Page:Walter Renton Ingalls - Wealth and Income of the American People (1924).pdf/124

102 as a whole being therefore $171,275,177. These figures indicate that the net income per ton of coal produced was 25 c. and that net income in the aggregate amounted to 9.36 per cent of the total gross value of the production.

The iron mines of the United States in 1918 produced 72,021,202 long tons of ore and 38,230,440 long tons of pig iron, the value of the pig iron product being $1,180,759,565. The iron mines reported net incomes of $5,390,973 and deficits of $1,025,861. The iron smelters reported net income of $89,877,109, and deficits of $865,857. The net income of the iron mining and smelting industry as a whole was therefore $93,376,364, which indicates net income of $1.30 per long ton of iron ore and $2.44 per long ton of pig iron. The iron mines of the country are largely owned by metallurgical companies. It appears from the figures reported by the Commissioner of Internal Revenue that net income was figured rather on the metallurgical side of the business than on the mining. On the basis of pig iron the net income in 1918 was 7.9 per cent of the value of the product.

The copper, lead and zinc mines of the United States reported net incomes of $89,998,253 and deficits of $8,764,977, a balance of $81,233,276. Smelters and refiners reported net incomes of $14,943,282 and deficits of $2,609,021, a balance of $12,334,261. The net income of the industry as a whole was therefore $93,567,537. The value of the copper, lead and zinc produced, plus the gold and silver as by-products ($54,858,758) was $695,378,108. Consequently the net income of the industry as a whole was 13.5 per cent of the value of its products.