Salt Lake Herald-Republican | 1906-03-16 | Page 6 | U. S. Smelting Dividend

U s SMELTING DIVIDEND Directors Order a Big Distribution on Preferred Stock At its meeting in Boston on Wednes Wednesday day the board of directors of the United States Smelting Refining Mining company declared a dividend of 14 1 per percent percent cent per share upon the pre preferred preferred stock in the corporation or Books will close on April 2 pay payment I ment will follow on April 6 and books reopen AprIl 30 It is now estimated that the United States company is earning at the rate of approximately per month or a year and It is figured that the company fr from m now on can earn 7 per cent per annum on its outstandIng preferred stock and per share on the shares of outstanding corn com common cornmon mon stock Last month the third furnace at the Mammoth smelter was blown in and the full capacity of the orIginal installation as planned has now been reached The Mammoth smelter is now shipping a low grade matte to the smelter at Bingham Junction In Instead stead of and making a high grade matte at the outset The Thelow Thelow low grade matte carrIes the iron ex excess excess cess so much sought after by the plants here and with favorable freight rates the change has been made profit profitable profitable able The United States company only paid for the Mammoth property and the management at the time was se ne severely verely criticized for the purchase on the ground that the men who ere this property although a few of them were connected with the United States company received a promotion profit of for turning their bar bargain bargain gain oser oer to the United States corn com company pany With three e furnaces In operation it itis itis is apparent that the company can pay the purchase prIce of the Mammoth property from less than one years operation