The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1892-02-06
LEGITIMATE MINING PAYS
Review Of What the Gold and Silver
Mines Did During the Year
just Closed.
Montana Mines Lead the Country
In the Amount Of Profits
Paid Owners.

81 AMAOAA V&N&AS ~SOSS ~ ~S0A - y
In the Amount Of Profits
Paid Owners.
some of the Great Homo Producsrs-In-
tme That Pay From IL to
10 Per Cent
The last issue of tho Engineering and
Mining Journal of New York contains a
worry interesting article on the profits in
mining. The references to Montana mines
are particularly valuable, and show that
this state leads the country in the profits
paid BY gold and silver mines. The article
is in the form of a review of gold and sill
yer mining during 1891, n says that with
respect to the Montana silver mines tho
most noteworthy feature was the great de
crease in the payments OF the famous
Granite Mountain mine which, in 1890. led
the list with the sum of $2,4O0.000 paid to
the stockholders. For the first two months
OF 1891 it continued to pay at the rate Of
5000, 900 per month. but subsequently the
dividends were reduced to ons-half that
amount, and the total for the twelve
months was but 81. 400. 900. The price of
the shares fell at the same time the divi-
dend rate was reduced, and ut the end of
the wear represented a market value Of
$1,000, 900, against ST., 10000 at the same
time in 1890. On the average market value
of the year the return was Q IA per cent
or nearly the same rs in the two preceding
wears, The decrease in the dividends
of this company was due to the
falling off in the grade of the ore.
During the fiscal year ending July 81. 1880.
according to the official report, the mount
Of ore crushed in the mills was 6O,212 tons,
Of which the average ASSAY was 1884
ounces silver perton; during the fiscal year
ending July 81, 1891, 6S,S5O tons were
crushed, the average assay being 50.6 ounces
silver per tor.
The decrease in the amount of dividends
paid by the Granite Mountain company
was in considerable measure made up by
the increase of its neiRhbor, the Bi-metal-
lie, which paid S290,000 in 1890 and $780,
600 in 1891. The dividends Of 1891 repre-
sented about "A per cent on the market
value Of the stock. On the basis Of the
market value at the enc OF the year 1891,
dividends continuing at the present rate,
an investment in these shares would real
ize nearly 1873 per cent. In 1890 the rate
was much lower. this being due, of course,
to the high price set upon the stock for its
prospective and speculative value; hence
comparisons would be unloading. In 1891
the capacity of the mine being better IN
derstood, the rate rose more nearly to its
-,~ -. -, rr% ~, 49, laval -
OF the other Montana silver mining COM
panies the record of the Elkhorn is the most
noticeable, it having declared dividends to
the amount of $375,O0O. or treble that paid
in 1880. On the average market value of
its shares it paid 30.7 per cent in 1891.
This il one of the English companies of
comparatively recent organization that have
proved such fortunate Investments for their
shareholders. Nearly all the silver mining
companies Of Montana did we'll in 1891 and
paid increased dividends, Notwithstanding
the fact that the price of silver was low and
declining, Including the dividends paid
by the gold and copper companies of Butte,
the state of Montana leads all others in the
aggregate of payments, the total being
$4.346, 500.
The mines of Colorado paid SO, 3l5, 675,
the largest dividend payer being the
famous Mollie Gibson mine. of Aspen,
which appears on tt. list for the first time
with ST. 900, 900 to it's credit.
or the Utah stocks, Ontario and DAILY
both paid the same dividends as in 1890,
the amounts being $500, 900 and $3.50. 900.
respectively, which we're IA per cent in each
case on the average market value of the
shares during the year. The rates in 1890
were about the same. Horn Silver paid
$1,000 600 in 1891, as in 1880, or AT per cent
on its average market value.
OF the Idaho mines the CHur d'Alene
paid only one-half the amount that it did
in 1890, while the Red Cloud paid four
times as much. The DeLamar. which was
the year, paid two dividends of ST. 600
each, or 6t4 per cent on the present market
value of its shares. This company has been
working throughout the year, however,
with a small and inadequate mill, a larger
mill having been i'll course of construction.
The value Of the stock consequently was
largely speculative and prospective; hence
the low ratio between the dividends paid
and the market value of the shares. The
Helena d Frisco paid during the year $3.50
600 in dividends, and near the close opened
up a body of ore which added two millions
or more to the value of the property. plac-
ing it in line with the Granite Mountain,
Elkhorn and Bi-Metallic.
Consolidated California d Virginia was
again the only Comstock mine to declare a
dividend. Its total for the year was S2l6,-
600, against $4,000 III 1890.
IN california tine Kennedy paid the iArp-
est dividend, showing a very great increase
over its payments in 1890. or the other
=, gold mines of the state the famous old
Idaho and the Champion paid increased
amounts. waile several companies appear in
the list for the first time.
The Alaska Treadwell Gold Mining com
psny, of Alaska. paid $3.50. O0O. The Home
stake. of Dakota. paid $4,000, the same
amount AS in 1880; but the dividends in
1891 were at the rate of but 1913 per sent on
the average market value during the year,
against 1874 per cent in 1890.
Summarizing the foregoing, it would ap-
pear that tho investor in Lake Superior
copper mines il satisfied with a return of
from eight per cent to SD per cent on his
money. These mines have long records az
steady dividend PAYERS. they are located
on wonderfully strong and uniform lodes:
and they are opened a long way ahead; SC
SO that the prime point of considera-
ton, with respect to their immediate
value. is the price of the copper.
1t is impossible to make compari.
sons between the Butte copper mines
and those of Lake Superior, as Boston Il
Montana is the only one of the former that
furnishes data, the shares of the Parrot moi
being listed on any exchange. Turning tc
the silver mines, the Ontario d DAILY, Gran
lite Mountain and BIZ Metallic constitute &
q distinct group, the mines being of SINH
lar character and the shares of the com.
panies being held almost entirely as invest
mants. All are located upon strong. vel
defined tissure veins, mineralized in rich
strong and continuous chutss; all have beer
steady dividend payers since they were
opened; all are well explored, ard have
or~ ~ raccrvos TLo l,.l.-a -,