The copper era and Morenci leader., 1912-11-29
IN i. \. 1HE5 M IVES
D|V|DENDPAY HAS BECOME CON-
 TINUOUS

During the ten months ended with September, Al American mines and metallurgical works enriched share holders to the extent of $S2,812, ,52S. This compares with the disbursement of $71, I'll, ,74S by 142 companies in 1911 and with $64,304,SSS by 12S compan- i ies in 1910. Since incorporation the Al companies, mentioned above, have paid dividends totaling S7S9, S4S, $50, which amount is nearly S70,000,0G0 in excess of issued capital. When it is taken into consideration that a great many of these properties have been in operation but a few years this achieve ment is all the more remarkable.
 It should be borne in mind that, while the above performances are fair ly representative of what American mines are doing, there are hundreds of other companies privately owned and otherwise, which do not give out any statement of their operations, but are known to have distributed millions l>ip dividends to shareholders. Then too, there are the individual .perators and prospectOrs, who each year, add considerably to the wealth of the coun- try.
 Then, too, there were nine securities holding corporations, whose profits are derived from their holdings in oper- ating companies who disbursed divi- dends during the year amounting to STE. .51 ,530. Since incorporation their disbursements amount to $149, ,790, ,SS2. This compares with $11, ,92S,951 paid by eight corporations in the same per iod in 1911.
 Of the Al companies paying divi- dends in 1912, 106 are classed as gold Silver-lead-Zinc producers and their dis bursements for the year were $31, ,571, 530, with total to their credit since incorporation of $279,469, ,532, which amount exceeds their combined issued capital by S5,562,617.
 That copper has come into it's own is evidenced by the dividend disburse- ments made so far in 1912. Twenty eight of these are credited with dis burSementS for the year Jotaling $3S, 47S,20S, and since incorporation S372 99z,745. This amount is $40, ,631 ,663 in excess of their com bined outstand- ms capital. Of the 2S companies par .icipating, 26 operate properties in the
 United States with dividends paid to- taling S34 4940, ,696 That dividend pay inS is a continuous performance by these companies is shown by the fact that they. have divided among share | holders since incorporation no less than $361, 973, 1902, which is $15O,665,- 165 in excess of their combined issued capital.
 Of the 1O6 so-called gold-silver-lead- zinc properties, 73 are operated in the United States. These during the 10 months of 1912, paid dividends total ing S1S,364,55O and since incorpora- tion $179,376, ,391, which is S5,159,1S in excess of issued capital. Seventeen Canadian companies contributed to the total during the year SS,279,7S7 and since incorporation $41, ,S67, ,22S. Considering the few years that nearly all these Canadian companies have been in operation, this is indeed a gratifying record. Despite the con- llnued warfare in Mexico few of the mines have been operated profitably during. the year, II paying dividends totali1g5 $4, ,S97, ,193, the total disburse- ments of these. companies since incor- poration amounting to $55, ,913, on Ia combined issued capital of $30,904,- 300 }- -s= SIX metallurgical companies have had prosperous 10 months period, for .$12, ,642,79O was divided among the shareholders. Since incorporation dis bursements total $135,750,973. This compares with $11,561 1928 paid by the same companies in the same period in ~J11.