Show iu U. U S. S SMELTiNG CO PUsi II HIGHER IGER DIVIDEND ON I ITS COMMON IThen Ii I i When Then the United States Smelting Smelling Refining Re ne- fining Mining company compan posted its Us quarterly dividend a few days ago the directors appear to have come to a compromise compromise com corn promise agreement between two to factions one of which wanted a 3 dividend nd and another that wanted 5 S annually paid on the common stock stoel A 4 rate was agreed aged upon and the annual report showed that I o the increase In earnings during 1915 amounted to The report from the main offices of ot the company in Bo Boa Boa- Bo- Bo Boton 5 ton just previous to the announcement of ofT the i dividend was as follows a n It I is I u understood that that developments development sim- sim jiU ilar to th those se that tha t occurred at the last lat dividend session o of United States te SmeltIng Smelt Smelt- ing lag directors may arise at meet meet- ing lag At that time there was toya a wide met met- dif dir ference ferenc of ot opinion over the dividend pol pot icy some directors favoring an increase others an extra exta and the majority no change morty I It is known knon that there is still sti a difference differ ence once of opinion among the leading directors directors tors as a to how far it is advisable to In Increase Increase increase In- In crease disbursements at the moment or at least until unU a more definite defnie line lne can cn be had ha on the outlook for metal prices durIng dur dur- ing tag the second half hal of the year Moreover Moreover More More- over there is a strong desire desir on the part of the management management the the same desire that exists with many corporate heads particularly the metal producers to to run strong in cash There is not much doubt that there will willbe willbe wi be an Increase in the 3 common dividend rate ordered but it is an open question queston whether the flat fat advance to 5 that is favored by a certin certain portion porton of the board will wi be approved at this time It I is felt that despite despie the company's company rapid rise to affluence during duing the tile past PUt six months a ago ago ago go slow policy is the part of financial wisdom and foresight With the rise in sliver silver siver to 61 a cents an a ounce the highest price since the fall fal of ot 1913 and with lead at the record high figure of 8 cents a pound Smelting company corn com pany earnings are of course reaching com I figures never surpassed Current profits are running between 25 and 30 a a share on the common Continuance of such earnings is likely to Increase the pressure for larger disbursements at the next dividend meeting no matter mater what course cuse is decided upon by directors today |