The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-01-09
.COPPERS WELL UP.
Stocks Have Scored a Good Advance
and Lake District Investors
Rejoice.
1903 Will Be a Record Breaking
Year in the Output in the
Peninsula.

Houghton, Mich, Jan. 9.-The feeling
among investors in copper, shares is much,
better than at any time for fifteen
months. Despite the remaining effects Of
tight money and the warnings of the pes
simists, copper shares have scored good
advance during the past two weeks, and
have retained the ground won. While the
movement In copper may be little early,
in view Of the probable continuance of d
close money market for few weeks long
err, 1t IS the almost universal feeling on
the part Of the investment and speculative
public that the trend must be upwards
for some months to come, and of course
the market is made by sentiment, though
in the long run sentiment must be equal
ICED with fact. c.'' ,s r, = ~
The new stamp mill of the Phoenix is
enclosed, and should go into commission
some time next spring. The manage
rnent plans to run the single head in the
new mill on day shifts only, for 1908. This
is made necessary by the, fact that not
enough slopes have been opened under
ground to supply the head with rock for
double shift, unless the slopes are Quilted,
which would be bad policy.
The assessment of 81 per share levied
on Mohawk brings the actual cash invest
ment in that mine UP to $4,000, 900, or
nearly double what was expected when
the mine was organized four years ago.
The property, however, is a magnificent
one, and it's shares are selling at double
their actual cost. The stamps are work
ing at the mill and by February, when
everything is running smoothly, the mine
will be producing at the rate of 5000, 900
to 10000 pounds yearly.
The December returns from the Quincy
lead to the opinion that the percentage Of
copper secured was unusually low, proba-
bly, not much more than 20 pounds to the
ton II Is; becoming apparent that the
pig things Of the future in the lake dis
trict must be looked for from the new
mines, rather than the old properties, all
or Which, except the Osceola, have ached
practically their maximum output.
| 1t is evident that 1903 will be a record
breaking copper at the rate of 5000, 900
les making copper at the rate of 5000, 900
pounds yearly. The Baltic, Trimountain
and Champion are all turning out large
products' and the Copper Range Con-
| sol1dated company will be the second
largest producer of the lake district this
year, barring accidents of most unusual
/ nature. ..--... -.- .
| The Winona mill test has resulted far
| better than was expected by it's friends.
ana the management is much encouraged.
/ The showing recently secured by the
Rhode Island in it's lowest opening on the
i PeWab1c lode is more encouraging than
anything found at that property for near
ly two years. Word comes from the May.
)! flower that the copper showing at that
p1OpeIty is growing muCh better, which
is favorable news for the Old Colony as
| we'll.
i The Centennial will be ready to begir
, production this year. =
The Franklin mine made its larges,
) months product in December, and thu
largest annual output in 1902. The
Junior is producing a large tonnage.
l. All mining work was stopped at the
Il tTamarack Junior mine of the Osceols
company at the close of the year. The
; pumps are still working and winze is be
ing sunk, but no rock is going to TIL
3 mills. .:...s. -. It, ..-.,. !" -
The poor ground found at the bottom
Of all four deep shafts in the Calume
district is causing lake people to awake
& rather reluctantly, to the fact that cope
mines grow leaner at great depth in thi
: district, as we'll as in all the other COP
per fields of the world