Arizona republican., 1903-01-02
Mines and Minerals
 ef Arizona
LAKE SU .ERIOR COPPER
A Review of Conditions Obtaining
 Through 1902.

HOughton, Mich, December 27.- l Special correspondence of The Repuo- lican.) .)-The year now nearly ended has
 not been altogether pleasant one Tor
 the lake copper mines. The price O.:
 lake copper has ruled between II and l. cents a pound for most of the time, and. taking into consideration the ;n- creased wages given labor and the in- i creased price of nearly everything in
 the way of machinery and supplies, the
 average figure received for the produc;
 of the mines, during 1902. has left scarcely more margin for profit than when copper sold at the low record price of 9 cents. in 1894. Some of the
 mines had contracts at higher prices | for part of their metal delivered in the earlier months of the year, and this has helped a trife.' The dividend pay-
 ments Of Lake copper mines have been smaller than for some years, and in tie
 case of a number of the mines the earnings have not sufficed to pay e.S- penses. The market price of practic- ally every copper mine stock has dwin- l dled, and, taken all around, the year has been one of the least profita bIc
 known for two decades. This has be .
 gotten a very pessimistic feeling on the part of many residents of the dis
 triCt, but such a feeling is hardly war ranted by the facts. Labor is fully employed at the highest average wages known for many years, with more men in the mines than ever before. None ui the mines have earned as much money IS in former years, but the best mines have al earned something in the way of net profits. The Calumet and Hecla has gotten back to it's old dividend rate of S2,000,000 annually, a big drop | from the $1O.00O, GOO paid in the calendar ! year 1899, but an amount equal 10 the
 dividends paid is being added to :re
 surplus. The Osceola has fallen upon
 evil days, financially. but the mine was . never is as good physical shape be-
 fore, and should make more copper in
 1903 than in any previous year, and
 make it at a good profit. The Woiver-
 inc is the bright particular exception
 to the list of misfortunes, for that mine
 has doubled it's rate of production. 2 toward the close of the year, and has | steadily maintained it's old dividend
 rate through the entire period of de- ] precision. The Quincy has done well
 although it's output for the year will
 show a slight falling off from 1901 !. The Franklin has materially increased
 it's production and the Atlantic has
 about held its own. The TamaraCf f
 has had a disappointing year. in many i ways, notably in the unexpectedly poor ground secured from it's new No :
 shaft. Taking into consideration the : poor results secured from the deep yer ! tcal shaft of the Calumet and Hecla, on the same lode, and the fact that
 shafts and i of the North TamaracB
 were also disappointing, the conclusion that the lake mines. like all othe. i mines of copper, grow leaner with depth, is irresistible
 ] Of the newer mines of the distric; the Mahowk has just started produc. ! tion, and while no returns have been . given out, the results secured are sat [ 3sfaCtcry. The Phoenix is not vet 2, 1 producer, but will become one nexr spring. Explorations nave begun or the Ahmeek tract, for the Kearsargr | lode The Centennial is still deveIop- ing in the Kearsarge lode, and has ! some excellent stopes in its north drifts. The Rhode Island remains ] merely a prospect, without any espec- faiy encouraging developments. The Arcadian has been stripped of it's bes; | machinery which has been taken to ta, 1 Trimountain. The Isle Royale is work ! ing one stamp only, and can scarcely be earning expenses under the circu-n- 1 stances. The Baltic has greatly in- creased it's production, and is now on. of the big copper mines of the world The TrimOuntain is operating two
 stamps in it's own mill. and is proving as rich as vas hoped for by it's moot
 ardent admirers. The Winona is now ! furnishing rock to one head at the At lant!c mill, and is securing therefrom : better than one per cent ingot copper 1 The WyandOt and Elm River remain
 mere explorations. The Mass is work ! ing one stamp and is preparing to en-
 large it's underground workings in or
 der to furnish a better selection am