The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-05-21
QUINCY EARNING
OYER $40 SHARE
COMPANY HAS DEN TED
GREATLY FROM INCREASE
PRICE OF METAL. OUT.
PIT Is LARGE.

IN the price n copper. there would b.
but little To divert attention to the al
fairs of Quincy. as It's production anJ
costs vary but very little year IN and
year out
With its large production In proper
ton 20 its number OF outstanding
shares the higher copper market has
resulted in quincy earnings showing
an exceptionally large increase. as Wit
ness the fact that for 1911 let earnings
Per share amounted 10 S4.6l. and that
at present with the same rate OF pro-
duction and after allowing for the In
creased cost in consequence Of higher
wages the company is earning IN ex-
cess Of $40 per share.
Net earnings for the Grst four
months % the wear were probably OF
sufficient volume from which TO meet
the dividend requirements and provide
for the payment If the $4,000 no;c
due 10 the ST. MaTi's Mineral Land
company next July which fact togeth
en- with the companys strong financial
position ard the favorable outlook for
the copper industry, has given rise 10
the rumor that the next dividend dec
laration will show an increase.
For a long term Of wears the Quincy
has adhered 20 q policy % territorial
expansion. the lands thus secured in
Guiding those on which Nos. and .
shafts arc opened together with those
extending from The latter 10 the !
Franklin boundary "A distance of ove- +,
5000 feet. In due time the territory |
north Of No. Will be DEVELOPED. 80 \
that while the Quincy il the pioneer in /
this country's list OF active producers, |
its future has been we'll cared for, OK /
peDdi,ures for this purpose. aside from
those for the Mesnard property. upon
which No. S shaft is sunk aGsregatsng
si,52oo0o.
The Quincy stiu owes the st. Aia-y~s
company s3oo.ooo on its recent land
purchase. but an average selling price
Of copper this year OF i4ls ccnts. earn
ings would be sufficient 10 entirely
wipe out this Indebtedness and still
provide for the current rate Of divi-
dends.
The advantages gained by Quincy in
pursuance OF its expansion policy are
impressively set forth in the fact that
it's No. shaft is the leading coatribut-
ing factor 10 both its production and
daily rock output. As above stated.
this shaft is located upon what was
known as the Mesnard tract, !
acquired some fourteen years ago.
riffs north from this shaft have al
ready entered the ground more recently
purchased from Arcadian Tor $4,000
Ultimately No. s Will also command
a portion Of the territory acquired from
The 81. Marys CO. Tho dissemination
Of copper - more uniform in the
ground tributary TO 80. 8 than any
part Of the mine. a fact in par, ac-
for the satisfactory results
secured from this source.
Underground connections Will short.
y be established between No. and the
new No. shaft to the north. There is
no disposition 20 push work at No. q,
which IL not expected TO become an
important producer until 1915 As yet
no drifts have been started from No. .. 4,
md IL Is supplying 10 rock tonnage :
goes without saying. Produc tiyeness at
his shaft is expected at j depth Of :,
something like 500 feet. I,
Excluding the virgin territory north
II No shaft whi-h includes No. 2
md the territory north. the bottvm 81 !
quincy mas reached an average depth
,n tho dip Of the vein Of 1900 feet. con-
,idcring which the results being OIL
aimed speaks volumes for the eificien
~ Of the working organization and q
surface equipment
Operations as bearing upon produce
ion are now confined 10 shafts Nos. =.
,, s and z which command a length on
me Pewabic lode Of two miles. This y
of energies has been rem
Tered possible by the installation Of the
electrical system Of haulage. it being
evident that the average length II
rams is longer than that Of any of the
ieighboring properties Daily rock IA
,hipments aggregate 400 tons. hoist G
ID from an average depth of over Il a
nile, as witness No. shaft is 6.40o 4
eet in depth and No. over 5000 feet .
Alouez. +
Allouez earnings in the last three 1,
ears have averaged less than IS cents
share and the stock Is selling at a.. n
II course. this WAS on low priced cop {
Ter. averaging around 13c. a pound. yet N,
wen II copper had been &c. the earn
ngs with its production and cost OF
he last three years. would have aver a
ged less thar $3.50
Clearly, the present price anticipates 9
much and Il appears now the reason
or this Is shortly 10 become apparent q
For the first three months OF the 4
ear, Allouez' production has been at 6
he rate Of 100000 pounds year. =
low the new equipment at its No. : /
haft is 10 be placed in commission 3
his consists OF a steel rock house ,
rusher, CT CINE house ard hoist. With q
his I'm commission, Allouez should I
ave no difficulty IN raising it's pro- 7
uction to 100000 pounds. and sup ;
osing that its cost at the same time {
hould be reduced to 1oc., the result j
Mt earnings on 16c. copper would be
per share.
Even these would seem TO have been