Document zzy48nxm4X8QJyK2VmM0696qm

N10106 PNYC00000698 INT2RHATI0NAL SXSLTINO- AND RSFINXSO COMPANY J PNYC0000069 To the Board of Directors, International Smelting end Refining Company, 25 Broadway, New York Dear Sirs: We have made a general audit of the books and accounts of INTERNATIONAL SMELTING AND REFINING COMPANY for the year ended December 31, 1941, and present herewith Balance Sheet and Income Account and Surplus Account, followed by various supporting-schedules. The accounts of the following wholly owned subsidiaries have not been consolidated with those of International Smelting and Refining Company in this report: International Building Association, whose operations are not an integral part of the operations of the parent company, and New Jersey Storage and Warehouse Company Raritan Copper Works, and Raritan Terminal and Transportation Company, which are not operating International Smelting and Refining Company is a 100 owned consoli dated subsidiary of Anaconda Copper Mining Company. This report, while complete and inclusive for International Smelting and Refining Company, is principally a supplementary amplification of the Report on Audit of Anaconda Copper Mining Company and Subsidiary Companies. It shows the portion of the consolidated accounts of Anaoonda Copper Mining Company relating to International Smelting and Beflnlag Company on the same basis and under the same classifications as shown in the consolidated report, bat in somewhat greater detail. Certain consolidating entries, however, applied in the consolidated report, have not been given effect to in this report but are shown on page 13. OPC^nwg Operations of International Smelting and Refining Company for the past J PNYCOO000700 ' t&rea years e^pare as follows: Gross sales and earnings Year 1939 Year 1940 Year 1941 $ 23,271,062.38 27,641,404.22 27,966,251.98 Gross profit on plant operations 1,622,330.85 Income from sundry investments 155.074.43 1.777,405.28 Interest paid to affiliates on notes and debentures Provision for Federal Income taxes - estimated Investments in and advances to sundry companies written off 750,933.34 130,000.OQ 960.033,34 Net Income (loss*) % 996,571,94 2,181,042.44 233.437.44 2,414.479.88 656,618.07 271,477.25 379.745.54 1.304.840,66 1,104,639.02 1,881,979.16 385,626,95 2.267.606.01 612,418.37 537,400.00 1.286.833.99 2.436.652.36 169,046.35* Gross profit on operations of the various plants and departments of the company and Income from sundry investments for the past three years and the respective investment therein at December 31, 1941 are shown In the following summary: PROFIT ON PLANT OPERATIONS sear 1939 Year 1940 Investment at Year 1941 December 31. 194 Tooele plant $ 170,980.77 175,950.65 382,924.14 $ Hi ami plant 19,30*. 1-4* 76,659-47 10,037.ai* Ophir Kill plant 82,707.52 48,043.75 - lead refinery 114,532.04* 152,247.81 150,472.95 line oxide department 49,590.31 71,992.00* 279,320.48* White lead department 23,859.19 15,218.40 67,435.97 Raritan refinery 1,,151,357.76 1,792,626.42 1,823,117.56 Raritan secondary metals department 321,386.68 62,223.03 53,001.81* Raritan electro sheat department 19,729.06 10,948.04 27,833.73 Not allocated 63.439.26* 80.883,93* 107,445.11* 5,102,568.01 1,298,425.84 - 919,132.31 772,758.01 645,699.29 0,074,614.45 1,923,473,09 285,422.30 107.373,04 Gross profit on plant operations - as above $ 1, 622,330.85 2,131,042.44 1,881,979.16 | 17,129,966.34 INCOME FROM SUNDRY INVESTMENTS Mountain City Copper Company, dividends I National Tunnel and Minea Company, interest Walker Mining Company, Interest Other investments and advances - net loss* 229,224.68 _ 12,545.54 86.695.79* Income from investnines - aa above $ 155,074.43 365,733,50 .. 16,795.49 149.091.55* 233,437.44 365,733,50 I 1,143,281,33 3,854.16 18,554.23 2.515.04* 1,386,248.08 657,391.97 2.337.160.46 385,828.85 il 5,524,081.84 PNYC00000701 f Details of the above figures are shown on the Balance Sheet and Income Account by departments on pages 11 and 12. 3 TWCOMg FROM AND IN7B3TM3BT IS SUBSIDIARY 1E3 The investment, including net advances, of International Smelting and Refining Company in its four small wholly owned subsidiaries amounted to |133>341.13 at December 31, 1941 and combined net Income of such companies amounted to $2,714.43 for the year 1941 (details page 19). No dividends were received during 1941. Investment, including noncurreat advances, in subsidiaries not wholly owned by the company amounted to 3 ,945,879.42 at December 31, L941 compared with $3,978,239.91 at December 31, 1940 as shown in the following table: Mountain City Copper Company National Tunnel and Mines Company (which became a subsidiary of Anaconda Copper Mining Company during 1941): Investment (Included In other security Investments at December 31, 1940} Advances Walker Mining Company: Investment (written off in 1941} Advances Subsidiaries whose properties are located in the Park Mining District (written off in 1941} Other subsidiaries: Investments Advances December 31, 1940 $ 1,143,281.33 December 31, 1941 1,143,281.33 882,049.50 797,479.10 405,606.87 702,495.93 47,327.18 915,693.92 470,554.16 657,391.97 702,495.93 56,462.31 $ 3,978,239.91 3,945,879.62 Market values based on market quotations of securities which are quoted on various stook exchanges amounted to 44,668,800.66 at December 31, 1941 (details paga 18) compared with 46,012,724.76 at Deoember 51, 1940. Tha company's share of the combined net Income of these subsidiaries amounted to 4210,726.16 for the year 1941 as compared with 4436,494.29 for the year 1940. Dividends of. 4365,733.50 ware received from Mountain City Copper Company In both 1940 and 1941. ! P^C00000 702 ^TATBfigNT OF FUNDS RJCElYgD AND DISBURSED 4 funds were made available to the company during the year as follows* Operating profit, before deducts non-caeh items and interest paid on debentures and notea payable to Anaconda Copper Mining Company (details belor] $ 2,574,906.99 Decrease in inventories (details page 5) 2,041,204.63 Increase in current liabilities and reserve for workmen's compensation 277,546.13 Fixed assets disposed of 65,522,034,979,17 funds were disbursed as follows: Decrease in notes payable to Anaconda Copper Mining Company 2,250,000.00 Fixed assets purchased (details below) 950,256.01 Interest paid on debentures and notes payable 612,416.37 Increase in deferred items, principally Copper Canyon development 559,740.75 Advances to subsidiaries and sundry mining companies - net (details belowj 236,449.46 Increase in current accounts receivable 254,179.96 4.915.052.57 And there was an increase in cash of Operating profit, before deducting non-cash items and interest paid on debentures and notes payable to Anaconda Copper Mining Company 64,127.21 Set Loss*, per Income Account - page 10 Add back charges to income not requiring funds: Depreciation - on deliveries $ 765,937.05 - automotive equipment written off 1,451.18 Lass on disposal or dismantlement of fixed assets: Buildings and machinery | 22,497.18 Lands, principally at Akron 25,266.93 Securities sold 9.548.66 57,312.77 Investments in and advances to subsidiaries written off - page 37 1,266,833.99 Add back interest paid on debentures and notes payable to Anaconda Copper Mining Company 612 . 416.57 169,046.35* 2,743,953,34 # 2,574,906.99 EXPBKDITUBeS ?QR FIXED ASSETS Buildings and machinery: Tooele slag treatment plant Raritan refinery Other plants Mines, mining claims and lands, Tooele As above * 492,676.60 205,681.60 161.954.51 860,312.91 89.943.10 * 950,256,01 d ic r sas z m ad van c es t o s o bs id iah u s an d SUNDRY MINING COMPANIES - N2T Advances to National Tunnel and Mines Company t Decrease* in advances to Walker Mining Company Advances to other subsidiaries and sundry mining companies - net Increase - as above * 400 ,554.16 140,087.13* 27.962.45 288,449.46 PNYC00QQ0703 r pgRSASX IN INTgRTORIB Metals and manufactured products - finished (details page 24) - in process Supplies (increase*) Decrease - per page 4 5 # 2,390,858.70 45,860.37 39S.514.44* | 2,041,204.63 VTNAWCIAL Summarized, the changes in financial condition during the as follows: At December 31, 1940 At December 31, 1941 Increase or decrease* in investment Fixed assets, less reserves applicable thereto Deferred charges Current and other assets ~ net, * 15,263,282.53 65,222.25 except notes payable to Anaconda Copper Mining Company 9,760.316.79 14,357,295.73 624,971.00 7.729.495.50 925,986.80* 559,748.75 2.030.821.29* Reserves for workmen's compeasation insurance Equity of Anaconda Copper Mining Company 25,100,821.57 35.727,04 * 25,073,094.53 22,711,782.23 57.714.05 22,654 .,046.18 2,397,059.34* 21.967.01* 2,419,046.35* The equity of Anaoonda Copper Mining Company at December 31, 1941 is represented by; Capital atook Debentures Rotes Deficit* $ 12,262,500.00 8,000,000.00 2,500,000.00 106.451,82* As above t 22,654,046.18 The decrease in such equity during the year 1941 is the net loss of the year * 169,046.35 and repayment of notes 2.250.000.CO As above * 2,419,046.35 Changes in current position were as follows December 31 1940 December 31 1941 Increase or decrease* Current assets Current liabilities 11,045,932.63 9,251,960.66 1,793,951.97* 1.450.808.91 1.706.368.03 255,559.12 # 9,595,123.72 7,545,612.63 2,049,511.09* Current ratio 7.6 to 1 5.4 to 1 5 PNYC00000 70/, j|tYpIBUTIQH oy BALANCE 5B2ST AMD IKC01C5 ACCOUNT TO DgPABTMgTTS 6 The detail schedules which support the Balance Sheet and Income Accoun 6y departments (pages 11 and 12) are presented in ten divisions, the eight prin cipal operating departments: 1. Tooele plant, 2. Miami plant, 3. lead refinery, 4. Zinc oxide department, 5. White lead department, 6. Baritan refinery, ?. Baritan secondary metals department.. S. Raritan electro-sheet department, and a ninth division, 9. Investments and advances, which Includes the activities of the company other than the principal .smelting, refining and manufacturing operations, and a tenth division, 10. Items not allocated to departments. In making this rearrangement, the accounts of the company as shown on its various ledgers have been redistributed and allocated to the departments to which they apply, except for a few items for which there is no exact basis for allocation and which are shown separately in the last division mentioned above. Details of accounts which appear in this division are shown on page 39. Land at Saat Chicago, and land, buildings and machinery, and reserve for depreciation at Perth Amboy have been allocated among the various depart ments on a basis believed to be approximately correct. 3C0P1 OP AtTPIT We have made a general audit of the books and records of International 3meltlng and Refining Company and its subsidiary corporations for the calendar year ended December 31, 1941. In connection with our audit we examined or tested the accounting records of the company and its subsidiaries and other supporting evidence and made e general review of the accounting methods, in cluding the system of internal cheok and control and of the operating and income accounts for the year, bat we did not make a detailed audit of the tran sactions except in the oase of Miami plant, which is not examined by the company's internal auditors. la the case of all other companies and departments we satisfied our selves that International Smelting and Refining Company and all subsidiary a4*paai*s were included la the soope of the work of the internal auditors of 5 PNYC00000705 7 #e examined, into the sufficiency of the internal audit and examined toe reports of the internal auditors. Investments, securities, cash, notea receivable and payable, deben tures and capital stock have been verified by inspection, certificate or cor respondence and found la order. Accounts receivable were examined in detail and those considered bad or doubtful have been written off or have been provided for in reserve. Accounts receivable, where these are of material amount, were tested by selecting certain i : accounts for confirmation by direct communication with the debtors or, where j possible, by direct comparison with the books and records of the debtors. The company's internal auditors have also verified the accounts receivable of certain departments by direct communication with the debtors and, while such confirmation by internal auditors oanaot be substituted for a similar procedure by the company's independent auditors, it has been given full consideration in determining the nature and extent of our verification of accounts receivable. Certificates of responsible officials have been received certifying to the correctness of quantities, descriptions and ownership of Inventories and we have made testa of the clerioal aoouraoy of the inventories. In accordance with what is now generally agreed to be accepted audit ing procedure, our audit ineladed physical tests of inventories. Inventories at all plants are not tested nor is a complete count made of Inventories at any one plant. Inventories are not all tested at the close of the calendar year and the physical tests are in no way intended a3 a substitute for the taking of physical inventories by company employees. The purpose is to establish the existence of a proper system for taking and recording physical inventories and to satisfy ourselves that the systems are operating effectively and as planned. In the course of this work, a very substantial part (measured in money value) of the physical inventories is actually inspected by ua. While this inspection is not our primary evidence of the exiatenoe and value of the inventories which oust lie in the records of the company, it is of great value aa a confirmation of the company's records and representations. Of stocks of metals and products held for the company or Its subsidiaries by others or held by the company for the accounts of others a substantial part has been verified by direct communi cation. It is the general practice of the company's internal auditors to make } p**cooOOQ 706 f' I physical test3 Tram time to time ot inventories of supplies and, while these testa cannot take tlie place of similar teats by Independent auditors, they are | given full consideration in determining tlie nature and extent of the testa made by us. We received during the year the usual courteay from the officers and staff throughout the company. Respectfully submitted, Certified Public Accountants Hew York, November 28, 1942 f PNYC00000707 INTERNATIONAL suvr COHrARATT DSC 2KB Page FIXED ASSETS: ASSETS Mines and mining claims and lands for metal producing and manufacturing plants Buildings and machinery at reduction works, refineries and manufacturing plants Less reserve for depreciation Patents Investments: 1? Securities of subsidiaries - not wholly owned 19 - wholly owned 20 Other security investments Indebtedness of subsidiaries - not current: la Not wholly owned 19 Wholly owned Dec* $ 25,977,61 17.361.flf DEFERRED CHARGES: 21 Mine development 22 Prepaid expenses 23 Doforrod axpensos CURR2NT AND OTHER ASSETS: Current assets: Supplies on hand Metals and manufactured products - in process 24 - finished Accounts and notes roceivablo: 25 Trade, loss roaorra 2d Affiliates IS Subsidiaries - not wholly cwnod - current 27 Cash Other as3ota: 28 Advances to sundry mining companies, including advances on ores, loss rosorvo Advances to Tooolo Valloy Railway Company 17,97e 17.242 902,554 2,059,586 6,397,722 1,053,735 2Q1.712 131,026 19.595 60 ,293 LC4.90C LIABILITIES CAPITAL STOCK - issuod and outstanding - 163,500 shares of tho par valuo of $75,00 oech 29 RESERVE FOR WORKMEN'S COMPENSATION INSURANCE CURRENT LIABILITIES: 30 Accounts payable - trado Wages payablo 31 Accrued taxes 32 Other accruod liabilities 26 Indebtedness - te affiliatos - to subsidiaries - not wholly cwnod 19 - wholly cwnod Saployaos* dopcsita 33 DEBENTURES AND NOTES PAYABLE TO ANACONDA COPPER MINING COMPANY 13 SURPLUS (doficit*) 902,134. 95,373. 352,660. 11,917. 48,292. 13,719. 19,715.. 6.995.: 9 PNYC00000708 NTEHHATIOKAI, s ms l t in o a n d REFINING c o mp h n y C0MPARAT1 VS BAIANC 7 PICBTBE8 71. 1940 ANP 1941 December 31, mo December * 1,102,805.32 25,977,619.84 17.361.601.01 8,616,016.83 1.00 2,765,473.03 43,000.00 1,423,065.48 1,212,766 *68 120.151.99 15,283,282.53 17,970.96 47.243.29 65,222.25 $ 1,151,491.58 $ 26,586,504.44 17.977.703.16 0,608,801.26 1.00 2,761,471.18 43,000.00 496,890.36 1,184,408.44 111.231.89 14,357,295.73 548,526.51 39,695.66 36.748.83 624,971,00 Increase or decrease# 606,604.60 616,102.15 # 46,666.26 7,217.55# 548,526.51 21,716.70 10.494.46# 4,001.65# 926,175.12# 28,356.44# 8,920.10# 925,986.80# 559,748.75 902,554.99 2,059,586.37 6,397,722.07 1,290,069.43 2,013,726.00 3,995,908.86 395,514.44 45,860.37# 2,401,813.21# 1,053,735.19 281,712.04 131,026.53 219.59S.44 11,045,932.63 1,259,988.83 326,483.50 74,081.39 283.722.65 9,251,980.66 206,253.64 44,771.46 56,945.14# 64.127.21 1,793,951.97# 3 60,293.07 104.900.00 165.193.07 86,862.87 95.000.00 183.882.87 28,589.80 9.900.00# 18.689.80 ? 26,559,630.45 5 24,418,130.26 0 2,141,500.22# PANT 0 12,262,500.00 35,727.04 902,134.22 95,373.37 352,660.97 11,917.40 48,292.31 13,719.82 19,715.18 6.995.64 1.450.808.91 12,750,000.00 60.594.53 3 26,559,630.46 V V 12,262,500.00 57,714.05 21,987.01 810,716.10 122,420.04 662,177.22 11,606.13 38,945.50 30,777.00 20,390.76 9.334.48 1,706,368.03 10,500,000.00 108.451.82' 24*416,130.26 V 91,418.12# 27,046.67 309,516.25 311.27# 9,346.81# 17,057.98 675.58 2,338.84 255,559.12 2,250,000.00# 169.046.35# - 3 2^41,500.22# J PNYC00000109 fa001 CM . o0> T0? u o CnJ O* e o> C- CD to rt mwn ntmo S3 f00a f>a >- e w <c co- <<Dn *. o, fas ? a *j ffoaa. oa ^tCj a 3 >,0 ^Sa a fa s 0c'-*lo0cT<h3ouoo..* foa*< *> * 3 S <a H! -* n a o f9a *0 U0 c on > xfa a to ff S3 5Co Hno -C<fa0 -o x a*ch o u *foltoo}< 53 to &fpa *4qHJ mmf0a ao. = o -o 00-4 *f3a 0foa *-o w '2`S fan g<o n * oo-Hc3a O *4 C *H * * 4o4 i qa *4 co a *4 a, fa o 4S4 CofaOoS Oo.O3aH 25 a *> IS PNYC00000710 BALANCE SHEET - ASSETS rtnes and mining claims and lands Buildings end machinery gfiaerve for depreciation patents ^vestments: Securities of subsidiaries: Not wholly owned Wholly owned Other security Investments indebtedness of subsidiaries - not current: Not wholly owned Wholly owned ^ne development prepaid expenses Referred expenses Supplies on hand Ratals and manufactured products: ` Id process : Finished `Accounts and notes receivable: I Trade, less reserve j Affiliates ; Subsidiaries not wholly owned - current . :ash Advances to sundry mining companies, including advances on ores, less reserve Advances to Tooele Valley Railway Company LIABILITIES Seserve for workmen*a compensation Insurance ^counts payable - trade Viges payable .Accrued taxes Jtber accrued liabilities Indebtedness - to affiliates - to subsidiaries - not wholly owned - wholly owned ^ployees* deposits Set Investment Tooele olaat Miami clant Lead refinery Zinc oxide department. i 367,263-43 7,558,3*7.29 5,879,381.4** 66,666.60 3,103,550.21 3,103,550.21. 130,665*27 1,143,588.46 747,518-49* 1.00 22,073.16 615,358.11 *06,718.79* 16,105.40 1,702.03 411,137*77 1,469,579.08 1,233,951.66 101,776.80 98*31 74,081.39 128,096.02 59,808.66 160.97 110,903.04 *32,405.02 221,962.49 511,773.27 12,315.87 2,148.58 127,848.9* 56,149.75 373,799*92 29,841.99 700.00 49,845.86 55,592.15 251,349.47 159,598.05 14,317.19 25,000.00 5,5*2,566.40 1,356,187.26 1,130,842.63 772,798.01 6 19,093.77 290,646.42 56,630.11 21,032.28 13,848.53 29,412.80 9.334.48 *39,998-39 33.636.43 8,825.44 15,251.65 *7.90 57,761.42 5,102,568.01 1.298,425.84 23,333-96 148,796.90 26,936.50 11,470.12 1,172-84 40.00 211,710-32 40.00 919,132.31 772,758.01 64 l \ - BY DBFARTHBTTra u dwassss^ 5^:800.52* Harttan refinery 343,890.04 10,953,105.24 6,327,782.29* Raritan secondary metals department Raritan electro-sheet department 65.86i.j1 4,349.45 2,063,286.29 390,962.58 891,254.49* 103,697.13* Items noe Investments allocated to and advances - details departments - details page 38 P&gg 39 137,478.52 2,547.81 .1 nations Total - ssss-i 1,151,491.58 26,586,504.44 17,977,703.16* ' 1.00 60,658.28 248,715-38 85,158.64 645,754.29 18,958.01 18,000.00 399.414,96 988,449.95 32,486.12 14,028.78 27,061.67 13,985.51 672,347.25 6,*67.612.48 1,924,225-77 5,332.76 296,947.66 2,761,471.18 43,000.00 496,890.36 1,184,408.44 111.231.89 548,526.51 2,322.70 2,361.29 138,260.58 7,608.65 1,657.61 29,074.21 95.000.00 5,561,839.95 2,761,471.18 43,000.00 496,890.36 1,184,408.44 111,231.89 548,526.51 39,695.66 36,748.83 1,298,069.43 2,013,726.00 3,995,908.86 331.745.31 314.947.32 (, 590-91* 75,274.09 1,259,988.83 326,483.50 74,081.39 283,722.65 88,882.87 95.000.00 721,966.72 1,590.91* 24,418,130.26 f------------ 35-00 35.00 645,699.29 12,925.85 319,948.22 24,308.07 32,702.57 80.77 3,032.55 392,998.03 752.68 11,525.36 752.68 11,525.36 2,360.47 5,640.73 5,719.92 2,081.23 1,365.00 20,390,76 37,758.11 11,019.72 579,639.37 23,434.59 2,590.91* 614,093-66 2,590.91* 57,714.05 810,716.10 122,420.04 662,177.22 11,606.13 38,945.50 30,777.80 20,390.76 9.334.48 1,764,082.08 6,074,614.45 1,923,473.09 285,422.30 5,524,081.84 107.873.04 22,654,048.18 Capital stock Deficit* Debentures and notes payable to Anaconda Copper Mining Company As above $ 12.26S,500.00 108.im.82 12,154,0*8.18 10.600.000.00 * 22,654,068.18 41 pNrcoooQo7l2 mean -n Tooele plant Miami plant Lead refinery Zinc oxide department White le Aepartme Sales of copper lead sliver gold miscellaneous metals zinc oxide vhlte lead electro-sheet copper residue, ores. etc. Tolls * 1,390,754.70 3,466,638-73 3,036,475.56 2,172,228,18 55,981.68 796,390.45 245,048.91 175,451.67 247,524.80 1,068,011.91 201,656.09 2,265,909.27 1,511,395 1,127,913.69 5,967.67 1.094.373.07 1.266.257.60- 474.lid.42 144,733.79 20,535.00 12.344.36S.61 2.483.648.63 1,997.279.89 2.431.178.06 l .511.395 Cost of sales Interdepartment 11,118,383.11 1,640,958.77 1,741,311.37 2,611,071.92 774.696.01 788.188.47 61,723.36 3.857.34 586,913 816.213 n.893.080.02 2.429.147.24 1.803.034.73 2.614.929.26 i .402.126 Income or loss* Provision for deprecia tion and loss (profit*) on dis posal or dismantle ment of fixed assets 451,285.59 188.110.51 54,501.39 194,245.16 .183,751.20. 109,269 66.348.00 44.185.80 65.923.23 41.869. Income or loss* from operations 263.175.08 11.846,61*___ 150.059.36 249.674.43" 67.400. Other income: Dividend from Mountain City Copper Company Other dividends and interest (paid*) - net Miscellaneous Income or loss* 250.94* 250.94* 80.80 1.728.00 1.808.80 413.59 415-59 19.69 29.665.72* 29.646.03" 35. __ Income or loss* 262.924.14 10,0-57.81* ISO. 472.95 279.320.46* 67.435. Interest on debentures and notes payable to Anaconda Copper Mining Company Investments and advances written off United States income and profits taxes - estimated Het iaccoe or loss* $ 262,924.14 10,037-81* 150,472.95 279,320.46* 67,435.5 i P**C000007U 7MB mac pscaam 31. 1941 - s y pgPARmarre 12 Vhite lead (jnoartaent 1,511,395.62 Raritan refiner? Baritan secondary metals deDartment 50,965-04 2,299,990.44 Raritan electro- sheet denertment Investments and advancej pa*e 78 23,757.33 597,755-80 286,838.53 437,364.50 167,478.45 Items not allocated to Inter departments - department page 39 eliminations* Total ** ease in 287.98* 815,006.84* 4,538,312.65 2,899,156.69 4,373,293.71 3,147,091.74 17,040.07* 763,144,64 325.05* 2,265,584.22 2,121.36* 1,509,274.26 167,478.45 5.900.434.82 767.63 68,061.99* 1,211,320.79 1.664.125.08* 7.091 404 85 M J\O CJ\ ro 6.859.751.52 2.737.354.94 167.478.45 767.63 2.566.968.37 * 27.966.251 .Qfl 586,915.22 4,713,644.56 2,614,029.26 116,540.61 815.213.09_ 23.974.09 99.185.15 129.96 28,416.67 107,468.59 25,278,738.08 2.566.968.37* 1.402.126.31 4.737.618.65 2.713.214.41 iiSxgo.a,. 28.416.67 107.468.59 2.566.968.37* 25.278.738.08 109,269.31 2,122,132.87 24,140.53 50,807.88 27,649.04* 107,468.59* 2,687,513.90 41.869.12 ___ 313.952.60 67.400.19 1.808.180.27 77.142.34 92.974.15 12.071.52* 53.001.81* 27.833.73 ____ 15.577.52* 107.468.59* 3o8.4-U.275 1.879.079.67 35.78 .24 14.937.05___________________ ________ 35.J.8- 14.937.29 67.435.97 1.823.117.66 S3.001.6l* 27.frS3.7-j 365,733.50 38,003.26 2.5-52.39* 401.204.37 385.626.85 23-48 23.48 107.WS.1I*2.267.605.01 365,733-50 38,325-90 15.533.06* 388.526.34 1,286,833-99 612,418.37 537,400.00 1.286.833.99 1.149.818.37__________ 612,418.37 1,286,833.99 537.400.00 2.436.652.36 PNYC00000714 P**COC00071 VISES AND MINING CUTttft *r.-n nns 1.4 Balance December 31, 1940 j4uds for metal producing plants: Tooele plant | Miami plant Lead refinery Raritan refinery Raritan secondary metals departoent Investments and advances Rico 352,698.18 55,191.60 130,665.27 343,890,04 65,861.21 2.480.00 951,986.30 Additions 11,665.25 11,665.25 Deductions - see notes below Balance December 31, 1941 364,763.43 56,151.60 130,665.27 343,850.04 65,861.21 2.460.00 963,851.55 Lands for manufacturing plants: Zinc oxide department White lead department Raritan electrc-9heet department 60,322.51 13,243.90 4.349.45 78,415.86 38,749.3511) 38,749.35 22,073,13 13,243.90 4.349.45 39,666.51 Other lands: Tooele Miami 2,500.00 10.475.00 12,975.00 2,500.00 10.475.00 12,975.00 Total lands 1,043,377.16 11,865.25 38,749.35 1,016,493.06 Hines and mining claims: Investments and advances Tooele Miami 39,369.62 78,077.85 20.058.54 59,420.16 78,077.85 517.58(2] 1,989.91(3) 2,507.49 114,939.98 20.C5S.54 134,996.52 Per Balance Sheet - page 9 t 1,102.805.32 69,943.10 41,256.84 1,151,491.56 ROTS 1 - land at Akron, Ohio, sold 2 - timing claims la Mountain City district written off 3 - Royalties received from sales of ore mined by North lily Mining Company from property of International Smelting and Refining Company. p">-c0000<),u ) PNVC00000717 -MOTS 1 D e p re c ia tio n o f autom otive equipm ent v r lt t e n o ff. 2 - R e a llo c a tio n o f p la n t a t P e rth Amboy. PNYC00000718 (VICO CM CmMoCoD S090 OVO OCOcO lAvO H vo o o o m t0ar4O0C4M O0 KCT\VQO VCOO-VtIT*O*VCtO-OiJri-TfVil<OA\U*OH"\ * > 3Ca-j eao**3 - sc huc i 4 O (3 0^4*4 1H *44Ii-44 SXOaO 33^>S tosie^oo i I PNVC00000719 .1 oO>da M"u>D o So -a he ca 5? P^-O <3H and In ve stm e n t R e fin in g Company in Na which tdioi nf faelr sT unnel from k Mines Company in th is re p o rt Is a t th a t shown in the re p o rt on Anaconda th e amount shown Copper M in in g Co th a t the in ve stm e n t and C o n so lid a te d S u rp lu s have th e re been reduced by $136,307*00, th e amou M ining Company on d is s o lu tio n In 1937. T INVESTMENT IN AND INDEBTEDNESS GF SUBSIDIARIES NOT WHOLLY CWNED Investment - Indebtedness Page_ 17 not current Total ^uatain City Copper Company $ 1,143,281.33 .tional Tunnel &. Mines Company 915,693.92 jalker Mining Conpany ;ooet Coalition Lines Company 340,891.71 jureka Bullion Mining Company 187,923.49 fountain View Mining Company 63,806.23 jorth Lily Mining Company 66,527.76 Victor Consolidated Mining Company 18,306.52 Tankee Consolidated Mining Company 20.040.20 1,143,261.33 470,554.16 1,386,248.08 657,391.97 657,391.97 31,846.41 372,738.12 22,847.95 10,771.44 68,806.23 66,527,78 18,306.52 1.732.95 21.773.15 ISundry indirect sub sidiaries 2,761,471.18 1,184,373.44 3,945,844.62 35.00 35.00 Per Balance Sheet, December 31, 1941 - page 9 $ 2,761,471.18 1,184,408.44 3,945,879.62 Market quotations December 31, 1941 2,468,701.13 1,550,409.00 249,176.87 57,018.45 86,940.00 14,568.40 218,500.00 10,961.70 12.525.13 $ 4,668,800.68 Indebtedness not current National Tunnel & Mines Company Walker Mining Company Comet Coalition Mines Company Eureka Bullion Mining Company Park Konold Mines Corporation Park Nelson Mining .Company Park Premier Mining Company Tankee Consolidated Mining Company Sundry indirect subsidiaries December 31, December 21, Increase or 1940 1941 decrease* 797,479.10 26,617.67 20,709.51 112,294.47 29,062.90 226,603.23 470,554.16 657,391.97 31,846.41 22,847.95 470,554.16 140,087.13* 5,228.74 2,138.44 112,294.47* 29,062.90* 226,603.23* 1,732.95 35.00 1,732.95 35.00 1,212,766.88 1,184,406.44 28,358.44* CURRENT INDEBTEDNESS Mountain City Copper Company Mountain View Mining Company Tankee Consolidated Mining Company Sundry indirect subsidiaries 130,913.43 38.10 75.00 131,026.53 73,754.29 310.00 17.10 74,081.39 57,159.14* 310.00 38.10* 57.90* 56,945.14* PNYC00000720 0 UHC9 SS* * foa ii O fa 0 rtfl 5 *ao -> c*>a-qo Is C<CTTT\\<\0^-4r oO1-j4\C*Oh0NCVi .ClKTOM>CtTDf' a 9 0N 98. 3 3 a* s SL l 9S tfOa0oHa foa fa o0c -aa TT+caccts fa O a<-a js tcoMo. nao oaaq f<ja>aHi oa>f0a ae & m9q ooofa aq4waO5,*n0aO3coOsi nr* oe>**s< *ao aoo S<H S.8HO25 >*4o *0 0 a 0a 4o soaH. scOOoJ .sa9UaeNaOaafaf9Oa O S0 **J0 a > se >o S 565 J PNYCOOOOOm } p*rcooo.00?.22 s PNYC00000723 2o DETERRJ!^ grP^KSKR December 31, 1940 Tooele plant: Expenditures on acoount ot option to purchase stock of Copper Canyon Mining Company {class ified as Mine Develop ment at December 31, 1941) * 28,149,34 Prepaid rental 1,240,00 Advance on purchase contract 1,711.60 Sundry deferred expenses 320.10 31,427.04 Zinc oxide department - club memberships Raritan refinery - Perth Amboy General Hospital building fund Raritan secondary metals depart ment - blast furnace slag treatment expense Investments and advances - Yampa Lease incorporated 700.00 -15,116.25 -- Per Balance Sheet t 47,243.29 December 31, 1941 761.81 940.22 1,702.03 700.00 18,000.00 13,985.51 2,361.29 36,748.83 28,149.34* 1,240.00* 949.79* 614.12 29,725.01* -- 18,000.00 1,130.74* 2,361.29 10,494.46* PSYcooo 0?^ METALS AND Tooele plant Miami plant Lead refinerv Zinc oxide White 1 department dgpp.rtni Copper Zinc Lead Silver Gold Miscellaneous metals Manufactured products: Zinc oxide White lead Electro-3heet copper Prepaid billet cost Prepaid freight Less reserves for freight, refining, etc. Per Balance Sheet page 9 80,139.89 217,071-32 431,274.88 495,820.53 326,168.19 17,561.70 56,622.51 48,044.83 314,759.50 46,520.26 2,417.91 9,814.61 12,193 237,189.89. 225,555 __________ 9.7.56. 1,350,974.75 311,636.46 117.02-5.09 89.673.97 373,799-92 4.344.97 10.966 251,349.47 2*8,715 1,233,951.66 221,962.49 373,799-92 251,349.47 2*3,71: Decrease in depreciation included in above Inventories - details page 16 Per page 5 POUNDS Copper Zinc Lead 685,352 9,402,112 2,155,705 805,109 198,596 260, CENTS PER POUND Copper Zinc Lead $.872 4.468 10.070 7.033 4.942 4. SILVER - total for all departments - covered by affidavits - not covered by affidavits As above GOLD * total for all deportments - as above PNYC00000725 METALS AND MANTJFACTUBED PRODUCTS - FINISHED Zinc oxide White lead X department denertment Raritan refiner? Raritan secondary metals department Raritan electro sheet December 61, department 1941 Total December 31, 1940 Decrease or increase* 9,814.61 531,341.89 592,559.09 -51 12,193.04 50 149,223-93 91 329,794.49 4,192.26 166,423.53 237,139.89 225,555-82 ____jfx344.97 -92 251,349.47 10.966.50 248,715-36 49,381.96 1,063,934.53 758,982.62 76.434.58 86.638.37 5,332.76 5,332.76 1,421,112.19 9,814.61 500,090.43 1,007,848.84 704,900.85 188,177.49 237,189.89 225,555-82 5,332.76 49,381.96 .15,321-03 4,364,725.87 368.317.01 $ 2,878,551.70 43,646.74 842,163.49 1,193,922.66 968.486.66 387.328.67 * 1,457,439.51 33,832.13 342,073.06 186,073.82 263,585.81 199,151.18 230,326.34 253,981.80 9,105.71 63,047.07 17.356.93 6,86355* 28,425.98 3,772.95 13,665.11 2.035.90 6,887,917.77 2,523,191-90 490.195.70 121.378.69 52 251,349.47 248,715-36 938,4-49.95 672,347.25 5,332.76 3,995,908.66 i 6,397,722.07 2,401,813.21 6,404,773 6,274,642 198,596 109 260,508 053 4.942 4.680 8.296 8.063 Ounces 816,209.30 1.232.074.74 2,048,284.04 20,664.651 Price 71.0238^ IiLI5___ 49.2045i $ 34.114 ___ 10.954.51 $ 2,390,858.70 15,520,972 198,596 10,467,729 29,868,007 906,098 17,952,543 14,347,035 707,502 7,484,814 9.156 4.942 4.777 AnO'in t as above t 579,702.36 428.145.98 $ 1,007,848.84 t 704,900.85 9.638 4.817 4.691 PNYC00000726 * T ACCOUNTS AND NQTB3 Tooele plant for toll3 and for metals and manufactured products: Inspiration Consolidated Copper Company * itiami Copper Company United States Assay Office Mines Products Company Sundry customers 75.399.83 75 j399.33 Advances to National Tunnal and Mines Company (affiliate in 1941) Sundry debtors 26,376.97 101,776.80 Less reserve for doubtful notes and accounts Miami plant Lead refinery 111,164.27 391,133.06 502,317.33 9.455.94. 29 .841.99 511,773.27 29,641.95 21nc o> Parts 139 . * R. 155,558. 135,5;6.' 30,1*7 . Per Balance Sheet - p&e 9 % 101,776.60 511,773.27 29,641.59 129,420.4 J PNYC0000072 1JTS AND NOTES RECEIVABLE - TRADE. T.ass RESISTS Lead refinerr Zinc oxide deoartment White lead deoartment Raritan refinerr Investments and advances Items not allocated to deoartments Total December 31, 1941 25 Total December 31, 1940 159.598.05 159,596,05 128.322.45 128,322.45 30.961.98 30,961.98 331,559.41 111,184.27 391,133.06 331,559,41 $ 331,559.41 394.282.31 1,228,159.05 51,906.67 297,246.86 -- '175,691.50 443.923.53 96c,766.36 29.S41.99 29,841.99 159,598.05 128,322.45 1.524.14 32,486.12 7.608.65 7,606.65 165.90 331,745.31 74.993.59 1,303,152.64 70,000.00 54.299.74 1,093,068.70 30,177.61 12,966.20 43,163.81 39,333.51 29,841.99 129,420.44 115,336.25 32,486.12 7,608.65 331,745.31 1,259,966.63 s PNYC00000728 ACCOUNTS WITH AFFILIATES 26 counts receivable from* me American. Brass Company Anaconda Copper Mining Company Anaconda Sales Company Anaconda Wire and Cable Company me Cananea Consolidated Copper Company, S. A. Chile Exploration Company Net off accounts payable to: The American Brass Company Anaconda Wire and Cable Company Anaconda Copper Mining Company Per Balance Sheet - page 9 December 31, December 31, Increase 1940 1941 decrease* # 2,277.12 248,446.30 16,178.27 15.405.31 282,307.00 650.30 1,800.22 314,947.32 11,578.26 98.31 329,074.41 1,626.82* 1,800.22 66,501.02 4,600.01* 96.31 15.405.31* 46,767.41 532.35 62.61 594.96 790.69 1.800.22 2,590.91 53-.55* 726.00 1.8C0-22 1,995-95 281,712.04 326,483.50 44,771.46 Accounts payable to: The American Brass Company Anaconda Copper Mining Company Anaconda Wire and Cable Company Chile Steamship Company Incorporated Montana Hardware Company Tooele Talley Railway Company Net off accounts receivable, as above Per Balance Sheet - page 9 $ 532.35 21,098.90 62.81 7,104.23 8,305.09 11.784.09 48,887.27 .594.96 $ 46,292.31 21,098.90 790,69 2,335.69 5,095.28 12.215.65 41,536.41 2,590.91 38,945.50 532.35* 728,OS 4,768.54* 3,209.81* 431.76 7,350.86* 1,995.95 9,346.81* i PNVC00000729 Cash 1c banks: Chasa National Bank, New York Continental National Bank and Trust Company of Salt Lake City, Ctah First National Bank of Salt Lake City. Tooele, tftah Battle Mountain State Bank, Battle Mountain. Nevada Valley National Bank, Globe, Arizona First National Bank in East Chicago, Indiana Firestone Park Trust and Savings Bank, Akron Ohio First Bank and Trust Company, Perth Amboy New Jersey Leas outstanding drafts on New York office, deposited in banka Petty cash Per Balance Sheet - page 9 27 } PNYC00000730 1 28 ADVANCES TO SUNDRY MINING COMPANIES, INCLUDING ADVANCES CN CP.E3 Ore purchase accounts: Good Good but slow Fair but slow December 31, 1940 t 7,185.58 1,652.53 42.552.82 51,390.93 Other notes and accounts: Afterthought Mines Corporation Copper Canyon Mining Company New Quincy Mining Company Panther Mines Company Priace Consolidated Mining Company Sundry - Tooele plant * Copper Canyon operations 4,978.54 29,854,31 9,759,19 35,50 7,701,79 52,358.33 Less reserve ior doubtful accounts 103,749.26 43,456.19 Far Balance Sheet - page 9 $ 80,293.07 December 31, 1941 decrease* 23,131.40 - 40.123.88 63,255.28 15,945.82 1,652.53* 2.428.94* 11,864.35 6,440.70 8,353.83 29,668.40 9,579.73 13.872.72 5,594.42 406.68 74,916.76 138,172.04 49,269.17 88,882.87 1,452.24 8,353.63 185.91* 13,837,22 1,107,37* 406.88 22,558,43 34,422."8 5,832.98 28,589.60 Investments and advances: Prince Consolidated Mining Company } Afterthought Mines Corporation Copper Canyon operations . Copper Canyon Mining Company - Sundry accounts 35.50 4,978.54 5,014,04 Tooele plant: Ore purohase accounts New Quincy Mining Company Panther Mines Company Sundry Accounts Less reserve for doubtful accounts 51,390,93 29,854.31 9,788.19 7.701.79 98,735.22 43.456.19 55,279,03 60,293.07 13,872.72 6,440.78 8,353.83 406.88 29,074.21 13,837.22 1,462.24 8,353.83 406.88 24,060.17 63,255.28 29,668.40 9,579.73 6.594.42 109,097.83 49.289.17 59,808.66 88,882.67 11,864,35 185.91* 206.46* 1.107.37* 10,362.61 5.832.96 4,529.63 26,589,60 i p^cooooom RESER7E FOR WORKMEN'S COMPENSATION INSURANCE Balance December 31, 1940 Additions - details below Deductions - compensation paid, Transfer*- medical Balance debit* and hospital December 31, or credit exoaoses. etc. 1941 fooele plant Opdlr Hill Lead refinery hlnc oxide department [mite lead ' department Raritan refinery Investments and advances | 4,062.85 2,360.47 12,279.79 3,913.49 3,140.91 4,949.53 46,5 96.01 2,239.65 1,378.57 686.45 21,038.32 2,360.47* 2,360.47 31,585.09 3,566.08 1,503.41 735.41 13,062.00 19,093.77 10,953.36 9,288.65 3,091.95 12,925.85 2,360.47 ?er Balance Sheet page 9 t 35,729.0. 72,439.00 __ 50,451.99 57,714.05 details of additions - year 1941 Tooele plant Lead refinery Zinc oxide department *b.ite lead department Raritan refinery PNtC00000732 J PNYC00000733 ;  <W0 Uo.c3 Oflc S Oo 4OJ *t-, S3 S cU<cd *44i e H <0 +aJ o s S3 s Ok A +t4 S| *3 8. os o / P,",cc, 3< 32 pNYC00000735 PffifflTORZS AND NOTS3 PAYABLE TO AfUCONPA COPPER MINING COttPANT plance December 31, 1940 ayments 1941: 15 year debentures due 1950 #8,000,000.00 Demand note, interest at 2.250,000.00 Time note, interest at 1-3/4% 2.500.000.00 Total 12 750.COO.00 February 28, 1941 April 7, 1541 Hay 19, 1941 July 23, 1541 August 31, 1941 Total payments 1941 1 Per Balance Sheet, December 31, 1941 page 9 500,000.00 500,000.00 500,000.00 250,000.00 500.000.00 2.250.000.00 500,000.00 500,000.00 500,000.00 250,000.00 500.000.00 2 250.000.00 $8,000,000.00 2,250,000.00 250,000.00 10 500,000.00 Interest accrued and raid Balance December 31, 1940 $ SI,098.90 Aoorued 1941, per Xnoome Aooount - page 10 480.000.00 501,098.90 Paid 1941 480.000.00 Balance December 31, 1941 $ 21,098.90 __ 112.500.00 112,500.00 112.500.00 -- 19.918.37 19,918.37 19.918.37 -- 21,098.90 512.418.37 633,517.27 612.418.37 21,098.90 34 CTKSR DIVIDENDS AND INTSBKST Interest received: On advances: To subsidiaries not wholly owned: Comet Coalition Mines Company Surefca Bullion Mining Company National Tunnel k. Mines Company Yankee Consolidated Mining Company Walker Mining Company Tooele Talley Railway Company International Building Association On refund of capital stock tax Miscellaneous - net Dividends reoelved; Park-Utah Consolidated Mines Company Miscellaneous Year 1040 # 1,767.28 1,166.09 2,955.37 16.795.49 19,750.86 7,268.21 4.797.57 31,836.64 1,692.10 194t 50 33,723.24 6,980.00 1.88 Year 1941 1,704.73 1,253.44 3,854.16 17.95 6,830.28 18.554.23 25,384.51 2,674.05 2.837.42 30,895.98 446.04 31,344.02 3,980 .-00 1.88 Per Income account - page 10 $ 40,705.12 t 3S,325. 90 5 pNrC0000073 7 xracr.T.T.AKZous INeons o r l o s s ' ^5*1 plant - rents jpnir Hill plant - rents 'inc oxide department; * toss on sale of land - Akron, Ohio {sales price 314,000.) toss on securities sold - details below1 j_a__r_i_ta__a_refinery: DRoe^c/^orrHd storage rents Copper storage rents Discount on prepayment of taxes Loading ana unloading llgnters Investments and advances: Park-Otah Consolidated Mines Company reimbursement for dividends of pj lor years not received by the company Outside property income and expense >oele (net expense*) Ophir Hill - rents Loss on securities - details below Per Income Account - page 10 Year 1940 Year 1941 t 1.72S.00 1.728.00 265.00 _ 24,749.35* 4.916.37* 29.665.72* 1,350.00 87,532.32 3,008,08 15.763.44 107,653.64 1,350:00 5,323.94 2,976.-95 5.286.15 14.937.05 1,200,00 ' 1,300.00 9.97* 579.90 220,00 4.632,29* 1.190.03 2,532.39* t 110,856.87 15.533.06* Details of loss on securities sold Cost oaa 20 Zinc oxide department: Delaware Floor Products Company: Second-mortgage bonds Common stock National Fireproofing Company - common stock - debentures Northwestern Terra Cotta Corporation - common stock 2,600.00 2,580.50 65.01 200.00 367 ,78 As above 5,813.29 Sales orice 798.20 50.43 ,99 40,65 6.65 896.92 Inveetments and advanees: Viscosity Oil Company - ccouo Condor Gold Mining Company: Investment written off As above 35.62 4.632.29 '4,667.91 35.62 35.62 10,481.20 Lossaa above 1,801.80 2,530.07 64.02 159,35 361.13 4,916.37 __ 4.632.29 4,632.29 P e r Xno one A oeount, y e a r 1941 - page 10 PNYC00000739 INVESTMENTS IN AND ADVANCES TO CERTAIN SUBSIDIARY min im; C 01?ANIIS ViRITISN OF?. PPSP.'TTONS TLAVINO 3E3N DISCONTINUED parfc Konold Mines Corporation park Nelson Mining Company park Pramiar Mining Company Walker Mining Company Per Income Account, year 1941 page 10 Investment Advances i 37,644,27 112,415,82 1.00 29,182,21 1..00 225,540,19 882 .049-50 Total 150,060-09 29,103.21 225,541,19 882,049,50 I 919,595-*? 367,138 22 1,286,833.99 } PNYC00000740 Securities of subsidiaries - not wholly owned - wholly owned Other security investments Indebtedness of subsidiaries - not current - not wholly owned - wholly owned Mine development Prepaid expenses Deferred expenses Supplies on hand Accounts receivable - trade Cash Advances to sundry mining companies, including advances on ores, less reserve Advances to Tooele Valley Railway Company ^ 43,000.00 ' 111,231.69 ___________ _____ 154,231.89 l. Reserve for workmen's compensation insurance Accounts payable - trade Wages payable Accrued taxes Indebtedness to subsidiaries - not wholly owned - wholly owned 20,390.76 20,290.76 Ifet investment $ 133,641.13 INCOME ACCOUNT ITSKD Sales Cost of sales Provision for depreciation and loss (profit*) on disposal or dismantlement of fired assets Income or loss* from operations Other income: Dividend from Mountain City Copper Company Other dividends and Interest Miscellaneous income or loss* Investments and advances written off 2,637.42 PNVC0000074I DETAILS OF INVESTMENTS A.WD ADVANCES Mountain Wholly owned City Copper subsidiaries Company i National Tunnel it Mines Company Walker Mining Company Other Parfc-utah FTlc subsidiaries Consolidated Consol not wholly Mines Mir owned Company r owned ned rent - not wholly owned - wholly owned 1,143,281,33 43,000.00 111,231.89 915,693.92 470,554.16 657,391.97 702,495.93 56,462.31 441,157.50 47,12 luding advances on ores 7 13,97 154,231.89 1,143,281.33 1,386,248.08 657,391.97 758,956.24 441,137.50 01,OC ance 3,000.00 y owned ned 20.590.76 20.390.76 1,365.00 ____ ______________________ 4,365.00 $ 133,641.13 1,143,281.33 1,386,248.08 657,391.97 754,593.24 441,157.50 61,OC fit*) on disposal or jany 2,837.42 365,733.50 2,837.42 $ ,837.12 365,733.50 365,733.90 3,854.16 3,854.16 18,554.23 2,976.12 802.049.50* 404.784.49* 863,495.27* 401,800.37* 3,654.18 863,195.27* 101,808.37* <3,260.00 1,300 .''0 ,26C.GO 0,260.00 10 10 12 s ,000007*2 PN*C ace lidated ning -P3Z .32.86 J72.72 05.S6 05.58 Condor Sold Mining Company Afterthought Copper Uines Canyon Company operations Tooele Valley Railway Company Ophir Hill aico Uines department, outside exploration, etc. 38 Total pages n and 12 8,600.00 6,440.78 6,440.78 548,526.51 1,887.21 136,102.79 7,608.65 1,657.81 8,760.71 713,143.68 95.000.00 95,000.00 2.G40.73 5,719.92 1,736.77 2,840.73 7,456.69 6,440.78 710,302.95 07,543.31 2,480.00 2,547.81 279 .27 156.22 2,157.79 279.27 7,341.62 2,360.47 344.46 2,360.47 344.46 2,001.20* 6,997.35 134,998.52 2,361.29 137,359.81 137,359.81 137,478.52 2,547.81 2,761,471.18 43,000.00 496,890.36 1,184,408.44 111,231.89 548,526.51 2,322.70 2,361.29 138,260.58 7,608.65 1.657.81 29,074.21 95.000.00 5,561.539.95 2,360.47 5,840.73 5,719.92 2,081.23 1,355.00 20.390.76 37,758.11 5,524,051.c4 27.28 27.28 .27.28 14,632.29* |4,632.29* [4,632.29* 174.84 592.79 159.80 3,953.66 12.355.44* 12,195.64* 3,953.66 12,370,48 3,360.87* 24,303.21 283.92 24,587.13 24,587.13* 767.53 29,416.67 12.:?1.52 15,345.15 15,577.52 2,674.05 220.00 2,674.05 220.00 2,674.05 12,590.48 3,360.87* 579,90 579.90 365,733.50 38,003.26 2,532.39 1.286.633.99 885.629.62 24,007.23* 901,207.14 5 co0 0j 39 ! PNYC0000074** 40 PNYC00000745 V& 15 Machinery, buildings and 24 Metals and manufactured products 21 Mine development 14 Mines and sin in.* clai/aa and lands 35 Miscellaneous income or loss Notes payable to Anaconda Copper Mining Company 2 Operations by departments - comparative 32 Other accrued liabilities 34 Other dividends and interest 20 Other security investments 22 Prepaid expenses 2 Profit on plant operations 16 Reserve for - depreciation 29 - workmen's compensation insurance 17 Securities - of subsidiaries - not wholly owned 19 - wholly owned 20 - other 18 Subsidiaries, investment in and advances to - not wholly owned 19 - wholly owned 13 Surplus account Taxes accrued forking capital 41 PNYC0000Q7