Weekly journal-miner., 1916-03-22
COPPER MINES REAP
 GOLDEN HARVEST
(From Fridays Daily.) (By F. R. Dyas)

Nby r. R- DydS) Although one adult out of every four residing in Arizona derives a livelihood from mining and its allied industries, and although the greater proportion of the States mineral pro- duction is in copper, few persons real ize just what the present market price of the red metal means, in actual collars and cents, to the copper pro ducers.
 For instance, with copper at 2S cents per pound. Calumet & Arizona. On its annual production of 65.OOO,OOO pounds. which costs 8 cents pound 10 produce. is earning S2O.20 per share cn its capital stock, which. with the market price at $74 per share. means 2 per cent on the market value
 Inspiration, producing at the rate of l20,OOO.0OO pounds of the red metal ger annum, is earning $2O.SO per share on 2S-cent copper. or A per cent on the market price of S47 per share
 Miami, the production of which runs about 45.OOO,OOO pounds per an mum, at cost of S1l cents per pound. is earning SPAS per share, or B per cent on the market price of S3S per share.
 Ray Consolidated, in the porphyry class, produces some S0OO0,O00 pounds ci the red metal annually at around 9 cents per pound, and is now earning $o.50 per share. or 36 per cent on market valuation of $25 per share.
 Old Dominion is earning about 30 per cent on the present market price of its stock.
 Net earnings of Shattuck-Arizona last year were S335 share on its stock. and it will do much better this year.
 Magma at present is earning around SC per share on its stock
 However, it is in the dividends paid tHat the great prosperity of the cop Ter producers is best reflected. and comparisons with the disbursements for the same period last year show a truly remarkable increase.
 For instance, in a single week this month. nine copper companies declar cd dividends totalling S10y6o4.S24, as compared to a total of less than S4. CG0O00 by the same companies for the same period in 1915.
 Calumet & Arizona increased its dividend to g, making a total of $1.- 234,S24, as compared to S3O2, 2,597 in March, 1915.
 Old Dominion this month will pay S405.0O0 as compared to SSl 900 in March, 1915.
 Ray Consolidated has begun dis bursement of S73O. O.4O2. as compared 10 $547.035 for the same month last year.
 Magma will pay S120,OOO this month. its third dividend declared.
 Chino will disburse Sl.0S7, ,475 this ! month. h March 1915, it paid but S417,S50
 Nevada Consolidated will distribute SlOO0OO0. For March, 1915. it paid | hut half this amount
 Butte & Superior this month declar- cd a dividend of S2.o31.224. This | compares with S2O3,5OO paid in March | 1915; as many millions this year as thousands last year.
 Calumet & Hecla has just declared :. 2 Sl.5OOOO0 dividend, while in March. 1915. the declaration was but S5O0,OO0 |
 Other coppers are soon to declare their first quarterly disbursement for the year. bringing a veritable flood oi gold to the exchequers of holders of American copper stocks. As the pro- ducers are sold up to June July de- liveries around 27I cents a pound, it is safe to predict for this year one of the most golden eras for the coppers known in recent times.