Show A S Ks semiannual SEMI ANNUAL REPORT SHOWS A HEALTHY FINANCIAL CONDITION american smelting smelling Sm elting g refining 6 company earnings on the common stock at the rate of 2121 for the year 1928 are indicated in the companas comp anys semiannual semi annual report issued to stockholders october 1st ast for the six months period ending june 30 the report shows earnings b of on the common stock or 1062 per share these earnings are computed after deducting 6 bond interest depreciation obsolescence ore depletion taxes and dividends on the preferred stock the companas comp anys earnings on common stock during the same period of 1927 were at the rate of 1108 and in 1926 at the rate of 1165 net income before dividends was for the period in contrast with for the first six months of 1927 surplus income for the period after deducting dividends on preferred and common stock was this compares with in the corresponding period of 1927 in connection with the companas comp anys earnings on common stock president simon guggenheim points out in his report to stockholders that this figure is obtained after charging against earnings representing bond discount and expense applicable bof to and the premium on series B six per cent bonds c called ailed for payment april 1 1928 if the bonds had not been retired the earnings on the common stock for the period would have been 1127 per share or at the rate of 2254 per year the annual interest on the bonds called is equal to an earning of 42 cents per share per year on the outstanding common stock total current and miscellaneous assets amount to which is more than times the total current and miscellaneous liabilities of on june 30 1928 the company had on hand in cash call and time loans and U S government securities 36 an increase of over the same item at december 31 1927 |