The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-03-10
IN THE COPPERS

The annual report of the Atlantic
Mining Company for 1898 says: The re-
suits Of the years business have been
disappointing, the yield of the rock hay-
ing been the lowest on record, only II 8
pounds Of copper per ton of rock
stamped. Bottom seems to have been
reached in 1898. It seems reasonable
TO expect that the next change will be
TOT an increase in the yield
The crOsscut in search Of the Baltic
lode on our section Is reached our boun-
dairy line and was then continued by
the Baltic Company and as yet with
out success. If found, this lode must
underlle the entire section 16. The
formation has either been "fauIted'' or
made a sharp bend between the Baltic
mine and this section.
Inc annual meeting Of the Oseola
Mining Company was held yesterday
morning The only change was the
election Of Edward s. Grew, to succeed
Gustav Stellwag. who has moved to
New York. President BigeIow stated:
II the present price of copper holds
throughout the year, the company's
dividends should be increased. We
expect to pay IS a share, but should
earn considerably in excess Of this
amount, IS something should be added
10 surplus every year, We expect that
the addition to our mill will be com
pieted and in running order in july. I
think the consolidation of this com
pany with the Kearsarga and the Tam
aracH Junior and indirectly the Irc-
quois, most advantageous arrange
Nment for the company While the
ainarack Junior is a small mine, it's
d. r1ch one. KearsaTge is also a very
good mine, and with their products
added to that of the Osceole, it enables
US 10 OBTAIN much better grade of
rock. This Improvement In the rock
amounts at least TO u of / per cent -
When asked as to whethez, the com
pany contemplated the payment of
quarterly dividends instead of semi
annual, as at present, President Ripe-
low said 1T is difficult to pay quarter
~ dividends. We can get at results
more closely in six months periods
than in quarterly"
suit was brought in Denver, Col. YES
terday by the officers Of the Victor
Mining Company to get possession of
| the Isabella mines bonanza vein
which, 1t is claimed, is Victor property
and not Isabella. Two grounds for this
claim are advanced The first is thar
the vein comes to an apex on Victor
ground, and according to federal regu-
lations this gives the Victor cornnanv
prior claim to all mineral in that vein
whether in Isabella ground or NOT
Many technical circumstances. support
ing THIS claim seem favorable to the
Victor company. The second con+en
ton is that the rich mineral is on
ground owned by the Victor people but
| located under the name of the Roxan
| Cold Mining Company, a subsidiary
corporation affiliated with the parent
company Stock in the Victor company
is extensively owned in Worcester
while Isabella shares are held bv only
a rev individuals, since the recent eff
forts to corner the holdings by petsons
who had secret knowledge of the no
nanza strike in advance.
The price paid by Standard Oil folks
| Tor Utah, 40, seems very large com
| pared with the original price of sbout
" per share when it was a gold mine
| or 80 per share when it was considered
a copper mine and copper mining peo-
pie were invited to come in. The latest
expert report is that the company has
now in sight 100000 tons of copper ore,
carrying gold and silver, upon which a
pIont Of at least $40 per ton, or
| *2OOOO,OOO should be made upon a 10
| cent copper market. Utah, il is said
Will be merged into another combine
| tion at Is.
| Both Isle Royale and the Niners'
| Copper Company, which seem likely to
tie up have been organized with
| $lOOO,OOO cash in the treasury and both
] So t'itil treasury money Dy SuDSCrip-
| ton at $50 per share. Isle Royale did
/ Tor a while in the bad times sell a little
under the subscription price, while
Miners in the copper boom" times was
never publicly quoted and probably
never has since the subscription sold
at less than $40. The inside" price
was under $40, the Isle Royale being
about $40 per share and Miners 81 50
per share, and Of this 81. so per share
not all has yet been paid in. But
Miners is owned by some Standard Oil
| people and It does not have TO show
| copper TO have value.
The Boston news bureau hears that
$2i5 per share has been bid for II 900
shares of Tamarack Mining Company
ned by an estate. 1t is doubtful If
this Will secure the block, as the rep
resentatives Of the estate expect Tam
arack to be the legitimate successor of
Calumet & Hecla. Directors of the
Tamarack are figuring that on an or
binary copper market Tamarack with
its No. shaft completed and i'm fun
production can pay $40 per share per
annum upon the present 10000 shares
outstanding. We understand that il Is
proposed Immediately to equip the No.
4 shaft.
Advices have been received in Bos-
ton from the superintendent Of the
Cochiti Mining Company that the drift
running on the fifth level north Is In
fnc body of ore The vein on tho third