The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1896-03-13

/ evenings. The average net ,,,..sans
October has been 900 per me 'e"'a"'
this is increasing, last moDth'svsqohe 10
about $4,000. The cost TO mhAe soci-
treat the rock is low, amounting ux,cs
s2 rs per ton. The mine practls u
| drains itself, and water 10 carried on c.
| Is used in the mill. IL 10 proposed TO IN,
crease the stamping facilities In the mlh
| o sixty stamps, which would cause the
| product of the mine TO be trebled. Inc
| company Ia earning dollar a share on
| outsranding stock, 40 that with increased
| stampipg facilities it would earn ~. IL
| il also proposed to declare dividend o!
| so cents Der share to begin with, ano
| that shortly, The cash surplus Oh the
| COMPANY IA over e4Q, GOO, end it would
take but $50, 600 to pay the propossa
| dividend, so that good surplus "ou'o
sun be retained ~
"7,o tbe Financial Editor of the Trans
ScriDt--I was very much interested IN the
descriptiye account Of the Pioneer mine
which appear red In your paper Tuesday
evening. have always been interested
ia mines and mining. and whenever
have been able TO do 80 / have sought TO
obtain information concerning properties
independent OF the management.
freud of mine, one OF the most expert en-
gineers In this country, whose opinion 10
always conservative and TO be depended
upon, recently went over the fioneer
mine, and he stated one or oiacts 10
me which he considered very Important
and which we're scarcely referred 70 ~ al
in your sketch, 90 thought you would
like to have them. He investigated the
OUTFLOW of rich rock to which you refer,
and which the company is now crosecut-
ting TO End below the surface. But while
he considered that the mine would % en-
riched BY finding such q body OF rock
below, he laid great stress upon the fact
that the ore bodies In the Pioneer mine
resembled In shape pear standing up,
growing larger with greater oepth; ne
went into the No. 8 tunnel, which 10 600
feet below the surface, and found that the
tramway was practically upon one SOLID
bed OF rich rock, showing great strength
and uniformity. This 20 his mind signi-
fed that the Pioneer 10 TO be deep mine
sure Of a long life aud that between the
500 level and the 1,00O-ioot level there
will be an immense body OF rock sufficient
70 employ q very large stamp mill, lie
ound even az far below the surface oil the
lili as 2, 900 feet, on the bank Of river
rear the property, well-defned veins OF
quarts, and without being In any way en-
husiastic, he did not consider that he
vas hazardous when he expressed the
opinion to me that be thought within
hree years the Pioneer mine easily can
work $50 stamps, where IL 10 only work
az twenty now. a...o. ~
''He also expressed the opinion that
he mine 10 operated with considerable
ystem and proper economy, but he
bought the number OF stamps ought
o be increased this year to sixty, and
very year, he thought, the number OF ,
lamps might be increased AZ develop .
rent work progresses. In all mining 1t
most important that development ,
york in connection with opening up ore Q
odies should be pushed vigorously, and
be Pioneer mine lie doing full percent =
&c Of this. A powerful compressor plant
as been paid for, and will be In opera C
on within month or two, and while
he product will not be increased by this Z
ntil the number OF stamps is increased.
,yelopment will proceed more rapidly,
nd the mine by September next will be r
shape to operate sixty stampe. b
ENGINEER" A.,