| Show UNITED STATES COMMON the united states smelting smelling Sm elting refining mining company which has posted its regular quarterly dividend of 87 cents a share on its preferred stock has issued the following statement relative to the passing of the dividend on common stock earnings for the first quarter of 1915 was equal to the regular quarterly dividend on the preferred stock and a balance for the common stock equal to 10 per cent per annum tile the april and may earnings besides the preferred dividend for these two months showed earnings equal to 30 per cent per annum on the common stock the earnings for june have not yet been received but will continue to be highly satisfactory finished metals on oil land hand are carried at a valuation substantially below present market prices the mexican properties have contributed less than 15 per cent of the total net earnings of the last five months should normal conditions prevail tile the mexican mines and mills are in condition to show larger earnings although the company cannot be reckoned a large producer of zinc yet the earnings from this source have been substantial during the last five months and the company is now increasing its smelting smelling sm elting capacity to take care of the zinc ore from its own mines and mills while the earnings of the company for the last quarter have been very large the directors feel that these earnings are to a great extent the result of abnormal conditions resulting from the war it seems sound policy and for the best interest of the shareholders to allow the working capital to increase substantially before taking action on the common dividend |
