The Calumet news., 1912-05-25
CALUMET and HECIAS ANNUAL REPORT OFFERS
MUCH ENCOURAGEMENT FOR THE FUTIRF
Shows Decrease in Costs, Increase In Production
and Betterment in the Copper Values In Both
the Conglomerate and 0sceola Lodes
(eY J. A. MlNNEAR & COZ


The Calumet & IIecla report issued this weel
offers the future of this com
than previous Of years past In prac
that OF the previous year. report cover period
of but eight months ending 81. 1911 This chang,
made 10 conform TO the general plan AIichigar
mining companies in issuing for the
The report shows decrease in from s.52
cents per pound The price received
1911 1882 per pound against 20 cents in
1870 substantial increase the output the year
is also noted in production was 7413Os77 pounds
OF refined while in 1910 72O59545 pounds
The year showed slight beterment in copper values
25A1 pounds ton of rock stamped being obtained
Both the Calumet congomerate and osceola odes gave
better values the conglomerate rock ran soss pounds
and the Osceola lode gave 1889 pounds.
In commenting physical conditions President Shaw
in part says:
Development ground adjacent to the Red JACKIE,
shaft is nearly completed openings in the five
forties continue ground about average quality
At the Hecla and the ground opened
is quite to the
The openings during year Con osceola ode) have
shown ground of quality greater amount.
OF good ground have opened on the foot
side of lode"
The company has finished plans new pebble min
for regrndng sands from the Calumet mill new hos
pal to be used for Calumet allied companies
and also to meet requirements community is also
planned Charles Raht for thirty years charge Of the
selling OF Calumet Heca copper resigned in December
The financial does credit Calumet & Hecla
company, though in Disgusting the real and
strong position The report balance Of assets
amounting $1126S1O6 This not include the notes
which at the end of year amounted to $s5sOOo
During the month of March company retired notes
amounting to $17OOOoO and in May gave notice fur
her retirement next September sOOOOOO Ave per cent
notes This will notes not duo for ten
amounting s5SOOOOO The payment OF notes this
year will saving in interest OF srs5 per share
IN Calumet & Hecla stock.
On the production 7iOOOOOO pounds copper In 1911
It cost of $50 and sold at average price 1882
let earnings about $3 per share against $24 paid
n dividends during the year.
Assuming that during the year Calumet & Hecla
hows equal production the of produc-
sixteen basis copper be in excess of $55
The income from subsidiary companies during 1912 win
e well in of interest payments notes. so that
arnngs will be better than indicated be-
of the appreciation Of the conditions in
he annual report that have felt for past that
'alumet Heca cheapest Lake Superior cop
er stock.
1t is interesting to note the holdings Calumet
Heca stock With but few exceptions the list was un-
hanged during the period by recent report
alumet & Heca has increased its equity Centennial
rcm 4S1O0 to 435OO shares; Copper reduced from
$500 to S65OO shares Gratot increased $4,000 to
o'1O0 shares; Seneca holdings increased seven
hares; White Pine Copper preferred from 23sl
, 3792 shares.
The holdings Calumet q Hecla according to the 1911
rports in the subsidiary companies as follows: