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Show DIVIDENDS FN PORPHYRY 118 The Utah Copper and the Nevada Consolidated companies on Friday declared de-clared their regular quarterly 'dividends 'divi-dends the Utah Copper calling for 75 cents a share and the Nevada Consolidated 37 1-2 cents a share. No dates were given vesterday. but It Is presumed that tho dividends will be checked out on tho last day of March. The Utah Copper company will draw 51,171.287 50 out of the bank to meet this disbursement, and tho Nevada Ne-vada Consolidated will have to draw $749,772.75, of which latter amount the Utah Conper companv will se-oure se-oure ?37C,187.bO bv -virtue of Its ownership own-ership of 1.000.500 shares of Nevada Consolidated stock. With these payments pay-ments the Utah Copper company will have distributed the grand total of $12,872,550, the .Nevada Consolidated company $7,479,311, a total of $20.-351,861. $20.-351,861. with which these two pioneer porphyry copper nroducers have en- rlchod their stockholders since beginning begin-ning operations. It was the success of the Utah Copper Cop-per company of Bingham. Utah, which Inspired the Nevada Consolidated enterprise, en-terprise, and it was the success of these two which gave rise to tho modern porphyry copper industry which now boasts hundreds of mlll-I mlll-I ions of tons of de eloped ore of a grade not heretofore considered of commercial value, To the Wall Street Journal a loading load-ing interest In the Utah Copper company com-pany puts an offectual quietus upon rumors of an increase In dividends. Ho says: "The Utah Copper company com-pany positively has not the matter of an increase In its dividend rate under consideration, nor will It lake up the matter jiov, nr next July, nor next' Oct,ober cither, for that matter, "We are running the company as a manufacturing enterprise, not a stock jobbing concern. Oh an ultra conservative basis' tho company would be paying ho dividends at all at the present Ume,"but It did not seem necessary nec-essary to keep the stockholders waiting wait-ing for two or three years before receiving re-ceiving any- returns on their Investments. Invest-ments. The-companv has" a tromen-dous tromen-dous amount of stripping to do and It Is our intention to accumulate as largo a wofkingr capital to tako care of the stripping operations and to en- large and Improve the plant as shall be necessary to keep lt thoroughly up to dato and for other improvements improve-ments that may be required from timo to time. "It makes no difference If copper goes to 20c a pound. Utah will not increaso the present dividend rate In tho Immediate future." |