Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1905-07-28

a. w. Martin, secretary of the
Wh1tlach Mining company, has re.
tufned from Chicago, and announces
tnat arrangements have been def
niCely determined upon for the ex-
pehditure Of 100000 in development
work at the Whitlach. Union mine at
Unionville, a few miles from Hell
ena, property once celebrated as
the leading gold producer Of Mon.
Jana and which paid several millions
In dividends. Orders have been
placed for a new stamp mill, as well
as electrical machinery. The new
company which is operating the prop
erty consists largely of New York
and Chicago capitalists, and already
several good strikes have been made
IN the new workings, sufficient to JUS
THY the expenditure agreed upon in
thoroughly developing the property.
"A representative of one of the
largest producing interests says.
THE high level Of copper prices will
continue just as long as the present
industrial prosperity of the world
lasts. Copper Is a commodity and It
Is sharing with all other commodities
In the market created by the world
wide expansion that is now under
way. The fact that electrical con.
trivances of thousand kinds are
coming in use and being widely
adopted in every country gives cop
per the advantage of a relatively
stronger call than is enjoyed by most
other commodities. Electrical equip
ment has not yet reached the acme
OF its popularity-it has really only
Just begun. I realize that there has
been heavy increase In the produc-
ton of copper, and I regard it as
very fortunate. Had it not been for
this increased output we should have
had copper famine."-The Mining
World.
The common stock of the United
Copper company has begun it's divi.
dend career in rather a modest man.
ner, the directors declaring the ini-
tial disbursement at the rate of one
half of 1 per cent regular and one
half of 1 per cent extra. It is not
stated whether the dividend may be
considered a quarterly or semi-an-
nual distribution. The aggregate
amount represents $450,000 on the
outstanding issue of common shares.
The question is asked whether the be-
ginning of dividends on the common
stock of the United Copper company
foreshadows the beginning of the end
Of the company as separate oper-
atfng unit in the Montana mining
field and whether or not the next
dividend will be declared with an
Amalgamated board of directors in
control of the property and it's sub
sidiary properties, remarks the Bos-
ton Statist.
Sixty-nine American metal mines |
and works, situated in II different |
states and territories. declared divi.
dends in the six months ending June
30 amounting to the large total Of
$25,558,355. BY far the greater part |
was disbursed by properties which !!
have already returned nearly all, and. |
In few cases. more than their auth |
orized capitalization. This is good |
argument to puncture the bubble of
alarmists who persist in saying that
mining is gambling. Contrary, the
winning Of the precious metals is a
science worthy of better associations
than the stock spectators, whose
elastic imagination has often imper-
lied the pecuniary prestige Of invest
ors.
More than half, or $12,932,86S, of
these dividends, was paid by Is cop
per mines in Montana, Michigan,