Show UI U. Sl S. SMELTING CO EARNS O O FROM COAl That the United States Stales Smelting company corn com om- om pany panT made an a excellent purchase when hen the Utah coal mines mine were ere acquired d Is proven by b. b a a statement from tho the Eastern Ester offices to the effect that a profit Drom of or was ns shown on its Is fuel production produce tion ton from these thue pro properties last lat year ear While the tho company Issued no notes es to cOer cover this This investment a a. large portion porton of or this amount was wu set set aside aside- to tobe tobe be used In the construction of a railroad line lne This Thin ThIl lino Uno traverses a rugged rugge portion porton por par tion ton of the mountains in the southern part of the state and Its Js construction is isone isone lI one ono of tho the expensive pieces of railroad work in the West WesL West Before this line lne Is 1 completed and some additional coal coat land landI landIs Is I to rounded bo be done out more financing will wi have ha e It has taken a a Jar large e amount of money mone to got Jot possession of the extensive properties owned b by this concern In th the United States and od Mexico as Is evinced evince by its preferred stock Issue hleb amounts to On this large hUGe capital capia tho the company has ha never failed t tallow to show how a a. B substantial surplus over o er Its 7 pc per percent percent cent dividend requirements Tho The annual anua report of the company which 1 Ia Is now beIng beIng be be- Ing prepared for tor maln mailing to stockholders prepare will 11 probably show profits somewhere between between be be- tween and or better botte boter than 5 15 a A share on the 17 com common COI- COI mon stock stok Dividends of 3 43 a B share ar are bring being paid pate on this Issue Isue From these statements it I Is apparent that this company is earning earIng a a erable surplus over disbursements madon made mad on both preferred and common stock tock Ahead of or these Issues however Is II U.- of 6 5 per cent coupon notes du duo Au August 1 I 1914 H. H and a contingent ent liability in tho the form for of a principal and Interest guarantee on the notes use used for the tho purchase of the tho Utah Ulah coal properties prop prop- erles bearing 6 per cent and due Apr April 1 I 1917 11 Good earnings are shown from the coa coal properties which h produced and shipped tons ton during durin 1913 This lion will bo ho materially Increased this 11 year car ton and further raised from time t to time after the company compan hns been bee completed and the properties arc more mor extensively developed While this most mos excellent condition Is shown In its Is nc new v coal lands it IB is to bo be noted that that- tha prOperty property prop prOp- erty developments In several instances Instance were not up to the expectations during the past year yer Tho The company compan has been most fortunate In securing a steady and Increasing revenue from Its Is Mexican sll all all- sl- sl vcr ver properties despite the activities o otho of at atthe the tho revolutionists in that country countr From this report It is e evident that there thero 1 Is nothing in I sight to Indicate that th the company will not continuo continue to show a largo large surplus wl over or its Is dividend require ments All of Us Its is properties smelters Al and mills are arc conservatively managed manae and It has a n diversified source of Income from mines its 15 gold silver siver and lead producing |