MT. MORGAN PROFIT After falling sharply in the previous year, the net profit, of Mt. Morgan Ltd., Queensland. rose from £46,370 to £128,494 as a result of substantially increased production for the year ended June 25. Total income rose from £950.666 to £1,279.066, <and expenses, including cost pf removing overburden, were £1.046,989, compared with £813,455. The working surplus was £23'2.077. against £137,211. The 7 per cent, preference dividend absorbs £21,000. and £20,000 is again placed to capital redemption reserve. Income from other mining accounts is increased by £21.291 and £50.000 is placed to special reserve. Carryforward is £134,827. against £118,62-1 brought in. An ordinary dividend of fid a share, the first for seven years, will be paid on September 30. A total of 3793 tons of blister copper was produced during the year, against 2681 tons in 1948. Copper production was 3744 tons (2648 tons), gold 62.5150 Z. (44,0350 z. >. and silver 17.2350 z. <15.2500z. ). Sulphide ore treated was 770.250 tons, compared with 572.320 tons.
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Wanganui Chronicle, 3 October 1949, Page 6
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165Page 6 Advertisements Column 4 Wanganui Chronicle, 3 October 1949, Page 6
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