The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-04-21

against railroad traffic associations, and
the slow pace OF the tariff bill through
congress ia a matter not calculated to
fayorably impress either business men or
stock market traders. The advance in
the price OF wheat Is an important factor,
together with the heavy exports oil both
grain and other merchandise from this
country. The large importatious, to es-
cape the higher duties to be imposed by
the new tariff law, have created demand
for sterling exchange, which has ad-
vanced foreign exchange rate almost to
the gold exporting point, aud the begun
ming of the outwa ri movement may be
expected at any time now.
The copper market continues Gull and
prices are made to appear weak, although
officials OF the large producers say they
are well sold ahead and are not in the
market at present prices. All ears ARE
bent TO catch the first intimation OF the
price which the Calumet and IIscla man
agement fixes for its spring sale. While
the Calumet aud Hecla has "A reputation
of inaugurating mark down"s lea, there
is feeling that this year they want iull
market price, and there is no reason why
they cannot obtain an even l y cents Tor
all the copper they can dispose If at this
time.
President Agassiz aud Vice President
Livermore, of the Calumet and liecla,
have been in the southwest aud Mexico
Tor the past two months, and rumor has
it that they are looking for copper prop
critics in that district, which is one OF the
greatest copper producing fields IN Amer
lea. There never has been developed one
hal The resources OF the southwest IN
this line and the facilities for producing
and marketing copper there are crude.
Modern methods and additional railroads
are needed and 1t is thought that the day
ls not far distant when considerable Bos-
ton capital will make that one OF the
most profitable copper producing regions
in the world. The question naturally
arises why these two gentlemen are seek
ing new copper fields, when the Calumet
and Hecla mine is 80 productive and
promises to continue it's phenomenal div
idend record for years to come For
some time past, rumors have been cur
rent that a foreign syndicate hes been
negotiating for American copper mines,
and the Boston & Montana and the
Butte 4 Boston mines have been named
as the ones most likely to be sold, but
rumor has been wrong. Ii is the Calumet
and Hecla which the foreigners are after,
and it remains only to FIX the price for
the control la order TO close the deal.
The control of this mine can be secured
for 800 per share, Though control
ling interest could not be bought in the
open market at that figure. This would
make $40, 600, 900 for the mine. During
the past thirty odd years the mine has
paid over SIS, 100000 in dividends.
With "A reduction in the construction ac-
count. the NINE could easily return $40
per share in dividends cry year. at the
present price OF copper, and in ten years
return the purchase price at 800 per
share.
The Boston News Bureau says Of the
Butte Il Boston mine: The
company starts off with about 81 800
600 cash or as much as was the cash sur
plus OF the Boston 4 Montana year
ago, and il owns the smelter which is
now making most of the Boston X Mon
tona production. This smelter ls leased
TO the Boston & Montana temporarily
for 81 600 per month. We understand
that four Of the fifty-eight claims OF the
Butte X Boston will be Immediately
opened, including the Blu, Jay and the
Harrington Placer. People who bave
ed the Butte 4 Boston for years
say that it never had such an exhibit of
mineral in it's history az it has today.
The property will be turned over to the
new corporation Immediately after the
payment OF the last assessment tomor-
row, and large force OF miners will be
put to work at once. Some OF the Sears
Building people regard the reorganized
Butte az the most promising speculation
with which they hayeever been connected.
EVERETT.
-