The sun., 1902-12-29
EARS RECORD IN TIE MINES.
Or 4 VERY GOOD ONE FOR
THE COPPER PRODUCERS.

pw Prices Cot Down Prsats In the Butte
ana Lake superior Districts Cripple
Creek's Geld Prsductien-steeiC Cospor.
atisu Buying Many Iron Ore Properties.
HoU6Hroy. Mich. Dec ~ THE year now
Aarly ended has not been altogether a pleas
at one for the Lake copper mines The
rice OF Lake copper has ruled between II
pa 4? cents pound for most OF the time.
nd. taking into consideration the increased
ages and the increased price Of machinery
ID supplies. the average hgure received for
70 produrt Of the mines. during 1902. has
u scarcely more margin for proht than
hen copper sold AZ the low-record price
cehts. In iso4 Some OF the mines had
pntracts at higher prices for part Of their
fetal delivered In the earlier months OF the
har. and this helped the an. The dividend
hyments Of Lake copper mines have been
mailer than for some years, and In the case
I q number Of the mines the earnings have
pt suffioed TO pay expenses The market
rice Of practically every copper mine stock
as dwindled. and. taken all around. the
EAR has been one Of the least prohta bic
nown for two decades.
This has aroused a pessimistic feeling
,monG many residents Of the district. but
uch a feeling Is hardly warranted by the
icts Labor is fully employed at the hi CHEST
verage wages known for many years. with
,or@ men In the mines than ever before.
one Of the mines has earned as much money
5 M former years. but tho best mines have
n earned something in the way Of net pr Ofits.
he Calumet and Necla has got back 70 its old
ividend rate OF 100000 annually, a big
rop from the $4,000 900 paid in 1890. but an
mount equal to the di dividends paid Ia being
dded to the surplus. The Osceola has fallen
pom evil days financially, but the mine was
ever in as good physical shape before. and
hould make more copper In 1903 than In any
revious year. and make it at good profit
The Wolverine II the exception to the list
I misfortunes. for that mine doubled us
ate of production toward the close OF the
ear and has steadily maintained its old
ividend rate through the entire period OF
oppression The Quincy has done WELL
Though its output for the year will show
slight falling OF from 1891 The Franklin
as materially increased its production.
nd the Atlantic has about held its own.
he Tsmarack has had a Disappointing year
many ways. notably in the Unexpectedly
Oor ground secured from its new No. 6 shaft.
ak ing into consideration the poor results se- =
ured from the deep vertical shaft OF the Calu-
net and Hecla on the same lode. and the fact
hat shafts 8 and of the North Tamarack
Sere also disappointing. the conclusion that
he Lake mines, like all other mines OF copper,
row leaner with depth. is irresistible.
OF the newer mines OF the district the
loha~k has just started production, and
vhie no returns b1Te been given out the
esults secured are believed to be satisfac-
DRY. The Phoenix ID not vet producer
ut will haoeme one next spring. Expiora-
ions have begun on the Ahmeek tract for
he Kearsarge lode. The Centennial Is 1T Ill
eveloping on the Kearsarse lode and has
ONE excellent slopes In It's north drifts
he Rhode Island remains merely . pros
,ect. without any especially encoura ging
developments. The Arcadisn has been
tripped OF its best machinery. which has
zen taken to the Trimountain. The Isle
toysls Is working one stamp only. The
laltic has greatly increased its production q
nd Is now one OF the big copper mines Of
he world The Trimountsin is operating 9
wo stamps In its own mill and Is getting
xcelient returns. The Champion has also
tarted It's new mill and IL proving as rich as
vas hoped The Winons Is nov furnishing
ock to one head at the Atlantic mills. and
securing therefrom better than l per cent
ngot copper. The Wyapdot and Elm River
emain mere explorations. The Mass is
vorking one stamp and Is preparing to en-
lrgs its under ground openings In order TO
nrnish better selection and more adequate
upply Of rock. The Adventure has its ne W
nill in commission. and while the results
re hardly up to snticipstions OF share-
olders. They are by no means discoursging
aichisan is pla inning a new mill and Is open
ng some rich ground on its branch vein,
his anording the finest she wing OF heavy
opper to be found In any lake Superior
nine at the present time. Victoria is still
levelopius and has begun the harnessins g
q the big water power that is to operate the
nine and mill.
While the Lake mines have not yielded
RTge profits for the year, more millions havs
pesn netted by Lake Superior investors than
n any previous year. mainly through the
nine In Sochise county. Arizona. This ID
tss, I a. VAS a:ssIted Millions Of deilsT:
n Western m ines during the wear and much
II this Is hopelessly lost, but there are several
rood properties that promise TO give large
Much attention has been paid 10 milling
Ind smelling costs and REDUCTION OF sla 9
I'D tsngs ss, Hssss within ts the las! fey years
.conomy;. The percentage Of copper lost
Ind T is now about onshsif the Hsure e' Of Sesp ak
sns lie & best &mks The Calumet S % aud and %fs Tscis
mas Deen cOhuucting extensive experiments {
TewOrE large amount OF the older tailings
but has also greatly reduced the losses from
he. Mill A concentrating plan, y beins
built ot the Central NJ nine s to work the tai.
plant on the sands OF the old Franklin mill at
seasons The old Osceola tsilings at Han
cock have been leased with view 70 similar
work
a the smsiters I9rser furnaces arc used
and a number of labor-s9ving devices have
been adopted IN the last few years Cost OF
handling has been reduced, smaller per-
cost Is much smaller. owing TO the subst-
tut ion OF machinery for manual labor in
many places.
BUTTE, Dec. ~ All the mines OF the Butte
1909 have. been yielding ore during the past
wear, and the tonnage exceeds that OF the
two previous years, but from a monetary
sta ndpoint the returns will IN u far below
This Il owing to the difference In the price OF
this year to the operators In this district
Another serious loss comes from the de-
preston in coppeI There are bout I 200, ono
tons OF low-srade ore now blocked out in
cents, at n profit Of So 500, ,oOO The ANA lea .
mated being tho largest producer Is conse-
quently the hea West loser. but the company
Of Yfn it, mines ar. working fuiI b!asi It's mines
o re full of high-grade ore, During the yea T
II has mined and sent to it's smeltcrs about
5000 tons OF ore each day. To this can be
added ths OUTPUT Of senator On rk's propcrties
tana Ore Purchasing Commny's mines
which avera eos 500 tons a day; that oil the
Britannia eompany, 100 tons = day, and the
~, af.at 10 A.x Inc