Show I Ie C CI 8 H STOCKS b bv HEAVY DROP v Reduced Dividend Announce Announcement Announcement Announcement ment Causes Decline of 49 a Share in One Call Boston March 4 The directors of ot ott the t e Calumet Hecla Mining company today declared a quarterly dividend of ot 5 a share as against the last quarterly quarterly quarterly terly dividend of 10 One of ot the directors of ot the company said today that the company had very little copper on hand and even sales for that little were slow He declared that copper could not be produced in America in sufficient quantities at 13 cents a pound to satisfy the demand Since the price of copper declined be below below below low 13 cents a pound some weeks ago agot tie the t e Calumet Hecla company had practically withdrawn from the mar market market market ket The corresponding dividend a year ago was 20 There was an Immediate declIne In Calumet following the an announcement announcement announcement of ot the reduced dividend At noon the stock was quoted q at 1601 a drop of ot 49 from the last sale at and 31 from yesterdays closing bid It Itis ItIs Itis is understood that the reaction In div dividend divIdend dividend was made as a conservative step stepin in view of ot an an uncertain selling market i i ii |