| Show Up and Down own the Street Rico Money aney 10 Stock Dividends By Robert W. W Bernick Rico Argentine Mining Co directors directors directors di di- rectors Wednesday declared both stock stock and and money dividends Sherman B. B president president president dent of the firm said that a 10 I Istock stock dividend would be paid on onor onor or before Dec 21 21 1951 to shareholders shareholders shareholders share share- I holders of record Nov 21 This amounts to shares bringing present issue to shares Those holdin holding 10 shares or less on the record date dale willbe will he be paid 3 per share for foi the fractional fractional fractional frac frac- holdin holdings s. s At the same time another lOc I 1 per share dividend was announced announced announced an an- by the firm Second Payment Made Payable on the same date based on the same record holdings holdings holdings hold hold- ings as the stock dividend this payment is second made by the firm this year ear A lOc dividend was paid in September of this year i j This total of Oe in dividends i compares with wilh paid last year j I Value of the stock dividend is I estimated at on basis of current market quotations Mr i Hinckley said that Rico was able to lo pay the dividends because the firm finally had acquired acquired acquired ac ac- ac- ac in excess excess of in innet innet innet net quick assets He added that net profits of the firm this Ibis year ear were expected to lo be double profits made in 1950 1930 from the Colorado zinc lead-zinc- silver mines Selling Iron P Pyrites rites The firm president announced that Rico now was selling iron pyrites to lo uranium and vanadium processing firms on the Colorado Plateau He added that investigations investigations were ere being carried out on possibility of utilizing reserves of the material for production of sulphuric acid what acid what the urani- urani I Iriles vanadium urn firms use the py pyrites pyrites py- py rites riles for Mr 11 Hinckley said that lead concentrates from rom the expanded 1 mill operation at Rico nico Colo Cob i were being shipped to the Midvale MidI Mid- Mid I vale Utah smelter of the United States Stales Smelting Refining and andi i Mining Il Co Zinc concentrates arc are sent to the Black Eagle j Mont 1 smelters smellers of the Anaconda Copper i Mining ning Co PARK CITY NET Net Net Nef income before depletion of for the tune nine months ending Sept 30 1951 was reported reported reported re re- re- re ported Wednesday hy by Park Utah Ulah Consolidated Mines Iines Co It compares with a net income of or for a similar period in 1950 But strikes cut into inlo earnings s last year Paul H. H Hunt vice president and general manager df of the Park City operation reported An eight day strike during the third quarter of this year also I impaired earnings as did heavy I expenditure for exploration and development work Park Utah was ahead 2 at end of the first six months of this year in distinction distinction distinction I tion to the net income of 93 03 reported at conclusion of the nine months of 1951 |
