The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1912-10-23
PROPERTY HAS
BRIGHT FUTURE
Conditions at ene-Cananea
Are Reported Favorable

The conditions at the Gryeae-Cana-
nea property are such as to make IL,
larger holders very optimistic regard
ing the future. The production show
go a falling of last month owing &c
interruption caused by the Mexican
troubles, but things are in Shape To-
substantial increase IN output The
output got as high a S 460o.0G0 lbs. Of
copper last May, but il fell of 20 A.
0i40eO lbs In August, as the COM
panv began converting the Miami con-
centrates IN the spring and the con-
verter capacity was not large enough
To care for more than a 100000 Do.
production by the Greene Cananca and
100000 lbs. by the Miami The COM
uany has completed the erection or
additional conycrters of the Great
Falls type, however, and would have
been able to show an increase in Sep
TENDER except for the Mexican trou-
blcs.
The cold weather has begun in So
rora and the rebels have gone south
for the winter so that there is no
danger Of further trouble Tor months
10 come and in the meanwhile. the
Mexican revolution is apt to come 20
am end. There has been an eXaggerat-
ed idea Of the danger 90 the Greene
Cananea property from the revolution
for. as n matter Of fact. the company
has not been troubled throughout the
whole period Of the revolution except
for the few DAYS that shipments were
held no by the burning Of bridge
between Cananea and the United
states in September, while now that
the bandits have sought a warmer cli-
mate there is no danger of any FUR
Their interruption So far as the prop
erty. itself. is concerned, there are
not enough revolutionists in the field
h. capture the city Of Cananea and the
mines are as safe as though they were
i'm the United States.
The company is believed 10 now
have capacity sufficient 10 pro-
duce 5000. 900 lbs. of copper per month .
from its own properties as well az
1000 600 lbs. for the Miami II is be-
Heved that with such a production the (
earnings viii equal more than 81 per
share The Developments az the var!. (
Gus properties controlled have been T.
favora bio and there IS now a sufficient
quantity Of the different ores required f.
&C. get The best results from the smelt-
-r II is expected thar the cost for the
current year viii be In neighoorhood
Of 10 cents per pound. including con-
struction. as considerable new work
has been done I'm adding 20 the capac-
fty of the plant and 81 is understood .
also chat the company bore the ex- .
porse Of repairing the railway bridge .
which amounted 20 nearly 100000.
Costs Are Low.
The costs for the new year. however T
l.uId 5e down around cents per
POUND. which would mean earuiu7e (
with copper at l7c ana the production .
az 70.860OO0 lhs. o. Sisoooo0 plus /
tho earnings from the treatment o;
tho Miami concentrates. which would T.
bring me total un % fully 81 per share. I.
AS the c0mpau has an excess or
more than &4,000.O0O Of current as
sets over liabilities, it seems reason F..
able To- believe that stockholders in f.
1918 win get even higher dividends f.
than the 81 per annum rate establish +.
on this month.
The pricr of the stock has failed t'|
reflect tho increase in the dividcn'