OCR Text |
Show UTAH CON. DIVIDEND. The next Utah Consolidated dividend will be declared in December and will be $3 per share, unless the company should suffer some calamity, is the report that comes from Boston and New York. The company, is now showing profits of about 15 cents per pound on -the production of about 20,000,000 pounds per annum. The company is treating 950 tons cf ore daily, which averages a little better bet-ter than 3 per cent copper, with sufficient suffi-cient gold and silver ' values to bring copper costs below 5 cents per pound. The earnings are at the rate, of jjsiO per share, and if the stock goes upon a $G basis this rate can'be maintained. Utah Consolidated is an investment proposition, and its surplus is said to be large enough to warrant the maintenance main-tenance of dividends at the rate of $6 per annum, even though copper prices decline, as the company can earn $d per share for ita stock on 14 cent copper. cop-per. The mine is conceded to 'be opened five years ahead, and it is known that it could be opened fifteen years ahead at the present rate of production, if it was desirable to do so. A winze waa sunk some time ugn 150 feet below the lowest level, and the showing waa better ' than 3 per cent copper, with the average gold and silver sil-ver values. |