Bisbee daily review., 1909-03-30
ISLE ROYALE
 HAS \ BUSY
 YEAR IN 1903
Report of Operations Show a Large Expenditure and Much Development Work in COmpany's Properties

BOSTON. Mar. 29.-The year 1908
 Tor the Isle Royale Copper Co. was a
 gear of preparation. With one eX-
 ception the underground development
 work in that period was the largest
 for any year in it's history. Little
 Ealue attaches to any comparison ot
 operating results, although if there b
 any Ons feature of the annual re
 port just issued. which is more d's-
 couIaging than another. it is to be
 IOund in the reduced yield of the rock
 against an average of 15-2 pounds in fhe three preceding years.
 Iu view of the large amount Of
 underground work. as we'll as the
 argo amount of construction which
 Was carr.ed on during the year, it is
 Dot surprising that all of the surplus
 cash hes been exhausted The sO- called balance of assets" Dec 31,
 i90S. stands at S49.9A6, against S5Ol.- l57 Dec. St. 1907. The assets. however.
 l'clude S32. coo cf Lake Super or
 Smelling Co. stock, and supplies ana
 l1el Cu hand are inventor ed at s74.- 195. So. far as actual cash is con eerned. One company is under water
 and some financing must be arranged in the not distant future.
 If the management of Isle Royale is
 mrnod over to the Calumet Hecla Co. now the largest stockholder, with something Ike 27.500 cut of a total
 G gSe.0ee shares. some interest -ng cperatjnE problems win have to be soived Some uf the older heads in The CalCrlUs C Eccia management are .-s9 fF rFaA f.e considerable amount cT morey in the prosecution qf work on the Isle Royale iode where the company has planted . largo suE Of money. especially at Nos. {. { and shafts at the scuthor- V enc or the mine
 The late Quincy Shaw, in the early days. lost q fortune in the old HuroR property. TOW a portion of tho Isle Royale, anu It is not therefore un- naturi1 that in ysew of tbis fact and .he faitgre of the company in the Ileantue to dsyelcD commercial val les on this lode. that there exist a prejudice against investing further sums of money at this point
 The Calumet & Hecla people are believers, however, in the possibilities of the Isle ROyale property on the Baltic lode by reason Of tho very favorable Developments on this vein ID the Superior property adjoining
 1t will bb recalled that during the period when negotiations were on be- tween the Bigelow interests and the Calumet < Hecla Co.,, the stock mar set activity CT Isle ROyaIe was thought 60 rel Get the statut Of negoiat ems. The Boston News Bureau. however, stated at the time that if the negotia- dOns were successfully consummatsd. "a -uEnet S5 Heola would take over a smaller percentage of Isle Royals ,nan Of any ether Cf the Bigelow prJpertes. It efs since Developed l that Calumet G Hecla bought only IS l per cent interest in Isle Royala This ! compares with g per cent interest | secured in Osceola and Tamarack f7 per cent in Ahmceb. 59 per cent | "a Seneca and e per cent in Iairium l
 If. to the cost Of Isle Royale's oper- ! ltions iG 1908 there is charged all c-n- struUtion expenditures, as well as the l expense Of underground development, The total cost per pound of produc ng 5.011Qoo pounds Of copper was 2S.9s | ceats. which compares with a cost of 30.26 cents for producing Z.C6z 600 i ir 1907.
 During the past year Isle Royaio opened up 10.SS5 feet of ground and aggressive efforts were made to hasten the t.me when Isle Royale Ngil join the ranks Of the profitable producers. Tho closing statement Of [ he report ci Vice President Haire Is 8 igBificant:
 As ind eating the upward trend of the bus.aess, the month Cf lHuuary, 1909. shows an increase in rock ssampisd of f215 tons over the monthly average for 1908. Isle Roya!e is very much nearer the position Of a reHun- erahve mine than it was yasr ago.