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Show GDPPER WMd GURTAILSOUTPUT The Calumet-Arizona Takes Cognizance of Sluggish Condition of Market. v':ti:ui the ne.t few days the Caiumet &. Arizona .Miu.ng company will complete a I'Tuyrjni in vol v in the curtailment of tuinine; aii'l srneitmg operations, ea s the Dosiuii Ncwb Mtireau. Tlie company has taken COK1112 nice of the tluihsh at ate of tho copper 111 etui market, but ib approaching ap-proaching t he problem carefully, having :n view the conserva t ion of us much of iti working orKanixaiion aa possible and the de.-ire to inflict no hardship on ity workmen. When copper was moving slowly la;-t .spring, Calumet - Arizona shaved operations opera-tions down to but tin per o-nt capacity and put ita suhnliary. the. New Cornelia copper company, on ihe same basis. 'I hen with the pieli-up 111 copper business, m .ally summer. Inc. company and ils ward , iiu:rea.sed operations to a point whore they were put tint; out over 4,000,000 pounds of copper apiece monthly. Although it is too early to tell what tho company's aetual percentage of operations op-erations will be, it is believed it will curtail cur-tail lo at least GO per cent at both mines and smelter, maintaining this rate until a resumption of copper buying warrants inerea sod out put . Calumet & Arizona has completed its dividend proe,rani for l!l!t. The company will have paid $3 per share on -the tili.OOO shares when its latest declaration has been paid. This is tho smallest year's disbursement since 1914. the year of the outbreak of tho European war. and with the exception of that year the smallest since i:o;j. This, of course, is attributable to the stagnant condition of the copper metal market that has obtained throughout most of the year. Stockholders, however, may feel complacent that the company has earned its l;i! dividend and has not had to dip into surplus. Whatever the parent company does in the way of curtailment of operations, New Cornelia will follow in the same course. Both companies have ambitious plans for development work and a letdown let-down in production will ffive Ihem more time to devote to this phase of op-erat op-erat ions. |