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Show uu MEXICAN SMELTERS CAUSE FOR VORRY. Irs smelters in Mexico have been a source of tribulation to the American Smelting & Refining eompauy this year. An authorit In reviewing the subject says: "Starting with prospects as bright as could reasonably have been asked, the ear 1913 has proved one of disappointment dis-appointment for the American Smelting Smelt-ing Refining company and Us subsidiary, sub-sidiary, the American Smelters Securities Secur-ities company Early In the year the Situation in Mexico, where from a quarter to a third of the company's Interests are, became very unsettled. The new administration was unable to maintain order In the northern provinces of Sonora and Chihuahua and the smelting company had to con tend with the old difficulty of con- I Btantly Interrupted railroad operations, j with consequent Inability to move In i snppllps ami ship out bullion. Time and again It became necessary to shut down the mines and smelters at different points for varying lengths of time. Nevertheless, tho company succeeded In showing in its report for thf first half year profits equal to 4.12 per cent In the common stock. -as compared with 4 76 per cent for the same period In 1912 In brief, the corporation earned Its common dividend for the year In six months, although this showing was made in considerable degree at the expense of appreciation charges, which were cut from $1,209,000 In 1912 to $588,000 Gross income fell off nearly (1,000,000 as compared with the previous year In the second half year matters I in Mexico wont from bad to worse Operations during the first six months were at about 75 per cent of the rated capacity of the Mexican plants, but it is doubtful If the last half of the year will show better than 50 per cent. At this time of writing the company, of its five Mexican smelt-ers, smelt-ers, is operating only the Aguascai-lentes Aguascai-lentes plant, although It Is hoped j dally that some of the plants may be able to resume." oo |