The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1906-08-20
CALUMET & HECLA.
Mines Wonderful Record-Those
Who Exercise Control.

How often do we hear that the famous
Calumet * Hecla copper mine. in the Lake
superior region, is controlled by so few
men that they can be counted on the fin
gers of one hand. Literally this state
ment is true. because comparatively little
Of the stock held by the original owners
or their heirs is now sold on change,
says the Mining World.
The current nigh price Of $685. for the
20 par value share might tempt the un-
initiated to speculate, but when II IS
learned that the Calumet & Hecla com
pany is now paying dividends at the rate
of $50 per share per annum, and has re-
turned $3.50 per share since its lncor-
pOration, in 1871 and has a surplus reserve
equivalent TO SOS per share, investors Will
not dispose of their holdings. The total
dividends up TO June. 1906, amount 10
$95, 80, 600 on an authorized capital of 81,
$4,000. The output of copper from 1871
to 1905, inclusive, was LIS ole, 534 pounds.
The extreme selling prices of Lake cop
per during this period were 30 cents per
pound high, in 1872 and 1873, and cents
per pound low in 1894. In 1905 the Calu-
met q HeCla company made sales at 1513
to - cents per pound, and in the six
months ending with June. 1885, Lake cop
per was quoted at Is to 10 cents per pound
I. o. b. New York.
During the period from 1872 to 1905
there was marked expansion in the cop
per mining industry, Judging from the
widely fluctuating ratio of the output OF
the Calumet a. Hecla mine as compared
with the total for the whole country. In
1872 the Calumet q Hecla mine produced
16162,1SS pounds Of copper, which was
total output of the United States; in 1905
the quantity was &,30i,000 pounds-the
high recorder sc per cent NOtwth-
standing the smaller ratio in 1905. the Calu-
met & Hecla mine is today the third
largest producer in the world.
1t has been the cornerstone for the pro-
motion of numerous copper mines and as
the kngpin in the alley of Individual
producers, has not yet been bowled over
by those who have tried to include il in
the so-called copper combination.
Those Who Control the Mine.
The reason is not far TO search. espe-
cially when il is understood that twelve
individuals, families and trustees of
estates control $3.50 of the 10000 shares
issued. The Shaw family of Boston owns
100 shares of a par value of $1S9, $50
quoted in the open market at $5,1S5, 400
which at the current rate OF dividend nets
The HigginsOn family hold $50 shares,
par value Sl5l, 80. and marketable at So
80 20. upon which dividends of $3l5,O00 are
being collected annually. President Alex
amber AgaSSiZ owns 900 shares, par value
$4,000 marketable at So 425, 900. and net
ting dividends of 10000, which, added to
his salary, makes a tidy income for a man
who has witnessed the growth of one of
the greatest copper mines in the world.
The Hunnewell family is credited with
:, 195 shares, par $79.Sl5. quoted on change
AT S2,1SS.575, and earning in dividends SOL
zoo annually. r. s. Oliver, trustees. of
Boston. to represent $500 shares, par $751;
500. marketable at S2.397.5CO. and yielding
dividends of $4,000 per annum. Other
large shareholders are the SaUer family.
,O31 shares; G. p. Curtis. .CS3 shares: Lee.
Higginson & Co. 2.032 shares; E. r. Ly-
man. trustee. $50 shares; n. II. Stone ct
al. trustees, 9S2 shares; J. y. Wright, $50
shares.
There are registered on the books of
the Calumet & Hecla company less than
30 shareholders owning over 100 shares,
and among these are many who have in
herited from early investors.