The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1898-07-18

earnings easily rise to something nearly
$500 900, or IS per shsre? III you cou-
tend that this il excessive, which l will
not entirely conceds, will not the earn.
ings, with regular water supply and in'
creased stamping facilities, be a great
deal more than 81, and surely much more
than 81. which was your estimate? When
you realize that the Pioneer earned fully
20 cents with low water and present
stamping facilities. think you will admit
that your estimate OF 81 with regular
and adequate water supply and increased
stamping facilities ia low.
SrocKHoLDER IN PIONEER
"Well, / thought / might as well be
conservative on the future, but the force
OF this stockholders remarks appeals to
anyone's reasoning powers. | reckoned
roughly about $4,000 to $4,000 net
per month with regular water supply.
OF course il will be recognized that in.
creased stamping facilities OF 100 per
cent will probably more than double the
earnings and bring them TO from 81 40
TO SO per share"
ITO the Financial Editor NJ the Trans
cript.-rhe news from the Pioneer mine
is beginning to assume Importance. The
Street evidently has run away with the
idea that the dam which is constructing
on the river ar the base OF the mountain
would take long time TO build, but this
is entirely wrong. tits fact that a large
part of the dam was constructed by
nature, inasmuch as two huge rocks are
in the bed of the stream on either side OF
the river, thus affording a substantial
on which 70 begin work H.
deed, these rocks decided the management
to build dam in the first place. The
dam is now up some four feet from one
side OF the river to the other. and it will
not be many days before il will be COM
pleted The fume wheel which is TO be
operated will be on the ground, or rather,
in the water within few days after the
OF the dam. An agent OF the |
General Electric Company some time ago |
went over the ground and also the water, |
so to speak, and an estimate has been |
received for the erection OF an electric |
plant. The machinery requisite for this |
will not have to be made to order, and il |
ian be shipped promptly and put into |
operation within couple OF weeks at |
anv time.
The stamping facilities Of the Pioneer !
also will beincreased, 40 that the property |
n the opinion OF those who ought 10 |
Know easily can pay 81 per share on the
stock. With an inadequate water supply |
he Pioneer mine has earned during the |
,ast twelve months over $40, 900, after
paying for all development work and |
Ii, idends beside. With a regular and |
assured water supply the mine easily
ould do twice as well, even with only |
Ia present stamping facilities. This
would be $1.50 per share. Now double
he number OF stamps and Pioneer can
arm SO. pay to it's stockho ders SO and
id large amount TO it's present large
urplus. which amounts to nearly $50.
100, or 81 80 a share. One writer directs
ttention to the fact that Pioneer stock
originally cost subscribers So per share.
pom which tw o dividends OF twenty. five
ents each have been paid. Thecompany
lso has large territory opened up. and
q addition it has new mine which was
purchased some months ago. which ia
ntirely undeveloped. GOLD"