Show U S SMELTING REPORT boston july 6 statement issued by directors of the united states smelling smelting Sm Sni elting refining milling company says the earnings in first half of 1919 will show approximately from which are to be deducted for depreciation depletion federal taxes on last years income and the marking down of metals which occurred in the first quarter leaving an estimated net profit of the estimated profit is at the rate of 7 per cent per annun annum on the preferred stock plus per share for the six months on the common stock or at the rate of per share per annum 1356 per cent on the common stock operations in mexico have continued without interruption the average tonnage of ore produced and milled will be approximately tons per month for the first half of the year compared with an average of approximately tons a month last year commencing with july it is expected that this rate will be increased to tons monthly the output of coal for the first halt half of 1919 will show a decrease of about af 2 per cent as compared with the corresponding period last year owing to over supplies on hand band with practically all consumers after the war ended and an especially mild winter all of which led to consumers using up stocks on hand and placing only small orders for new business during the first part of the year this led to a reduction of forces and halftime half time operations during the first four or five months of the year the coal business is now improving and the outlook for the last naif of the year is much better the mines are working full time but still with reduced forces which will gradually be increased as the business improves the mammoth smelter was closed down during may on account of strike only development work is now being carried on at the mammoth mine the prices of all metals have materially improved since the first of the year and the outlook is for better results from operations in this country as well as in mexico for the rest of the year united states smelting smelling Sm elting refining company directors have declared regular terly dividend of a share on common stock payable july 15 to stock of record july 7 the record of dividends on the commod stock follows 1919 1912 1918 1911 1917 1910 1916 1909 1915 0 1908 1914 1907 1913 including present declaration dividend of 87 the regular quarterly cents was also declared on preferred stocks payable on same dates |