The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-10-09
SOUTHERN COPPERS.
News From Arizona Investments
Brings Cheer to Many in
rrg.-- ss Is b Ill as y ss-
the Peninsula.
Speculation at a Low Ebb, However
-Michigan's 1903 Production
e. 0yerestimated.
Special to The Journal.

Houghton. Mich. Oct 9.--Recent tele-
graphic advices from Bisbee are highly
encouraging to lake district men who have
invested millions in copper prospects In
Bfsbee and vicinity. The Calumet s. Bis
bee Is Ia low-grade ore; the Higgins is
penetrating a promising formation that
should give copper ore body the pres
emit month. and the Junction Development
company, looked on at it's formation as
something of a wildcat, owing, to it's Local
ton on Ethe conglomerate, has struck ore
at less depth than it has been found by
any mine In the district, except the Cop
persQueen's original workings, The White
Tail Deer mine of the Copper Queen is to
be 4reopened, and matters are looking up
generally in Bisbee.
Stock speculation is dead, however. in
the lake district. There are few sellers
ana FEWER buyers. 1t will require some
very sensational discoveries, or a general
improvement in the speculative condition.
TO start another BOOM There is, however
decided tendency toward hardening in
prices. foreshadowing an upward move
mentz generally in Lake Superior Arizona
mining shares, which may come within a
few weeks. or may be delayed for sew
eral months.
now at the "a te sof 80, 900 900 pounds of re
fined copper yearly. The first dividend of
this company may for may not be paid
next December. but probably will be de-
clared. In any case it will be slnalf-per-
haps 81 or $3.50 a share only. This will
be very much less than the, net earnings
of the year, but the management, which
is experienced and conservative, purposes
following the fine precedent set by the
best Lake Superior mines, and accumuat-
Ing a large working surplus, in cash and
quick assets. before dishurstng profits as
rapidly as earned.
~ - Output overestImated g.
ton by lake mines were too high in nearly
All cases. and the revised estimates now
appearing In print are also too high as a
rule. The output will fall measurably
short OF 2O0,000,O00 pounds, tho establish
Ing a new record Of production far in ad-
vance OF any previous year. There is a
constant tendency on the part OF the ma =
1ority Of statisticians and prophets to
oVerestimate outputs. AS matter of fact
1t is hard to see where the copper to
meet the worlds requirements for the
next ten years can be obtained.
The Baltic and Champion mills will make
extensive use Of regrfnding machinery, in
the EFFORT to save considerable percent
age, OF copper that now goes out Wfth4the
tailings Careful experiments have been
conducted, and the regrinding machines
are likely in time to find their way into
all progressive mills of the district s1'"s't
The sheet mill of the Tamara ok Oseeola
Copper Manufa curing company, at Dollar
Bay, will resume work next week with
orders ahead for a long period of activity.
The wire mills Of the same concern are
very busy, with good business booked
far ahead, - 81 $780,
The production or s451z tons of mineral
by the Atlantic mill in September is the
largest ever secured by the company. One
year ago the prospect for the Atlantic was
decidedly lowering. but now is brighter
than for some tiSne past.
III Underground Trolley. T..
Next week the Quincy will put its
underground electric haulage plant in full
commission with fourteen locomotives
Similar traction plants are needed at
many Of the other lake mines, and must
be installed in time. '
-: They would be great boon to the Tam
arack. which is handicapped by the long
est cross-cuts and dee2est N,afts found
In the district and possibly in the world
GLADSTONE, MIcH,-James Quinn. a brake
man on the 500 line way freight. killed at
Hunt spur. 1t is believed that he fell from the
top of a car. He had wife at Gladstone and
other relatives in central Wisconsin. :.
= IRON MOUNTAIN. MICH.--A large COLDER
rifle struggle followed. but Larson succeeded II
killing the bird with club. 1T measured sever
feet four inches from tip to tip. -