The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-07-18
CALUMET & HECLA
| A GREAT CONCERN
HAS RESERVES OF MINERAL
THAT INSURE ITS CONSTANT
ACTIVITY FOR MANY YEARS
TO COME

None of the coppers have escaped
he shrinking process I'm the price of
their shares from the holdings in CAL
pumet & Hecla TO those OF the smallest
I'm the list. And G. a. III. (which has
shown a depreciation of about $3.50 I'm
The quoted price of its stock, Is prob
ably as stable as any property repre-
scented in the copper mining industry.
While IL has been i'm constant opera
tion for forty years, IL still shows large
reserves of commercially profitable
lode on both it's conglomerate and am
ygdaloid belts.
Calumet a. Hecla still holds the dis
tinction of being the only copper mine
working at "A profit on conglomerate
belt, or lode. other mines have been
started on the same formation, and
millions of dollars have been expended
in trying to develop profitable ground.
but upon either end of the
mass OF water-worn pebbles (the
remnant OF an old beach). there
r. not copper enough To pay for
the extraction. Copper has been found
but i'm too limited a quantity to return
a new dollar for the one put forth in
searching the depths of the Archaean
rocks OF that region.
1t is a singular fact that the Calu-
met e. Hecla company has all of the
lode that is OF intrinsic worth. the belt
upon either side OF the portion it
owns being too lean to- give anything
like a fair profit or any profit, for its
mining, crushing. stamping and smelt-
ing.
In its upper portions this great con-
gomerate reef was very rich i'm cop
per, so rich that the company could
engage in all manner of experiments
of costly nature and still have enough
left in earnings to pay handsome divi-
dends to the shareholders. The story
of the dividend paying performances
of this organization are known to the
mining world. They are talked about
i'm the prospects of nearly every con-
Germ that puts mining flotation upon
the market. To find others such has
been the ambition OF thousands, and
many have claimed to have mines just
as good. None have resulted thus far,
however. and the Calumet e. Hecla
still continues keeping up its regular
output OF ingot despite the fact that It's
mines have grown deeper and its
ground holds less i'm percentage of
mineral to the fathom sunk and open
ed.
The dozen or more big shafts which
are sunk upon the incline of the lode
each have a great block OF ground left
to retain these openings. This can be
secured when the organization so de-
sires. II represents a great rock tom
mage that would keep up the present
output, of mineral for many years, but
the time has not yet arrived when the
robbing process is to be applied.
Calumet & Hecla is opening mines
outside OF the old conglomerate. and
it also has territory well located upon
which nothing has yet been done. 1t
has of recent years purchased import
ant interests in other mines i'm the
Lake superior region, and has en-
trenched itself with possessions that
will enable IL to remain i'm the mining
vocation long into the future. 1t has
been improving it's great surface plants
and Il has gathered q notable array or
skilled men to manage its big affairs.
Great credit is due those who have
been looking after its interests, and at
the head of all Is Mr.. james Mac
Naughton. who has achieved signal
success here. He is well equipped for
the position. having been engaged I'm
mining many years. a portion of his
education was gained i'm the iron min
ing districts of Michigan and at a
time when low costs were Imperative.
due to n disorganized condition of the
market not greatly dissimilar to that
now apparent in the copper industry.
Mr. MacNaughton was managing the
Chaplin mine and he developed IL in
To one of the best I'm the long list or
iron ore properties of this region.
Since goin to Calumet e. Hecla he has
done much for the shareholders of
that organization that should be APP
preciated by those interested.
Calumet e. Hecla is one of the main
pillars of support of our copper coun-
try that will continue to be such for a
long time to come. Those who have
been saying the company was I'm its
decline, and that ii could not long
maintain it's present output of mineral