OCR Text |
Show GREATER DIVIDEND IF AWAITED Company Puts Slock Upon Six Per Cent Annual Basis. Tho directors of tho Amalgamated Copper company, at their regular quarterly quar-terly mooting yesterday in Now York, declared a dividend on a 6 pnr cont basis, nsalnst tho former rate of l per cent per annum, in this manner meeting expectations of tho coppor world an well ns of shareholders. It has been thought for a month past that such nctlon would be taken at yesterday's session, and this has been of material benefit to tho copper cop-per sham market, although tho lncrcaso for the tlmo being was discounted far enough in advance to prevent any material ma-terial boom following tho certainty. This Increase will call upon the Amalgamated Amal-gamated treasury for SJi.2M.27-t per annum, an-num, against JC.155,516 under tho former for-mer rate, a figure that tho company cafi reach without difficulty in vlow of tho existing coppor metal market. This advance la taken by everyone as good and sufficient evidence that President John D, Ryan and associates arc willing to pructlco as well as preach their conviction con-viction that, the higher coppor motol murkot range ban come to stay for an indeflnlate period, and it is evidence llko this that convinces the world of the present legitimacy of tho copper markot- Tho . result can not help but be- decidedly de-cidedly favomhlo to tho c-oppcr share market, giving greater confidence In tho market position of the producing proportions. |