Newspaper Page Text
L TUESDAY, DECEMBER 12, 1911.
THE CALUMET NEWS PAGE FIVE re Condition of The First National Bank OF CALUMET DECEMBER 5th., 1911 i T ASSETS Cnsh and exchange IjOIiiih and Ponds aitklug llniisu . . . , 'iv per rent Fund Over-drafts i LIABILITIES Capital Stock paid In Surplus Undivided Profile T T f IX'poslts Circulation MINING RESUME Of THE 1911 OPERATIONS CLOSING YEAR HAS BEEN TRY ING ONE FOR MANY OF THE COPPER PRO DUCERS. Resume of Operation. As the .ear draws to a close. It is of Interest to look back and review the operations of the individual cop- ier mining companies, l'.MI has been I trying year for many of the produo rs. particularly for the older vein nines, which have not been able to mot declining price for the metal villi larger production and reduced osts. Cor the fourth successive year, cop per has averaged lower than in the tt . editor ear. As cost.-- at most of ie properties had already been re nted to a minimum, there was noth- "H left to be done but to reduce the lividend rate. Right companies found themselves ddigctl to do this: Calumet - H.-oa duced its payment from $.! to $Jt; Cupper Range from a $4 to a $U rate; i.inhy paid nothing, as against 1.00 a 1919; Mohawk from a. $2.oo to a Sl.r.n ate; nsceola from a $10. no to a $7.00 ate; Phelps-1 )odge At Company from ktM to $1000; Quiney from a 19.99 to a 14.91 rale and Wolverine from a M9.99 to a $s.oo rate. Ofl the other hand. DM company ii iilc ii HMtnUNI as a dividend iaer Ahmeek, with an initial decla ration of Jj99 and old Dominion In i.asid its rate fim 1,M to $2.(M). The so-caiiici porphyry oopperi MMd up splendidly under the veer's e.Veio test. The two dividend payer. n this group. Clah Copper and Neva 'I." 'onsolidated, had no diiliculty in nutting their regular requirement by iir.i r production or lower cost. Three ropirlies in this grmip entered the '.inks of producers flllfllMJ the year Raj Consolidated, Miami and Chlno, ind in each case t lit- operating results dale have been fully Up to expecta tions. We present herewith In tabular (Vim, tlie result of the year's opera -ileas; most of the companies have idoptcd the practice of reporting their Utput by months, ho that it is possible o estimate closely their llnal figures, lit of course. In the case of those ompnnies that do not do this, the es imat, may be found to vary consider ibly from the a tual results. AV meek Allouez Mi ..conda Itritlsh i'olumhiii . . . t'aluniet Xr Arizona . ":iiimt t Ar Hecla . . . Chlno ' ' ppt r Range Cast Rutte ii t enc- "onaaei WO Royale Miami Mohawk i Nevada OonaoHdated Noith Rutte Old Dominion ...... H eoia . I helps. Dodge & Co. QoladV i: i v Cooooledated . . . Shannon Superior Copper Tnmnrnck Tcnm-ssee I l ill ( 'onsolidated I'tah Copper otvetine -insinuated capacity al ( ppper). It Is rather interesting to note thai the combined dividends of the two porphyry producers, Nevada Consoli dated and Ctah Copper, whose com blned output was lf.7, 000.000 lbs., were Inner than those of all the dividend paying Lake Superior companies, whose aggregate output was IKH.nOO. 999 lbs., nnd only $600,000 less than those of the Anaconda companies with en aggregate production of LTifi.OOO,- D99 lbs. Individual Companies. Taking up Individual companies: A.hliieek made easily Ihe greatest Strides of any of Ihe like companies. Cooil prom-ess wa- made In sinking the NiiMii aaaaa 10.000.00 2,&9.41 $3,43,sao.co 200.000.00 300,000.00 t.eju.o't 2.807.951. 11 191.999.99 $3,438,830.60 two new shafts, th as yet any considi to production. The Including items of unh these are not able contributors cost for the year, every description, would we shotdd Judge not be over 9i cents a pound. The company clos ed the year with an earning capa lt In the vlelnlty of $12.00 a share very definitely in sight. Allotte.'s output will probably not show very much gain over that of the previous year, but ther should have been some improvement in the matter of cost offsetting the lower metal mar ket. It was repotted at different times during the year that the company's openings were in promising ground. Calumet & Arizona, having com bined with the Superior and Pittsburn, the two properties were operated as one, and from the maintenai.ee of the dividend rale, on the heavily Im n as. .1 capitalization, the consolidation must have been attended by very suIk-huii-tial economies. The output for the year wan quite a little under th it Of 1910. Calumet - He. la is one of the few LnjM companies that will probably re port a gain in production, but It Is doubtful if this Will be stlfliclent to offset the lower price for the metal. The publication of a report on tho Lake Superior properties by Mr. .1. It. Pin lay fully corroborated the rcspev tive values placed on the Calumet Us Hevla and Its subsidiary properties by the management in Its effort to Q09 solidate them. This report called par ticular attention to the comparatively short life assart 1 many- of the proper tics, ami this was attended in the fall of the year by disastrous dt ( lines in mam of the shares, though upon tho abandonment of Die consolidation plan a gootl deal of this loss was recov ered. Centennial. The work at thia prop erty was attended, as usual, with var lng reports as to the character ! found disclosed, but we MO inclined to think that the report will not show any matoCal change from the rather mediocre results of previous years. Copper rumge. The two mainstays of this companv, Pnltlo ami Champion, showed quite a material decrease in output; Ti Imountalii, on the other hand, which ha been very much of a laggard, showed a distinct improve ment, a cause for much eiicoiiraxc ment. Tills, however, is a consider ably higher cost producer than the other kWO companies, so that the cost of Copper itaiiKe's total production was pffofaPOly KMMWImM above that of last year, This, and the lower price of copper, made it advisable to reduce the dividend rat.- from $4.00 to $2.00. Hancock completed a fi'i; months' mill tOOt showing a copper recovery of about IS', pounds per ton. With the completion of tills test in Novem ber, production was discontinued. The sinking of the new shaft was steadily prosecuted and on November 1st this was down 3njr feet, with an estimated Kst. Earn'gs saMagMrtad Framings per ProdOCtkM Production per share share 1911 1910 1911 1910 19999,999 ll.K44.9ri4 19.99 $4.'iS 4,kooooo t,999,T99 ."n .71 2r..,ooo.ooo l'i;i;.i;os,4;i 1.80 1.40 10,000,000 7,411,999' .fio .'.'6 99,99999 r.4,i:i.r.9fi 4.00 6.76 79,999,999 79,999,919 99.99 99J9 f)0,OO0,00O 3.00 .... a 1.000,000 32.sr.6,692 949 3.3s 12,000 000 11,417,904 .60 .60 19,999999 4r.,6so,i4.r .40 .is 7.200 000 7,r.67.39 .70 .60 3S.O0O00O l.TI .... 11.K00.000 11,412.066 2.00 1 ss 99.999,999 62.772..H2 1.75 L79 2.1.000.000 2".,267."K2 1.60 1.60 25.000.000 27.742.332 2.76 1.00 IS, 200, 000 19.346,566 6.1-r. 7!0 132,1100.0011 13K..S06.652 10.00 11.14 99,999,999 22. .".17,014 4.50 6.80 1 -so, 999; 000 2.25 .... 14.50O.fMMt 17,026,000 .60 .60 3.200.010 3,181.041 7.500.04)0 11.063.606 1 .', M111. 000 12,429.119 2.00 2.22 8.000,000 7.489.471 .50 .20 95. (Mid. 000 85,644.51 1 3.80 3.44 9.700,000 9,757,101 8.00 9.50 irnliiKswhen operating to capacity (12VjC. distance of 600 feet to go to Intercept the main Pewablc Pule, About Decern her 1st. however, this shaft Intercepted an unexpected amygdaloid lod, which, where cut, appeared to be very rich. Isle Roy ale's production will prob ably be somewhat under that of 1999 though this should be more than off set by a still further rttlm tlon In costs. In the Inter months of the year, rumors were persistent of a decided improvement underground ami it was surmised that Ihe property would b put In shape to supply a much larger tonnage. Haytlen, Stone At "o. Copper Range Consolidated protluc- tlon fur l'Jll hutt been estimated at 31.J00.KOO pounds, and earnings at $1. ll.Mi .1111 thus Inili. atin- a l i t profit pci pound, uftcr t rcditiug tin- company's ! railroad ratlin. al about 3.4 cnix. The output from both Champion and illattlc shows a falling oil', compand with 1JM19 and 110. while TrtlWWtl In came forward with a .-substantial in crease and a corresponding tlccrea-c In i'ijh h i- pound. AiImisc conditions in tli.- cojHjcr indusirv wir- also i flu ted in the rompa ny s railload earn Inns, Which (ell below the normal, the whole causing such a loss In t irnlngs as to briiiK about a r. duction In the iuarterl dividend rate Horn 75 oeatl lo ,r,0 MM -. Copper Hiine Consolidated should benefit very materially BOX! year l'r the marked improvement at Tl lllHHMI tain, the lower openings of which are said to compare favorably with those of Baltic ami Champion. The lonx delnyed proportionate turnings from Trlinountaln seem to be a: hand, and this, with the practical assuming of higher prices for the metal and in ONUtd railroad revenues lend to tin opinion that Copper Itango Consoli dated will present a much moie satis- iactoiy financial exhibit a yetr hem e. 'WW.' HENRY CLEW'S VIEWS ON CONDITIONS OF BUSINESS. BeekS business conditions are sound and rtasonably satisfactory and the tendency Is toward ultimate improve ment, says Henry Clews. The volume of trftde, though somewhat less than a year hko, ha- not shown the con tiactlon that was expected, and dOOM not support the recent complaints of reaction. Conditions arc not as bail as represented by those who have b, en disturbed or disgruntled by one cause or another. The year just closing has been one of decided ipiiiet. We have been taking the rest cure with beni lit Put there ha - been no retrogression of COMOQUenoe, only general readjust ment which will place the country in a much better position for a fresh for ward movement than was the case a roar ago. The annual report of the Pcpartinent of Am it ultui e show s that out crops this year were valued at about 99,499,999,999, or only nbout .1 per cent In low last year. All the im portant crops were slightly smaller In quantity except cotton, but the values realised in nearly every case awn higher, so that the agricultural classes enjoy t'tl liberal but not n cord-bi t ik - hnj prospeiity. There is a ehrtnlonp in the value of cotton of about $100. iioo, 000, but aVOfl at cunt nt low prlceB the crop will yield a return to the planters much above the average. fO that the South should experience food year in BpetO Of the low pri.es. Thole was also a .shrinkage in the val ue of ektntmals ami animal products of 1929,909,999 There is continued ac tivity in the Iron trade which, as .-tat-t d some weeks ago in these advices, has taraed oaraar far bee bettor. The demand has been so insistent for ralhrond equlpeoaeal thai Rimer prices are already in sight. Much larger sabs of pig iron are reported. ooooooooooooooo O o O 0 ' ADVERTISE IN THE NEWS, . OOOOOOOnoOOOOOOOOOO PROWN Wtheatef 1 MONDAY UNTIL WEDNESDAY the Presenting an DOphOOlc array of BOVeltJI instruments featuring a ham! painted setting. COMING THURSDAY. Dornen and Strong The Minstrel GrBdUetM Some pun. FEATURE PICTURES AS USUAL ADMISSION 10c. Matinee 2:30. You Will Always The Best Goods Advertised in 1 lie peat national matrazincs. That's why wc arc known Moot Satisfactory Store in Town Whenever you sec an interesting advert isemont in a maga zine, particularly if you see it in Good Housekeeping Magazine, call ns Op on the phone tot full information. Wc are "always "right up front" in the best and newest goods in our line at right prices. We gpl the most popular patterns and pieces In 1st; Hocers Pros, and Ut.rham Silverware. I.ibbey Cul Ulnss. W. W. W. C.uaran lettl Set King;. Hlmmoii: Kobs. ItrigKS Uracelets. Kb . Etc ENGRAVING FREE. Warren Jewelery Store THE QUALITY STORE SACCHARINE IN POP FORBIDDEN MANUFACTURERS MUST NOT USE SUBSTITUTE FOR SUGAR 8AYS STATE FOOD DE PARTMENT. Ianslng. Afich., I i Hundreds Of gallons of soft tb inks have been emptl'tl into the .wei- recently hroiighout the Btate by Inspectors of the stale dairy and : ml commission. The Inspectors hav. discovered that saccharine, a powerful and forbidden substitute for Ugur, lias been used extensively fn swetiening non-intoxl-catlng beverages Under in 'traction tote commissioner been at work all ov The sale of any froa Ci. M. name, inspectors have r Michigan, think or food In which saccharine is used has been DsmOi and further forbidden by Mr. investigation cations, will anil If necessary proOQ be used to enforce tin la w. The use of the substitute wa I brought about by tin high cost of su gar, it is said. S o eherlde is the sweetest substnnce known, and is a by-product of coal tur. It is from 999 to IWO sweeter than sugar. Hereafter the laapectora win da the tooting whre pop l told nnd not at the plants where It is made. The Inspectors say that sacccharlne haa been proclaimed poisonous by the lend In I nations of Puiope. as well as the United states Koverptnent. and that it causes muscular weaknes , headache, djrdpepolo, loeh of appetite and nausea. School chUdrea who have been buying the soft drinks at stores near schools have become effected by the saccharine poison. It is charged. The department believe that thl ruoa i against adulterated aafl drtekl will have a most Important of fOOl Ml the health o( tb minunity. YALE'S STRONG MAN. Kistler's Record Withstands Nev Test by Comparison. New Haven. IVo. 1 J. The troagtb ttsts Just completed by Dr. Horn nt the Yale (ymnaoinwi of the freshman classes show that the record of Krle ( . Klftler of Deny!, who was foot ball fullback, stanits Intact. The record held TV KlOfler l 9970 and that of Jthn Kllpatibk, who wa: a 'varsity end. was 9919.9. At the time Ir. 9km gave out Kist ler's Rgures he said the record stood for tests made during five years, whl h was the period in which the present system had been used. Two other strong men of Yale were ("has Chail wick and f'has. Carver, but their tOfttO were made under a svslcni not BOW In use nnd one which would give little chances for comparison. KJatter, who was coach of the frch man football It am this fall. " con- v leaning from typNald fever al Ihe inlirmary. It pays to advertise. J. B. Rastello Makes Excellent Clothes Cor. 5tii and Portland Find in Our Store MICHIGAN f ARMS WORTH A BILLION Continued fiom I'aae One. Sent over SO per etnt of the value to all live stock, while swim- repreeoaju 7.1 per cent; slut p. 7 per cent; and! poultry, 4.1 per cent. The value of poultry in tin- state Is considerably1 over half as grtnX as that of either! w int sheep. Forage Most Valuable Crop. The leading crops of the state in the ardor of their laapartai as judg ed by value are hay and foruge $3K,- 949,999; corn, 999,991,999; oats, 919.999, 999j wheat, 919J997,999; potatoes, 9, H14.000; dry ei'lble beans, $9,716,000; pnd rye, $S,945,000. Hay nnd forage Is the leading crop of the state in acreage as well as in value its acreage being over 70 per rent greater, and Its value over L'0 per cent greater than thnt of corn, which is the crop in xt In rank. Corn represent-' about DB0-tht?J of the total acreage of all cereals and over two-fifths of the total value. Aa i 'impure. 1 with corn, the wheat crop has about half as great an acreage, but more than half as great as that of wheat, but in value it is less than a fourth as great. Aside from the . ereals anil hay nnd forage, the two most important crops are beans and potatoes These two crops have nearly the same value, al though the acreage of potatoes is smaller than that of beans. Approximately one-half of the Im t roved land is occupied by corn. The largest relative gains in acreage were made in beans, rv t ami barley, though the absolute gains were much larger ir. the acreage of oats and hay and furag. POLITICS AND POLITICIANS. . St-rctor Wetaaore of Rhode I lead ami Senator Ousgcheim of C olorndo have aunoun -ed thur intentions to re tire at the end of their present terms. The first presidential primary elec- YOUR DRUGGIST SfLLS IT Bosch's Malt Tonic Noiuishi s The Coaveteacedd BuHea Dp The System Mai 1:1 1 nnd Tleeuo Purely a Medicinal Ptenaretiei Insist on lios' h's. Physicians recommend it. BOSCH TONIC DEPARTMENT LAKE LINDtN. MICHIGAN A. F. MENZEL INSURANCE. Everyone should carry some insur ance. LJfe Insurant e is a safe guard that men should have. Clet In a good company when you insure. A, gat 9-1 Quello Huilding. F. Men- A. FAHLEN JEWELER. Dealers in high class wa'ches. "locks, silverware, fine cb'ia. cut pot tery nnd Mat a brae. We ran supply your every demand. We make glasses thaf are guaranteed to fit your eyes. Two barbers rt the shop with the 4 magic words -WE CAN DO A YTHING Art Myers, Prop. BRACCO THE BAKER. The best people In Calumet use our bread because it is the best they can buy. All our bakery goods are bikd fresh every day. Try our Italian graadi CLOTHES FCR MEN. Our new spring ana summer line, the latest novelties .' Imported and domes tic fabrics await your early consider ation. Goods bought from us glv sat isfaction, p.t hor St Stork, oak "th. FASHIONABLE TAILOR. Tbp wise man is always well ,!ress4l because he gets the best selection by ordering early In tbe season. Spring styles now In. Pressing and repair ing. Matt Chop. Phone 63J. F. H. SCHUMAKER MEATS. We nrry an Immense line of fresh tin sts. tlsh. panic and oysters with which to please our customers. Spe cial attention nnd prompt delivery glv en to all phone orders. Phono 46. McCLURE'S GARAGE. Most up-to-date garage !n the Cop per Country. Finest clats of repairing and machine wt-rk of all description, Aleuts for the "vorld famous Mitchell Motor Csis N. Seventh St. Phona St WEDDING INVITATIONS r-Ai 1 ING CARDS ANNOUNCEMENTS PRINTED OR ENGRAVED ATI-HE CALUssCT NEWd. RED JACKET BUSINESS DIRECTORY! A man's drink a food and a beverage in one. The strength fpviog.ttimte Itting drink idal from Old Holland. While it serves the same purpose, it is healthier than either tea or coffee cheaper and far more de ti lis in the 1'nit.il Stales will lie h hi in North Da la) f t :i March m xt. The Iitus flub, a noii-partian po litical organization of New York city, is to have Governor l:irnion of Ohio a its guest of honor next month. N'l-Vl Ve.-ir in tho I .reu ill. .11 1 in 1 snn- , dominant oarties. flepablloan and Democratic, thoic I will be in aoCh from 1,9M to 1,070 d. K -i gohea. Hen P. Caldw. II. I know n as a BMOahOf made annoiii: 1 meat ' :..r the Democratic fcrrr.cr!:- well ol Congress, has of his candidacy m mlnatton for 1 governor of Illinois. i The Ma .-.- Ii 11 setts SociaMrts just uoeeeded la getting at the Kovembec election the three per eeat that aatta ties then to be oaflad a party gad to l have a place on the official ballot. Presidential pleleler.ee will be m I1R ' the matters subioi: ;-tl to the rotegi ti iTennetsee at the slate primal lea to B4 jconductid by the Iialept miciit" assggs bps ra 1 Is party r.i :;t Apr d. LUm aaaawraga cthar nap or he havi 'attained proiiiitu aog la pohHc Uff ; Joseph A. Tag-art, the new DepHH jcratie congri'rHii.au In a. Lhc Sv oml .THE QLSOil ESTATE FURKITtJREDriDERTAfvTHG SCOTT ST. CALUHET MICH. TELEPHONE INSURANCE. Fire, accident and plate glass insur- ince. Real Estate and loans. We re- epectively solicit your business. See us before purchasing real estate. W. L Stannard, Agent, John D. Leary, Mgr SPECIAL MENS WINTER CAPJ 75c to $1.50 HOCKING & CO. CALUMET GRANITE WORKS. Manufacturers of all kinds of granite and mnrble monuments. Cemetery work if any aeeertpttot! made to order. Agents for the famou Wisconsin Cranites. .".th and imk 9tO( Calumet. All trimmed hats for Ijidies and I'hildren going nt reduced prices. Call ami look them over. GOWAN MILLINERY CO., Seventh A Oah Sts. Calumet. Mi. hie in. HOTEL MICHIGAN. FirsVclnes Bhiropean Tiotel rtuffet connection. In business section of Had Jacket. Cor. th and dak Sts. M. j Mantlet tlnl. Prop. LIVERY AND UNDERTAKING. Most up-to-date funeral directors in Calumet. Furnishing for all fun erals. The best livery outfits with careful reliable drivers. Licensed m i.almers. Shea Mros. Phone 30. Hot Roast Beef Sandwiches Sauerkraut d Means Plgsfeet and Soups. Ths Majestic Mike Crowley, Proprietor. LAKESIDE FLORAL CO. Copper Country's latvst and most modern greenhouses. All Tsrietles of flowers, plants, shrubs end vines Beautiful floral decorations for parties, dinners, entertainments and funerals. McCLjRE AND RILEY. I'x-ierts on nil kind of electrical ork. l.lghtin svst.ms idiiinen hi stalled and wtr'n done Agents for thr famous KeJI Santo vacum cleaner. Tun,sten llgte In your sture or horn lightful. You'll crave V an Houten's if you once ;et the tempting flavor ot a properly made cup. It is twice as strong as the ordinary kind and has a delicious Hfi vor all its own. At your grocer's-todav for a quarter district, hi g :n his career as a school teacher. A t irf iimstar.ee unknow n to the av CVBge voter of today is that Pennnyi vaaed ' as atinal as reliably Daaao ratic pievious to 160 as It has teen rohuatl) DOpuhHeaa ever since that ye'.r. As a result of the electb ns htdd last November the commission I'm in of t'overninent ha 1 inert used 19 pot cent in the I nitttl States-. aUaaoured by the population of the cities adopting it. United State;- Senator Heorge P. W'etmoit of Rhode Isbintl. who is to n tire cext year on account of failing hggftth; has been a member of the sen iti .- rice 1894. with the exception of no year 1907 when hi.; seat was v'acariL because of a deadhK'k in the legislature. Detedrore mxt root w ill elect a com 1 let set of si tte oilb ers and a leg i kitnie which will elect the successor of T'nltetl States St nntor Harry A. RiChartlapB, whose teim will expire in 1 ! 1 3 and who has ulready announced that he will not be a candidate for re- I eel ion. NORTH 41. Meet me at Paul's Confectionery . store for a dish of delicious Ice Cream, Fresh California Fruits nnd a fine line f Candles at low prices. MIKE PAUL, North 5th Str. WINTER IS HERE. To keep off the colds and chills, get your Whiskey at BEN BLUM'S. FALL SHOWING OF SUITINGS AND OVERCOATING J. B. RASTELLO, Ths Tailor, Orenstein Bldg.. 5th St. RYAN LIVERY A UNDERTAKING. Moot lip - to -ttn-ni Parte eervtce itn the Copper Country. We are well sup plied with horses and vehicles and have conp-tent drivers. All kinds ot funeral supplies. Phone 25 WARREN JEWELRY CO. 321 5th 8t. Gorman and 1847 Rogers Silverware, tlgey Cl 1 Olast. W. W. W. gusrantee9 rings. Mull umbrellss. Waterman Pens. PATRONIZE HOME BAKERY. See that you get bread that is made in your home town. It is always fresh er. We bake every day. phone us your next order. VIENNA BAKERY, Phone 511. VIC HERMAN. Expert Photographer. Fifth at. Ktne tit Thre never wns a time when the Cft c market ran higher than at pree r,: 1 ior main object is to give our outruns satisfaction In both price and . mialily. Call nnd look over our goods jand be convinced, J rand Union Tee Op, G. Martini d Co. ! Phone . Calumet. Mich.