| Show A S R DIRECTORS PLAN SPLIT UP OF COMMON STOCK OF COMPANY according to new york advices advises of the a t three for one common stock split up of the american smelting smelling Sm elting and refining company was approved by directors an and d a special meeting of stockholders to ratify the proposal was called for december 18 the directors indicated the 1928 earnings would reach 24 per share of common stock the stockholders will vote on oil changing the par common stock to no par value and authorizing an ail increase to shares from there will be shares of new stock to be exchanged for shares of outstanding common on basis of three shares of new for f one of old without capitalizing any of the surplus or net ilet profit of the company this thi s w will ill leave iu in the treasury treasur shares of no par common the directors also proposed creation of a second pre ore berred stock of shares of par and entitled to cumulative dividends of 6 per cent the next common di dividend Vide ild is payable november 1 and is at the rate of 8 annually on the present common at the directors meeting the fir first st tuesday in january the new dividend rate on the hew stock will be fixed the earning capacity direct directors believed will warrant an increase in the new divi dividend rate |
