Bisbee daily review., 1917-02-11

pend either by the purchase of adjoin- ing properties in the same or nearby districts. Some prominent and sue cessful mining organizations take the stand that when a mine is worked out the organization goes to pot, the ma chinery ought to be scrapped and the ? affairs wound up.
 2 Decided to Add to Holdings. Tt was less than nine years ago when the Calumet & Hecla corpora , tion, the earliest and, for many years, the largest copper producing property in the world, decided upon the policy . of expansion. A survey of the results are, at this time, interesting. The company had a wonderfully efficient organization. It had great quantities of copper conglomerate rock still un- mined. It ha dthe Osceola amygda- loid right parallel, showing fairly good results. It had millions invest ed in it's enormous mining. milling and smelting plant Some of the conglom- crate shafts were at the end of their usefulness.
 "The management determined that it's wonderful organization not only should be maintained. but should be improved and brought up to state of higher efficiency It likewise deter mined that its great surface plant should be mutually and advantage. ! ously utilized to the benefit of numer- ous smaller mines in the immediate vicinity of the Calumet X Hecla.
 This determination resulted in the purchase by the C. X H. of substan- tial interests in numerous other prop critics in the Lake Superior district. | At the time of the purchase only two of the properties were making a pro- itable showing. The Calumet X Hecla spent over s2O,OOOOOO in secur- ing a partial interest in Anmeek, Alouez, Centennial, Cliff. Gratior. Isle Royale, La Sale, Laurium, Osceola, Seneca, Superio1 Tamarack, White ! Pine and a complete interest in other properties, none of which is returning | anything to the company.
 And from the view point of the sub | sidiaries they have been successful be- yond expectations. Isle Royale, oper' ating under other names before the 1 Calumet X Hecla itself was discov cred. never paid a dividend in her whole history until it became Calu- met & Hecla subsidiary. Three now -up and down and out with a reeu- larity that make the stock market <, figure and little else, now is on pro titable produsing basis, good for at least 20 years at at least 1G.000,000 pounds a year. These are two bril- liant examples.
 "Osceola Consolidated last year ac- tually earned $29 d share and is far from going to the wall as anticipated a few years ago. The South Rear l 3arge-its richest mine-is of course nearing its end but the North Rear sarge and the old Osceola both have possibilities brighter now than ever before, both in the quality of rock and the possibility of handling lower grade rock.
 Ahmeek Is Best of AL ! 'Ahmeek has been the richest and i best purchase of all and Tamarack i the biggest disappointment. Ahmeek's production has practically doubled since it came under the Calumet X, Hecla domination.
 The results accomplished for the | shareholders of the subsidiaries are not quite as notable as those accom- nlished for the employees. There was l time when men working for the | Calumet X Hecla mine always got more pay for less work than they did anywhere in the Lake Superior dis l trict. It was the richest mine. The others were struggling. poor and couldn't pay if the management want cd to- Now the best wages paid any where in the world for mining are paid in the Loke Superior district ! When the Calumet 6 Hccla announces | q raise in wages it includes not only the working men who are employed at the rich Calumet X Hccla or the Ahmeek, but those who are working at the Superior and those at the Isle
 ioyale or the La Sale where there is no profit at all or where the margin is slim and the grade of rock very low
 Much Opposition to Play.
 When this policy ef expansion was at it's most critical point there were difficulties that for time made it's complete success look long ways into the future. When the Calumet & liecla proposed q consolidation of all subsidiaries with the main parent company there resulted long drawn out litigation from shareholders of subsidiaries who did not like the con. ditions and terms Ultimately the consolidation was dropped. Then came the Mover strike with its year of terror aud difficulties But rJ offset these unfavorsble difficulties came the unusual price for tue metal which con.