1874.] Copper Mines of Lake Superior. 179 
The same mines have been remunerative from their open- 
ings, and have yielded 11,810,000 dols. 
The paid-up capital on the same mines amounts to the 
trifling sum— 
Dollars. 
Calumet and Hecla . . . 800,000 
Omincy Or. Gt or 6 3 S2003000 
Pittsburgh and Boston . . 110,000 
Cenmale eos te MA Ge soooo 
Minnesota 9. 2" 1 | 3 <2. ge 6,000 
Beanklin 33 o < <i = 43g70,000 
PeWabic) so) oa oe) GWE as he 2355000 
Netonal sa *= he = 2 ETO;o000 
2,361,000 
Increase of dividend overassessments, 9,449,000 
There is, of course, another sideto the picture. Of r1I mining 
companies formed, only the eight above enumerated and the 
Copper Falls Company have paid dividends. Many of the 
companies were organised to work locations where there 
was no copper at all, and others failed through ignorance 
and bad management. ‘The total amount levied, as far as 
can be ascertained, has been 19,296,500 dols. 
All the copper produced in the Peninsula is smelted at 
Hancock on Portage Lake, or at Detroit, branches of the 
same establishment. Detroit takes the mass copper from 
the Keweenah and Ontonagon Districts, as the furnaces there 
are constructed to receiveit. Theroof of the reverberatories 
are lifted, and masses of 10 tons lowered on to the bed, 
when the roof is replaced, luted down, and the fires lighted. 
In the Hancock establishment only the barrel and stamp 
work of the Portage District is treated. 
The mineral from each mine is smelted apart, and the 
copper returned in ingots ; 1800 dols. per ton being charged 
for the first smelting, and 12°00 dols. for every ton of slag 
and coarse copper re-smelted. 
In the Hancock establishment there are seven rever- 
beratories and two cupola furnaces. 
The copper is smelted without any flux.in the reverbera- 
fories, in charges of 16 tons. Eight to ten hours are 
occupied in running down, two to three hours in poling, and 
three hours in ladling out. When pressed for time nine 
charges are smelted a week. 
The product is about 78 per cent of the copper as ingot, 
a rich slag which is returned to the reverberatory, and a 
