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Show BANKERS ON WAY TO BUTTE MINES John D. Ryan Will Show the Amalgamated to Capitalists Capital-ists of East. ALL IN IDEAL SHAPE Earnings Have Been Well in Excess of Dividend Requirements. The strong position of the Amalgamated Amal-gamated Copper company, which was emphasized at last Thursday's meeting of directors when the dividend rate was Increased In-creased from 2 to 4 per cent. Is thus accounted for by the Wall Street Journal Jour-nal In large measure the credit for putting the Amalgamated mines where they are today must be conceded to President John D. Ryan, who, ever since he became j the dominant factor In the physical and I financial operation of the various properties, proper-ties, has hewed to the line of conservatism conserva-tism In an effort to live down "the crimes of Amalgamated." Bankers Interested. Prominent banking interests are now invited to take a first-hand view of the company's properties, and such bankers as have recently returned the.ref rom are j I extravagant in their expression Of ad - ' ' miration at the splendid rminner In Which 'the properties .-ire now (Quipped for economical eco-nomical operations. Electricity and com-pressed com-pressed nu- have piaved Hn Important part in this Improvement programme, until today the. unification Of the copper mines on Butte Hill finds them In shape to shoTV a maximum output at the lowest operating costs in their career. Amalgamated, therefore, enters the 1-eent 1-eent copper market under ideal conditions. condi-tions. Tne treasuries ftf the subsldlaiy properties are stated to hold $40,000,1)00 of . a?h or the equivalent of cash and it' la therefore but natural that stnekhold- j era should entertain the possibility Oil some pleasant surprise at the hands of the directors next Thursday, in addition to putting the stock on a M dividend 1 basis. Instead of a miscellaneous collection of copper stocks Anaconda Is today the big 'asset behind Amalgamated, the latter j owning 8,186,802 shares of Anaconda.1 which represents "i Vpr cent of the total j I outstanding stock. Amalgamate s only Indebtedness Is represented by (he 312.-, I 500,000 short-term notes due April 1. 1911. 1 and issued for the purchase of the United ' Metals Selling company ICven after de- j i ducting these notes from current assetH, Amalgamated Is figured by Its officials to I have net o'Jtck assets SQUa to $21 per I share on Its outstanding stock- Present Earnings. Ith an ownership of more than two shares of Anaconda for one share of Amalgamated, it Is a simple matter to figure the divisible protlt of Amalgamated Anaconda must bo earning at the rate of ?4.S0 per share on its 4.332,500 sluu-es, which earnings gl"e Amalgamated an earning capacity of considerably ever $9 per share. If to Its Anaconda earnings there Is added interest receipts, dividends on other subsidiary sticks, etc.. Amalgamated Amal-gamated on 16-cent copper should be earning not less than $10 per share. Amalgamated directors are scheduled to meet for dividend declaration on Thursday, Which IS the day Mr. Ryan's party, composed of New York bankers and men prominent In the copper Industry, Indus-try, leave on a special train as his guests for a visit to the mines. |