Semi-weekly herald., 1907-10-17

'ie'HNs NtHihes HNiiii' ASuo "
became familiar with the mine anc
the country, and staked everything
or his faith in it.
THE control of the properties has
| since remained in the hands OF his
family and friends, and the greater
part of the stock is held by twelve
families. all neighbors in Cambridge
the Shaws. Amorys. Cabots. Simp
| ilins, Forbes, Thayers. Sears. Hume
wells Higgsinons and Others They
have all been made wealthy by this
mine. They own more stock today
than they did forty years ago. for the
reason that whenever the children OF
| the second and third generation have
been good they have been rewarded
with share or two of Calumet and
| Hecla stock. and their parents are
| always on the lookout to pick up any
shares that may be floating around
for Christmas or birthday presents.
II is very scarce stock, and it comes
high.
The capital of the company is s2,-
100000, represented by 100000 shares
o. par value of 1926 each. and not
more than 5000 shares ever change
hands annually. Sales are very rare.
he largest dividend, which amounted
10 Sl0.0OO.000, four times the capital
stock was paid in 1899. Last year
the earnings were even greater, but
only $750000o was paid in dividends,
The directors added larger amount
than usual to the surplus and invest
ID more than $4,000. 900 in other prop.
critics. The Calumet and Hecla mines
proper will be worked out in about
twenty-five years. and the manage.
nent is opening new mines to take
their places. They are working in the
Porcupine mountains. seventyfve
niles southwest, and on the Delaware
thirty miles to the northeas of Calu
net, and are carrying on explorations
elsewhere
The most famous copper mine in
he world is the Rio Tinto. at Huelva
N southern Spain. across narrow
ray from the village of Palos, where
Columbus fitted out his expedition and
started on his first voyage of discov-
iry. That mine was worked in pre-
historic times, more than 5000 years
lSo, and it is a popular tradition that
he copper used in the construction of
iolomon's temple was obtained there.
Professor Voght, who is very high
authority. estimates from the Stag re-
naming that before existing records
jegan the Phoenicians. Carthaginians,
tomans Goths, Moors and Spaniards.
Eho had ii in turn, mined between
md descended to. depth OF $50 feet
without the use of steam power or
Ugh explosives. They stabbed of the
IRE by chiseling holes and tamped
II quicklime. The mine was reor.
;aniZed in 1876 under the manage
nent of Matheson e. Co. of London.
md for the last ten years has been
me OF the worlds largest producers
The Anaconda mine at Butte holds
he worlds record for the largest pro
luction in single year. the output
II 1898 under the management of
Marcus Daily having been approximate
g 13l.0O0,000 pounds of fine copper.
THE Boston and Montana mine.
which with the exception of few
ounders shares. is owned by the
Amalgamated Copper company OF
Butte, is in the same class with the
anaconda, Rio Tinto and the Calu-
net and Hecla. 1t produces not only
bout 95.000,000 pounds of refined cop.
ger yearly, bnt is the second largest
silver mine in the world and the first
u America. and is also one of the
argest gold mines in the country, al
though both the silver and gold are
merely hy-products,
4 ne NOppsT queen iulne Ol blsDee,
Ariz., owned by Phelps, Dodge & Co.,
IF New York, produced last year cop
ler, silver and gold to the value of
10000. 900
There are 900 alleged mines. thirty
tctive properties. eighteen producers
md eight dividend payers in the three
7ounties that compose the northern
peninsula with five or six other mines
hat are earning substantial profits,
but, owing to their youth. have not yet
accumulated the surplus necessary to
usiify the payment of dividends. Be
ore the price of copper went down
ecently these mines were producing
more than a million dollars a week.
"The total product OF the northern
iennsula to date is about 100000
ong tons of fine copper. which may
le estimated in dollars as worth about
900. 100000. The forty-two different
.ompanies in Michigan which made
eports to the state officials last year
- required by law have between "a.