The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1898-05-29

characterization OF the Jewish temple.
have been synonymous with mineral
wealth. The diamond mines OF Col
conda. whence the Indian rajahs se-
cured the shining stones Of which they
were 90 fond. are often used ~ an IL
Illustration OF overpowering, dazzling
wealth. In later days the silver mines
Of Potosi and OF G~uanajuato. the mines
OF the Comstock lode In Nevada. the
golden shafts of Cripple Creek and the
fabulous riches OF the Kiondike have
excited the cupidity of mankind. but
there 10 q single mine. not OF diamonds.
OF gold or OF silver. which In richer in
mineral wealth than any named. 1t
10 the Calumet & Hecla copper mine,
located on the Keweenaw peninsula.
b long neck of Ian which juts
northward from the enter Of the
southern shore Of Lake Superior. Ac-
ounts OF the marvellous riches Of this
mine do not all the newspapers. for
b mine has long since passed the
stage OF advertising and It requires .
small fortune-more than the average
gross earnings Of an American work.
ingman for an entire year-to buy q
single one Of the 100. 900 shares into
which Its capital stock ID divided. Its
managers are averse 20 publicity. and
quietly ignore both criticisms and fiat
terry. The n they do not fear. the
other cannot help them. for their great
property has long since reached the
pinnacle OF mining enterprise and to-
day stands as the largest and most
profitable mine In the entire world.
Conflicting stories are told of the dis
covery Of the mine. but 1t seems rea-
sonably certain that the .conglomerate
vein on which It il opened was once
worked by that prehistoric race known
to us a the mound builders for traces
OF their excavations and tools were
found near the FIRST shaft sunk in the
present mine. Mining was begun in.
a small way in 1866, and has since con-
tinued uninterruptedly. Within the
short space Of less than one-third OF
q century the mine has paid in divi-
dends the almost inconceivable sum Of
1853, $50, 900. and has on hand in cash,
bills receivable, copper, copper min
eral and supplies. property which
would realize fully $40. 900. 900 more.
within a few weeks, this not including
the many millions of dollars worth OF
machinery or the mime itself. which on
the basis Of recent stock sales Is worth
go, 900. 900. To develop this great mine
assessments Of Il 1000. 900 were levied.
which have been returned more than
fortyfold.
At present and for several years
past the mine Is paying quarterly divi-
dends of 81, 1000, 900. or 81 o0, 900 per an
HuuI. GNeH tnis great sum is lar De-
low the net earnings of the mine,
which, with copper selling at IL cents
per pound, can hardly fall shor of
5000, 900 q y~ear-half a million dollars
in profits every month. the year
around-S20. 900 for every working day
"a thousand dollars an hour for each
OF the 20 hours daily when the mine
and mills are running, for they run
o day and night, winter and sum-
mer, stopping only for Sundays and
holidays. The American mines which
could not be bought outright with a
single years profits of the Calumet &
Hecla could almost be counted on the
fingers of one hand-and two Of them
are near neighbors of this great prop
erty. The profits of the Calumet &
Hecla are probably equal to one-quar-
gold. silver. copper, iron and lead in
III entire United States.
The Calumet & Hecla owns mines,
stamp mills, smelters, railroads, docks,
steamers, water works. saw mills,
farms, forests, a ship canal n cit
les built OF its wi land. Standing on
its property are nearly 30 churches
Catholic. Lutheran, Presbyterian, Con
g~regational. Methodist. Baptist and
other denominations in which the gos-
pei Is preached in English, French
GeNlan, Italian, Swedish. Norwegian
Fi3hish. Slavonian and other Ian.
guages. Each OF these churches the
Calumet & Hecla has furnished a fret
site for. as well as ground for a par.
cash donation which has invariably
been the greatest In amount Of any re.
ceived for the, purpose.
Twenty thousand persons are de.
pendent directly upon this corporation
for their bread and butter. earned by
the more than 1000 workmen whose
names are on the pay rolls. The wages
are the highest paid in the copper dis
trict. and the men are never over
worked. Employees of the Calumet a
Hecla receive higher wages than 1.
paid for similar work elsewhere in tn,
world, with the exception of South
Africa, Alaska and some of the Rocky
mountain mining camps. Deductint
the actual cost of living. an employs
of the Calumet & Hecla Is better re
munerated for his labor than the work
man at any other mine on the globe
Another million a rear in pronts nigh
be squeezed out Of the employees ant
still leave their wages above the aver
g level. but there il no disposition Il
do "a.
The sums paid for labor and the an
nual dividends are abou equal. Their,
are 2,462 shareholders, by the latest Of
hcial report, who divide between then
$4,000. 900 annually. IN average Of 1852
for each shareholder. There are
number Of single shareholders VIII
have millions invested in the stock o
his one mine. while there are hun
dreds who have but a single share o
two. Many Of the employees OF tn
mine have systematically investe'
their savings ip the shares Of h prop
erty for years and through the stead,
appreciat ton of he stock n h en-
ormous dividends returned. hav
grown independent. One man, VIII
began 25 years & as a surface la
borer at the mine. just over from Ger
many and without a dollar other tina
earned with his hands. now owns owe
800 shares. worth more than a quartz
Of q million dollars. Every dolla
saved was invested. every dividen
paid him was made to buy more stocl
There are scores OF old employe
worth from $40, 900 to $50. 90 each, mad