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

BY WILLIAM E. CURTIS.
Special Correspondence of The Star and the
Chicago Record-Herald
HOUGHTON. Mich,
September p, 1907.
Horace ]. Stevens is the oracle of the
copper country. He is the author of an
interesting literary perennial called THE
Copper Handbook which tells you all
you ought to know about the copper
mines of the world for Mr.. Stevens Is in
communication with every recognized au-
thority and every source of information
en- that subject; and what he does not
know about the mines Of Mich. gan is
scarcely worth attention.
1.-THE three counties, Houghton, kewee
nav and Ontonagom, constituting the cop
per belt of Michigan" said Mr.. Stevens in
answer to my question, have probably
added more to the wealth Of the world
than any other equal area, except per-
haps the Comstock Lode OF Nevada, the
anthracite coal belt of Pennsylvania, the
Guanajuato silver district in central Mex
leo, and the Witwatersrand of South At
RIGA, which slightly resembles the Lake
Superior copper district in that its gold
values are carried in conglomerate reef
like the copper of the Calumet and Hecla
mine, with about the same width and
somewhat flatter dip along which mines
have been opened for about thirty miles
Butte. Mont, has also produced a cor
responding amount of copper with a con-
siderable by-prOduct of silver and gold.
The Elack Country of England has pro-
duced a million dollars worth of coal and
ironStone, and the total output of Guam
ajuato has been about 5000 $780, coo to date.
Development of the Belt.
THE total contribution of the copper
belt of Michigan to the worlds wealth
probably exceeds $6O,0O0.OGO. A little
mining was done here in the forties, but
the district was not developed until after
the war, and has been growing steadily
or almost steadily during the last thirty
or forty years. 1t takes from five to ten
years to open new mine in this district,
and it costs as much to prospect a prop
erty here as to develop one in most min
ing fields, hence temporary fluctuations do
not affect our operations seriously, either
in prospecting or in development.
Our great mine, the Calumet and
Hecla, began work in 1866, as two prop
ert:es. Each had arrived at the dividend
paying baisis when they were consolf
dated with three other small adjacent
properties. They were discovered by Ed
ward ]. Hubert. who now lives in Rome.
Italy, permanent invalid, nearly eighty
years old. In the slang Of the street, Mr..
Hubert bit off more than he could chew.
since. He had good tn ng. but couldn't
handle it. He hypothetical his stock and
let 1t drop out Of his hands He was an
able mining engineer, but a poor business
man. While prospecting he found on the
keweenaw peninsula a boulder Of con-
glomerate unlike anything in the way of
copper-bearing rock that had ever before
been seen in this country. and he uncov-
cred the bed upon which these mines were
opened. He quietly purchased three or
sections
which had received a grant from the
state to assist it in building the 500 ca
nal. That corporation Is still in existence
and Is known as the ST. Mary's Mineral
Land Company. Hubert obtained finan-
cial assistance from Boston people. who
organized one company after another to
develop his discoveries, AMI invested
nearly million and quarter dollars be-
fore the mines were put on a dividend
paying basis. In those days government
land was sold at a dollar and a quarter
an acre, and Drospectors were allowed
nine square miles. each of mineral land.
These lands were densely covered with
timber. and the stumpage more than paid
for them
M. Hubert couldn't swing his job
He had to keep borrowing more and
more money until slump came along
and he was wiped out. There was no
reorganization account of his losses
that being a personal matter between
himself and the man who loaned him
the money.
The Foresight of Agassiz.
"In 1871 the Hecla, Calumet, Red jack
ct, Scott and Portland mines were
merged. The three latter companies had
valuable lands with the underlay of the
conglomerate The combination has since
paid upward of 100000, 900 in dividends
moe than any other mining company
that ever existed. 1t is still owned by the
original stockholders or their descendants
and is a good deal of a family affair.
The REQ -ganizatien was merely a merger
of the same interests under the general
management of Prof. Agassiz who was
called a crazy Swiss Dutchman' for put
ting all his money into this nina. H
was professor of natural histo-y at Har-
ward College, and ona of the greatest
natuTalists the world has ever produced
Although the world knows him best a
naturalist. he was more of a geologist
than many men who have devoted their
lives TO that science. He examined HUI
bert's discovery for the information of
his brother-in-law. Quincy Adams Shaw,
became familiar with the mine and the
county and staked everything on his
faith in 1t.
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, Ca
bots, Smpknses, Forbes. Thayers,
Searses, Hunnewells, Higginsons and
others. They have all been made wealthy
by this mine. They own more stock to-
day than they did forty years ago, for
the reason that wheneve- the children of
the second and third generation have been
good they rave been rewarded with
share or two of Calumet and Hecla stock,
and their parents are always on the look
out to pick up any shares that may be
floating around for Christmas or BIRTH
it comes high.
Most Famous Copper Mine.
The capital of the company is $500, 900,
represented by 100000 shares of a par
value of $50 each, and not more than
5000 shares ever change hands annually.
Sales are very rare. The largest divi-
dend. which amounted to $40, 100000, four
times the capital stock, was paid in 1899.
Last year the earnings were even great
err. but only $7,50O,O0O was paid in divi-
dends. The directors added larger