Bisbee daily review., 1903-11-03
THE AMALCAMAT-
 ED COPPER co.

The day before the Amalgamated Copper company di. ectois met to de clare the quarterly dividend this week and when the sJock was selling at the lowest price in its history (38 7-S) local broker said: boston will con- tnue 10 buy Amaleamated on a scale uown. You cannot convince copper Speculators that Amalgamated has not real value'
 He was right, hut he might have made his remarks even stronger, for Sou cannot cOnvinre an intelligent in Nestment public. which has studied available facts ami tgureS, that Anal. gamated $ not cheap at these prices, even though it be paying only $2 'haIe each year tn stockholders.
 There is bound to be a steady de- band for copper, whether it be selling for 17 cents or 9 cents a pound, and the Amalgamatnj company has weath- 'tred the severes- gales in litigation and in demcraliZed metal market, and from now on its position, in the
 
 The Amalgamated stockholder has tfls great advantage over stockhold- CTS in other big industrial comcanie3. thee are no bonds of prior ,Iens ahead of his interest in the property cl the company, and We nave no q, dbt but that if a ba'aTce she .I were n.al. public, it would be touEd hat the com pany's quick ass .ts would htlInce me present selling | ce O. he stock.
 The mines IIcer cO-Irul Cf the Anna gamated company plodu., over 1SO.000, ,000 poul Is of co0rer q year st cost at the highest not r'IInIng oyeI l-2 cents pound, that fn- Anaccnt!a, and at the lowes. probably under ' cents pound for Boston & Montana This production is capable of increase to over 200 100000 pounds a year, and Doubtless will reach this figure in 19U3.
 Figuring on 1SJ."00,000 pounds of copper at an average cost of 8 cents a pound and selling price of 13 cents which will be low average for this year-and the mines will net $9,000,- coo this year, or ,t ut s6 share, on the capital stock. But this is not the 0nly source Of Inc cIe. for an interes- in the company saIo, only this week. "The profits from copper really have nothing to do with the declaration of 2 ne- cent dividends per annum upon Amalgamated stock, for earnings of the Amaigamated company from its fallroads, umber properties, its gen eral stores, which stores alone re turn the company SoU0,000 net profit per annum. it's banks, water compa- hies, newspapers, etc, when the prop Crties are all in operation. return the Company an amount sufficient to pay per cent per annum on l.55v,D"o Anna gamated sAares.'
 The Amalgamated Copper company Is a business proposition in spite of its disastrous speculative record and the usual characterization of it as ''blinc pool" The one stumbling block m It's path at the present time is the litigation in which engaged in Montana with heirze, but even here there are indications that the worst f5 over
 A local decision on the famous Min rae Healey case vii be made shortly, and IL IS generally recognized that a stronger case was made out at the las; trial in behalf in the Boston & Monta- Ia company than @, t-c first trial. Al ter the decision by Judge Clancy the case will. of course. be taken to the supreme court, where it will proba- ply rest for year O. -wo.
 Heinze has been working the Min Bic Hoa.ey with e .a.5e force Of men and has been taking out great quanti- ties of ore. It is stated that ali his stor- age bins are Minnie Healey orc, and both conce ntrator and smelt- CT are working fuii capacity on it.
 Without the Minnie Healey the Boston & Montana is making a great showing in tn matter of pro0uc- fsoo. and ~ run z, ",Ose second the Anaconda as c producer this year
 The LaIumet & nec4a mine, whose stock IS Of .-e same nsr value as Bos- ton & .iontana, put which is quoted around sz3e Q share, produces about tse same amount Of copper annually as ooss tne AiOutei a, ana IL lne Ua- Innet's 100000 shares are worth $i30 d share, MOntana's iJ0,000 shares are easily worth about s300 each
 Ii is figeI cd that the Boston & Mon- tana has a cash surr.us of over $i,0v0- 6ve and will {, than s5,000, 900 Ies this year. The latest annual re- port of the Calumet shows that U had a balance oi assets amounting GoS6. .557 .024. 1Ae treasury Of the Amaigama:ed company is figured to 0oid anywhere from s15.00v,000 to S26 6.0G3, ,G00. These figures are esti- mates. but must be close, as they are complied from reports of the constit- ue1t companies to state authorities. With Montana earnings s4.0oo, ,oop tp Ss,Goo9eo. hat stock, which was exchanged for Amalgamated, is worth $Se share from that source alone. . The amalgamated ownership in An q CQpda 1nd Parrot is yalred af a tr1-