Bisbee daily review., 1918-03-24
YAvAPAI SHELTER TO INCREASE DIVIDENDS
 AND CURB BUILDINGS
Former Director Wins Fight for Larger Distribution to Stockholders and Curtailing of Extensions.
Special to The Review,

ASpecial 10 The heNleW1 i PRESCOTT, March 23.-A persist ent campaign against the greatly cherished plans of the directors of the Consolidated Arizona Smelling com pany for expending large sums from it's earnings for extensions during the next three years and stiff fight. out side the courts. for larger dividend payments to that company's stock holders, which has been wager for six months by A. F. Cortis, a former director. have at length brought about the desired results.
 Relieving that a troublesome litiga- tion would follow MT Cortis' eonten- ton for a speedy reduction of expen- ditures for the coa'emDlated exten- sions and for bigger dividend distri- buttons on the stock, the directors of the Consolidated Arizons Smelling company have agreed to yield to his demands and to make formal an- ncuncemont of their abandonment of the extension policy and their decis- ion to make heavier dividend pay ments at a meeting scheduled for April 8.
 In fact. the whole controversy has now been amfcablv settled and Mir. Cords. who resigned from the com pany's board last fall in order to be free to conduct his contest toward this end. outside the directorate. was readmitted tot his body at the ap- preaching meeting.
 It is understood that two other new directors, possessing practical knowledge of the copper mining and smelling business. will likewise be elected to the company's board. which now consists of nine members. As the number of directors will not be increased at the meeting next month. 1t is obvious that three of the prese- ent board members will have to with draw. but 1t has not been ascer- tained to date which of the existing directors will retire to make room for MT. Cortis and his two asso- ciates.
 The Consolidated Arizona Smelt- ing company's directorate now In. cludes: c. A. Kittle. president; E. 8. Hooley and F. A Dillingham;, vice presidents; F. w Thompson. secre- tary-treasurer, and R. E. Kelley, H. E. Rogers, J. H. Flagler. C. w Hill and R. M Thompson
 It has just been learned that the new roasting plant of the Consoli- dated Arizona Smelling company has been blown in anf that the company's copper production has been increased considerably thereby It's output in February. a short month. was in- creased approximately 250,000 pounds to 2,705,o00 pounds. and it is ex- pected that a maximum production of 3.000.000 pounds will be reached in April
 The company was incorporated on December 22. 1908. under the laws Of Maine. It has an authorized capital of $9,200.000 it's shares having par value of S5. and of this 1,6630CU shares. having a total par value or ss.315.000. have been, issued while 177,000 shares. having total par value of sSS5.000. hvae been reserved for the conversion of that amount of per cent 30-vear income bonds, ont of a total authorized issue of s1.- 200 900. Company also has outstand- ing s250.00O Of per cent 20-year gold bonds, out of a total authorized is- sue of ,1.0oO.0O0. but it was decided last June to purchase all of these out standing per cent bonds and to pay for same over period of three anu a half years. after which the com rany would be free of mortgage in- dehtedness
 The directors declared an Initial dividend of 10 cents on June 2s. 1917. and since then the company has paid : cents a share. on August 15 and November 15.
 Its earnings for the first nine months of 1917 reached S5s5.777. as compared with s56s795 for the core spending period of 1916. VI
 The company has 70 claims or which 20 are patented. covering 7?5 acres near Mayer snd Middleton. in YevaDai county. Arizona 1ts most valuable mines in thase claims are the Blue Rell and De Soto Its smell ter Is at Humboldt
 The management has planned many extensions to it's reduction plant. on which it has expended s35s,4S2 fin 1916. The capachy of its plant. which had already heen increased from 22O tons. in 1sl6&to 500 tons. in 1917. was to have been expanded further this year