Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1892-08-25
An Infant InduStry.

From the reports Of the annual meet~
ing of the stockholders OF the Calu>
met & Hecla Mining company
last week we obtain the gratifying
information that this company is still
managing to exc out an existence by the
aid Of the tariff on copper in all its forms.
It's dividends for the year ending April
80 were $4,000. 600. or $50 per cent on
the par value Of the stock. This is its
usual dividend, though under adverse
circumstances 1t has fallen of at times to
the beggarly sum Of $1.30O.OOO. There
appears to have been a disposition on
tho part Of some of the stockholders to
want more dividends next year, and the
Boston Herald gives the following info.-
nation on the subject:
After adjournment Of the meeting
leading official was asked about the pros
pect Of the $50 dividend next year.
which had been published as q probab-
ility. He said that that was the work OF
the Imagination. He did not think that
the large stockholders would expect SO
large q distribution. The elements Of
doubt were too many for anybody to say
what dividends could be paid in the flu
ture. That would depend in part upon
the price Of copper. The company. he
said, asked 10 cents now, and its last
sales in July were at that price. but he
did not suppose any large quantity could
be sold for 10 cents now.
At liz cents per pound the company
made q profit of about three cents per
pound. Reminded of the statemen. in
the annual report about the large expen-
ditures for betterments being nearly COM
pleted. the gentlema1 said he was not SO
sure that considerable OUTLAWS for i'm
oS or yft yy he re>
euir I'd.
Everything was progressive in this age.
and facilities which answer today may
have to be laid aside for others in the near
future. He could subscribe to the state
ment in the report, and yet thought that
a good deal of money might be required
TO supply the needs OF the future. He
did not believe in the claims of some peo-
pie as to the low cost Of copper. He did
not think that it was produced for less
than 81 cents per pound, unless by pro-
cess of bookkeeping charges were made
TO other accounts than the cost sheet, or
the mines were skinned to aid good
soowinR.
This statement is peculiarly interest,"
ing, as it gives the public the first ipfor-
nation as to the cost of producing cop
per ut the Calument & Hecla.
The U. b. authorltles puoilsn An-
nuaIly the cost of produc-
ton at other mines, but this greatest one
never gives any figures. 1t is probable
that 81 cents a pound is an overestimate.
however. as this is the best equipped
property in the country, and several
neighboring properties have in the past
reported considerable cheaper produce
ton.
But at this figure the Calumet & Hecla
does very we'll. 1t produced last year about
20 million pounds of refined copper. and
the average selling price was 1874 cents
per pound The net profit, therefore.
was about So. 76O. 600. or course every
one is glad to bsYe the industrious and
thrifty shareholder get his little dividend
of $50 per cent, and no patriotic citizen
will grudge the small tax he is required
to pay to produce this satisfactory re-
suit. The duty on copper is AS folio Tvs:
Copper ores II cent per pound
Old copper and clippings l cent per pound
Regulus and copper cement cent per pound
Bars. ingots aud pigs IA cents per pound
BraZier's copper, etc 35 per cent ad valorem
On brass. in all forms, the duty is IL
cents per pound The people OF Indiana
will of course vote to keep up the Caiu-
met s. Hecla dividends.