Show THINGS WORTH KNOWING ABOUT US U S COMPANY In a letter l to its calling caln at attention t tendon to t what a nt the preferred stocK ID of the United Smelt Smelting Sm SmeltIng lt ing In Refining Mining company ic is il Hay Har Harden hayden den Stone Ston ft a Co of o New York hue have the tM following pertinent and newsy new comment to make mke on the th company and it affairs Its Jt outstanding capitalization consist cOss of o Im preferred pefe stock tock and amI iW MS e common stork stock par pr of ot the shares phare being ln 39 10 The only prior p lr tames Issues tE consist of 1 1 t outstanding stock of or subsidiary sub companies and an debentures due d June U 1 1 1909 1904 1 These Te debentures It I Is un on understood u I dento will wi be b provided prodo for or at matur maturity i ity I It out of current resources rf ures Dividends of 7 i per pr cent per annum n per le on the preferred pr stock stok have tx been en paid pi quarterly quarter since si organization tion Uon The Te common emon stock at present h Is r receiving ing dividends or of 4 per pr cent per an aD annum aDnum annum num 2 per share shae Despite Despie the low prices price ruling in the metal Industries it I is estimated that net nt earnings earning for the past ps year vear tf after preferred dividends left lef a balance equal ual to shout about V 10 I per cent et on th the common commo stock Tn In IPOS 1006 1 when Ien the prop ties had bud bd not attained their ther present stage of o development net n earnings after af pre preferred pM preferred fe dividends were equal eua to 1 Ii per percent percent cent on the th common stock ok p The amount of outside ores purchased and handled bv h the th United States Smelt SmeltIng Ing lug company has thus far ben bo so 10 small smal In proportion to the total operations i of the tM company compan that no 10 apprehension exists as 1 to the th effects of operations of a a new company At the t current cret market price of about sn 47 the preferred shares share sell pel on an In Income Income come basis of about 75 7 i p pr r cent cent The Tue n nt bs wice t of the shares bare Is t at t abOut abt the market markt level tel reached r ed some Ight or nine months as ago Two 1 lArge r re blocks brok of stock ag the that t have b en e 6 O en the ti market have ha recently renty been n satisfactorily of ot With no security Issus ranking ahead of them and fallowed bv be 1 tn ui n issue of common stock tok a near mar marv t o v ss t value hlf of about abut the preferred shares Ares I are in our ur opinion to he be I d desirable Investment ns 15 II a 5 very verv d lar t Iare r urn on 01 the th rout cost t and with geM Jo acorn of ot an appreciation laUn on O the present pric |