Bisbee daily review., 1908-02-16

 Oh COPPER
 ARE IMMENSE
Several Properties Have More Than Paid Back Entire Capi- talization To Stockholders Some Notable Records.
Qron Ore.)


 Never since the inception or tLe l mining and metallurgical industries on the American contonent have the dividends paid by corporate enter prises to their shareholders been so ! large as they were for the year 1907. Greater still would these div idends have been had the market prices of silver, copper, zinc and lead and their allied products con tinusd at the high level which ruled in the first half of 1907 With the depression in business generally. notably in October, November and December, the mines and works which had been producing at their full capacity were either cut from 25 to 50 per cent or were discontin- ued until financial conditions show an improvement.
 World shows that during the year 1907 no less than 157 metal mines and works in the United States, Canada, Mexico and Central and South America paid dividends ag- gregating the large total of $97 7,521,- 705. Add to tais sum the dividends declared previously, and we have a grand total since incorporation or no less than s605,143,9 ,992. On the total issued capitalization of $7I3,52S, ,732 the dividends paid to the end of 1907 show return of about S3 per cent.
 Large Sums Paid.
 In addition to the above dividends there was paid in 1907 by eight se- curities holding corporations the large sum of s17,059,772, making the total to date s77,o3f ,091, which is equivalent to 6 return of nearly 30 per cent. on the outstanding capi- taiization of $2e0, ,426, 900 These se- curities holding corporations have been in existence not more than nine years.
 Another branch of the industry which earns substantial profits is that of marketing the metals on a commission. Undoubtedly the most prosperous metal-selling agency is the United, which markets the pro ducts os the Amalgamated Copper company and other large concerns. Tn 1907 the United Metals Selling company declared dividends of s2,- 125,000,- and since organization Gin January. 1eo0,) has paid a total of s5,625, 900, showing a return of 112 i-2 per cent o1 its capitalization of s5,000, 900. Very few people own the shares of the United Metais Selling company.
 Hold the Lead
 By subdiyiding the, dividends paid by the 157 mines and metalurgical works, we learn that the copper properties hold the lead. During 1907 no less than B copper mines, principally in tae United States, and capitalized at $204 ,226,145. de. clared dividends of $51,699,S4S.
 Since incorporation these copper mines have distributed among their shareholders the handsome sum of s343, ,4S7. .3s9, including that they have repaid more than one and one half times their outstanding share capital. No wonder the dividend paying copper stocks sell at a big premium as a rule, and tais also ex- plains why Calumet & Hecla and like meritorious shares are seldom sold and are held as an investment by the families of the original buy CTS. The Calumet & Hecla mine, capita lized at only s2,500,000 in s25 sharrs (which some months ago sold as high as $1,000 each), declared dividends in 1907 amounting to s6,- 5000 or 260 per cent on the capi- talizotion. Since organization Gin 1S07) Calumet & Hecla has yielded dividends to the enormous total of s105, 5,S50, 900, or 4,234 per cent on $2,- 500,00G capital. remarkable record for mine which produces ore con taining about ? IA per cent (45 lbs.) of copper per ton milled.
 The Largest Dividend.
 The copper mine that paid the largest dividend in 1907 is Anaconda of Montana, which is controlled by the Amalgamated Co.,; it was $7,S00.- 900 or 26 per cent on the capitali- zation of ss0,00e, 900. Since its organ ization in 1895. Anaconda has paid dividends of S3S, 100000, or 129 per cent on its sSare-capital Boston G Montana, another Amalamated pro- dizzy declared dividends of s6-300. 900 or 16S per cent. on it's $3,750 .GJ0 cap ital. making the total paid to date i s57. .025 900, which is more than 15 times the capitalization. This is an excellent showing for mine that has been worked under corporate laws for 20 years. One Of the more in teresting copper mines, opened with in the last seven years Is the Calu met & Arizona at Bisbee, Ariz, This property has an Issued capitaIiza ton of s2.0O0,000 upon which the dividends for 1907 amounted tc i s3,3000,000 or 1e5 per cent, mak ing the grand total to date $9,300, 900 or 465 per cent. h the same state. the Arizona Copper company largely controlled in Scotland. de clared dividends in 1907 of $3,300. OH; making the total since organi zstion Gin 1884 s11.142.192. The Arizona Copper company, by the way. has undoubtedly the mos perplexing capitalization upon which dividends have been paid in recen years on the guaranteed basis of tc 10 per cent on the preferre' shares with a bonus for the hold CTS of ordinary shares. severa copper mines in Michigan, Mon |