1 Includes 3 percent transportation tax which must be paid by mining companies. In 1944 Dunwoody mine was the only mine with operating income over $i. This mine is owned in fee. NOTE.-Railroad freight charges arrived at by multiplying tonnages by 92 cents. Actual rail revenue somewhat higher as part of ore is shipped all rail to consuming points. EXHIBIT S-19 Comparison of iron ore production for years of 1939 to 1945 showing tons, net operating income before fixed charges and Federal taxes, amounts collected by upper lake rail carriers, and royalty taxes paid to fee owners, designed to show gradual increasing unfavorable position of producers of beneficiated ores Direct shipping mines with net operating income of $1 per ton or over (14) Beneficiating mines with net operating income of $1 per ton or over (12) (13) Direct shipping mines with net operating income between $1 and $0.30 Beneficiating mines with net operating income between $1 and $0.30 Direct shipping mines with net operating income under $0.30 and with losses 5,478, 886. 19 Beneficiating mines with net operating income under $0.30 and with losses UNDERGROUND MINES $6,037. 10 Beneficiating mines with net operating income of $1 per ton or over Beneficiating mines with net operating income between $1 and $0.30 Direct shipping mines with net operating income of $1 per ton or over Direct shipping mines with net operating income between $1 and $0.30 No beneficiated underground mines made a profit in range from $1 to $0.30. 1943. 1944. 635, 233 324, 667.59 .5111 1 601, 946. 79 .4807 305,356, 50 1944.. 1945... 872, 015 475,056. 03 .5448 1 826, 321. 41 .4167 363, 368. 65 1945... Direct shipping mines with net operating income under $0.30 and with losses Beneficiating mines with net operating income under $0.30 and with losses 1 Includes 3 percent transportation tax which must be paid by mining companies. * In 1944 Dunwoody mine was the only mine with operating income over $1. This mine is owned in fee. NOTE.-Railroad freight charges arrived at by multiplying tonnages by 92 cents. Actual rail revenue somewhat higher as part of ore is shipped all rail to consuming points. EXHIBIT S-20 Minnesota iron ore production for open pit mines, based on 1948 occupation tax reports adjusted to show true costs; also royalty and royalty tax payments per ton Total. 32, 494. 744 791, 374. 44 12, 776, 946. 13 1, 719, 435. 10 7,970, 784. 61 1, 230, 421. 88 1,283, 223. 88 336, 620. 22 5,692, 999.97 745, 485. 63 3, 521, 820. 38 530, 889.95 609, 022. 28 4. 4382 144, 218, 883.60 63, 852, 171.99 80, 366, 711. 61 2.4732 1.0589 34, 408, 213. 53 DIRECT SHIPPING MINES WITH OPERATING INCOME BETWEEN $1 AND $0.30 454, 754. 22 2.6546 1.2973 222, 237.87 1.3573 232, 516. 35 0 7,083, 946. 16 2.4451 1.2393 3, 590, 501. 20 1.2058 3, 493, 444.96 222 973, 949. 47 2.5672 1.4089 534, 511.30 1. 1583 439, 438. 17 4, 448, 964. 23 2.4823 1.3435 2, 407, 921. 46 1. 1388 2,041, 042. 77 109 699, 531.93 2.5892 1.5295 413, 229. 60 674, 201. 60 2. 1753 1.1409 353, 604. 84 DIRECT SHIPPING MINES WITH PROFITS UNDER $0.30 AND WITH LOSSES 1 Operating income is before provision for return on invested capital, depletion where mines are owned in fee, and Federal taxes. Tax payments on ore reserves must be paid from operating revenues derived from mines that are under production. Columbia and Scranton mines, listed as beneficiated mines in original report, have been transferred to the direct mines due to the fact only a small amount of tonnage was beneficiated. NOTE.-Figures in parentheses indicate loss. |