Show DIVIDENDS DIVIDEND 5 AND EARNINGS EARNING much stress is placed by investors and speculators upon the dividend paying capacity of a mine and there are many who lose sight of the fact that a producing and paying mine mine is not only a benefactor to the investor the stockholder when it is making regular disbursements bur of velvet money but that it is also adding to the worlds imperishable wealth in many other ways if no expense was attached to the operation of amine to the handling of its output and the final marketing of the same the good that a dividend paying mine would be to the public at large would be very limited for every do dollar alar paid in dividends four or five f ive must be expended in operatic opera tig expenses an army of men must be regularly paid the mine must be equipped with machinery freight rates and smelter charges charge cut an important figure with the mining and company many minor expenses must be met the result being that in millions illions are constantly flowing into the channels of trade and commerce from this source that but few of the investment class ever take notice ol of indeed the wealth disbursed through the avenues above outlined greatly exceed in dollars and cents the splendid sums bums being paid out in dividends and it means more for the country e and its ing than does the handsome profits regularly regul ariy taken down by the investor and speculator tor item fiteni of mine expense finds its way into the till of the merchant the dealer of bf supplies the teamster the manufacturer of machinery and even the most humble is bene fitted by these disbursements a cessation of which would bring desolation and desertion to any of the mining camps of this western country now so prosperous prop erous and flourishing we do 0 not botsay say that ahat it is selfishness that caus es the investor to almost ignore every evera feature of a mining enterprise excepting its dividend 7 paying ability but we wish to emphasize the fact that a mine that has paid out a million in dividends has also disbursed five million for operating expenses for which reason a mine and its usefulness must not be judged alone by the profit it has paid to its stockholders |