Quincy Mining Company
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Quincy Mining Company
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Quincy Mining Company
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Biographical History
The Quincy Mining Company was founded in 1846 to mine native copper deposits on property near Hancock, Michigan. During the course of the next one hundred and fifty years, the company produced 1.5 billion pounds of refined copper and issued $3 0 million in shareholder dividends. Its ability to consistently produce copper and stock dividends garnered it the nickname ₃Old Reliable₄ and spread its fame throughout the mining world. Before closing on May 6, 1967, the Quincy reclamation plant recovered nearly one hundred million pounds of refined copper during its twenty-two years of operation. The Quincy smelting works continued scrap and custom work until the end of 1970. Although the company held the belief that copper prices might allow a profitable return to underground mining, and carried out exploratory work from time to time in the 1970₂s and 1980₂s, the mine has never reopened. Quincy stock ceased to be publicly traded in 1981 and the company has not been required to publish annual reports since that time. Various parts of the company₂s Michigan property were sold or transferred to local entities (including the MTU Ventures Group and the Quincy Mine Hoist Association, a non-profit organization created to preserve and interpret Quincy₂s history and the No. 2 Nordberg mine hoist). The Quincy Mining Company continued as a property investment corporation with offices on Madison Avenue and property holdings in the New York city area.
Owners of extensive copper mines near Hancock, Mich.; operated between 1846 and 1945; founded with considerable investment from stockholders in Massachusetts and company was named after the town of Quincy, Mass.; operations closed but did not dissolve in 1931 but was reopened during World War II; permanently closed after the war.
The Quincy Mining Company was founded in 1846 to mine native copper deposits on property near Hancock, Michigan. During the course of the next one hundred and fifty years, the company produced 1.5 billion pounds of refined copper and issued $30 million in shareholder dividends. Its ability to consistently produce copper and stock dividends garnered it the nickname "Old Reliable" and spread its fame throughout the mining world. Although the company was one of a limited number of mining ventures in Michigan's Keweenaw copper district to generate substantial profits, its operations can be considered representative of many of the smaller, less successful companies that dotted the Copper Country between 1845 and 1970.
The Quincy Mining Company was founded in 1846 to mine native copper deposits on property near Hancock, Michigan. During the course of the next one hundred and fifty years, the company produced 1.5 billion pounds of refined copper and issued $30 million in shareholder dividends. Before closing on May 6, 1967, the Quincy reclamation plant recovered nearly one hundred million pounds of refined copper during its twenty-two years of operation. The Quincy smelting works continued scrap and custom work until the end of 1970. Although the company held the belief that copper prices might allow a profitable return to underground mining, and carried out exploratory work from time to time in the 1970s and 1980s, the mine has never reopened. Quincy stock ceased to be publicly traded in 1981 and the company has not been required to publish annual reports since that time. Various parts of the company's Michigan property were sold or transferred to local entities (including the MTU Ventures Group and the Quincy Mine Hoist Association, a non-profit organization created to preserve and interpret Quincy's history and the No. 2 Nordberg mine hoist). The Quincy Mining Company continued as a property investment corporation with offices on Madison Avenue and property holdings in the New York city area.
The Quincy Mining Company was founded in 1846 to mine native copper deposits on property near Hancock, Michigan. During the course of the next one hundred and fifty years, the company produced 1.5 billion pounds of refined copper and issued $30 million in shareholder dividends. Its ability to consistently produce copper and stock dividends garnered it the nickname "Old Reliable" and spread its fame throughout the mining world. Before closing on May 6, 1967, the Quincy reclamation plant recovered nearly one hundred million pounds of refined copper during its twenty-two years of operation. The Quincy smelting works continued scrap and custom work until the end of 1970. Although the company held the belief that copper prices might allow a profitable return to underground mining, and carried out exploratory work from time to time in the 1970s and 1980s, the mine has never reopened. Quincy stock ceased to be publicly traded in 1981 and the company has not been required to publish annual reports since that time. Various parts of the company₂s Michigan property were sold or transferred to local entities (including the MTU Ventures Group and the Quincy Mine Hoist Association, a non-profit organization created to preserve and interpret Quincy's history and the No. 2 Nordberg mine hoist). The Quincy Mining Company continued as a property investment corporation with offices on Madison Avenue and property holdings in the New York city area.
The Quincy Mining Company was founded in 1846 to mine native copper deposits on property near Hancock, Michigan. During the course of the next one hundred and fifty years, the company produced 1.5 billion pounds of refined copper and issued $30 million in shareholder dividends. Its ability to consistently produce copper and stock dividends garnered it the nickname "Old Reliable" and spread its fame throughout the mining world. Before closing on May 6, 1967, the Quincy reclamation plant recovered nearly one hundred million pounds of refined copper during its twenty-two years of operation. The Quincy smelting works continued scrap and custom work until the end of 1970. Although the company held the belief that copper prices might allow a profitable return to underground mining, and carried out exploratory work from time to time in the 1970s and 1980s, the mine has never reopened. Quincy stock ceased to be publicly traded in 1981 and the company has not been required to publish annual reports since that time. Various parts of the company's Michigan property were sold or transferred to local entities (including the MTU Ventures Group and the Quincy Mine Hoist Association, a non-profit organization created to preserve and interpret Quincy's history and the No. 2 Nordberg mine hoist). The Quincy Mining Company continued as a property investment corporation with offices on Madison Avenue and property holdings in the New York city area.
The Huron Copper Company commenced work on their property in 1855, under the superintendence of J. B. Bennett, who, for a year or two, was engaged in making explorations, but did but little mining. Operations were suspended several years later after disappointing returns, finally going into bankruptcy about 1870. In 1871, it was reorganized as the Houghton Mining Company; however, the investors were unable to make it profitable, and once again, work was suspended. In 1880, it was again reorganized as the Huron Mining Company. The mine was dewatered, new shafts were sunk, and underground work continued, eventually finding a vein of rich ore, finally making the mine profitable.
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External Related CPF
https://viaf.org/viaf/158317065
https://www.worldcat.org/identities/lccn-n83191131
https://id.loc.gov/authorities/n83191131
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Languages Used
Subjects
Company town architecture
Company towns
Copper miners
Copper mines and mining
Copper mines and mining
Copper mines and mining
Machinery
Mine buildings
Mine railroads
Mines and mineral resources
Mining corporations
Mining machinery
Nationalities
Activities
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Legal Statuses
Places
Houghton (Mich.)
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Hancock (Mich.)
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Michigan--Upper Peninsula
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Michigan--Keweenaw Peninsula
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Hancock (Mich.)
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Copper Country (Mich.)
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Michigan--Upper Peninsula
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Hancock (Mich.)
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Upper Peninsula (Mich.)
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Michigan--Hancock
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Michigan--Upper Peninsula
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Michigan--Upper Peninsula
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Michigan--Hancock
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Keweenaw Peninsula (Mich.)
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Hancock (Mich.)
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Hancock (Mich.)
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Michigan
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Convention Declarations
<conventionDeclaration><citation>VIAF</citation></conventionDeclaration>