The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-03-19
The Pioneer.

lately about this stock that, no doubt,
the following extracts from the Boston
papers will be interesting TO them
so the Financial Editor Of the Tran
script The February report OF the work
done by the Pioneer NINE II most I'M
portant showing, and with your perulis-
SION, | should like to make a lew deduc-
| tions. La the first place the company
earned net of S12 600 against $4,000 IN
| January. The month was short one,
| and this increase of earnings was pro-
| duced by sixiy-one tons of ore less than
| in January. While tive more men were
| employed than in January, they must
| have been employed in Development
| work. The ore evidently is growing
richer, running up 10 Sl54l against
| $40 46 for January. The special econ
omy of the tunnel mine, TO which / have
referred, il illustrated in the marvellous
net results. Ii Pioneer we're "A shaft mine,
requiring all the ore To be hoisted and
the water tn be pumped by machinery,
the net result could not have been 50
great, for the gross was only SIT 600.
lam glad % learn that the compressor
plant will he in full operation within a
week or so, and not only can the cross
cut from the No. tuanel he pushed, but
the Wine from the No. 3 tunnel Nv hich
is practically the 500-foot level OF the
mine) also can be sunk more rapidly To
connect with the No. tunnel. Levels
will he run from this Wine at a distance
of each 100 feet, aud the ore will be taken
out of the NINE by the way Of the Wine
aud the No. tunnel. It will, therefore,
still be- most economical mining. The
compressor plant will greatly facilitate
o "A 4 -.
ground work, SO that by the time the
new 40-stamp mill is complete and in
operation there will be an iIamense body
Uf ore with which To supply the mill.
Il was particularly pleased To note the
promptne-s with which the directors
voted To begin work upon the iounda-
ton OF the new mill and 10 obtain est-
mates and bids Gur the complete equip
ment oil he mill. That means business,
and, In Tact, the management OF the
PlOUeer mine, SO Tar AZ L eau observe aud !
40 lar AZ l know, Is distinguished ior It's |
busiuess-iisc character. und the WAY he |
mibe responds on Its Eide must be very |
gratifying. The electric plant TO when |
referred IN my previous letter would not |
take long to install. The electric COM
panies are prepared tofurnish machinery, |
Tor such plant quickly, and all the ma
chinery, could be carried To the falls by |
railroad, Tor there is a railway station al |
lowles On the Central Pacific road.
"In conclusion, l want to emphasize
my belief that the ore in the Pioneer
mine, which increased in richness IN the
month of Februa Y TO Sl5 A, against
$40 46 Tor January, will still further ill.,
crease in richness. Ia the No. 3 tunnel
the tramway Is now resting upon body
OF ore, assaying in many places az hign
As $40 per ton, and this ID one OF the
bodies OF ore which undoubtedly extends
through tue entire proper v. Many peo-
pie do not know aud will not let those
who do know inform them correctly as
To the all-mportant feature OF the moth
er lode OF California, which il, that it
wideUs and grows richer with depth.
"On the Result Of the February work
done by the mine, Pioneer is now earning
~ 30 per share, and, when the new
stamp mill IL completed, this will be more
than trrbled, so that those who expect
to receive 50 per share ia dividends on
their Pioneer stock are not likely to be
A. for the daily fuctua-
tions oi the stock, they do not concern
me at all, but am exceedingly Interested
in the development Of the property and
the future which will come To il, provided
such development work il pushed ener-
getically aud rightly. ENGINEER."
-BOstOB Transcript