OCR Text |
Show UTAH CON. DIVIDEND. Three Dollars Per Share Unless Sonic Calamity Happens. As to the placing of Utah Consolidated Consoli-dated stock on a $6 dividend basis, a large stockholder savs: "There is no Question that the next Utah Consolidated Consoli-dated dividend will bo declared in December De-cember and will be $3 per share, uu-less uu-less the company should suffer some calamity. As the compauv is now showing profits of about In cents per pound on the production of about -JO,-000,000 pounds per annum, and as it has no use for its surplus earnings above a certain figure ,it is quite right that stockholders should receive the benefit of the present high copper prices, says the Wall Street Journal. "The Utah company is treating 950 tons of ore daily, which averages a little lit-tle better than three per cent copper, with sufficient gold and silver values to bring copper costs below five cents per pound. I figure that tho company is earning $10 per share, and if the stock goes, upon a $6 basis this rate, iu my opinion, will be maintained. Uwh Consolidated is an investment proposition, proposi-tion, and its surplus ia largo enough to warrant tho maintenance of Oivi. dends at the rate of $6 per annum, ovun though copper prices decline. Tho Utah company can earn $(5 per nbaro for its stock ou fourteen cent copper. "The mine is opened five voara ahead, and it is known that it could be opened fifteen years ahead at tho present pres-ent rato of production, if it was desirable desira-ble to do so. A winze was sunk some umo ago 150 feet below the lowest hvel in the Utah mine, and. the allowing was better than thrco per cent copper, with the average gold and silver values." |