The evening herald. [volume] (Shenandoah, Pa.) 1891-1966, 1897-07-21
COPPER PRODUCTION.
The Two Most Prosperous Sections
of the United States.
WAGES HAVE NOT BEEN LOWERED

still as High as Before the Panic of
1903, While Stockholders Have Re-
ceived Larger Profts-Heavy For
eign Demand Keeps Up Prices.
Houghton, Mich, July 2i. =. Beyond
question the most prosperous sections
of the United States, at the present
time and for several years past. are
the Butte. Mont, copper district and
the Lake Superior copper district.
Wages are as high as before the panic
Of 1893, with more mines working, more
men employed, larger production,
cheaper cost of producing and larger
profits to the stockholders.
The principal, If not the sole, reason
for the good times enjoyed by the cop
per districts is found in the enormous
foreign demand for the product of the
mines. OF the 1896 American production
over 60 per cent was exported, and for
the first half of the current year the
exports have exceeded 58 per cent of
the output. The worlds supply of Wis
ible copper continues slowly but stead
lily to decrease, being at present less
than $4,000 tons, although the American
mines have increased their production
steadily for a number of years past.
The outlook for the copper producers
could hardly be better, for with a gem
eral revival of business in this country
the domestic demand will be greatly
increased, and although the present
price of the metal allows enormous
profits, an enhanced demand will of ne
cessity bring about higher prices, and
larger profits than are now being
earned.
During the past IL months larger
dividends have been paid by the Lake
Superior mines than ever before In the
same period of time. The great Calu-
ment and Heola, the richest mine in the
world, led with dividends of $40 per
share a total of $4,000, ,0OO followed by
the Quincy with a round million of
profits paid stockholders. The Tama-
rack paid S360,000, and the Osceola,
Kearsarge and Atlantic also paid
handsomely.
For the year 1896 the production of
refined copper by Michigan mines
amounted to 1888, 396, $50 pounds, worth
approximately SIS, 1000, 600. This produc-
ton was achieved by II mines, nine OF
which were in Houghton one in Ke-
Weenaw and seven in Ontonagon coun-
ty, the Central mine of Keweenaw
county contributing 469.24S pounds, or
about one-third of one per cent. of the
total production. while the gross out
put of the seven Ontonagon county
mines was less than 10000 pounds,
and was all secured by "tributors," or
miners who picked what copper could
be found from the upper levels of
abandoned mines.
The Calumet and Hecla produced S5,-
552, 756 pounds of refined copper, or
nearly two-thirds Of the entire produc-
ton of the state. OF the refined copper
trifie over $4,000 tons was smelted in
the works of the Calumet and Hecla
at Black Rock, Buffalo, and something
over $4,000 tons was refined at the
smelters in this city
The 1897 output of copper by the lake
district will probably reach or even ex-
ceed $4,000 tons, and the profit to the
mining companies on this output will
scarcely fan short of $7,O000O0, after
labor has been paid the highest wages
found in any mining district east OF
the Rocky mountains, wages from
which the miners have saved sufficient
to become themselves among the heavi-
est stockholders of the mines in which
they work.