| Show BINGHAM MINES CO TO PAY USUAL QUARTERLY DIVIDEND OF with the posting of its usual quarterly dividend of 1 I 1 a share which goes out to stoc stockholders kh of record june on the fifth day of july recent reports s show how that notwithstanding the ups and down of the metal market and fluctuations in the metallic contents of the ores mined the bingham mines company is doing very w well ell thank you the affairs of the company are reviewed reviewed A on the boston end of the line a as s follows bingham mines reports for the fir first st four months of 1927 an operating profit of this included its e equity in eagle blue bell mining profits and is equivalent to a share on the shares of stock outstanding in n the first four months of 1926 the company showed an profit similarly figured of only or operating mines started off the that bingham a share it is apparent continue 1927 in an auspicious manner if operations year remainder of the year to show the same rate aate of profit during in the first four months the company seems assured of a as full twelvemonth approaching that of 1925 in general prosperity during 1926 the company earned net profit of falling 0 off ff inears whereas s in 1925 profits were ings for 16 as compared with 1925 waldue was due in large measure to the decline in price of lead and silver both of which metals bingham mines produces in large quantity profits last year were also somewhat restricted as compared with those of the preceding year because of encountering a fault in the victoria mine which greatly lowered productivity of that unit and also because of the fact that grade of ore at several units was considerably lower for certain periods of 1926 than in the preceding year As is well known the grade of ore ati at the properties controlled by bingham b mines is characterized b by y alternate leanness and richness which causes sharp fluctuations from time to time in earning power these ore fluctuations are temporary in nature however and all companies operating in the bingham district are affected by them thus operating profit of the company during the remainder of 1927 may not be at as high a rate as during the first four months but it appears probable that earnings for the current year will exceed those of 1926 in general property conditions are better this year than last the faulted portion of the victoria unit has again been put in sight and there has been an increase in grade shown bythe by the other properties controlled by the company outside of some unexpected adverse development therefore it appears probable that profits this year will be on a basis comparable with those of 1925 barnin earnings 6 s in april alone this year were equivalent t to 0 very nearly 1 a share on the outstanding stock or to be exact as compared with earnings of but in april 1926 may earnings on the basis of latest reports were somewhat lower than in april due to sagging metal prices but the company nevertheless operated on a very satisfactory is basis during that month also bingham is in sound financial position with metal market conditions anywhere near normal and on the basis of earning power thus far developed ve loped it is able to cover its 4 annual dividend payment by a very safe e margin |
