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Show DIVIDENDS OF IDE COPPERS UHCERTAHI Meetings that were to have been held last week by directors of the Utah Copper Chino Ray and Nevada (.onsolldated relative to the quarterly, dividends have b'-f-n postponed until this week, and. according to one Ot the din ctors. the meetings may not be hei.j Mils week, due to the Inabil Ity of getting a quorum No action' is likely to be taken, it is- snid. until the metals market clears up respect lng copper Managing Director lack ling ia spending a vacation at Inland Park with 8. W Eccles. He said be fore leaving t hat he was In no posi tion to make a statement regarding the copper situation or the question ot dividends As lar as the compa-nil compa-nil s mentioned arc concerned, there have been practically no sales Qf copper, cop-per, and some 0f the directors are' of the opinion that the cash on hand Bl DUld he used to carry the copper 1 The News Bureau comments on the' situation as follows- The world Is making hlslorv so' last that the directors will not en ture an opinion as to what anion will be taken. It cannot be denied tha' on a F.O ppr rent scalp of operation none of these companies can show dividends earned on a 12 l-2-cent copper market " It is jnet as true, however, that for the second quarter of this veflr the period covering the divldeuds rill of thesp companies, Nevada Con! solldated excepted, showed a verj comfortable surplus above dividend necessities, Utah particularly earning at the rate of $8 per annum. It was' ! by all odds the biggest three months in the company's career, production being 40,017,000 pounds and col 7 1-2 ' cents Crediting Bingham & Garfield : railway earnings against mining ex-r-i nscs and the cost Is reduced to j 3-4 cents per pound of copper. Of course all of these companies are ' carrying copper and borrow inc apainst it. and while Strictly speaking surplus earnings can be shown, the ; actual cash on hand is probably In i sufficient to meet dividend checks. Eut this is a situation which frequent ly confronts the copper producers: it ir nothing new. I A representative of this group of : mines said: "We shall delay consideration of j dividends until the last moment, because be-cause we think that as the European ' war broke almost without premoni-, premoni-, r'en. so there may come as sudden a change in the foreign situation that Will enable us to see a ray of light and govern our actions accordingly With that probability ahead it would be foolish to make predictions now. Six weeks ago the copper situation was most promising. World's stocks were very low. business in this conn try gave promise of revival, and that was all that was needed to give the strongest fillip to the copper market. Now we are In the midst of war. "In any event, there can be no question about the future of copper Copper Is an industrial necessity, and while demand is hound to be affected as long a the present situation exists. ex-ists. It is bound to come back stronger strong-er than ever when the clouds clear away. Export shipments are gradually, gradu-ally, being resumed, and the present reduced rate of production makes it unlikely that there will be ;ny great pilingu P of stocks Copper people arc- prepared to weather the storm in company with other Industries' affected affect-ed by the strife of nations ' nr |