The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-08-10
MINING.
BDsros. August ;. lses
The Case of Copper.

The Case OF copper.
Copper mining seems TO be fully as
great a Boston success as ever; indeed
the annual report of the Calumet 4 Hecla
company which stockholders receive
today shows that for the fiscal year end
ed April 30, 1896, S25 per share or So
100000, was DISTURBED ia dividends, and
the surplus OF assets over liabilities was
increased by 81 ,Gs3, 900 for the year TO
the comfortable balance tocarry forward
of $4,000, 600. This statement figures
copper on hand and not sold at 81 cents
only whereas the market today is II
cents, and the great company probably
would have no difficulty in converting all
oil it's stock OF the metal on hand into
cash at 10 cents or better Long before
the nineteenth century ends the Calumet
and Hecla will have passed the $4,000
900 mark in total OF dividends disbursed
since the discovery OF the famous lode in
the Upper Peninsula OF Michigan. As
there are but 100 900 shares of the stock
the profits Of this company are remarka-
bic and the shares sell for twelve times
their par value, or $500 Even at that
they return = per cent on the investment
with the S2j per share dividend pay
ment OF the last fiscal year. When the
enormous increase OF pr, duction of the
metal of late years is cUnsdered-the Cal
umet increased from 81 4OO, 900 70 So.
300, 900 pounds in the year just ended
it may seem strange that such profitable
results should attend the mining of the
same, but here il something for slveIites
to consider
Copper II a metal produced in the
jnited States and Used 10 some extent
in our coinage. IL is money metal.
There il no claim that the intrinsic value
OF the copper in a cent piece is one cent;
II cents will buy pound of the metal
and "A few years ago il WAS quoted az
low az cents per pound temporarily.
At the time OF "thec crime OF 1873" 1t sold
az high a. 30 cents per pound; during
that iateiul year it fell to 20 cents, and il
has kept on downwards ever since, with
occasional intervals for rest and refresh.
ment, 30 TO speak, furnished by the
French syndicate Of more or less happy
memory, 10y occasional pools ana combi-
nations and by the Developments OF cleo
trical industry in which the metal PLAYS
an important part. But the point can
not be disguised that this money metal
has suffered since 1873 shrnkage in
price from ~ high az 30 cents and an av-
erage for that year Of 20 cents per pound
To II cents, today. This il not right,
for had gold not advanced would not
copper command more money today?
Why should not something be done TO re-
habilitate copper?
The fact that the modern mining plant
enables profitable production and larger
dividends to producing companies than
in the old days Of 80 cents per pound
ought 10 have no weight. AZ with sil-
yer, the world production Of the metal
hh7 u iitu hUh ulDIt Hlutt the crime,
but what Of that Let the holders of
Calumet and Heca and Boston & Mon
tlna demand the restoration OF the good
old price OF 30 cents, even if the govern.
ment have TO take the copper of the
world at argeat that price. In the DAYS
before the war there wac more copper in
cent by far than there Is now; the old
coin contained pretty nearly a cents
worth OF copper; by what crime was the
s'ze OF the cent reduced? Let us have the
old "brum," and with il a return to old
conditions OF price OF the metal.
True, silver is precious" and copper il
base, but they both are commodities of
worldwide use. and il the base metal
could suffer 30 per cent diminution in
price since 1873 and still repay richly the
miners, cannot the other get along on it's
merits without pleading the "baby-act'
~ d forcing thegoyernment TO restore by
arbitrary fiat valuation utterly out
grown by the increase OF production
BOSTON Transcript.