ROAN ANTELOPE EARNINGS.
Roan Antelope Copper Mines publish quarterly statements of earnings. For the December quarter of 1937 they show a proportionately much sharper decline in profits, since it was only in the last few months of the year that the full force of the break in the price was felt. The following table shows how earn- ings have developed over the past year : Gross Net
revenue. profits.
z936-4th quarter
733,500 307,000
1937-1st quarter 1,080,500 615,000 1937-2nd quarter 1,243,500
693,500
1937-3rd quarter 1,182,500
686,5do-
1937-4th quarter
833,500 359,000
The average' price of copper during the December quarttr was £42 Jos. gd., so that the market conditions were, only, slightly better than they recently have been. It must be remembered, however, that it was only on December 1st that the re-imposition of copper regulation took effect. The next quarterly figures will reflect a curtailment of production, while the producers have -so far not obtained any compensating increase in selling prices. * * * *
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