The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-08-26
COPPER ALMOST
As GOOD AS GOLD
NET PROFITS OF MICHIGAN PROP.
ERTIES ARE LARGE.
More of the Metal Is Being Produced
and More Men Are Employed by the
Companies Than Ever Before-Ac-
tion Of Calumet & Hecla Adds to
Confidence in Keweenaw Lands.
Special to The Journal,


Houghton, Mich, Aug. 26.-The copper mines
of Lake Superior are making metal, en-
ploying more men and, except one period, earn
ing larger net profits than ever before in their
history. At the time copper was selling at
10 cents pound in the spring and early sum-
mer of 1900, the monthly earnings probably
were trihe greater than at present, but the
price was abnormal and was maintained at
an even lower level only by manipulation, end
ing in disastrous break in prices. The pres
ent metal market is a natural one, and the
price of copper, while trihe higher than the
more conservative producers desire, is caused
by strictly legitimate demand. .s- .s--
Local rumor has it that the Kearsarge lode
has been located on the lands Of the old Cliff
mine, now owned by the Tamarack. If this
proves to be the case mining work will be
begun in all likelihood, at an early date To
the southwark the finding of the Kearsarge
lode by diamond drilling the lands of the
Tecumseh has resulted in stock market boom
for both the Tecumseh and Rhode Island prop
| critics. At both large amount of exploratory
| and development work has been done at various
times, with results of an almost uniformly
worthless nature. At the Tecumseh 1,O00-foot
shafts We're sunk on both the Osceola amygda-
lod and Calumet conglomerate, with the net
| suit of not finding car load of good mill rock.
On the Rhode Island work has been under
velopment has been pushed Systematically and
| carefully, nothing of any especial value has
been found yet ..- ''.'.g '+.
! The eastern fight over the Copper range is
| persons on the ground is unanimously with the
Paine interests. William A. Paine and his
| associates have been in control Of two of the
| three mines in the Copper range consolidation
since their first shafts started; have
| borne the brunt of the battle, and it is felt
| that they entitled to the rewards. Messrs
Burrage and Lawson, who have the other end
| of the controversy, not popular locally.
| The Copper Concentrating company has been
organized by r. G. Mays and associates, to
build tailings plant on the Quincy mill
sands. The capitalization is $4,000, and it is
planned to build a plant of about 1000 tons
daily capacity. AS the Quincy is making new
sands at the rate of nearly 1900 tons daily,
| it is evident that the new company will not
suffer in the immediate future for any lack
of material.
! Local men who have been knocking the
proposition of the Keweenaw Copper company
will find cold comfort in the recent interview
with President Agassiz Of the Calumet &
| Hecla. When so successful q corporation as
| the Calumet & Hecla announces that it intends
| to explore thoroly its newly acquired Keweenaw
the argument of the local wiseacres that there
is copper in paying quantities in that dis
trict receive a bodyblow.
| 1t will require several years of work to de-
termine the future of Keweenaw county.
| Work in the past has been confined almost ex-
clusively to the assure veins and to the ashbed
4 lode, the latter lying north Of the greensboro,
and being, apparently, a continuation of the
lode that is worked by the Atlantic mine in
1 Houghton county. There hundreds of
square miles of mineral territory on which the
hmy gdaloid and conglomerate lodes remain prac-
/ tically untouched. That all of the paying copper
/ In Keweenaw county is contained in the three
that will be most difficult to maintain
/ : II j ! y ( / 4 &