Wauwatosa news. [volume] (Wauwatosa, Wis.) 1900-1948, 1900-10-03
ALL COMING MONEY.
copper Mining Companies Have
Produced AS. 100000 Pounds
Since January |.

OHISS JdtlNdfy /.
writer in the New Yorl: Sun saws
that never before in the history of copper
nave the producers of this metal been
aoc to mine and smelt it so extensively.
ana under combination Of so Favorable
conditions as have recently existed The
INNING companies now in the field may
be said in many cases to be literally COIN
ing money. Since January / to October
l, the copper production of this country
Is estimated at about 44S,000,000 pounds,
worth approximately from 81, 10000 70
$to'o00'OOO. Allowing 8 cents a pound
Tor all expenses, the net earnings fer
nlne months would therefore be from
S3o,S40,OO0 to S37, 800, 900. The cost in
some cases might POSSIBLY exceed cents
a pound, owing to extraordinary cen
structlon expenses, and higher wages, but
In other cases the cost under ordinary
circumstances is less than s cents.
The United States copper production
for the first nine months or this year is
inquired out to be worth from about Sic
OO0,0O0 to S19,000,000 more than that fer
the whole of 1896, when copper sold at
from ia to II cents; and from S26,000.-
600 to $29,000,000 more than the entire
production during the year 1896, when
copper market values ranged from 93s 70
ia cents. Six years ago the price Of
copper was as low as 8 cents, while 10i4
cents marked the highest point in thai
year.
Large Orders from Europe.
The foreign demand has been the most
potent factor in placing the copper mar
ket on the present excellent footing. Eu
rope is constantly consuming an enor
nous quantity of copper, and will I'M
doubtedly continue TO do so. European
consumers are compelled to buy largely
from this country, as foreign mines are
utterly inadequate TO the task of supply
ing the demand from England and the
continent. The foreign reporting copper
mines for the first eight months OF this
year produced total of only 130,213,440
pounds. while the foreign deliveries for
all Europe during the same period
amounted to 40S, S92, 100 pounds, or at
the rate of 50,611 500 pounds a month
With a demand of such magnitude it is
no difficult matter to account for the
strength and activity of the copper mar
ket i'll recent months.
Within the past two years the largest
copper dividends on record have been
funds have been notably increased ii
numbers of instances in excess of work
ing capital. 1t may be interesting 30
compare dividends paid out by a few of
the principal copper companies III the
manner following, which puts the matter
in somewhat new light.
The last returns by the Calumet \
624.O00 pounds of copper for the hSra'
year ending April 80, 1900. During the
same period the company paid in div
! bends $50 a share, or $S000,0O0. !he>y
dividends are equivalent to about ~
cents Il pound on the abovenamed ont
put. The Boston & Montana COMPANY
paid in dividends last year Il total 1T
$5,400,000, which is equal TO diyls,.H
of 9 cents a pound on an output Of GU
100000 pounds. This year the coml"a.
has declared four quarterly dividends =
gregating $4S share, or total ~
S6,450,000, which is equivalent T.
lO%5 cents per 90 o 661 I'D on ,,o,as,
of copper. If. however. the Bostcu a'4
Montana should produce I0.U,@'''
pounds of copper in 1900, this year ~
idends would then be equal to 9.21 ceItS
per pound on the greater quantity ~
| any case the dividends represent the III.
ity to earn enormous profits under ;a'
| existing copper market. The last e."
terly dividend by the Boston and MOI
tana company was declared few datN
| ago, ad is for So regular ad Sio eAta,
dividend will call for the dishurSSmgl-
of S2,250.000. Recent sales Of BOSE.
and Montana shares have been mace 2.
1885. On this market value OF H.
stock. dividends this year are equiYa',L.
to a little more than 1874 per Cent. ~ ~
the dividends for 1900 are equal 70 L.
per cent. ,.
The Quincy Mining company has '"''
been adding permanent Improvements
its facilities. and with its new eqmph''
in operation will be able to turn ca' "
| much larger production at mln'Il...
| cost. Recent improvements and Us
construction work have absorbed at'.
81 900. 600. The new stamp mill WI"
three heads should enable the Gum
increase its production of refined r'i
next year by about 100000 por
over the 1899 output. The old Nil, .
five heads. and last year stamped a,ft.
tons of rock ut a cost of 22,19 cents
of rock Another addition mt the ca.
mine is two new cOmpreSsors opera.
sixty drills During the Quincy :
it has produced more than 21o.R'.-.
pounds Of refined copper The con.a
got its charter from the state OF
igan in 1S4S and is therefore one oi +
pioneer copper mines Of the IA''''
States,