Bisbee daily review., 1907-01-15


 HOUGHTON. Mich. Jan. 14.--The era of high prices for copper has made bonana mines of properties that were not in that class a year ago, and has made highly profitable properties of mines that were of a merely specula- tive character early in 1906. The earnings of the Calumet & Hecla are at the rate of fifteen million dollars yearly. at present, which. on a ten per cent basis, would make the stock worth s1 800 per share, instead of it's actual price of about $500. The Os- ceola, Quincy and Copper Range earn ings are in the millions, and even the Tamarack. which has had a hard pull for the past year, because of increased depths and lessened values, rendered worse by a serIous fire which has greatly restricted production is mak- ing handsome profits. The mine that is now on a producing basis and not making money is a decidedly dubious proposition. The Winona is doing ex- ceedingly well. and is netting $l2,OO0 to SI5, coo per month, and the Victoria, with a single head. is doing nearly as well Victoria rock copper is running about 1G pounds refined to the ton, of rock, and by reason of exceedingly cheap power costs, limited practically to the interests on the investment, the cost of production is held aL low figure.
 Runors of consultations to be con tinue to fill the air. The era of con solidatng industrial enterprises of all sorts into larger units began some if teen years ago. and reached the period of most active development five to sayen years ago, at which time a ma joTiry Of the great trusts and indus trial mergers of the present day were formed. The process was oveTd0Be, owing merely to the injection of yasJ quantities of water into the various combinations, but the logic of. circum. stances is memorable, and the small corporation of the present day nus, either expand within it's own corporate garments, be absorbed, or die. in -nl strenuous march of twentieth century industrialism there is no room for the laggards, Unless they can keep step they will fall behind the line of march and fall prey to the enemy.
 The Beweenaw Central railway, con trolled by the Keweenaw Copper Co has effected a working agreement with the Mineral Range railToad, by which the former is permitted access to Calumet over the tracks of the lat ter. Until this arrangement was made the Keweenaw Central has been opeT. ated at a great disadvantage, owing tC having it's terminals nowhere in par iEcular. By virtue of the new ar. rangement the southern terminal is now at Calumet, and 6 marked i'm provsment in both freight and pas senger traffic is noted already. A great deal of mining work is under
 Way in -keweenaw county at present and the railroad will prove boon tc , the various companies engaged in ex plotting the mineral resources of the district, and the road as well as the mine will profit
 The Medora shaft of the KeWeenaW Copper Co. shows considerable copper to the westward, but very little to the east, the mineral values to, the east apparently. having been robbed by { , cupriferous Assure vein on that side of the shaft. A peculiarity that per tains to the Keweenaw county minera ; field as a whole is the existence of ; great numDST OI coppSI-DSdEiuS iis sures that cross the stratified forma , tion, usually at approximately righ : angles. Practically all the mining
 work of the earlier day in KeweenaV
 county was done on the Assures, an'
 documents on record attest the in
 dignation of eastern boards of direct ors at the recklessness of sundr. |. Cornish minink captains who "squanc . cred" the funds of the various con { panies in following the copper-bear1n :, amygdaloids. Of the Keweenaw couI 7. Assures, four were considerable prt n ducers, these being the Cliff, Centra s Copper Falls and Phoenix. The Ch1 ,- paid more than two and half mi n lions in dividends, but became worke e out and has been idle for thirty year
 being owned at present by the Tami