Show AMERICAN SMELTING AND REPINING REFINING EARNINGS DOUBLE IN TWO YEARS earnings on the common stock of the american smelt ing refining company have nearly doubled in the past two years according to the annual report of president simon guggenheim the report shows earnings of 2338 per share on the common stock in 1926 after deduction of preferred dividends this is an increase of per common share over 1925 and of 1078 over 1924 net income in 1926 available for dividends after deducting all charges taxes bond interest depreciation an and depletion amounted to this was an increase of over 1925 surplus income for 1926 was against for the previous year cash on hand a gain of over 1925 detailed comparison of income for 1925 and 1926 shows the following improvement 1926 1925 total net earnings 6 other income total income general expenses taxes etc interest depreciation etc net income dividends surplus income in his report to the stockholders president guggenheim says your company is in a strong cash position having on hand at the end of the year in cash call loans and U S government bonds and notes a gain of 9 over the preceding year which corresponds quite closely with the gain of in surplus before t the e appropriations for reserves the company expended during the year in new undertakings der takings enlargements and betterments the sum of 7 without additional financing total current and miscellaneous assets made a gain during the year of and stand at almost five times total current and miscellaneous liabilities of As total current and miscellaneous liabilities decreased during the year in the sum of the actual gain in net current assets was 2 common dividend which was increased from 6 to 7 per cent in 1025 was further increased to 8 per cent in 1926 principal metal products of the company in 1926 were copper tons lead bead tons gold 8 ounces silver ounces A special distribution of 8 per cent of the years salary was made to all salaried employees who were in the service service of the company throughout the year and earned less than for employees who earned more than the special distribution was 74 per cent of the years salary |