The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1918-09-26
.HECLA TO O|SBURSE
DIVIDEND SATURDAY
1t Will Be IS Cents
and Amount to
$15O,OOO.
TOTAL PAID $7,1O5,OOO
Normal Outpue Maintained
New Level Big Addi-
ton to Reserves.

| o"iht'i y, lliS iiSSitl hiHiiib NpIii-
pany will pay a dividend next
Saturday, September 2S, in ac-
cordance with action taken by the di-
rectors Of the company a few weeks
ago. The disbursement will be at
the rate of IS cents per share and
will amount to $150,OOO. The Janu-
airy dividend was cents per share,
or $4,000, making the total payment
this year 100000. Last year the
company dlsbursed Is cents per month
throughout the year, with the excep-
ton of November and December,
when the rate was cut to cents in
anticipation of having to pay heavy
excess profit tax, and for this reason
dividends were suspended altogether
after the January payment. The dis
bursements for the year 1917 amount
ed to $1,6OO,OOO which brought the
total dividends paid by the company
| up to $6,905,000. This total will now
be increased by the addition of $780,
OOO this year, making the grand to-
tai $7105,000. In the official an
nouncement of the current dividend it
was stated that hereafter dividends
would be paid quarterly instead of
monthly, in March, June, September
and December, on the 28th of the
month to stockholders of record on
the list, 1t Is generally believed that
the company will continue regular
quarterly dividends, but on this point
no intimation has been given from an
authoritative source. The company
is still up in the air on the amount of
its war tax, and until this is definite
lN settled it is not likely that defin-
ite dividend policy will be outlined.
Earning Large Profits.
Although the Hecla company has
experienced considerable difficulty in
maintaining an adequate force in the
mine, due to the general labor short
age, the management adopted meas
ures to overcome the difficulty which
have been successful to an extent
that has enabled the mine to main
tain practically its normal produc-
ton. The companys mill at Gem Is
running at full capacity on lead ore
and the Standard mill of the Federal
company, which is under lease, Is
| from the Oreornogo vein.
According to the official statement
issued in connection with the an
lnCuncement of the current dividend,
during the six months from January |
to June 80, this year. the company
earned a net profit Of $1,15O,247 1t
Is safe to assume that this record is
at least being maintained during the
last half of the year. for the usual
output Is being maintained, and while
there has been a substantial wage in
crease and possibly other additions
to operating expenses, these have
been offset by higher average prices
Of lead, zinc and silver.
Ore Reserves.
The annual report of Hecla for the
year ending December 81, 1917, esti-
mated ore reserves in the mine at t.
326,399 tons. 1t is probable that these
figures would be a fair estimate at
this time, although it Is possible that
the labor shortage may have prevent
ed keeping exploratory work as far
in advance as has always been the
policy of the management. The ex-
tension of the shaft from the 1900 to
the 1000 level has been completed,
and large station is being cut on the
1000 preparatory to exploring the ore
bodies on that level. Assuming that
the ore will be found of the same
character and extent as that in the
present workings, the opening up of
this new level 400 feet below the pres
ent lowest level means tremendous
addition to Hecla ore reserves, with
possibilities of further additions as
new depths are attained.