Show UNITED STATES SMELTING COM COMPANY PANY PAYS DIVIDEND AND ISSUES REPORT the united states smelting smelling Sm elting refining mining company has declared a regular quarterly dividend of 87 cents a share on its preferred stock payable january 15 to stock of record january 7 according to boston advices advises ad vices the united states smelting smelling Sm elting refining mining company reports for the eleven months ending november 30 consolidated earnings of after interest charges there have been deducted from these earnings reserves amounting to for depreciation depletion and amortization leaving estimated net earnings for eleven months of in completing the profit and loss account for the year the december earnings gains b on sales of metals during the year and annual adjustments will increase the profits now reported the net profits for the year after reserving for federal taxes and after making additional reserves estimated at approximately for further amortization of capital investments and other purposes will be sufficient to provide the dividends on the preferred stock and have a small addition to surplus the earnings of the midvale smelter and the bingham and niagara mines mines in utah showed substantial increase during the first half of the year owing to larger production and higher prices for lead and products byproducts by the gross earnings from coal and railroad operations in utah have been small as the competition with oil for fuel purposes in the western states has lessened the demand for coal with the result that the output of coal this year will not be much in excess of tons as compared with tons last year the earnings of the mexican properties have been maintained on the same satisfactory basis as last year notwithstanding withstanding b the lower average price of silver prevailing an throughout the present year the output of the mexican mines will about tons per month as compared with tons per month in 1922 the capital additions will amount to about representing construction and improvements in mexico at the coal and railroad properties and at the mines and smelter in utah it is estimated that the net current assets at the end of the year will be about as compared with 11 a year ago C F moore vice president in charge of foreign operations was elected a director to fill the vacancy caused by the resignation of robert treat paine II 11 |