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Show DIGGINGS LED IN DIVIDENDS FOR MAY In ita review of tho dividends for May, the Engineering and Mining Journal says: "Dividend payments by tho mineral Industry In America have- been exceptionally ex-ceptionally good in May, and with twelve companies less reporting, the April record has been doubled. In nil forty-eight companies, tabulated by the Engineering and Mining Journal, declared de-clared In May dividends aggregating $10,612,931. Over 80 per cent of this wao contributed by four copper companies, lead by Amalgamated's quurlerly dividend divi-dend of 0.5 per cent, and three Iron and steel concerns, lead by the United States Steel Corporation's quarterly preferred of 1.75 per cenL The surprise was a reduction in tho monthly dividend divi-dend of the Daly West mine, In Utah, from 65c, paid since last September, to 40c, which will result In a difference of 15 per cent per annum on the company's shnre-capltal of $3,600,000. This reduction reduc-tion has been made necessary by the knowledge that the oro reserves In the mine arc depreciating and that further drawing on tho high-grade ore' to meet heavy dividend-payments would result dlsastousll for the company. To counterbalance the Daly West dividend cut, Ophlr, of Nevada, has doubled Its payment by $25,200, Bunker Hill & Sullivan, Sul-livan, of Idaho, has increased Its monthly rate by $15,000, and two new oil companies in California have come forward with $7750. In detail the May dividends were; Four copper companies, $1,630,215; twenty gold, silver and lead, $672,296; thrco zinc, $301,915; thrco iron and steel, $6,S99,206; three coal and coke, $526,941; thirteen oil and gas, $4S4,605; two chemical and mineral companies, $97,750; total, $10,612,931. In addition to the above, eight Mexl-enn Mexl-enn mines and metallurgical works paid In May $471,881, of. which Greene Consolidated Con-solidated Copper, owned principally In New York, contributed $259,200 as a 3 per cent dividend. |