag asnt to tha Slag Treating Plant fitnu the Lead Plant is ofton adjusted to _ ^a aors rsasombls recovery at tbs Slag Treating Plant. On A%uut 31, *951 tuu Sim or Plant invu> fieri#* wars not used at all to bolp poll doun an abnormally liifch recovery. Poeaute of the AhorU^t: of aterials and tbs islanding strike, August was a cluanup nwnth. Below i e u: o' Uki)<le of Ihron of the larger Aigust 31st inventory adjustments, the two otuiesiona and tl*.i Sin! tr transfer adjust -o.it: r Pounds c o ppsl ' j.....E&aii oQ?rJ&a ' Qit*. .P.*L :L\'> Ou\>Ct.a H *\ 88 NH Sinter As Taken 27.00 428,501 - As Used 21.00 333,278 Sintsr Cleanings (1) - As Taken 31.35 981,505 2.01 62*900 - As Used 27.55 759,149 .873 21**060 Dross Reverb Spslss - As Taken 8.60 64,125 57.80 430,980 - As Uaed 6.60 -64JL25 47.80 aswdi Total as Taken Total as Used 1,474,131 1,156,552 525,621 396,343 Deerease emissions: Yard Cleanings Belt Cleanings EWfolX. P*cr^!t 317,579 129,278 18.6 22,608 3.6 4,376 12.9 --AS,331 2.6 _2*HS 386,508 143,393 f Transfer L Sintar - As Taken 29.20 4,477,236 2.00 306,660 - As Used 29.06 4.155.770 1.99 2V> 21,466 7,6:: 19.25 13.25 20.7:5 16 635 72.96 43.96 17.06 y./i (1) Tha dry eight of tUa material ti> r.- 15,:^7;.26 .15 .U 21^*17. .10 .12/: .1C2/. 27.W3.V5 H*o;6a5 74, Otili. 5r 49. < \! . V / lii, ,, :>r.. .^6 1.04 .8/. !,iii .i.04 .OV llV.OSd 119-02b 30V.733 mtiw 7c O.?9`. 573 -;v ; l-2?.i-.3 V. ..v.7 'it.-- 5 PNYC 00011858 ~*v.. He* JQEMHIAL C0HhmT3 TO AHRIVE AT KCRMAL RBCOTIEHS - Continu'd Examples of post unaccountable (x) losses, so publishvd, *v j : 17 -*-* 1 - , ** . COPPER omM leap - 1949 . 3.301st ,r;t% .. o* 4.17V* Tear1950 , 3.168* .J.4J* A 4.645* August -`1951 Uanuaxy - June 1951 , 6.9a* 3.082* 3.948* 5.565* 4.11c* t (z) '` Thoso r alllosses Afceept slog loss, which is nearly constant. While it is true that the Tooele Plant hss large fluctuations in content i. vf oris ui concent,-**...;; I4ted, there.should lbs s Sore uniform and wn-t easily Lrace&bU i..iUicd of l.nvlin,, th-i-., ivc a vary bi d ~s percentages. The swot prafarable move would be morn exact and complete i.ivvnuuiwa ind butter asavyj. rs seta to bo asplo assays. Cospositos are hard to use because of the cont.nv fluctuations. Aft*r ill s is dons, then adjustments would bs proper if needed. An *onoi tally high icjv.otx_cr:t would then call for an investigation if time allowed. In the IfonUnu plant, adjust: .ui*j c-rj cllo.cd aver/ j.onLt, tszcept June 30th and Deeesber 31st. In s discussion with Mr.. Carlos Bardwell, Smelter Superintendent, u.i W. M. Klo; J, Chief CUxk, U*.; editor suggested that adjustments bs limited to a few upecitic invur.' wh**. nwded an.1 t.m all d inventorytments bs shown on the work shoots as such and shown tc the sj.onl each u.witli, This was readily I .to by both uan. In diseassing taking, hr. hardwell ayreed wild. Ur. Flayd that the flue tu ns of the contents of treated custom ores and conecntrscoc a u.ujo< ccnil--u.tic-ri at Tuoelo aud chut fluctuations are bound to occur but in tbs lont*. run loi-Jbc oi .t > ivis'kaiit. Ik also stated the point of loea occurrsneoo are watched and centre!Iud, msu* * loose* are not cnuig- noticeably. Upon inquiry by the Auditor, Mr. HarJwtll eUfvd ii.it J.* vould U glad to hav the oy.erat- department give opoeial assistance to the clerk a* Dvci~vb..-r .41 ct kr . toil :\.-r .aioi thuy take invunturieu he offered to submit more complete flue and bag Uvusv insouirito-c .v*n t- .ii. j V ths Lvud Plant, whr *11 *ea agreed, the inventories were lax. . In time it is believed that these changes will nd o l.d.h i-ai:.. "sets of those fluctuations and perhpsps will loud tv iUir Uii4 . . y.ii cC tits causoi **: : ITAL RECOVER! Kbt)H FUItH*CE Removal of the old Copper Plant Reverberator/ F.*n&-.c 1/*'i.v.-*-. i'.-'-Y; ..-r 19SO i : large excesses in uetals ever the original inver.Uiv. all ? >.t cany no r values. Tiie final accounting showed the fulloi.`> : LitAi?** ! jciiVvi, . .... nt Catcher 31, 195v*t Pumeaa fJo. 3. l.-.d i :~vi :t./,175 .* rt.-. . 1 iO.Vi.O aiJVvV Ci 26.2U.34 .Iwli. 3,viS.i:V Purnace Ko. 4 ,VJ ,iy. 17 ,-.-3 5c6.2 22... 59V This is further .support to tits theory recently jr.-ven a nth-;;- tin tiiw build-'::- of fun. see vtoms over the period of operations tends to b corjsidoruMy .'Va. The recoveries of j.et losses show up in hign^r e-UA.ni: from cold slag at the Blast Furance Plant. .. .. . ji . ,f ; i'U:i . OtaiCUKKrt The Load and Slag Treating Plants wero shut down fr-:. Ai`.g.:tt 2/ t-> Oc*;: * 21, *951, iiwlu^ivj, au result of a strike and a fire, l*oth of which he^ari on :;V. IV !. A .u ; lod Ham Sii.l-jt "= i.. :li built during the shutdown. All reuslining Copper Plant invaitc-rioc wore tt-.ni'a.-ictl tPlant etatunenti Itave been drawn up cir.v. j that .i-'--. .. 1 ) 1 o.. J u.Uii'.' 1, V/',9. - oooi^59 pNtfc **' i ;* :