The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1885-11-18
TIT MINING INDUSTRY.
A Glance at the Dividend Pay.
ing interpretations.
- AHEAD
Of All the Other States and Territories
in the Number OF Paying
Properties.

ing said in the press as to dividends and
the mines that are paying them, and a
glance into the subject will interest many
persons. The latest returns reported, OF
course are for the month Of October. and
thew are a sample of the balance OF the
wear. During that period there was reported
10 the New York Exchange the payment OF
dividends from the entire United States by
only fourteen mining interpretations, ana
OF these four are situated in the territory
of Montana, and are as follows:
Alice,
Hecla, Glendale.".".".."...""..... 1o'OOO
Helena, 5000
Moulton, Butte."..""-..".""".... So'ooo
During such a time OF general depression
this is a splendid showing Tor Mon
taua, and it is one that will be steadily
maintained, barring an accident. The low
price OF both copper and silver has much
to do with the small number OF properties
which are now returning dividends to their
stockholders. With silver down to Sl.02%'
which was yesterdays quotation, nlgn
rates Of transportation, fuel, etc., IN m os1
of the mining sections the silver producers
are certainly not in a condition to do much
more than pay their way, except, as IN me
case of some OF the Butte mines. where the
veins are very wide, the facilities are such
that the ore can be reduced cheaply. and
the managements are 10
an extreme. Butte's mines especially are
worked for every dollar there is in them.
The heavy silver producers-the Moult0n,
Alice and Lexington-have their mus
almost at the collars OF theirshatts, so tnat
the cars are run from the. cages lnto ene
mills without any handling, and every Up.
pliance known for the saving OF labor ana
other expenses around both mine and mill
are to be found on every hand.
The showing for the coppel-yleldlng mines
in not 40 favorable as that OF the silver
mines, as not one OF the great copper
v;elders paid q dividend in October, even
The great Calumet and Heela being forced
tn mass it's dividend, or at least none ls re-
ported for it. The price OF copper Is TOO
low to allow OF much profit to the produc-
er. as will be seen by the following quota
ions. taken from the Mining n Engineer
ing Journal: n.y. ,,,a
ooDuer at 10 .S5611c; Oxford and Balti-
more. 1O@1OAc. We have been advised
that the sale Of some 100000 pounds VI
Parrot copper, as published in our last Is
sue. was not at less than 10 cents.
Chill bars were quoted on the 31st ult. AZ
Gao 7s Cd: on the I'd at f39 15s; on the Sd
at Gao los. and on the 4th, 9Th n 9th at
f39 IA. Best selected, which was quoted
on the 31st ult. at f45, sold to-day at f44
los. -,
A correspondent OF the same paper VINO
las made inquiries into the subject, gives q
lengthy resume OF his labors, including "a
comparative table OF the price, production
and consumption of the metal in Europe
for the past five years, ana thus comments
on the same:
.sThese statistics show that, in the TOUR
wears ended September 80. 1885, the ex-
cess oil supplies in Europe over consump-
ton was only $3.50 tons; yet during this
period Lake ingot copper fell from ~ cents
to II cents a pound, and Chill Bars iell
from Ell to f4O los. a ton. And in the
wear ended September 80, 1884, although
consumption exceeded supply by nearly
5000 tons, yet Chilli Bars declined from
s63 to f54 2s. Cd. The figures show thai
the increased supplycame entirely from the
United States, the supply from the rest o.
the world having in fact decreased. NOW, In
marketing their copper, our producers were
not willing to sell in small quantities IRON
week to week, as the demand called Tor III
but insisted on selling at once large quaint
ties to be delivered overs series OF months
The smelters naturally refused to buy al
fixed prices. and the sales were therefore
made on a ~sliding-scale based on the prlce
present price GAO 1885, one.haif' OF the cop.
per necessary to supply the worlds de-
mand is produced at a loss; Sooner OF
later, the low price will bring the specula.
tors to the other side of the market. Silver
is no longer falling, and the Anaconda, it is
said, has made it's last sale at a fixed price;
while the Calumet & Hecla contract will
probably not be renewed. And with these
changes, l ' venture to prophesy an advance
in the price of copper, in the near future,
irrespective of any change in actual pro-
duction or consumption"
The copper mines of Butte are now work
ing at a small profit, and can continue to
do so at these prices, but the sole reason is
on account of the facilities for working both
mines and furnaces. The hopeful views CIV
en- above are entertained by all friends OF
copper mining, and a.realization of 1.-THE same
is most heartily to be looked for.
In and around Butte there is the same
general run OF news to report this week from
all the mines, with nothing OF a startling
nature to enliven the mass of f1attering ap-
pearances. The mines and furnaces are
plodding along with their accustomed ener-
gy, and there is no decrease in the output
Of either, nor is there an unusual increase.
the following is a summary OF the regular
weekly visit to the various properties men,
toned:
The main shaft is down IS feet below the
GOO loot level, and sinking is going steadily
ahead. The ground is hard, and there is
no p~erceptible increase in the flow OF water.
1t has not yet been necessary to start up
the pumps, as the tank he ndles it without
any trouble. The slopes are producing as
Do,,nh "a az Avor onI o1l ~ <ha n we
machinery is in first-class working order.
ALICE.
The drifts on the 800 level are both in
good ore, which is being taken out and
milled, the assay value being above the av
erage. Sinking has been suspended, await
ing the arrival of the new bob for the pump.
ready for the reception of the machinery.
Both mills are running to their full capac-
ity.
The 500 drifts are in first-class ore, and
the vein has proven to be 10 feet wide.
Some OF the ore has been milled, and returns
well.
THE POLLOCK.
This lie an old location, from which Patsy
Clark took out $4,000 on q lease some
two years ago, and it was then abandoned,
but recently work upon it was resumed.
The tunnel is in $50 feet, and on Thursday
a vein OF good ore WA cut, one a oil
which is q little over a foot wide and
assays 100 ounces to the ton. Work will
be actively pushed, and there is every
indication Of developing another large
body OF ore.
MINNIE IRVINE.
Evans Il FOrman, who some months ago
leased this property, have put up a steam
hoist, and in the 100 loot cross-cut from
the shaft opened up a body OF splendid
ore, 12O tons of which yielded at the mil
over $50 per ton. They are taking out
considerable more OF the same grade and
are making a good thing OF their lease. As
il to encourage them, parties are sinking
on the adjoining claims in the hope o
catching the same vein.
THE POSER.
Larry Williams & Co., the ~lessees, art
pushing the incline on the Poser, and ar
now dOwr 81 feet below the $50 level. Dur
ing the week a fair sized streak OF splendid
looking ore has been cut in the bottom
which assays about 80 ounces to the tor
The water is troublesome, but the pump
handles it. Drifting on the ledge will b,
commenced at 200 feet.
BLACK ROCK.