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Show IRISH DIVIDENDS M ITS G DAL MINES Hi RAILROAD INTERESTS Mather a bullish statement has been Issued to It stockholders by the United Slate Smelting, Iteflnlng und Mining company under date of December De-cember 38, 1916, front tho general office of-fice at Iloston, Mas. Thl corporation corpora-tion hold most of the bond und stock of tho United State l'u el company com-pany and the Consolidated l'u el corn-pan), corn-pan), operating In Carbon and Cm-er Cm-er counties. Also tho bond and stock or tho Utah railway, tin Castle Valley railroad and lint Southern Utah railroad. The statement comes under tho signature or 1". W. Hatch-elder, Hatch-elder, secretary of the smelting and mining company, nnd roads: "At tho meeting of the hoard of directors, held on December 28, 1915, the regular titiartcrty dividend at the rate of 7 per cent on tho preferred stock was declared, und u dividend of eeventy-flve cent per share or 'nt tho rate or 0 per cent per annum won declared de-clared 011 the common stock, Ihith dividend payable on January 16, 1910, to stockholders of record at the closo of business, December 31, 1915. In resuming the payment of dividends 011 tho common stock, the director feel that the stockholder should bo placed In poisesslon of tho following facts: "At the quarterly meeting of director di-rector held during the year It wu decided that owing to the unsettled condition In Mexico, It wu wise to take no action an common dividend and to allow the cash resource and working capital to Increase. Whllo condition In Mexico have Improved, they nre not yet normal, but ns earning earn-ing from the properties In tho United Uni-ted State havo been larger than expected, ex-pected, and with the expectation or earning from Mexico being larger the coming year, the director decided to pay a dividend on the common stock at this time. "The earning for the past year i (December estimated) will show a surplus of -over $4,300,000. This surplus sur-plus I after payment of preferred dividends, and after a reserve for depreciation. de-preciation. Improvement and exploration explor-ation of nearly $800,000. and a upo-clal upo-clal resorvo from earning from xlnc smelter largo enough to write off tho Investment made durlrt the year In xlno smelter to lesn than ono-thlrd of their cost. Present Indications aro that the earning from the xlno smelters smel-ters during January and February will be such that the remainder of thflr cost will be earned anil can be written off by March 1. 1916. "This surplus after these reserves I equivalent to over twelve dollars' pur share on the common stock, or to u rate of over 21 per cent per annum. Tho earnings for the last quarter (Do- BBBBBBBBBBs comber estimated), owing In purl lo the sale of metals nt high price, will bo tho best of the cur, being at the rule of over 60 per cent or twenty-five twenty-five dollars a shore for the common stock per unnum, excluding earning rrom xlnc smelter. Your Mexican propertle hixvo contributed about 20 per cent to the earning of tho yeur. "Tho Mat htudiu- I in hern xxr nml iiiiNiitUrnctory, but I iM'ttci nt tho ptwnt time, foul mill rollroiiit properties prop-erties Mill full tu inrn fixed charge oil the 1 0,(100,00(1 or Utah ,y ,,Hiut HIJVI03 ror tho cnr. Till deficit hai been rwncl from ciirulng Ik-rmv Ik-rmv iirrhlng nt Hit iiIkiio mentioned net figure, "There have been now and Important Impor-tant deelopment In some or the propertle during tho year, which have already resulted In putting In sight a new tonnage of ore or high grade and large In quantity. These new developments whllo within ur old propertle nro In entirely now territory ter-ritory "These development nro continuing continu-ing und although It Is Impossible nt thl time to estimate tholr full value, .tho director believe tho stockholders should bo Informed that the possibilities possibili-ties nppeur so large that with a further fur-ther continuance of these development develop-ment It I possible thut a now standard stan-dard of value bo made for the common com-mon stock." |