Show dividends of the th e great northwest SPECIAL correspondence spokane wash oct 24 by the end of 1916 mining companies both coal and metal operating in the northwestern territory will have distributed dividends amounting to for the year and will have disbursed during their existence this estimate is based on the presumption that those corporations now sharing profits with their stockholders will pay the regular established rate of monthly and quarterly disbursements for the two remaining months of the period and that those that have been practicing presenting their members with extra payments as christmas gifts will continue the custom this is an increase of over 1915 5 AW p J IA NOW V NI P X T 1 NO 14 INK 4 al J p snake river idaho near ballards landing providing that this estimate is correct and if it errs it is on the side of conservatism mining companies in the coeur calenes dA lenes and immediately adjoining territory in montana and in eastern british columbia will have apportioned among their stockholders during the year 1152 monthly and they will have created and caused to he be distributed in trade and investment channels not less than as the difference between gross income and net profits is expended for labor equipment and supplies this means that in the last twenty years the mining industry has brought into existence not less than of new wealth dug from the hills and mountains of the intermountain regions of the northwest the most of this gigantic sum has been distributed in the districts where it was se cured the major part of it going into the coffers of the tradesmen of the different supply points or back into development of nonproductive properties but a small part of it going out of the country in the shape of purchase payments of equipment and machinery that cannot be secured except in eastern manufacturing centers this is particularly true in recent months since there has been such a marked revival in mining because of the advance in metal prices and more and more are the profits of mining being diverted into local expenditures as nearly all the big machinery and supply houses are establishing depots to supply the needs of the adjacent territory in the last year it is estimated that but a small percentage of the earnings of the industry have gone east except the dividends that are payable to eastern stockholders and the money paid to the railway and smelting smelling sm elting companies for freight and treatment smelting smelling Sm elting enterprises even the latter items of operating costs are being gradually reduced by the establishment lish ment of smelting smelling sm elting enterprises in the mining centers such as the granby companas comp anys plants at anyon and grand forks B C the consolidated mining smelting smelling Sm elting company of canada at trail B C the north port smelting smelling Sm elting refining company at northport North port wash and the new smelter being constructed by the bunker blinker hill sullivan company at kellogg idaho the operation of these mammoth reduction works in the mining territory is resulting in keeping more of the wealth created by the companies circulating in the northwest than is generally supposed as the enlarging of their activities results in increased payrolls and the employment of more me men in allied industries such as the in western canada which supply practically all the fuel and coke required by the smelt ers the manufacturers of building material and machinery that provide ho for the workmen in the different camps and equipment for the mines mills and smelt ers and the railway corporations that provide transportation for the ore from the properties to the reduction works lime and coke to charge the furnaces and carry the finished product to the market centers I 1 besides creating a demand for more men inen in the banks mercantile establishments and other enterprises that profit both directly and indirectly f from rom mining activity and operates the hercules mine at burke idaho rated as he premier silver producer of the west this is a partnership and not a stock concern and its earnings can only be estimated but information from reliable sources places the not net profits at monthly or for the year and it is believed that this estimate is conservative as production during the period was greater than evor before and lead and silver prices higher than for any time since the property assumed a rank among important producers second place is held by the consolidated interstate callahan company which owns and is operating the interstate callahan and other groups of lead silver zine zinc properties comprising approximately claims in the nine mile district of the coeur calenes dA lenes this corporation which inaugurated dividends in april 1915 already has paid three ME R 14 NI v J I 1 a mammoth and standard mills wallace idaho of the wealth that is created by the mining industry in the immediate northwestern territory of the years earnings are credited to the coeur calenes dA lenes which also is entitled to credit for 61 of the grand total while british columbia contributes for the year and tu to the aggregate from its metal producing companies and and respectively is contributed by coal and coke companies operating in western canadian provinces of the 16 that was paid by the inactive metal companies including those that have been absorbed by other corporations or dissolved the greater portion was from concerns that operated in british columbia hercules in first place among the coeur dalene companies first place goes to the hercules which owns quarterly dividends of per share or and is certain to pay at least that much during the current quarter which will make the disbursements for the year or 6 the share on the issued capitalization of shares at 10 each making the total payments or 1150 the share recent official reports state that the interstate callahan company has not less than four years ore in reserve at the prevailing rate of production approximately tons of zinc concentrates and tons of lead concentrates monthly and it is officially stated also that the company can pay dividends of 10 per cent annually with spelter at five cents the pound hecla mining company the hecla mining company is credited with the third largest yearly payment 1 presuming that it will continue to pay 15 cents snare share lor the remainder of the period there is every reason to believe that it will as production has been in ill creased since it leased the union mill from the federal mining smelting smelling Sm elting company and a further increase is contemplated when the ton addition to its own mill at gem now under construction is completed this will bring the milling facilities up to tons daily provided the union plant which treats tons is maintained in service hecla paid at the rate of 10 cents the share monthly on its shares at 25 cents each in january february march april and may but in june the disbursements were increased to 15 cents the share at which level it is believed they will be maintained n so long as lead and silver prices remain at or near the prevailing quotations the bunker hill sullivan company holds fourth place in the tabulation for the year credited with an estimate that is based on the presumption that it will pay but thu the regular dividend of 25 cents the share in november and december extra dividends of 25 cents the share or were paid in march april may allay june july au august and september but none was declared in october leading to the belief although no official announcement was made that earnings in excess of dividend requirements for the next two months will be diverted to the surplus fund to finance operations at the new smelter until the enterprise is self sustaining there is a possibility however that further extra payments will be made during the year bunker hill sullivan takes first rank among coeur dalene companies for total disbursements caledonia pays caledonia ranks next to the bunker hill sullivan company it is accredited with for the year bear having paid 3 cents the share monthly to date except in january when but 2 cents the share was distributed tri buted and there is no doubt but the november and december payments will be equal to those of recent months search for the faulted is being continued on the keating tunnel level but so far without success according to recent announcement no by stanly A easton general manager of the bunker hill sullivan company who also is president of the caledonia company in which the bunker hill corporation is the controlling factor in 1917 it is believed that the caledonia company will be able to pay but 2 cents the share even though metal prices remain firm unless exploration in the keating tunnel results in locating the faulted ore in fact the management has officially announced that a reduction in the dividend rate is probable unless the lost vein is recovered there has been no increase in dividend payments by the federal company which has paid three quarterly disbursements of 1 the share or on the preferred stock the same amount probably will be disbursed during the current quarter but no extra declaration is anticipated the federal properties except the morning mine at JI mullan which now is the principal producer are said to be nearing exhaustion the iron mountain mine near superior mont purchased several months ago for slim oo 00 has been closed down and also the frisco mine near gem idaho also a recent acquisition the frisco mill has been sold to the tamarack ouster custer company for and as soon as a cleanup clean up can call be made at the mine it is said that it will be abandoned at least temporarily and there is reason to believe that the suspension of operations will be permanent success suspends dividends the success company suspended dividend payments in july when 3 cents the share was distributed similar payments were made in january february march april may and june and 2 cents the share special dividend was paid in april the success officials refuse to make any statement as to the financial standing of the company or the physical condition of the property and as a result not even a prediction of the resumption of dividends can be made safely the company now is involved in litigation with the alameda company over alleged trespass on alameda ground and the extraction of alameda ore and it also is in controversy with some of its stockholders who were refused access to the corporations books and records the stewart company paid no dividends to date in 1916 and it is not probable that any payments will be made the management has announced that the stewart mine practically is worked out and efforts now are being made to secure new properties there were two new dividend payers added to the list during the year the tamarack custer controlled by the day in interests te rests which owns and operates the consolidated soli dated tamarack chesapeake and the custer holdings in the nine mile district and the intermountain organized several months ago to take over the old amador mine near superior mont the tamarack custer made two payments aggregating but the company is not shipping now pending installation of an aerial tramway nearly three miles long connecting the workings with the recently purchased frisco mill and it is not probable that any declaration will be made during the remainder of the year the intermountain company paid its first dividends dividend a half cent the share on oil its issued capitalization of shares at 1 each on october another of equal amount has been declared for november and it is believed that a similar disbursement bur will be made in december according to an official of 0 the company the intermountain companas comp anys new mill of tons daily capacity now is operating producing an exceptionally good grade of concentrates cen and the product is under contract to the british columbia copper company for treatment in its smelter at greenwood B C for a freight and treatment charge that is said to assure satisfactory profits it is said that a several years reserve of ore lia has been blocked out and that soon the dividend rate will be increased to one cent the share monthly british columbia companies the granby company owning and operating properties in alaska and different parts of british columbia and smelters shelters sm elters at anyon and grand forks B C already has announced its fourth quarterly dividend for the year 2 the share or payable november 1st ast to stockholders of record october this gives it first place among the british columbia companies with disbursements bur of for the twelve months for the first two quarters the payments were the share but the rate was increased to 2 the share or 8 per c ent cent annually in august and it probably will be maintained indefinitely on this basis as earnings and production are greater now than at any period in the corporations history the consolidated mining smelting smelling Sm elting company of canada with mines in southern washington and eastern british columbia and an immense smelter and refineries at trail B C also has announced its full complement of dividends for the year the last having been paid october 1st ast no special disbursements by this concern are anticipated as surplus earnings are being devoted to financing construction and equipment of the trail plants which eventually will be the most important of the kind in canada as refineries sufficient to handle the entire copper gold lead silver and zinc output are being in installed kalled the standard at silverton the standard silver lead company practically an exclusive spokane c corporation owning and operating the standard mines and mill at silverton B C will pay its regular monthly dividend of 21 cents the share or each month in the year and there is probability of an extra payment of equal amount in december the companas comp anys earnings have been reduced in recent months because of zinc concentrate shipments having been held to the milli minimum mum tons monthly but an all effort is being made to dispose of the stored zinc product and the profits may be increased to the normal sum by such a sale the companas comp anys property is in better physical condition than ever before recent discoveries of high grade lead silver ore in the upper tunnels of the alpha claim having materially teri ally increased the reserves other companies the mother lode company operating in the sheep creek region near nelson B C paid its initial dividend in january but no declarations have been made since and no further payments are anticipated this year the rambler caribou company also a spokane corporation owning and operating the rambler caribou mine and mill at three forks B C has paid to date in 1916 but the officials will not say whether or not further payments will be made this year the le rol roi no 2 an english company which owns and is operating the le rol roi no 2 group at rossland B C has paid nothing this year and because of the european war it is probable that this corporations dividend record will be blank for 1916 western canada coal and coke companies have paid to date in 1916 but owing to labor troubles it is not believed that any further payments will be made during the period this is problematical however and they may yet contribute to the years total tabulation the following tabulation in which the dividend payments for november and december are estimated for those companies that have not yet announced declarations will not be far wrong and it if it is in error the totals are less than the actual disbursements will be at the end of the year coeur daifenes calenes DAI DA lenes enes company 1916 grand total bunker hill sullivan 0 caledonia federal preferred federal common hecla hercules estimated intermountain interstate callahan 9 85 stewart success tamarack custer total british columbia cons coils M S granby hedley le rol roi |