Tackabury's atlas of the State of Michigan : including statistics and descriptions of its topography, hydrography, climate, natural and civil history, railway and steam boat history, educational institutions, material resources, etc. / by Alexander Winchell, Oramel Hosford, and Ray Haddock ; drawn and compiled by H. F. Walling.

4

30

FOREST AND MINERAL WEALTH.

a thousand miles distant from any centre of
supplies or market for 'mine products, destitute of all the requirements for the development of mines; every tool, every part of
machinery, every mouthful of provisions had
to be hauled around the rapids, boated along
the shores for hundreds of miles to the copper region, and thence often carried on the
back of man or, beast to the place where
copper was supposed to exist. Every stroke
of the pick cost tenfold more than in populated districts; every disaster delayed the
operations for weeks and months. But the
opening of.the Sault Ste. Marie Ship Canal
gave a new impetus to mining operations and
tended largely to. develop the mineral resources of the Upper Peninsula.
The discovery of the rich deposits of the
world-renowned Calumet' and I-Jecla mine,
which are worked' in the' interest of a, consolidation, amazed copper miners and baffled
some of their theories., These, mines have
yielded colossal. fortunes to stockholders.
The want of adequate scientific and practical knowledge, on the part of many who'
early embarked in the business, led to- much
loss of capital and often to the embarrassment of those interested, and the abandonment of enterprises which, if they had been'
conducted -with the same care and judgment
that is ordinarily bestowed -upon other
'branches of business, would have proved
profitable and permanent investments. The
'fact of an inexhaustible quantity of this
valuable mineral, and of a quality which, in
richness is not surpassed in the world, led to
numerous scientific explorations of the terri-,
toryI and to the employment, of a large

upon these vast metallic deposits, which will
lead to still more important developments,
affecting very -materially the wealth and the
commerce of the country.
The ore now mined is of a very superior
quality, yielding fully 80 per cent. of ingot
copper. In many instances masses weighingz
hundreds of tons, of pure native copper, have
been taken out.- The copper is smelted at
Portage Lake, Detroit, Cleveland and Pittsburgh. There are now 28 mines in operation, employing about 7,000 men. The district embraces the counties of Houghton,
Keweenaw, Ontonagon and Isle Royale. In
quality the product is now universally con.
ceded to be the best in the world.. Prices
are at present having a low range -with, how.
ever, some promising symptoms of\ a rally.
The Hon. A. P. Swineford, at the closd of
his exhaustive and admirable "1Annual', Review)) for 1882, presents the following carefully prepared statistics: f

Net
Tons.

Pounds.

M~arket
Value.

Adventure............
Allouez................
Atlantic..............
Aztec.........
Calumet & Heela......
Central........
Cliff..........
Conglomerate.....
Copper Falls..........
Franklin........... *...
Grand Portage ***....:..
Hancock..............
Huron...............
Isle Royale............
M ass..................
Minnesota.............
Minong...............
Nonesuch.............
Osceola...............
Pewabic..............
Phoenix...............
Quincy.,/.............
Ridge.................
Shelden Columbian..
St. Clair..............
National................
Belt Mines............
Wolverine.............
Total............

1,315
11
16)027
676
33
367
293
1,632
378
270
182
14
333
5
10
2)088
741
280
2,832
51
43
8
2
32

429,)557
1,708
1)129
1)539
1,597
53
249
1)500
120
1)080
575
579
1)730
S86
672
1)380
454
782,
666
985
1)796
936.
1)300
1,126
1)560
1,720
1)457

78 97
~299284
4184-,797 44
576 04
5)901)056 52
249,197 20
12,160 35
123,60-6 47
108)158 75
600)924 49
139,378 42
99,519 85
67,119 09
5)473 29
122)626 43
1,964 71
3)936 05
8,552 18
76 *8,945 56
272,958 81
101,277 33
11-043,093 04
18)950 51
607 53
15,039 98
3)232 79
1)053 05
12,050163

until a change. of ownership is brought about.
Nýeve'rtheless, as a whole, -the net earnings of.iron mines have been very large, even during
the depression which followed in the "wake
of the great panic of 1873-how largewe
cannot definitely state, and would not if we
could, for the reason that we' would be.Charged in many quarters with meddling,
with private business affairs with which the
public have no concern. We venture the
opinion, however, that the percentage of
profit made by the copper companies, would
not be an exorbitant guIess at a basis upon
which to figure the net earningfs of the iron
mines. it would be r ather below than ab ove
the actual figure,
In closing, this review of the iron and copper inining industry of the Upper Peninsula,
we cannot. do better than quote the following
table, showing the dividends paid by the
mines of the several states and territories in
1882:

- I I

28)491

765

1$101466,328 321

The following table shows the product
(refined copper) of the Lake Superior copper mines for each year since 1854, together
with the approximate value:"

YEAR. Tons. Pounds. Value.
1854 and previous...... 6,992 1)727 $32146,400
1855........'. 2,904 1,334 1)586,160
1856.................. 4)108 1,1392 2)2181320
1857............... 4)765 830 2,3821500
1858.............. 47579 1,916 2)12912305
1859.................. 4)'463 1)995 2)239,591
1860.......... 6,034 375 2,654,960
1861....0 o.. 71519 - 837 3,4877995
1862......... 6,793 328 3)634)255
1863 o........ 6)492- 1,344 4)-415,600
1864................ (j)245 1)965 5,2870,300
1865.........I.. 7,179 583 57635,515
1866.................. 6,875 63 4)6291375
1867......... 8,763 1)607 47442,841
1868 a.e,00a 10)467.124- 4)9401424
1869.................. 13,312" 1,300 67230)016
1870................... 12,311 849 5)096)752
1871.........12,873 349.577281485.
1872.. 12,276 1,523 7)9791400
1873.................o. 15,045 1)505 8)7261100
1 '874..0................ 17,166 1)389 8,009,356
1875 o....o.... 18)019 1,497 8,180,626
1876.................. 19,135 997 7)9987430
1877 b 19)513 671 7,327,888
1878............ 20,845 1266 6,920,540
1879.......... 21)425 1)529 '72327)350
1880.................. 24,869 367 9,947,673
1881............. 27,274 1)708 9,9355,321
18228,491 765 10,466,328,
Total............. 356,820 135, $163)037,786
From the foregoing tables it will be seen
that there was an increase of 1,217 tons of
copper, as compared with the preceding year.
The values given are approximate, that of the
copper being figured. at the average price for
the year, which was 18.41 cents per pound.
On the amount of copper produced in
18.82 the several companies paid dividends
amounting to. two million, nine Aundxred
thousand dollars, the same mines having previously paid to -their shareholders an aggregate of $25,315,000, by much the larger half
of which has been paid during the last ten
years. The net earnings of the ironI mines
cannot be given, for the -reason that the companies are close, corporations, and not being
required by law to do so,, make no public
annonce ent-f0d ideds.Whil wekno

1882. Total to date.
Arizona....................... $1,962,500 $5,927,500
California.................... * 0 0 ' 1,1715,P408 14,617,407
Colorado.................00*'0000. 2)040)650 4,195,650
Dakota....................... 9057,500 3,172,500
Georgia.......................48,000 80,000
Jdaho:................. 47,000 47,000
MVichigatn.................. 2,900,000 2S)2151000
Missouri.................... 80)000 390,000
Montana..................... 309,115 746)615
Nevada...................... 733,262 11)3991599
New Mexico..................204,375 204,375
North Carolina............... 89000 8,000
Utah................ 29135)000 69633,000
$13,1401810 $75,636,646
The Mining Stock Regpister, a publication
devoted exclusively to gold and silver raining, gives a 'list, with the- ratings, of nearly
eight thousand gold and silver. mining companies now in existence, of which only 61,
were reported as paying dividends in 1882.,
whereas the entire list of iron and copper
mines on Lake Superior. last. year. numbered
just 102, the copper companies wdone contributing the dividends credited to Michigan
in the foregoing table.
To quote from M~r. Swineford: "With
the foregoing record before him, how can -the
capitalist hesitate' where and- how to invest
his surplus funds?. Iron- mining i~s a legi~timate business, not a doubtful speculation;
there have been no losses not directly traceable to bad management;t or a wretched lack
of ju dgment in the selection of 'property in
which to invest. No where, and in no other
business, is the man of means so certain of *a
handsome. return on the amount invested;
the stocks -of our principal mines are asnearly an absolute security as a government
bond, while yet returning to the holder tenfold as much annually in the way of interest.
Me hohvesundrd uded f hu

OF