The copper era., 1906-11-15
ENORMOUS DIVIDENDS IN SIGHT.
Estimated that United States Copper
Mines Will Give Their Stockholders
$75.OOO,OOO Next Year.
Compiled fOrthe Mining Review

Compiled for the Mining Review
Basing a calculation upon the pres
ent production of copper and posi-
BILE new production, and going upon
the assumption that the price of the
metal will be maintained at some
thing around 20 cents pound, it is
figured that the copper mines of the
United States and Mexico will give
their stockholders S75, 100000 in divi-
dends next year. While the caIcula-
ton is d comparatively easy one it
should be remembered that dividends
to that great amount depend more
upon prices being maintained at
high level rather than upon new pro-
duction. Any considerable increase
in production-and no increase be-
yond the normal is in sight-would
tend to bring down prices; but, to re-
peat, no unusually large increase in
production can be figured out. 1t is,
therefore, quite reasonable to assume
that the estimate of seventy-fiye
million dollars in dividends for next
year is not an unreasonable one.
There is every evidence that the de-
mand for copper will not decrease:
rather will it go on increasing-be-
cause. for one reason, the railway
companies must have it: they can
not do without it.
SHANNON.
Directors of the Shannon Copper
company in session in New York on
October %, declared an initial divi-
dend of 80 cents per share. All the
directors were present at the meet
ing. The dividend is paying Deem
Der 20 to stockholders of record De-
cember 3, when the books will be
closed. After the above dividend
vote had been passed the resigna-
lions of Chas. F. BROKER and Geo. c.
Gill were accepted and N. L. Amster
and VIM. A. Paine were elected as
directors to fill the vacancies. On
October l the Shannon Copper COM
pany had available $3.50, O0O AS the
dividend is not payable for two
months hence, by the time it is paid
the company will have the benefit of
two months additional earning,
which would add in the neighbor
hood of $4,000 to its surplus. A
dividend of SO cents per share calls
for the payment of Sl5O,O0O.
The annual meeting OF stockhold-
ers of the Shannon Copper company
will be held in Boston on the 21st of
this month. Hitherto the annual
meeting has been held on the fourth
Tuesday of November but it has
been changed to the third Tuesday
for this year. The opinion in Boston |
appears to be that there will be no
opposition to the new forces who are
seeking control of the property, and
that the present management, recog-
nizing that control of the company
has passed to other interests, will |
solicit proxies for use at the annual
meeting in the name of the largest !
stockholders, who sare William A. |
Paine and N. z. Amster. 1t is the |
opinion of some copper people that !
when the new management takes
hold Shannon stock will go to S25
share.
THE IMPERIAL,
1t is stated in a report from Tue !,
son, Arizona, that the Imperial Cop
per company is eXpending large
sums in development work and i'm
provements to plant. The proper
ties of the Imperial are in Pima
county. On the main shaft work is
being done on the 900 level and d
compressor with a capacity sufficient
to operate 40 drills to sink depth I
of one mile has been installed.
Work will soon be under way on the
smelter, which will be completed in
about six months, and which will do
custom smelling in addition to ham
ding the ore of the Imperial mines.
THE BOUNDARY DISTRICT.
The tonnage output of ore in the
Boundary district of British Colum-
bia in September amounted to 92,311
tons, as follows:
CRANKY Co.. ...... 81, 1913
Dominion Copper Co.. $40
British Columbia Co........ 62S
Miscellaneous. ............-... 1920
IOCdI ..'...'''' 0A'0AA
On the basis of recovery of twenty
two pounds of copper per ton of ore,
the CRANKY had an output of 1,500,-
600 pounds of copper in September
and the Dominion Copper company,
an output of 100000 pounds. The
British Columbia did not blow in its
new smelter until about September
ID. 1t is now treating about 200
tons per day and expects shortly to
be treating 1000 tons per day.
The Dominion Copper company is
installing its large furnace, which
will increase its capacity 100 per
cent. by December l, while the
CRANKY company is now charging its l
furnaces and by the first of the year
should be treating 5000 tons per day
at the minimum.
ESTIMATES OF INCREASE.