Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-07

descended to a depth of $50 feet with
out the use of steam power or high ex-
plosfves. They stabbed OFF the ore by
chiseling holes and tamped in Quicklime.
The mine was reorganized in 1876 under
the management of Matheson & Co. of
London, and for the last ten years has
been one of the worlds largest producers.
The Anaconda mine at Butte holds the
IN single year, the output in 1898 under
the management of Marcus Daily having
been approximately 131 100000 pounds of
fine copper.
THE Boston and Montana mine, which,
with the exception of a few founders
shares, is owned by the Amalgamated
Copper Company of Butte, is in the same
class with the Anaconda, Rio Tinto, and
Calumet and Hecla. 1t produces not only
about 95,OOO,O00 pounds of refined copper
yearly. but Is the second largest silver
mine in the world. and the first in Amer
lea, and is also one Of the lergest gold
mines in the country, although both the
silver and gold are merely y-products.
THE Copper Queen mine, of Bisbee,
Ariz-, owned by Phelps, Dodge & Co, of
New York, produced last year copper, sill
yer and gold to the value of $16.000,OO0.
Northern Michigan Mines.
There are 800 alleged mines. thirty ac-
tive properties, eighteen producers and
eight dividend payers in the three coun-
with five or six other mines that are earn
ing substantial profits, but, owing to their
youth, have not yet accumulated the sur
plus necessary to justify the payment of
dividends. Before the price of copper
went down recently these mines were
producing more than a million dollars a
week.
The total product of the northern
peninsula to date is about LOO 600 long
tons of fine copper, which may be esti-
mated in dollars as worth about 5000 =
100000. The fortytwo different com
panies in Michigan which made reports
to the state officials last year, as required
by law, have between 24,G00 and %, coo
shareholders scattered all over the country
which, eliminating Implications, probably
represent 5000 individuals, two-thirds of
whom are residents of Massachusetts
Abont 1000 Of them live in this neghbor-
hood The people of this county alone
own 1925 100000 worth of copper stock
including the control Of some OF the best
mines in Montana and Arizona. Practi-
cally all Of the money-Saving miners are
interested in local shares, and that has
been one OF the most powerful influences
in keeping the peace between capital and
labor. Every payday our miners buy
more or less shares in local companies
through stock brokers or banks, all Of
pecially for this purpose. Our banks deal
in legitimate stocks only, and discourage
wildcat speculations. Mining stocks take
the place Of savings banks to a very large
degree in this country We have savings
banks also, but they are not SO we'll
patronized as the mining stocks.
Stock Owned by Miners.
1.-The workmen In the mines of these
three counties probably own from five
million to six million dollars worth of
stock in the companies by which they are
employed. Hundreds Of workmen have
made large sums of money by such invest
ments, and many have been rendered in
dependent by the advance in the value of
the stock which they have bought with
their savings. This Is particularly true of
those who purchased the stock Of the
Calumet and Arizona mine of Bisbee,
AriZ.. next neighbor to the Copper Queen.
which was developed and organized by
Houghton county people. Most of the
original issue was subscribed for here in
small lots by our miners and other work
ingmen when the stock was very low.
Many Of them bought their stock as low
as 81 cents share and it has since been
worth $3.50 SHARE