Kcnnecott's operating revenues totalled
$8,437,191, against $5,532,622 in 1919;
operating expenses $5,185,700, against
$3,091,515; other Income, $3,225,530,
against $1,897,274. After charges for
Interest, depletion, depredation and
$2,787,081 In dividends, the deficit was
$1,317,833, compared with a 1919 deficit
of $2,340,202.
Braden reported operating revenues of
$10,446,551. compared with $4,240,647 In
! 1919: operating costs $8,354,293, against
$3,921,657; other Income $327,246,
against $671,328.
Kennecott during the year located
thirty-five claims and produced for ship
ment to smelter 91,991 tons of ore, con
taining 26,316 tons of copper. Smelter
receipts totalled 61.365,261 pounds of re
j fined copper and 507,726 ounoes of sil
| ver, while 45,487,855 pounds of copper
were sold at an average of 17.415 cents
1 a pound, and 507,726 ounces of silver at
! $1.01 an ounce.
COSDEN-PHILLIPS OIL
MERGER IS CALLED OFF
Failure to Agree on Prices of
Stocks Causes Hitch.
A promising oil company merger. In
volving two prominent corporations of
the Mid-continent petroleum field, has
been abandoned after several week's
consideration. The companies, Cosden
& Co., with 1,400,000 shares of author
ized common stock, and the Phillips
Tetroleum Company, with 1,000,000
shares, will continue to operate un
distinct organizations because J. 8.
Cosden and Frank Phillips, heads of
these concerns, were unable to fix up
on terms mutually agreeable for a
consolidation.
