New-York tribune., 1907-09-11
CUT COPPER Dividend.
Calumet & Hecla Com panys Actiom
HELMS Send List Dozen Here.

cusrte-Iy dividend Of the Calumet and Hecla Cop
Per Mining Company was announced to-day. the
directors declaring dividend Of S5 snare
against so three months ago
While no statement regarding the dividend Tas
issued By the company officials. il was learned that
.he reduction due the condition Of the metal
market and tbs general conservative attitude OF the
company. The dividends paid by the Calumet and
HecIa company last year amounted TO So the
largest since 1910. when the same amount vas paid
although in 1899 800 paid The stockholders
have received since the formation Of the company
500 $4,000 IN dividends
Weakness of the copper market here and in Lon
don and the reduction by the Calumet and Hecla
Mining Company of So in its quarterly dividend
from go to IS g share were seized upon by op-
orators in the Stock Exchange yesterday as justi-
fcation for heavy selling Of Arlalgamated Copper
with which the whole list declined sharply The
success of the city bond sale. the PENNSYLVANIA
court decision declaring the two-cent fare law IN
that state unconstitutional and the fairly good
government crop report were bullish developments
which were disregarded AmaigaInated. on sales or
1ssDgo shares was forced down to 66i2. many stop
loss orders being uncovered on the way, ana
closed at e6+ net decline Of II points closing
prices were in general practically the lowest of the
day and among the net losses were pa points in
Anaconda - points in American Smelling and
Refining. 3ss in Great Northern in Northern
Pacific 2ss in Reading. 2hs in Union Paclhc, ls
IN St Paul i, IN United States Steel preferred. ~
IN Delaware &
trsI Colorado Fuel and Iron preferred, an eE-
rrer1ely inactive issue. lost % points from IT'S last
-reoeding transaction a sale of 100 shares.
On the Metal Exchange the quotations for lake
copper were reduced !. cent from Monday. stand
.ne now 1easc bid and 1Tl<c asked Big con-
surrners are understood to be holding of for q
further price concession before buying the metal
sn quantity being determined not 10 pay the IS
cents fixed by the principal producing companies.
and meanwhile surplus stocks are rapidly increas-
snE in size.
The Calumet and Hecla Company, in its div1-
send action yesterday. followed the policy of the
Quincy Copper MIXING Company, which on Au-
gust Is reduced its quarterly dividend from 81 to
& 50 share The Calumet and Hecla's Sl5 diyl-
.seud which Is payable September 2S is equiva-
,ent 70 per the par value Of the shares be-
ing s2a In April and June the dividends were each
20 Der cent or so a share The dividends. reck-
oced Il percentages. have steadily increased for
seversl years. In 1902 the declarations totalled 40
-,er cent: IN 1873 40 per cent; 1904 lse per cent;
sos 20 per cent; 1856 23o per oent-these figures
corresponding the Improvement in the copper
market The Wolverine Copper Mining Company,
another big producer. IN April paid 80 a share in
dividends the largest declaration in its history:
and this company Is expected at the next dividend
meeting which is to be held, 10 declare a
ser,1,-aunual dividend, which will be smaller than
that IN Ar,rtI.