The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1918-05-30
NETPROF|T IN 1877 IS
A NEW HIGH RECORD
Prosperous Year for
Coeur d'Alene
Mines
BIG INCREASE OVER 1916
Shortage of Labor May Force
Reduction of Output
This Year
BIG INCREASE OVER 1916

~OMPLETE net profit returns
have now been filed with the
~ county assessor by the mining
companies of the Occur d'Alene
district for the year ending December
81. 1917 They will be found in de-
tail in the subjoined table, together
with the figures for 1915 and 1916 for
the purpose Of comparison. The total
net profits for the year is somewhat
surprising, as it was generally expect
ed that it would fall a little short Of
the record of 1916, which was the
highest in the history Of the district.
However, a comparison of the figures
of the two years show that 1917 ex-
ceeded 1915 by $61O,492, the net pro-
fits for 1917 being $l2.765,1l3 as against
s12, ,154,79S in 1916. 1t is probable that
the earnings for the past year may
still be increased by a few thousand
dollars, as there are several irregular
shippers and leasing companies which
have not reported.
Hercules Leads.
Hercules maintains safe lead In
net earnings, with the Bunker Hill &
Sullivan q good second. Under bet
terments and repairs the Bunker Hill
reports $1,O56,61S most Of which no
doubt went into the cost of construc-
ton of the smelter which began OPP
Grafton about the middle of the year.
This added to the net profit makes
total earnings of $3,5O3,90 The Her
cules reports under the same heading
$685., 5OO bringing its total earnings up
to s3,975, 900, almost four million.
Heca reports large expenditure
for betterments, which added to the
net profit brings its earnings up to
I$2.157225 Some items in this expen-
diture are the new dry and change
buildings, new ore bins and sorting
plant.
Production at the Morning was
greatly curtailed during the year by
litigation with the Star, and almost
the entire month of December was
lost through an enforced suspension In
order to repair the shaft. In spite OF
these drawbacks the company reports
net profit of $1,319,962 and better
ments $16S,247 making total earnings
nearly million and half.
The Interstate Callahan suffered
through a decline in the price Of zinc
as compared with the prevailing price
in 1916, spent $1SS,699 for betterments,
but closed the year with a net profit
of $1,234,O63
Outlook for 1918.
It is not likely that any new re-
cords will be made during the present
year. With five months of the year
gone, the price of lead has not aver
aged quite cents and spelter but lit
tie above These prices are entirely
too low considering the high cost OF
production. The lead producers will
receive a decided advantage in the
high price Of silver, which may be
depended upon for some years to come.
However, this will probably be offset
by reduced production due to the
shortage of labor This Is the most
serious problem now confronting OPP
orators. 1t is estimated that the
shortage now amounts to from 1000 to
1900 men, and no relief can be reas-
onably expected while The war lasts.
The shortage is due to the call for
men for military service, and also to
the fact that high wages in the ship
yards on the coast have attracted
many men.