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Show I RAY CONSOLIDATED IS MAKING PROGRESS Figures Show Large Excess Earnings Over Dividend Requirements at Present Prices. Special to The Tribune. NEW YORK, Oct. 4. Ray Consoli- ; dated earnings are showing up very sat- ) isfactorily, not only because of the bet- -j tor market price of copper but because j the company is making steady progress in approaching its rated 37,000 tons a day capacity, i The company showed earnings of j ncarlv 1,500,000 in the first half of ij this year, or .$280,000 in excess of pros- 3 nil dividend requirements. Earnings in the second quarter wero figured on 35 cent metal. Estimating tho selling j price of copper for the third and fourth jj quarters at 16 cents a. pound, would make Rav ("'on 's earnings for the vear g well in excess of tho $3,000,000 mark, 3 o. about .$S80,000 above dividend re- ij quirements. If the copper market aver- i ages 17c in the last three months of 5 this year, nnd the mine shows the ex- 5 peetetl increase in production, the com- jj pany will show in rouud figures $1,- a 000,000 in excess of a fullo'car's divi- (lend requirements. fj |