The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-01-21

LsSs ingof- No sales have come Z
Da5Scs 81 hefter than the price named
s.1f Il j. evident thst transactions 10 90
90 wlli ne ST liz 20 - cents as the min
( re companies srs pretty well sold up an,
hsue 10 nee1 20 make concessions in III
gs-5cs- Copper bulls are ticking consid
s-Sh3y higher pr5Ces for the metal thar
- cents FIgares Of the 1896 produc
tiOn. expectation aud consumption o
4 coppsr, have just come 10 hand showing
81 fresse compared with 1895 in th,
p-oiueuan # 81, COO tons, an increase il
The exports Of 81. 900 tons (uearly 100
I per cent? and a falling off in the consuup
ton OF rs 600 tons. The visible suppls
ass Ieluced about 1000 tons for ths
va. Statistical ' the position OF the
eopD market is very strong and a re.
turn 10 a normal demand for the metal
for dome>tie consumption would neces-
state an Increase in the production or
result Iu de idedly short advancein the
N lrket price OF the metal
The directors OF the Boston K Montana
mining company last week declared a
dividend Of SO per share, payable Febru-
airy 20. to stock registered January 20.
Books reopen February -. This diyi-
deDd will make So 375 900 declared aud
paid by the Montana up To date. 1t il
an ope0 secret that a dIff.rrnce Of opin-
ion existed between the New York and
Boston interests in the directory on the
amount of the current dividend aud that
the Boston directors favored the pay
ment Of 80 quarterly with occasional ex-
tra- when warranted, while the New
York contingent of SO now without any
reference as to whether or not it is n
quarterly, semi-annual or monthly paw
Ill III. Montana touched it's brightest
point last week, 1909 and closed there. A
bet was made that il sells at 125 before
100.
The Calumet and Heca's dividend dec
laratiJn OF SO per share was somewhat
OF a surprise to the Street Thedire tors
voted to pay the usual dividend of So
aud an extra dividend OF SO. Thu
makes total of SIS, $4,000 paid by
the Calumet and HecIa up tn date The
current disbursement is due February 10
TO Ockhot0ers of record January l3.
The Boston Financial News gives an in
terestlug summary OF the history OF the
Calumet and Hecla stock ia which it
-Bys:
"A close study of the discovery OF this
mine, and lis early progress, reveals one
OF the most Interesting features in the
mining history of this country. The
property in its fret stage was known IA
the Calumet, and was originally set off
as dividend on the Hubert Land Co.
Tor some time, having a merely nominal
value oil less than 81 per share. This
was in 1864 and until 1866 nothing was
known OF the company. 10 the latter
year the opening of the Calumet vein
made this very valuable property, and
Ia the same year aportion of it's territory
was set off to its stockholders at s. Der
share and called the Hecla.
From this time on TO 1871, during
which period SIS was paid in ON the Cal.
umet and $25 on the Hecla, both stocks
rose steadily; Calumet from 81 to S1G5.
and Hecla from So to $165. During
this period the accompanies had been doing
well, and had paid dividends
amounting to $3.50, 900, the Calumet be-
ginning on August 5, 1879, and paving
$500, 900, and the Hecla on December / 8
1869, paying $G50,OOO.
"In May, 1871, the two companies
under the name OF the Calu.
met and Hecla, and since that time the
company has made the most remarkable
showing OF any copper company recently
known IN this country. At the time of
Il stock dividend WAS
made OF 10000 shares, making $4,000
in oil. This amount remain, unchanged
until February 10, 1880, when n further
20 per cent stock dividend carried the
capital to 100000 shares, at which fig
nre " now stands, and on which amount
/ zoo, 0OO has been paid in.
Up to, and including the dividend lust
declared, $40, $50 900 has been paid IN
Cash dividends including the dividends
PAID on the old companies, During the
period which has clap ed since the con
solidation 81 the companies the shares
have steadily risen from $95X ex-divid nd
OF 50 to $40 the present disburs,-
ment Of SIS
AS il usually the case with such high
priced properties there IL but little trad
ing IN this stock, although during the
present year to date 532 shares have
hands. the price meanwhile ad-
vancing from 1926 TO the equivalent of
S355, the highest in its history"
The Butte K Boston reorganization nm
doubtedlv will 90 on record az one OF the
most successful congratulations of any
Boston property. Out OF the total OF
zoe, 900 shares less than 1000 shares
remain unaccounted for and the deposits
of the first mortgage bonds with the
aggregate 1896, 900 out OF
the VI 900, 900 outstanding, while all
but %, 900 Of the consolidated mortgage
bonds out OF the total OF 81 900 900
wese deposited. An official OF the CON-
pany says that the energies OF the CON-