Word: dividendâ
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...dividends thereby creating goodwill and confidence of stockholders. I have always advocated that policy and believe that the American Smelting & Refining Co. will continue to maintain the dividend now." Eight days later Smelters shareholders were chagrined to hear that the directors had ordered a 25% reduction in the dividend???from $2 to $1.50 (against $4 early this year). Either upon returning to his office President Guggenheim had seen figures much poorer than he expected, or else the Smelters directorate, ten of whose 25 members are employes of the company, had voted the onetime (1907-13) Colorado Senator down. With...
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