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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
May 16, 1916
Page
13
East Butte Copper Company reports rising May showings at the East Butte rings and smelter with higher ore grades. May output and April copper production suggest strong earnings. cash and copper on hand near $800,000, payable accounts reduced, with projections toward $1,000,000 by June 1.
The quarterly earnings of the Butte and Superior company for the period ending March 31, 1916 show profits of 3.854040, equating to about 13.20 dollars per share and an annualized rate over 62 dollars per share. The five quarters show 1916 first quarter 1,163,166. second quarter 210,262. third quarter 2,761,839. fourth quarter 3,093,798. first quarter 1916 8,551,040. It is likely no increase over the extra dividend declared this quarter.
The Interstate-Callahan shaft nears 275 feet depth after April, rising 180 feet since March 23 at an average six feet per day. Three shifts work four men each with Tall Moose machines. at 600 feet the shaft will join the Amazon-Manhattan tunnel, improving ventilation and access to ore.
Records for loading ore at Utah Copper’s big property were broken May 1 with 39,000 tons loaded. The prior high was 37,724 tons on July 8 of last year. The operation used 16 steam shovels and mirrored earnings and production rates from the previous quarters.
A report notes annual earnings exceeding 28,000,000 dollars, roughly 17.50 dollars per share, alongside a soft wood used for match production. It mentions boxes found in the Dominican Republic and a factory established.
The market advanced with steels copper rails leading gains as bulls held sway despite some profit taking. Anaconda rose toward 86 amid strong copper outlook, while Butte & Superior jumped to 97 after opening around 92. Copper and zinc advanced with Utah Copper and Granby among bright spots, and analysts urged buying rails as a broader market rise continued.
Chicago May 18 Wheat prices fluctuated as rain offered slight crop relief while futures closed unsettled. July and September contracts showed varied moves with offsets in corn and oats amid war news. Cash bids quoted No 2 white and standard grades around 95 to 98.
Partial OCR reading shows a scattered set of bids and buying orders for mines and parcels. Names like Bannack, Butte, Hutte, North Butte, Independence, Highland, and Silver Cable recur, with quantities from 100 to 2,000 units and mentions of galleries, gold, and basins. The text is incomplete and lists many entitites without full context.
Investors question the sudden fall from 90 cents to a dollar a share in Thutte Great Falls stock. Directors deny any market manipulation and aim to raise capital to develop the mine. A stockholders meeting is planned May 24 to approve increasing the shares to fund development and equipment.
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