The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-11-15
SOME COPPER FIGURES.
Lake Cost to Date Hes Averaged 11.s5
Cents Per Pound.

cents TcF TNANAs
some interesting statistics relating
to me present and future 90 the cop
DOR Industry have been prepared by
Horace j. stevens He says;
"Very exact figures are available re-
pmGug production. dividends. costs
and metal prices or tae mines ot inc
lake Superior district since first pro-
ductou was secured. in the year 1870
the t0taI output Cor that year having
been ouly 2Lss0 pounds az hmsn'"
Copper. Tho total production OF line
copper. ty lake Superior mines from
1895 to 1910. Inclusive a period o, SIX
ts-..v years. or tW0-thEls OF "a cen
turr. was -l43f12.t12 pounds having
81 .,r.se value Of s7lG N}s,Nfo. from
which were paid dividends uf $tN2.>24.-'
go ths ratio of dividends Co gross
1af4te. for This entire period. amount
ire tl 25.I per cent and dividends. dl-
yided by copper production, show aver
aee payments ol 3.56 cents per pound
The average price received for all
Lake Superior copper for this period oil
rixty-siN years was 1919 cents per
bends. leaves an estimated cost OF
1868 cents per pound for all years. Ey
adding the figures of expenditure on
unproductlvc mines, amounting To-
about 100000 900. the cost OF Lake SUI
usrinr copper would be made almost
49, cents per pound. and hy adding
further Sl5. 900 for assessments on
mines that have since repaid in dlyi-
dends the original assessments the
cost Of copper would Doe made about
11.Sl cents per pound leaving a net
MARGIN of profit. for the entire produc-
tlon. of almost exactly two cents per
mound. plus tho present aggregate 7
value of the various active mines.
-Omittinr the production of mines I
that have not proven profitable me /
average cost of Lake Superior copper .
Welded by diyidcnd-payiug mines, has 1
averaged about g.5 cents per pound /
for aU wears and the present cost OF |
making copper. by an Of the producing /
Lake superior mines. probably ls
slightly above nine cents per pound /
The actual average cost Of making /
conner. IN the leading producing ields /
rrnhabfv rs between nine and ten cents /
per pound. at the present time. some
Of the newer fields which are skim
ming their cream. show lower costs.
rut n Is difficult 20 see where the
world viii be able 90 produce its cop
nor In years to come at an average
cost OF materially under ten cents per
mound this figure excluding the limited
production of badly planned and badly
managed mines, which yield only a
small fraction Of the total copper out
nut. but secure their metal at an av-
craze cost very much higher than the
average cost OF AN mines.
-Far the immediate future the sup
rrg of copper in sight ia fully adequate,
and mo- anduly high prices need he an
fcipatrd. but the figures clearly fore
shadow another boom period within the
r.xt two 90 four years, at which time
tne alarmists viii Doe as badly scared.
far fear that the copper supply is pc
terinp out as they now are for fear
that the production rs 500 much greater
than consumption that nothing but |.
permanent disaster I. in sight Allow
ira an average increase of consump-
tlau of Z per cent yearly. the figure that
has ruled daring the first nine years
of the present century. the worlds re-
oufremeuts of copper viii amount to +
apuroxfnaJcly 1.65U.0g0 long tons in
1920. 2.955.0u0 long tons in 1890 ana
$3.50 600 long tons in 194y-the latter