Salt Lake Tribune | 1914-02-17 | Page 7 | Anaconda Mainstay of the Amalgamated

ANACONDA MAINSTAY OF THE AMALGAMATED No Thought of Distribution of Shares by thc Latter on Account of Proposed Pro-posed Legislation. Special to Thc Tribune. NEW YORK,. Feb. 10. Proposed ' legislation prohibiting lioldiiij; companies com-panies lias given rise to reports that the Amalgamated Copper company would distribute its Anaconda holdings, which amount to approximately 3,132,-500 3,132,-500 shares. In this connection it is ol-iicially ol-iicially stated that Amalgamated Copper has no present intention of distributing its Anaconda shares, no plan having bean considered. Amalgamated depends almost entirely upon Anaconda for its income- Anaconda is pa3'ing $3 a share annually, and Amalgamated, with its 3,132,500 shares, is receiving $9,397,500 in dividends. Amalgamated pavs to its shareholders $6 a share, or 9,000,000 annually. It is estimated that Anaconda's Ana-conda's earnings in 913 did not cover dividend requirements, and that a deficit defi-cit of $1,000,000 or more will be ro-portcd. ro-portcd. Anaconda's year ended December Decem-ber 31 last, but the statement will not bo made public until early in the spring. Although Anaconda may report a deficit in 1913 on a basis of lO'Vi ient epppor, and the average price so far this yoar lias been considerably lower, there- have been no indications of a reduction. in dividends.