The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1898-08-26
Boston Transcript.

Boston transcript.
Mining for copper was begun on The Ke-
weenaw peninsula OF Northern Michigan
In a small way in 1865 and has since Goa
':nued un.n;erruptedly. Within the short
space of less than third OF century
the mine has paid In dividends tAs al
most uncomfortable sum OF $ss.Se o.e. and
has on hand, N cash. bills receivable. cop
per. copper mineral and supplies property
which would realize fully Sio0eo coo more
within a few weeks. this not Including the
many million dollars worth Of machinery
or the mine Itself, which on the basis of
recent stock sales is worth Ss50I0, Go. To
develop this great mine assessments II
s.. so0. GO were levied, which have been re-
turned more than forty-fold.
AT present and for several years past
the mine has been paying quarterly divi-
dends of 81 600. or 81 eoo.000 per aDnum.
Even this great sum is far below the ret
earnings of the mine. which, with copper
selling at II cents a pound. can hardly
fall short of $600.o0o q year-sA0.eu0 n
profits every month the year sround-s2o-
Go for every working day-siOso an hour
for each of the twenty hours daily when
the mine and mills are running, fer they
run both day and night. winter and sum
mer. stopping only fer Sundays and holt
days. The American mines which could
not be bought outright with single years
profits OF the Calumet and Hecla could al
mos. be counted on the fingers or one
hand-and two of them are near neighnors
OF this great property. The proiits OF the
Calumet and Hecia are probably equal %
a quarter OF the net profits OF all mines
Of gold. silver, copper, iron and lead IN
the United States.
The Calumet and Hecla owns mines.
stamp mills. smelters, railroads, docks,
steamers. water works. sawmiis, farms.
forests, a ship canal. and cities bu't on
1t,&rr an
ara nearly thirty churches-Cathaiic. I-si-
taeran. Presbyterian, CongresationaI
Methodist. Baptist and other denomlna-
fsons-fn which the gospel is preached N
English. French, German, Italian, S"e-
dish. Norwegian. Finnish. SlaVonlan anu
other languages. Each OF these clnrches
the Calume. and Hecla has furnished
4~aa site for as we'll as ground Tor par
sonare. and has helped to build by cash
Snr,,ion which has invariably been me
c~aa.est In amount received for the pur-
pose a,,.n4,a,.
Twenty thousand persons are aepe'.1e'..
directly upon this corporation TOT thei'
bread and butter. earned pS the more
man 400 workmen whose names are on
~ rav rolls The wages are the high
est maid in the copper district, anu fhe
men are never overworked- Emp. oFes
~ the Calumet and Hecla receive hisEier
wages than are paid fer similar "orA efss
whare In the world, with the exception
~ South Africa. Alaska and some of the
Rocky mountain mining camps. Deinc'-
,nr the actual cost OF living. an empEoye
of the Calumet and Hecla Is better re-
m,nerated for his labor than the work
man a. any other mine on the globe
Another 81 o0G, 200 a year in nrofits might
be squeezed out OF the employees. and s'ili
leave their wages above the average Level,
but there Is TO disposition to do so
The sums paid for labor and the annuai
dividends are about equal There are
3 4sa shareholders by the latest ofncia' re-
mort. who divide between them N"n.eo
ann;ialiy-an average % SIZES FOR each
shareholder There are a number Of single
shareholders who have millions invested
in the stock Of this one mine, while there
are hundreds who have but a single share
or two Many Of the employees OF The
mine have Systematically invested their
savings in the shares 90 the property for
years. ard. through steady appreciation 81
the stock and The enormous dividends
turred have grown independent One
man who began twenty-five years ago
a surface lahorer at the mine. tist over
from Germany and without dollar other
than earned with his hands. now owns
over 5tto shares worth more than sgotgl
Every dollar saved was inyesfcs. every
dividend paid him was made 20 buy more
stock There are SCORES o. old employees
worth from SD 600 20 5000 each made
i1 sle same way.