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Show Bingham Mines Co. Forge Ahead It is estimated the earnings of the Bingham Mines company for August Aug-ust amounted to approximately $70,- 000. Under the able management of Imer Pett ,the company is making ex-riellent ex-riellent progress not only in their Bingham property, situated on the Lark side of the hill, but also in Eureka, Utah where they have some valuable claims. In the first six month of this year earnings after tax reserves, but before be-fore depreciation and deletion, amount ed to $247,000 or $4.41 a share on the 56,000 shares outstanding. This company with operating net of Only $87,000 in the first half of 1924. With July and August reserves for taxes not included, this prosperous lead producer in the eight months to September 1, earned operating net of about $354,000. This is equivalent to over $6.30 a share on the stock and is over three times the present annual an-nual dividend of $2 a share. On the current lead market of 9V cents a pound Bingham shows substantial sub-stantial earnings. The treasury position posi-tion is sound, and by the close of this year it is quite likely a further reduction re-duction in share capital through purchase pur-chase and retirement will be made. It is understood to be the aim of the management to keep Bingham's stock its only capital liability at around 50000 shares. On such a financial fi-nancial structure, and with even a reduction in the present lead market, Bingham could earn and maintain a dividend considerably higher than the prevailing 50-cent quarterly rate. |
