The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-01-29
HIGH PRAISE FOR
CREENE-CANANEA
IRON ORE SAWS MINES HAVE
GREATLY IMPROVED UNDER
The PRESENT EFFlc.
TENT MANAGEMENT.

Concerning Greene Cananea the lsh-
peming Iron ore OF saturday says;
Fuel OF has done great service for
Greene Caramel. OF Cananea. Mexico.
We recall Ia one OF our trips OF inspec-
ton to this property that eighteen
men were working In the boiler house,
feeding coal 10 boilers handling ashes
and other wastes and that Il was a
very warm place In the hot summer
months. Upon the occasion 81 later
visit we fourd this great battery OF
boilers being attended by a single man.
whose duty consisted IN watching the
feed. and who occasionally turned
valve for its proper regulation. II
was great change in this single de-
partment and suggests what economies
attended the use of this oil fuel
Has Made Many Changes.
Greene Cananea has made many
important changes since the present
management took hold of its affairs.
It's equipment was crude. but agreeing
with others at copper mines of the
country at that particular time. Costs
we're high. but this was also true Of
nearly an the mines az that period.
costs could be high with the metal
selling al 20 20 % cents per pound.
which was the ruling figures when
Greene was taken over by the inter-
ests now controlling Il. Based upon
the conditions of market then prevail
ing. and which had ruled for some
time. Greene was well worth its par
value OF 500 per share. 10 could make
a showing warrarting the price Con-
ditions for the future appeared sound.
The copper men figured the price
would be maintained FOR some time 10
ccme. but they were not controlling
the political destinies OF the United
States
Mines Are Improving.
The mines of Greene Cananea that
we're in operation when the present
company took charge have been en-
Iarged new ore deposits In these prop !
critics having been found. mining sys- I
TENS have been changed 10 those of
modern kind and particularly adapted /
Ia conditions here prevailing. Several |
new mines have been found and are
being developed, and with this, as
Iron ore has often stated, there are
yet miles upon miles OF virgin ground |
located right in this great mineral
mountain range and holding an inn
mense tonnage OF copper ores of com |
merclaI grade that can be drawn up !
ON whenever wanted.
Pays Initial Dividend.
At a meeting OF the directors Of this |
company held Tuesday last, dividend |
Of 20 cents per share payable on the
first Of March next 10 holders Of stock /
of February terth. was declared Thus |
has Greene, while conducting a most |
elaborate series Of improvements and |
extensions. and in a very low price
metal market demonstrated it's abui-
~. II should be remembered that me
dividend was earned with copper |
selling at a shilling. At Il cents the
company will make q proportionate |
better showing I'm earning capacity
Announcement Welcomed.
AS Iron ore has frequently stated 1
Greene was a most valuable property !
when copper was selling above 20
cents per pound. as was the case when /
tho property was taken over by its |
present owners. hut il was true that |
even at 20 cents the old company was |
practically earning little, 81 any. !
money II was what the practical |
mining men knew could DE done In |
lessenng costs they apprecIatlng the
magnitude of the ore deposits, that |
particularly appealed to them They |
have accomplished an, and more, IN |
this direction than they ever predict !
ed or estimated in any reference 10 the |
property There Is no one making ex-
cuscs for Greene 10 needs none. The |
shareholders are naturally pleased !
that the dividend is coming. II will be |
a great help TO many and 10 Is heart
ily welcomed.
Splendid Work Done.
DIR. L. -. Ricketts, and his corps OF
assistants have wrought great
changes here, and to Or. Ricketts,
much is due for the outcome that
found such forciblc expression at the
directors meeting Tucsday. II has
been a big work perfectly done, and no
better evidence Of the wisdom OF the
directors OF the organization could be
presented than the selection Of their
general manager. DR.. Ricketts, is at the
very head OF his profession, skilled
and practical. tireless worker who
IS overlastihgly seeking ways and
means 20 sull further add 10 the eff
cheney OF the enterprises under his
charge. And he still has ideas to be
tried out for even lower costs at
Greene Cananea.