Show N WI v U BIG BI GUT OUT IN PRICE OF LEAD i Affects Only Shippers Who Have No Contract I With Wih Smelter METAL OUTPUT OF l Interfiling Iino ft I arike rl lie In III limo tho Star Con Minim Noire The expected cut CUI In the tho selling price of o lead leall Ima hn ha come como as ars 19 far as lS the small producers producer are concerned who have hac no contracts with wih time the American Smelting and amid Kenning company will wi hereafter receive r elve only 40 per Iler er hun bun hundred hundred dred tired for Cor the timo actual lead contents of at their ores Instead of or which has prevailed fir t some seine time past The cut will wi seriously ly a n number of t lens leas leasers leanore ers ore and prospectors who ship nhip an nn occa occasional occasional Monal car cor of ore o c For rot the present nt ut least It will wi not li ot t affect neet the ship shippers shippers pers pore who have tied ted up their product pro luct for tor periods ranging from January 1st to late next spring While these corn com companies cor are arc ar not Immediately inflected affected their stocks stock shrunk strunk s on time the exchange today tony because the above cut Is taken as M an nn omen of ot lower prices for tor all al of Cr at the expiration of ot their present contracts A cut of ot 50 cents per hundred Is ser nor serious ious bus but U It Ills Is in not nt 10 o bad as many pee poo pie plu ImagIne For lor It If It should Iw he h made In i tho the Daly new con contract contract tract In January JanUar the company will wil be bo deprived of or per ter or month which now Koes gocs Into tile the Ue treasury This sold nab sad SI 81 SImOi Simon mon mOi lamberger today toda was fully tul die dis discussed cussed when tho the dividend was raised rained to 40 10 cents a share Previous to that raise the tho company compan was accumulating a 1 sur surplus plus Illus at nt the rate o of I from frolin UV lIJO 0 to 00 per lIar month Tho The Increased dividend of at Jer per pei month will wil cut the th surplus down to about per Cr month und and If It the price of lend lead Is I L cut SO 50 0 cents cente per er hundred the surplus earnings will wIl be le cut CUI down to 10 about 10 per month The rho company Is I however making ar tar ts to Increase its output of or crudi ore which Is U expected to offset tho th cu cut when It i comes The Uncle Sam contract expires next March so i that the price of ot lead lall s no 1 difference to 10 the company before he lore that time At the present rate of ot ship shipping ping a cut of ot 50 EO cents per hundred would decrease the profits about nh ut S 2500 2000 WO per month The he May tny Day Da ore carries 30 to 50 per cent lead lell which at the tho present rate of or chipping would bu be a 0 loss of ot about 1500 0 per to the corn com company cor pany pan The company will vIlt wi not 11 feel teel the change before summer as ns Director Drector Larson Larsen says the tha output Is Isted tied ted up under contract contract until that time The Silver SIer King Inc ores carry nearly 50 DO DOper per Iler cent lead and such n a I cut as Ol that contemplated would cut oft off or the monthly revenue by hy something lIke le per month It I Is I said the company compan can easily easU this by one small lot from the he 1300 10 level 1001 where here ore Is la being en encountered countered which runs between betle n 20 and 1100 00 per ton Ion The California ore Is II sold under the Anchor contract contract The same name Is true truo of all tho the principal companies to Co that the present cut at nf feats only the occasional shippers In un Inthe the he opinion of ot Assistant Manager Iana er Smith of ot the tine A S B R n company compan It tt will wi be necessary for tor the lead output to o be curtailed until the present surplus Is s worked oft off of after which better beter prices will wi prevail |