Show i It J I 11 I 1 1 I c ji i J MINES It J t c t Ii J IN TilE fHE I WORLD 1 1 r if 1 i Calumet Hecla Now Controls Control 1 j 1 Properties Covering One OneHundred LI LIt t i i Hundred Miles i V I 1 LEADS ALL COPPER OUTPUT I II 1 L I P j ft p WITH CAPACITY OF h 1 i j i POUNDS PER ANNUM tf It C Ci i I i L i of the worlds production o of copper or pounds annually 1 Is of ot Calumet I l I the estimated capacity D I i I la within the next few years under Its Iti i F h 1 t present policy polley of ot progress and expansion r I j I says the Boston Herald I 0 P I This policy polley was officially acknowledged acknowledge t 1 for the first time yesterday State street i i received Its first tangible Inkling of or II It ItI ItI I I 1 f In the transfer to the name nam nama nameh h I t 1 a Ii a week ago of at 2000 shares of ot Allouez mining stock I 1 if It was driven home forcibly yesterday i r y In the transfer to the same company ol of at atI fI I I i OOOO shares of ot Osceola together with a aA 1 A Y ii letter to the stockholders of ot that com corn company cornI comi i i i I pany seeking proxies to be voted at the ii 3 annual meeting in Boston on March 14 H Hi i and declaring that Calumet Hecla is isI I c g the tho largest stockholder stoc holder of ot the Osceola 1 1 f f l S Mining company f i 1 Centennial in the opinion of ot the street p 4 had Iad already dy been gathered Into the th Calu Calumet I j I i Ii met fold Colonel Thomas it L 1 Livermore S I t vice president of or the Calumet Hecla J 1 1 i confirmed this opinion when he said to toa tol toa I a Herald reporter l t j r r 9 j Colonel Statement Statements 1 t r I UIt It Is Js true truo that we have very ery much I i i more than a majority of oC the stock ol of atI I I r the Centennial Mining alining company It Is la IsI I also true that we have bave many more than I f the OOOO shares of t Osceola which were i S transferred today and more than the I 1 shares of oC Allouez transferred a an n 1 week ago agon n 1 9 1 Another official admitted that the thea a i r company had secured control of ot the J I properties It wanted and that It had a working agreement with the thc Centennial I 1 and Allouez companies but not with the 4 Osceola This means that there will b bno be beS S j no fight tight for tor the management of ot the Cen Centennial Ceni i tennial and the Allouez but that there theres i s will be for that of ot the Osceola 1 p The Calumet management is credited 1 with a particularly brilliant stroke in picking up proxies as it is believed to toi i have done on all the stock lying around 1 the lake territory before the I interests who j I j wanted the proxies woke up to the fact tact J 4 t that Calumet was in the field fielda t a Boston Center of Copper World 1 i t r This big deal and Its accompanying 11 s into the d 0 coups bring Boston once more I 1 limelight as the financial center of ot the iff p i copper world and Boston people who l J 1 l have been regarded as too conservative conservativeS S f for lor modern modem progress by the New York YorkI I 1 crowd as the tho real leaders in this enor enormous j k Industry J J For ten years the question of ot expansion i 1 I I y slon sion outside of oC the old Calumet Hecla I I mines proper has been urged upon the j management The life of the old mine 1 J at the present rate of ot production j pounds of or copper yearly yearl was es estimated esI I 4 i at about years ears It Iti 9 would never do it was argued to let If C ri i the company die for lack of ot expansion a i j The Tho management however moved with l f i the utmost caution All the tho mineral lodes 1 r I of ot known value slue pass through Calumet i I t f Hecla ground Before enlarging its ter territory t k i 11 4 it decided to explore the mineral minerai i 11 I section within Its own boundaries and i 4 j r J I for tor several years ears has been exploring the f Osceola and Kearsarge lodes which un underlie unI underlie I derlie and parallel the Calumet lode t Now the company is 15 ready to act and andi it has determined to bank its future for tor fortunes J i tunes on the Osceola and Kearsarge lodes I I not only within its own territory but t p i immediately to the north and south of eC I t it Its control of these properties at this J I time is to prevent them from falling tailing Into II j other hands J 1 i I It t C Controls Miles of Territory I t With the Osceloa the Allouez and the thet t t Centennial which have a combined acre acreage acreage 1 age of oC nearly the Calumet Hecla ecla 4 4 i has lias in the vicinity of acres of ot val valuable valI f I mineral minerai and timber land running r y i r J through the heart of or the lake copper copp r Jr region It extends along the lake shore r I for over miles and is from three to toI I nine miles In I width It it authoritatively stated that the theS S 1 company has openings enough on the v ai Kearsarge and Osceola lodes within Its f I own territory to produce e Instead c of ot pounds of copper annually i l if it it so 50 desired Various considerations ns however have caused the management I to hesitate before making any such enor enormous 1 i increase in its production 2 But now that the compan s policy polley of ot j expansion has been given to the public i ft asserted that plans for a gradual F i Increase in the production of ot copper copp r will at once be put in operation Osceola 1 4 Centennial and Allouez will be managed i J as independent companies by Calumet ti 2 f Hecla which will also furnish tie the t e funds i t to develop them to thel fullest extent in the tho Interest of ot the stockholders i 4 Each of ot the three properties named has hasin 4 j in capital stock of shares par val value valt p t p ue 25 5 but only shares of ot Centen Centennial g tc J nial and shares of oC Osceola have haveS S been issued 15 Today 1 selling price of oC Os 05 Osceola 1 ceola Is ISO per share that of Allouez is above bove 70 0 1 and of o Centennial 11 46 i Ii No Increase In Stock i J The TEe acquisition acq of oC the Centennial the I I Allouez and the Osceola gives s the Calu Calumet t met control of ot the rich Kearsarge lode J with the exception of ot mile pos possessed 1 L by the Wolverine and a few tew acres 1 by the fox for substantially ten tenI J miles s Within this area It Is believed by I S f mining men that there Is copper enough I r to produce many times the amount of I l I I dividends that have hae yet et come from the theold theold j old Calumet Hecla property proper to date data r The plans of the Calumet Hecla fi 1 4 management do not contemplate any In Increase Increase l crease In capitalization or stock of that r l company COmpan Calumet Is capitalized capitalised on onI W I 4 shares and at the present price of ot th fi 1 I copper the profit on this stock is ICO h t per per share sham or annually The Thet t I last three dividends have lave been at the i j 4 rate of ot SO SG a share annually and It is p t Ii 1 only within a few days das that the stock i j t I II has touched the unprecedented price of 1 J St a share t I i 4 l i Before It was amalgamated with Hec Hect t la Ill In May 1871 it Is 18 said that Calumet i stock sold at n 1 a n share An idea of ot Its ft bt I St i b I present value may pay be gained from the fact tact that a share of oC original Calumet purchased at Jl 1 exchanged for new Calumet Hecla receiving four shares more and being in existence to today today today day would have received In dividends and still have five shares valued at 1000 each a total capital of oC almost from an original investment of ot Jl I 1 Fabulously Rich Lodes Osceola is earning at the present time or 30 per pcr share annually on ona ona ona a production of or pounds of or cop copper copper copper per Allouez and Centennial are capa capable capable capable ble of producing within a year at the rate of ot to pounds each per pel annum It Is figured that the La Salle group roup lately latel acquired by Calumet Hecla Heels and managed as an independent company Just as it will manage the other three can be e made to produce within a few Cow years at least pounds of cop copper copper copper per per pr year When it is considered that the entire production of ot copper at Lake Superior at the present time Is pounds a year the enormity of or the thc Calumet Hecla holdings and the fabulous richness of oC the lodes which pass through Its prop property property property erty may be imagined The most important asset of ot the Cal Calumet Calumet Calumet Hecla Is Js the old Calumet con conglomerate cOnglomerate conglomerate so called which has returned In the years of ot its successful mineral minerai activity in profits to the company It is visibly no nearer worked out now than it was twenty years ears ago when mining men predicted that it would not last another twenty years |