Show AMALGAMATED TO BE PLACED ON A 3 DIVIDEND BASIS Amalgamated Copper shares made a H. anew anew new high point this morning on the time re recent recent re- re cent move when it sold lold at 76 Eastern Easter reports report are arc to the effect that the thc large huge that thaL the copper r metal situation situation sit sit- has i reached cached a point where a good standard prIce pilco will wi be he bp maintained which will wi permit of or a a large Increase e in earnings earn earn- ings It I Is also expected that Anaconda Anacon a awil will wil at the tho next meeting of or the tors tons Increase the hl quarterly dividend to 75 73 cents a I share and thus titus place the thc stock on a a 3 dividend basis The next meetIng meeting meet meet- ing lag will wi be held within l o l 0 weeks It Is I understood that Anaconda made Is Its it 1911 copper at a a co cost t o of cents cants per pound Such uch a co cost t applied to an an annual annual an- an nual production of oC pounds which is about abut the thc present rate of or output would on a 14 lU cents copper market provide pro annual profits profs of These profits are equal lual to 37 per share on oil 01 the company's 2520 shares out out- standing Unless Amalgamated ha has sold some orIts ot or Its Anaconda a as a It I ha has ha a perfect right to do Its ownership of oC shares to which it Is Is' entitled In the ho final windup windup windup wind- wind up of the Butte Bute copper properties and their disappearance Into the tue Anaconda Anaconda corporation is equal to 73 per cent of or Anacondas Anaconda's outstanding capital In vIe view of ot the fact act that Amalgamated has has a floating indebtedness represented by notes note issued for fOI the acquisition of or the United d Metals Selling company and ant amounting with lh the lie notes given for or Senator Senator Sen Semi ator Clarks Clark's Carks Cark's properties to between betten 14 1 and It Is in conceivable that the tho directors might decide to build buildup up a fund for or the tIme payment of these notes through h sale eale tale of or some of or its treasury hol holdings of Anaconda In this connection It I Is Important toI toto to toto I to r recall the statement of President John I I D. D Ryan nan to the Nc New York stock ex exI exchange ex- ex change on May ra 18 18 1010 1910 wherein he lie reported le- le ported to the listing committee that the Amalgamated Copper company com pan as aR a a. I shareholder in the thc various arous Butte Bute companies corn com cor panics panle to be consol consolidated would receive recel e shares of or Anaconda and that the I Amalgamated hereby company compan agrees agree with wih the tho New York stock exchange a that o of tile the tle said stock so received recel ed as aforesaid aforesaid afore afore- said It tt will wil keep leep In iii its Is treasury and will 1 not part parl in an any manner with wih share hare of or said stock having a par value alue o of O. O without first Riving giving the thc New York stock stoc exchange thirty days lIS lI'S notice o of its Is intention so 80 to do dOj it I being agreed that the thc balance of said stock to towi wit wi shares 25 par value shall bo ho a free Cree asset In Inthe inthe the thc treasury treasur of the Amalgamated company corn com pany and not subject to this restriction Of or course Amalgamated to keep keer control con ti-oh ti of oC Anaconda does docs not need 73 per percent percent percent cent of the outstanding stock A much smaller percentage would answer tet er e every purpose It I would be he a surprise to toVal Wall Vahl Wallstreet Val street street street-a a shock perhaps to perhaps to discover that thit Amalgamated had been raising capital Inthe in inthe inthe the manner suggested as the thc sale rale o of any considerable amount of Anaconda would destroy the two for 01 Om one ono tradition which has served nerved so RO long as a n popular measure of the relative worth o of the two stocks I |