Show x I SMELTER S TRUST IS GATHERING A STORM STOR l Holders of Common Stock Dissatisfied fied cd at It Refusal to Smelt t Low Low- Grade Ores Ote tEW NEW YORK Dec 3 For For a a. year nar or store there have been expectations on the patt part of or some ome of the holders of oC American Smelting and common coma com mon moo mon stock that it would b be placed on ona a dividend basis bails either late lale this year car or erl early in hi 1 1503 13 There are well informed j who vho are now inclined to believe that o to lQ a falling falling- or off In earnings particularly caused causel b by the heavy y decline de de- de- de dint dine In the he price of silver sliver no tie dividends I will be forthcoming on an the common stock during the coming comins year The preferred stock Is entitled to receive dIvIdends and It Is II unde understood tood that tha t th the directors will iIi not hazard the payment of the preferred dividends b by beginning dividends on the common It Is stated by ore one In clo close C touch with the company that the preferred dividends dividend ur are more I than being earned at the present time I There Is a J. J good deal of or dissatisfaction proving growing out 0 of the refusal o of the time company com corn zany pany to smelt grade low ores In Utah and other places 8 Ian l Many producers of low grade rade ores ore haw have been heen compelled to cease operations until the company compan 13 Is read ready to accommodate them This development deI de de- de- de I has tended to stimulate competition com corn petition c In the smelting smelling industry |