Daily Arizona silver belt., 1908-09-10
COPPER MINES LEAD
 AS DIVIDEND PAYERS
IN EIGHT MONTHS SIXTEEN COP. PER COMPANIES DISTRIBUTE
 $70,O25,0o0.
Higher Prices For Copper and Tn creased Consumption Expected Are Factors That Suggest Payment of Larger Dividends in Future.


 Dividends are multiplying at a rate which suggests that the metal mines arc gradually returning to their normal profit earning status as result of the higher prices and improved demand for their various products A careful com piliation by the Mining World shows that during the eight months ending with August dividends amounting to the enormous total of $27,37l,75 have been paid by sixty-two mines and met alurgical works in the United States Since their incorporation, these sixty two properties have yielded the hand some sum of $4SS,4l0,443 in dividends on an issued capitalization of $4O4, ,996,. 915.
 Large as this amount is, it does not include the dividends declared by secur, ities holding corporations, metal selling companies and other organizations that derive great pecuniary benefit from the mining and metallurgical industry. For the past eight months dividends aggregating $5,530,969 have been paid by six securities holding corporations, making total of s75,6ss,62s since their formation, an excellent showing on their issued capitalization of S24l ,926,- 900.
 The copper properties head the divi- dend list, and may be expected to con tnue to do so indefinitely. if for no oth. CT reason than that their capitalizations are far below those of the better known gold mines. In eight months this year sixteen copper properties distributed among the holders of their $79,025, ,000 stock the surprisingly large total of 0,.743,730 in dividends. Since their organization these sixteen copper mines have handed to their thousands of stock holders no less than $309, 9,293,544, or four times the amount of their outstand ing capitalization.
 The banner copper mine is the Calu. met & Heela, judging by its past record for since its incorporation in 1871 it has yielded dividends amounting to the enormous total of $l06, ,oO0 on an all. thorized capitalization of only $2,500,. 900. In the current year Calumet & Heela has paid dividends of Sl,000,00O the June quarterly being at the rate of $20 per s25 par value share per annum, or about per cent on a market quota ton of $675.
 Anaconda of Butte, capitalized al 0,000,000, has dividend record of $40, 100000 since its organization in 1895, and for eight months of 1908 it declared $l,s00,000, which is equivalent to $l.50 per $25 par value share, or about 3 per cent on market quotation of $49. Boston & Montana, also of Butte, in twenty-one years paid divi. dends amounting to $5S,375,000, which is equivalent to nearly sixteen times the authorized capitalization of $3.- 750,000. In the current year Boston & Montana has declared dividends of $l,. 350,000, or So per $25 par value share. Another famous copper mine is the United Verde of Arizona, which since it's incorporation in 1899 has paid divi- dends of $26,095,322 on $3,000, 900 capitalization. This year the United Verde announced dividends of Sl,S00,- 900, equivalent to $6 per $25 par value share. The Calumet & Arizona has unique record, for it is credited with the payment of $l0,000,000 in dividends in seven years, showing return of $50 per $l0 par value share. In 1908 the Calumet & Arizona declared divi- dends of $700,000, the last quarterly be- ing at the rate of $4 per $l0 par value share per annum, or about 3 per cent on a market value of $l25.
 The higher prices for copper, and the expected increase in consumption in the near future, are factors that suggest the payment of larger dividends by these mines.