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Show CALUMET AND HBCLA CUTS DOWN DIVIDEND BOSTON, March 4. The directors of the Calumet nnd Hccla Mining company today declared a quarterly dividend of $5 a share, as against their last quarterly dividend of $10. One of the directors of the company said today that the company com-pany had very little copper on hand and even- sales for that little were slow. He vdeclared that copper could not be produced In America In sufficient quantities quan-tities at 13 cents a pound to satisfy the demand. Since the price of copper declined de-clined below 13 cents a pound some weeks ago tho Calumet and Hecla company had practically withdrawn from the market. The corresponding dividend of a year ago was 520. There was an Immediate decline In Calumet following the announcement an-nouncement of the reduced dividend. At noon Calumet was quoted at 601, a drop of fortv-nlne points from the last sale at 650 and thirty-one points from yesterday's yester-day's closing bid. It is understood that tho reduction in dividends was made as a conservative step in view of an uncer- j tain selling market. |