Document ykZdqbp5NYEZ9o3RGpGwJEJrD
SECRETART'S PAPERS Meeting held July 23, isi^.
PNYCOOCC6721 N11102
INTERNATIONAL SMELTING AND REFINING COMPANY SUMMARY OF RESULAR MONTHLY MEETING OF THE BOARS.OP DIRECTORS
HELD JUNE 25, 1946
Special Minutes of the^meeting held May 22, 1946 were read and approved. Statements of Net Income and Net Current Assets as of May 31, 1946, were approved; and ordered placed on file. Resolution ratifying the action of the Officers of the Company In
executing deed dated April 30 1946, covering the sale of lot No. 4>
Block No. 2, Kelsey Subdivision, Tooele, Utah, for the sum of #250.00 was rescinded and cancelled. Resolution was adopted ratifying the action of the Officers of the Company in executing; deed covering the sale of Lot No. 13, Block No. 2, Kelsey Subdivision, Tooele, Utah, to Edwin D. Pinch and Zora A. Pinch, in consideration of the sum of hp250.
Adjournment.
PNYC006? 2t
nmumiQMAi. smariw a id minim c o k pabt
DiBtcToaa* ntstim - j t o t 23. 19k&
pko obab
PIHSGTOK!
Cornalioa F Kailay V. 8* Hmoar Frodarlak Laiat Bobart B. Dcyar
Clydo *.**
Ju m X. Bobbl-- B. 0. Sooarwina
11*00 A. K.
Blaatoa of tho a*tine hold Jtsoa 25, 1?46 to bo nai and approTad.
Proaantation of Stata--nta of *at Iimh and lot Currant Aaaata aa of
Juno 50, 1946.
Approval of Appropriations!
Ba. Daoorlptl--
1J fordita of too Oanml Kotor truaka for tha Tooolo Plant
4?8 to mapla to taatallatlan of tho *0. Ik olootro ahaot dr-- and bolldine --A aa--bltng Bo. 15 and 1( dr--a at Xarltaa Coppor farts
Amount * 3.816.84
28^95.00 # 32.Sll.8k
Adjourn-- nt.
PNPC00006723
Mill 02-01
nrrtHKiTiosii aoMiro am mnaa c o mpas t KPCRilTDUM POE DIBICTOBS* KMTIIP - JOLT 23. 194-6
ESTIMATED TBT IBOOME
Sae11 lug Department Raritan Copper Works lead Refining Department Zinc Oxide Department White Lead Department Accrued Interest on Advances
to leases Sold Miscellaneous Income
Deduct: Loss on Sale of Claims: Talker Mining Company AdminiatratiTe Expenses Capital Stock Tax Miscellaneous Taxes Interest - Anaconda Copper Mining Co,
Month of June 1946
$105,770 68,048 9.353 344 1,347
500
$181,980
$8,500
$ 8,500
Less - Depreciation and Obsolescence
$173,480 53,777
Federal Income Taxes
$119,703 47,500
NET INCOME
$ 72,203
Add - Hot Income of Subsidiary Companies
CONSOLIDATE) NET INCOME
$ 72,203
Month of May 1946
$ 69.768 115,738 4,676 8,093 1,890
Six Mhnths ended June
30, 1946
$244,833 17,696 32,488 37,946 46,449
907 $46,590
10,002 $313,522
$9,691
587
$58,^93
6,676
$10,278 $56,868
23,985 $80,853
$80,853
$80,853
$ 65.669
$247,853 232,661
$ 15.192 21,500
$ 6,308
456
$ 5.852
Six Months ended June
30. 1945
$ 85,421 773.906 36,497 70,241 26.673
18,500 . 18,665
$805.715
$ 44,628 66,328 2,500 5,933 56,501
$175,890
$629,825 299.755
$330,070 79.890
$250,180
163
$250,343
CONSOLIDATED SURPLUS ACOODST BALANCE - January 1, 1946 IDB - Set Income Six Months ended June 30, 194-6 BALANCE - June 30, 194-6
$870,460 5.852
$864,608
PNYC0C0C6724
M11102.02
HTEBK1TIOHA1 SUKLTIHO 4HD HEPIHISC 00HP1ST KBCRironH FOB DIRECTORS. MKSTDtC - JOLT 23, 1546
SSTHUSED 1ST ISCOHB - SKSLTIHG D1BT1*ST
Tooele Lead. Bleat Tooele Copper Pleat Tooele Sulphide Concentrator Tooele Slag plant Miami plant
Deduct: Tramway Expense Outside Exploration Selling Concilia ion Oxide Concentrator
Less: Depreciation JTKT IH001IS
Month of June 1946
Month of May 1546
Six Months ended Jen a
30, 1546
Six Months ended June
30, 1545
$ 50,90* 3.500
50.572 28,854
$110,120
$ 25.365 +.550
23,3~1 22.403
2.300 $73,743
$ 62,285 14,250
162,404 154,256 128.000 $265,230
$ 86.513 216,342 16,551 1+3,563 74,050 *-48.251
$ 120 730
3,000 _____m $ +,350 $105,770
15.411 $ 86,355
$ 120 1,148 2,200
____m UtlU $65,768
18.015 $51.745
$ 720 3,554
12,447 3.276
$ 20.357 $244,833
116.656 $128,137
$ 750 16,125 16,827 3.428
$ 37,170 $ 85,421
96,343 $l.l7-li
PNY C0GQC6725
^11102.03
urrmrmom. s memih o an> is f u is o c o mpu t t ICMPRATOat FOB DIRECTORS' MEETIRO - JOLT 23. 1946
ESTIMATED IE IBOOKS - RARIfAH COPPta Rga
profit on loll* Profit on Premiume Profit on Gilding Metal Profit on Sale* Electro Sheet Department Miscellaneous Income
Lees - General Expens Selling Expenses Buying Expenses Strike Expense
Less - Depreciation
Month of June
1946 940,000
52,042
4,205 600 $00
$77.345
Month of May
1946
9-
-
_ -
$-
Six Months ended June
50. 1946
9 109,579
108,880
2,198
25,980
5,294
3.248 9255,179
Six Months ended June
30. 1945
9 519,568
107,463 83.145
72,053
5.516 10,262
9786.975
9 l.ooo
345
9-
-
Jbm
$ 9.297 $68,046
28,857 959,191
115.758 9115.758 $115,758
$115.758
$ 2,000 1,758 -
251.745 9255.485
9 17,696
77.057
9 5.9,341
$ 2,000 5.966 5.103
_
$ 13.069 $773,906
170,109 9603,797
PNYC00CC6 726
n 11102.04
jgrqaufiojn> ara-mrs aro apamt c o mpit t MMIBlIIim TOE SIBKCT083' MSSTIIS - JTOT 23. 19+6 sxaa**, m cpio - IMP figmio, snc OPS, uro s h ips l ead
LEAD HSPniHO PSPABTira* Operating Inaome Depreciation
sure o x id e pgpiBTiigp Sale# of Sine Oxide 31ab slue
Cost of Sale# - line Oxide Slab Sine
Operating Profits Sine oxide Le#s: Depreciation
nr neons
Sgc OXIDE Pound# Sold Sale# Price Coat of Sale#
3iib snc poundsSold Sale a Prloe Co#t of Salas
s h ips l ead rntpigntgrr
Sales of lead Products Cost of Sales
Depreciation
rat neons
Pounds of Load Products Sold Salss Pries Cost of Sales
nth of >: June
1946
Month of
"T 1946
Six Months 4Sd*d
30. 1946
Six Months ndftd
30, 1945
9.353 2.489
ri'.8&4
4,676 ?.944
esm
32,488 14,781
15.707
36,491
15.407 rsi.ojo
$108,126 2a.398 ISIS
$108,470 24.398
$iyS.B6B
119,238 11.84U.
IlilolB
127.331 11,84'
$137,171
734,774 135.3*5
TO.31S
772,720 135.^5
M2S
710,830 150,02b
B&T856
840,589 150.026
flwla*.
$ 344 908
_L1H
8,093 lil68
9.261
37,946 7.882
45,828
1.538.250 7.0J* 7.05*
1.557.200 7.66* 8.18*
10,101,000
7.27* 7.65*
264,670 9.22* 9.22*
139,338 8.50*
8.50*
1.594.362 8.50* 8.50*
85.375 86,722
1.347 2,112
3,459
992,585 8o60^ 8.73*
81,095 79,205
I.85o M5*
36
891,559 9.10* 8.88*
875.457 629.008
16.265
$ 30,184
7,700,000 8.77* 8.17*
70,241 __ 2i2H
$ 60,489
8,262,910 8,60* 7.75*
1,762,1+6 8.51* 8.51*
351.970 378.643
26,673
$ 34,817
3,897.350 9.03* 9.71*
N11102.05
IWrSEHATIOHAL SKSLTIHC MI REPINIRC COMPACT aaiOHAHUM FOH MBBCTORS' MEETIKO - JOLT 23. 194-6
s e t Cp r r bh t a k d , OTHgt a s s e t s - j u r e 30. 1946
CURRENT ASSETS: Supplies
Metals: In process
Finished: Lead
Copper Silver Cold By-Products
11,822,897 Its. 5.14.9* 19,361,938 lbs. 9.305*
2,641,080 oss. C 39.36*
18,392.322 oss. o $34.29
Reserve for Freigit and Refining Charges
Manufactured Products: Lead Products Zinc Qid.de Mixed Metals
Raritan Copper Works - Electro Sheet Department
Accounts Receivable: Tolls Others
Cash
$ 608,700 1,801,702 1,039,561 630,699 21,090
$4",101,752 596.290
$ 115,594 241,657 66,941 3,514
$1,082,499 362,857
CUBRBiT LIABILITIES: Inter-Company: Anaconda Sales Company Taxes Accounts Payable Wages Payable
RET CUBBEBT ASSETS
OTHER ASSETS: Installment House and land sales and other accounts receivable, lass reserve
BALANCE - RET CUBBST ARP OTHER ASSETS
$ 465,491 164,287
1,583,817 227.571
$ 994,744 2,602,030
3,505,462
427,706 1,445,356
642,834 $9,618,152
2,441,166 $7,176,966
7,185 S7.1S4.151
PNYC00006728 N11102.06
T
IgTKHBATIOHAL SHBUIZBQ, D KSglHtSC OOMPA1TY mb c r a t o t m t o r d is e c t o b s * imfrTun . mr 23, ms SALKS, DELIVEBIBS 1HD PBODUCTIOff - ALL DSPlgntBTIg
SPELTER PBODUCTIOH: Copper - Lbs, - Tooelo: Custom Toll Ulamis Custom Toll
lead - Lhs. Tooele
SCRAP COPPER KBCBITCD AT PS83B tVHAT Custom Fabrication Toll
strain or
--Jana 1946 ~
s ix Month" ended Jana
30. 17*6
Six Month* ended June
-*> 1345
71,410 520.812 277*430
6,086,387
678,047 2.785.553
1.544,A56 6450,,203213*.229115
30,251,960
4,795.723 4,783,431
18,747,888
213.277 1.352.709
734,160 8,187.661
REFIHEBY PBODOCTIOK copper - Gross Less - Toll Scrap
lead - 16s.
Gold - os,,
SALES; Copper - 16s.. Tooele Miami Raritan
Lead - Lbs*
DELIYKSIBS: Copper - L6a. Tooele IgjAffTt Haritan
lead 16s.
SISC OXIDE: Production - L6a. Deliveries - Lba.
SLAB ZIEC Production - Lba* Deliveries - Lbs.
38,124,411 _1.352.709 54.771.702
5.540,633 439,843 2,526
120,513,510 3,615.899
HSlittfall
38,272,977 1.781,213 11,690
218,637,746 8,187.661
JSIb.456.68 5
34,360,232 4,881,296 42,048
** 5,837.382
342,842 104,462
250 - 447,554
37.333,935
4,300,000 1,700,000
273,512
35.708,884
100,000 , . ?50 \00.350 5.711.336
431,608 494,424
28,082 $54,114
31.196,768
4,795,923 1,762,370
273.512 6,831.805
24.021,577
1,956,800 1.538,250
9,089,000 10,101,000
8,874,570 8,262,510
226,200 264,670
561,800 1,574,362
1,404,494. 1,762,146
Per Cant Increase Decrease
24.1 61.4
53.5
44.5 Uo4 63.5 72.2
92.8 10.8
86.0 29.7 2.4 22.3 59.9
7.5
PNYCCQ006729
^\1102.07
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, New York 4. N Y
20, 1946.
. Lrmjmr, 1^**1 Dtptrtunt,
Anooondo Coppr klnin* Co..
Honrmoojr Building,
*
Butfc#, Montano.
Door Siri
AttaatMd 1. o rooord of tho Bo*l 0f Dirootorn
Mooting hold on July 25. lohd 7
look of quona.
__ wu odjouraod duo to
tWMJrmrj truly,*" v/,,.
! Moron Boorotory.
atm/TM
PNrC0C0C673C
N11102.08
!ff WICTIWBWplin^flR
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,1' 1 Ci'iS-___.
Aaaratary,
PNYC00006731 N11102.09