The Calumet news., 1910-07-12
COPPER OUTPUT
IN HALF YEAR
HAYDEN, STONE & co. REVIEW
RECORD OF PRODUCERS DUR
ING FIRST SIX MONTHS
OF 1910


months of 1910 1t becomes possible an
opportune to review the record mad
by the most important producers O
copper during this period
The commendable habit which mos
OF the producers now have, of report
ing their outputs monthly or quarter
ly. makes il possible to figure pretty
closely the results obtained during tn,
first six months OF the year, and tC
estimate results for the year, as O
whole
Ahmeek is one Of the very few Calu-
met & Heca companies that has pro-
duced substantially more than half as
much copper in the first six months Of
1910 than in the year 1909. 1t has
made good progress with its two new
shafts, which should be a factor I'm its
production by the close OF the year. II
has put two heads OF its stamp mill in
commission. % which IL is sending
abCat lcao tons day. the balance Of
siF sons helng treated at the Franklin
-l -he othsr heads are expected 10
De- rea5g 1ext faiL In spite of It's
tni1rst1 Fre5ucliCr Ahmeek is being
btlt a,aEE. The company could easily
ns Tnnae 1a s4r- to-day a great deal
mirt lhlu 81 is. a-5 with only TWO OF
d-s fmr saAfrs as get producing. and
hIr rs MIN t,g-1T-.e-s .l commission.
- E1il fi.s q crsa1 5s1I u discount
Nliuua2 Alhs Fr15ucs5 more than half
as uual c.Eg,sr - E 1898. but is very
u,Hi''tF l,ti.Ie h585 back. In January,
kHpuez gr-Hbnee5 sf5.5t5 pounds. and
In FeirB1F 5gGbbb blt since then has
l7usri.rs't l,,l,-. tsihl.s pounds a month.
1.l.sr EsIr 1..e company spent over two
.nfurs a g'-.--E sCr construction and de- !
EsiitgcDs-s uorE and will probably do |
fn'lsl- rts same this year, so that the |
uisd earnings reported will be negligi- /
aas. t-r there Is a well-defned feel
-1.E c1zt Ai.Ouez has very nearly I
'sEEA=t the point where it could es
made 10 show consistent earnings
AZzlgamateds' output for 1853
Ht-Ssti1 900 pounds) was that
Ecr-zIiy owned by the company |
Eenceforth. OF course. it will simply
control about 20 per cent Of Anacon-
t41s output. and its earnings per share
@in bs twice that Of the latter com
szuy
Anaronda's 1903 output, shown
la1vs. ls cn ths basis of the new align
-=Et- The Essste companies clrtaiI-
-'1 h=zV--v lhe first tao months q this
gesar- Am az the moment are driving
r.ei- plants o. f1I capacity. aud II
rhls policy Is continued should make
- a good part % the deficiency
Butte Coalition. Ike the other Butte
-11n Fanles. does not make any month
y o. quarterly report o. ltz output. but {
-n vieE q the general curtaiiment In
Butte early IN the year the above ce-
innate ~ 1900 600 pounds as ity out d
put f0r the first half of 1910 is probab-
y generous. X IL not likely 20 better >
very much the poor showing IN net u
earnings that II made in 1903
Calumet a. Arizona's cost last year.
including all outside development and 81
construction work, was 1I.3 cents The ,
development Of outside properties has q
'een discontinued. go that. I'm spite Of I'
he tendency Of the ore to decrease IN "
'alue its cost this year should not be -
'vCr 10 cents a pound
Calumet & Hecla, as usual. during u
ow metal markets, has maintained an -
policy OF rctrcnchment ID
arnings are likely to be under those 81
Z last year. but sufficient comfortably "
o care for it's present rate OF divi-
ends and provide money for its out -
ido properties. II
Centennial has made rather a sorry -
howing so far. Last year it failed to -
arm its expenses by $4,000. and 1t ~
not likely to do any better this year o
Copper Ranges subsidiary compan- W
IS statements for June are not vet
ublished at this writing but from
1eir outputs for the first five months T.
Is possible to estimate the produc- NJ
on for the first half year quite ac-
Baltic e Champion are do
lg especially well, and the company
lould be able to make new high g
cord I'm output this year. and earn
> present rate Of dividends from its
opper production alone
First Nationals cost of production
st year was exactly equal 10 its sell -
IL price. Its output this year should :,
? little larger, and II may be able TO ~
Ike cent Of its cost. but resulting
Il earnings will hardly be appreci- l'
ole when divided by the number Of 'e
lareG.
CRANKY according 10 local accounts. 81
as maiptained an Increased rate OF "o
1tput, and should make new high
cord for itself this year. Its en- oi
irged smelling plant Is all paid for. at
nd u would seem safe to figure its C'
inside cost OF production at II cents ue
pound. giving IL. theoretically. earn lo
ks for the year OF 81 a share. The ti'
.ock market, however, tells a differ loo
NJ story: either stockholders have sh
zen frightened out of their senses or TO
lie last word on this property has not Ju
zen said.
Greene -Cananca's production shows on
ute little gain for the half year. co
nd this should mean somewhat tn
'wered cost Of production. n IA oulte be
pssible that the company viii sbow pli
lrnings Of so cents per share This
ear though IN 10 ,c,.,.... 81 -