The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-10-05


1910 tons, sgainst 7.140 tons in 1896.
The Anaconda copper mining company
has issued its second annual report tor
the flscsl year ending June 30, 1897.
The document is carefully prepared
statement of the company's operations.
and reveals the gigantic scale upon which
they are conducted. Earnings exceed
those of the previous year by 1917, 533.-
80, the net profits being 50, l36, 04S.OO.
The following were the shipments from
Anaconda during the year, together with
the quantity sold. viz: Copper shipped.
132, 1864, 1913 pounds, sold 120, S64, 097
pounds; silver shipped. 6.200, 900 ounces,
sold 6,059,06 ounces; gold shipped, 90
$50 ounces, sold Is, 51l ounces.
The costs at the mines and reduction
works amounted TO Sl1, ,5l7.53.
lees profits OF s546, 705. 0S from the sub
sidiary departments, leaving "A net ex-
penditure in Montana of t10, $50 ,012 40
Dividends amounting to 100000
we're paid during the year. The product
oithe mines for the year 1862 reached
the enormous quantity OF LAOS, 1863
tons OF ore, or 152 ,495 tons more than
the previous year. Certainly the entire
exhibit of this great mining company is
remarkable.
Official notice has been issued OF a pro-
iected plan TO consolidate the 0sceola.
kearsarge and Tamarack Junior copper
properties, The directors of all three
companies met recently, and recon-
mended the Joint consolidation of these
interests TO the action OF the stockhold-
era. The plan formulated by the direc-
tors OF the respective companies, il |
adopted and ratified, will result in the |
Osceola company increasing it's capital |
stock from $4,000 to 100000 shares of
the par value of $50 each. The $4,000
new shares will be used to buy the Kaar.
sarge and Tamarack Junior properties,
paying 10, ZOO shares for the former and
l6, 900 shares for the latter. the remain.
ng 1900 shares TO remain in the treas
Try for subsequent disposal by the direc.
.ors, the treasury to receive the final
proceeds. Stockholders are to meet in
Boston aud vote an the proposition Oc-
ober &c. instant.
During the calendar year 1897. the
ombined product of the three mines
amounted to 9,526,375 pounds OF re-
med copper. The Osceola was organized
q 1878, and began paying dividends in
S1S. During its existence it has pro-
uced 95,617, 30S pounds OF copper tn
anuary l, and paid dividends amount
lg to 81, 122 200. The Osceola has 100
ores of Mineral lands, and several con-
lomerate and amygdaIold VEINS cross
be property, which is located south of
ne Calumet and Hecla. Developments
t the new No. 6 shaft promise to add
Materially to the Osceola's output when
nat shaft is completed
The Kearsarge mine, since the begin
ing of operations, has produced be-
ween eight and nine million pounds of
upper, and its percentage Of copper in |
ineral runs little over sc per cent,
ikiDg the lead in that respect. Tama-
sck Junior lies east of the Tamarack
Inc, and recent Developments were
lderstood TO be OF satisfactory char.
;ter. Amalgamation of this group of
ines would also include the Iroquois
'operty recently acquired, The plan
ould make feasible the erection OF
ocern stamp mill, adequate TO treat
le Joint product of all these mines.
ID. HoUsToN & Co.