Bisbee daily review., 1916-06-04
SHATTUck WILL EARN sl5. IN PRESENT
 YEAR
Skillings Mining Letter Says Big Bisbee Property Will Earn From $13 To $55 Per Share During Year 1915
LARGER DIVIDEND IS
 EXPECTED IN JULY
Vanadium Deposit Is Said To
 Equal In Value The Entire
 Capitalization Of The Shat tuck Company--$3, 500, GOO |

Shattuck mine will earn this year.
 it is estimated by experts who are
 watching all of the copper producers.
 from S13 to S15 share. says Skillings
 Mining Letter. This is from copper,
 lead. silver. and gold. The value Of
 the gold, silver and lead is charged
 against the cost of making copper. and
 with this large item thus employed
 the cost cost of making Shattuck cop
 per is reduced to around cents
 pound.
 There is a large amount of van adium to be extracted from this mine when the company has completed cer- tain tests, and this mineral alone was estimated some time ago to represent in values the entire capitalization of the Shattuck-Arizona Copper company, which is S3.500,000 In other words the vanadium was estimated to repre- sent a value of S10 share, but it is worth a great deal more now.
 Shattuck company has paid in regu- lar and special dividends total of $3,762. 900. and has paid thus far this year $2.25 per .share,s. or $787 900 in round numbers. Shattuck has always been in fine shape financially. It is not at all likely that when the direc- tors meet for acton on the dividend to be paid in July that s1.50 to s2 share will be authorized. Following the policy of the past, this would mean [ a regular disbursement Of 30 cents and an extra of S1 to S1.50. The -;I regular quarterly and 75 cents special. ] That there will be a further increase in the special dividend, as compared | with April. is quite generally under stood. All of the copper companies i are steadily increasing their disburse | ments, and are warranted in so doing | by the earnings
 While the Shattuck mine at Bisbee ! is good for many years, and the great | CT part of it's territory is as yet un- i explored, the company is evidently | looking far ahead. Long before the | deposits of the Shattuck are exhaust ed the company will be producing elsewhere. Reports from Northern Arizona mention that the Shattuck people have options on properties in the Jerome dlStrlct
 The Sattuck company has always been characterized by good manage ment. Some impatient people have criticized it for not producing and selling copper when the metal was very low. but time has proven that it was the better part of wisdom to con serve the mineral. Shattuck could easily at dull periods in the past ten years have earned fair dividends by irawing upon its large high grade re- serves. It could have made some money even at 12 cents a pound. but he management promptly put the lid Dn when price levels ruled much be- low 15 cents. and as result the has the ore which it might nave virtually given away then. to produce now at big money.
 Any time that copper metal goes below 15 cents every mine should see .o it that there is no accumulation of copper metal surplus. The evils "f a great copper metal surplus have been 7ividlv disclosed in past years. rore in 1907 and 1908. The hines continued to produce on i fall l .hev knew they had 9 total surplus If more than 300. .0OO OOO pounds. and lHbody wanted it very badly X situ-
 tion such as that hurts in manv ways. n the first nlace there is little profit n prices In the second place the hines have depleted themselves inst hat much. It is natural wealth that an never he replared Tn tho third )lace the industry is confronted with perhaps q year of waiting for better prices after good times and good de- nand prr the metal arrive This 'reat surplus prevents the mining in- lustrv from participating until after he process of consuming it. The Shattuck mine has nrobablv obtained higher average price for its copper han any other conner mine in the country. f)r the reason that the man
 cement would not sacrifice the metal. | z is doubtful if tho corner mining { industry of tho ITrited Sta.e~ e~or Illowed iteslf to build m arothe- hir urplus. Tho rinine comma rios have ( discovered that they can curtail n'',d- lction 'o .reat~r advantage than they 1.
 Continued on Page Two)