The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1913-12-28
'STR|KE WILL REDUCE
COPPER PRODUCTION
Lake Superior Region Will
Show Lowest Earnings
for Many Years.

The 1913 year will prove one of the
poorest for the Lake Superior copper
| district, so far as earnings are con
cerned, for great many years. Up TO
the time the miners strike was called
on July 23, the producing companies at
the lake were enjoying fairly prosperous
| conditions. The labor trouble was a
very severe blow, the effect OF which
is still being felt. Reports for the year
are expected to present a poor exhibit
as contrasted with previous years. espe-
cially 1917, which was most prosperous
one for all producing copper mining
companies Average price Of lake cop
per for 1918 will be about 1880 cents,
| the highest since 1907, with the ex-
ception Of 1912, when the average was
1858 cents, says Boston News Bureau.
Production of the district, which had
been running over 100000 pounds a
month previous to July, dropped TO
| around 100000 pounds in August and
September. but increased considerably
in October, November and December
with the gains in working forces. An
gust witnessed the entire suspension OF
mining operations at Franklin, Mo-
hawk, Wolverine and Quincy. Mass Con.
sohdated and Lake shut down early
in the strike and have remained closed
since. Franklin and Mohawk have not
produced a pound of the metal since
July, Wolverine has just got work fair
ly started after being closed tight for
several months.
The 1913 output for the district will
be approximately l49 $4,000 pounds,
which will compare with 2l6,000,000
in 1909, the banner year The 1913
output will run the smallest since 1900,
when total was l42, isl 900 pounds.
Labor conditions are now consider
ably improved. Osceola and South Kear-
sarge branches of Osceola are working
half capacity, but practically nothing
Is being done at the North Kearsarge
branch. Copper Range is working bet
ter than half and Centennial close to
normal, Calumet and Hecla is working
full handed; Superior is producing nor
NAL tonnages, while Allouez and All
meek have just got work fairly started.
Quincy is running about rs per cent of
normal.
Dividends paid by the Lake Superior
properties in 1913 will aggregate $S,-
2347sS, compared with S9.O69, 1903 in
1912. Calumet and Hecla leads the list
with $3.200,000, or $50 per share, COM
pared with s42 in 1912, followed by All
meek meek VIII tlO 1919 1919 PPaymsnt Of 81,
dSdluSl Tlo III Iol-s w olNcIlue cut ltS
rate in half, or from $40 to S5. Isle
Royale made an initial payment Of 81
per share the first half of the year
Champion Copper, owned jointly by
Copper Range and ST. Marv's Mineral
Land, paid 20 in 1913, against sl1 in
1912. Baltic and Trimountain, owned
by Copper Range, paid So and $50, re-
spectively, this year; in 1912, 81 and So
was paid, respectively. Copper Range
Consolidated at its meeting this month
passed dividend due January l.. VOL
VERNE passed its dividend due for pay
ment in October while Quincy shortly
after the first of the month decided TO
make no payment at this time All
meek in September reduced its divi-
dcnd from So TO SO, and at the meeting
this month declared 50, Mohawk in July
reduced its dividend from SO to so; Os.
ceola in October from $3.50 20 So
The passing of the Copper Range div.
idend was the FIRST break IN dividend
payments by that company since 1905.
when dividends were inaugurated. The
passing Of the Quincy dividend broke a
steady dividend record Of fifty years.