The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-04-18

other single mining camp in the uorld.
1t is very far from being a fact that
the most money made in mining comes
from the properties containing the high
est percentages of mineral in the vein.
The low grade mines are in the ma
jority among the high payers.
Calumet d Hecla was not always the greatest Lake
Superior copper producer; half q dozen Of the sur
rounding properties were making far larger outputs
whom it first began to come to the front. In fact. IL 1t
had not been for the courage of the Quincy's owners
in expanding large sums to test the possibility Of
making low grade ore pay. 1t may be doubted
whether Calumet & Hecla would have been de-
veloped at all. so far from rich were its ores.
Many were the predictions made during the con.
struction of the Quincy's plant that 1.-THE bats would
hy in and out the windows Of those fine buildings;''
and 1t was only when the Quincy had proved that
there was money in the low grade rock that the de-
velopment of the Calumet was undertaken.
1t required expensive machinery and extensive
labor to make a profit on concentrates: but Calumet
h Hecla, Anaconda and the Arizona Copper Co,
three of the greatest and richest copper properties
in the world to-day, are famous instances sufficient
to show how these low grade ores do pay when they
are rightly handled.
Over $40. 100000 in dividends stand to the Gre 1t
OF Calumet l. Hecls; Anaconda has paid to date
dividends amounting to SAC. 900. 900: the Arizona
Copper Co. pays IL per cent. dividends on its
enormous capitalization Of 1885, 900 sterling, or
over so. ooo.o 900 Of our money.
Similarly in gold. the greatest gold mining plant
in the world. the Aiaska-Treadwe on Douglass
Island. Alaska. makes its vast profits from the lowest
grade gold ores worked anywhere in the world. So low
is this ore that the original owner gave mp working
It and sold his title for $500: yet the purchasers. by
skilful management and the proper equipment. have
paid millions in dividends. and 1t is to-day the
richest gold mine in existence.
Like the Calumet h Hecla and many other now
celebrated payers. tho Arizona Copper Co. has had
its vicissitudes. 1t paid for its properties in the
neighborhood Of So. 100000. and yet some tins
after the urchaSe its stock was at a very low ebb in
the English and Scotch markets. being offered at one
time at So per share. The company, nevertheless,
.,,
s"ne'ea " e'p'hSe W. m'ie'o' rSiiroao 10
connect tho mines with the Southern Pacific. put in
expensive machinery and pushed the exploration
and DEVELOPMENT work rersistent,v. with the u,ti.
-, ,o.r,. Tho, ,,ou,, .bo ,,.,r
~
po""'n "'i"'" i" ~" equipment
and further development 1T still pays over a million
dollars in dividends per anuum. AMI adds to its
SURPLUS.
M. - ~ .
ro.s s,noL N, ~, On Co., ,,.I" a., ~. "nn,
go. -. - - a.
oo.,, A. ,ny..,o. IT. ,o,rn T., -. 80"
,..r., r.,.o ,n.Iax a. 40 49,.
90, &c.. 80. 80 ~ ~
49, a." -, !. O. n "Sn
....tvo 40. ,Ho NO.. no., -"
49, . - g." ~ WI"
sna.a ynon a - a No., -"
80. -
80
49,. ~ as
,..,Ia 81. -. 80.
.".,." %
- 0"' ~"
"a".n' ~" -" u
."n.... S. = Sco ""v"A
80" :. Aei-
.".' s"S NO. occ nv" uo
nIled with men who were EXPOSED to sim |
liar risks and likewise escaped, hut II IL
pTo"aOIe '""'ie" Vi ''ehh are cOnSratn-
LII" n 'nIH ~ '"-u"S VI" !" I"c'' II
,yns ouce almost given away A bundred