Show FAMOUS WARDNER MINE ON DECLINE I 1 the caledonia mining company alil pay dividends quarterly instead of monthly after the payment of the monthly dividends on june 5 and july 5 each of which will be at the usual rate of 1 cent per share and amounting to this announcement says the wallace idaho miner was made by stanley A easton president of the caledonia cal e company who makes this explanation of the affairs of the company which made a cut in the dividend rate necessary no new ore bodies because of the improved metal markets and the increased output the net returns for the quarter ended on march 31 last are better than for similar periods in the past but because our development has disclosed no new ore and because of payments on account of federal income and excess profits taxes it will be necessary as explained in former communications to revise the present dividend rate it is hardly necessary to point out that whatever part of our present surplus and future earnings is unnecessary for the payment of expenses and taxes will eventually be distributed to the stockholders in dividends when the ore bodies are fully worked out and tle the company liquidated finances the financial statement for the quarter ended on march 31 last shows a surplus of the cash in banks at that time was invested in liberty bonds in treasury saving certificates and due from the smelter the total of which is this sum is reduced to by a deduction of of which was reserved for taxes and for current accounts metal prices the production for the quarter was twenty eight dry tons contafi containing n ing pounds of lead having a value of and ounces of silver having a value of or a gross value of the average prices in the period of production was to the pounds for lead and an ounce for silver and the average assay of the ore was per cent lead and 23 in silver to the ton deductions from the gross value of the ore a deduction of is made for the smelter charges leaving a net bullion value of 94 another deduction of is made for mining and shipping which leaves a profit fo or an average in excess of a month the mining of tons cost or 1025 a ton and shipping |