Show I UNCLE SAM MAKES ITS IlS DIVIDEND THREE CENTS Desire to Accumulate Surplus More Conservative Conserva Conserva- I Prompts i tive five Rate Dir Directors Clurs of the Uncle Sam Consolidated Consol Consol- Consol hinted Mining com company pun at at their meeting meet meet- Ing yesterday posted a dividend of three cents a share or payable November 20 0 The bool books 8 close for transfers on the and reopen on the tIme Oth The he Ma May Day company pas passed ed its us IV dividend dJ for the second month The he companies have havo o ha both suffered by reason of or the further decrease Inthe Inthe in inthe the of or silver and ami lead making makin their net earnings considerably less than was counted upon at toe the time production was nB resumed Ja last t summer This to together ether with wih the desire of tho mana management of both loll companies to ac accumulate accumulate ac ac- cumulate larger surpluses than they have bave been carr carrying in resulted In tho the reduction of ot the tho dividend b by one and the passing of or its Is dividend by the tho other One who is close to tho the Uncle IncIo Sam SamId said Id yesterday esterday that the company could continue paying live cents a month so far as the present outlook goes oes but Lut for tor the desire to increase the cash surplus In the treasury At the timo timothe timothe the paying pa of ot a live cent cent dividend was Inaugurated he explained it was not done so much with wih the Idea of making that tho the regular rate as a It I was to tomake tomake tomalee I make malee up for tor the dividends that were lost during the time that the smelters I were closed ed down co The TIme Idea was to average up tho the dividend div div- rate at about three cents a share That is about Uncle Sams Sam's safe normal nor nor- mu mal earning capacity under c existing conditions R Results of or Improvement of at tho the metal market and arrangements to Increase production at the tIme mine would be bo all al to the the good I |