The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-07-03

STOCKS ARE SMALL
Consumers Of Copper Will Soon En-
ter the Market Again and
Give It Strength.
Shipments Of Refined Metal From
the Lake Shelters Continue
to Be Steady.
Special to The Journal,

Special to The Journal.
Calumet. Mich, July 3.-Shpments Of refined
copper from the lake smelters are steady. The
Calumet and Hecla and Quincy have very little
metal stored at their plants. At the Dollar
Bay smells of the Lake Superior Smelling COM
pany there is goodly amount the wharves,,
aoout l,ooO tons having accumulated In the last
lew days. Dizziness may exist in the metal mar
ket but conditions in the Lake Superior district
do not reject 1t. Many of the independent
producers are still engaged in filing orders re-
locating supply OF refined copper is small Con-
| sun,ers are carrying such small stocks that it
VIII only be matter of little more time
before they will b. forced to enter the market,
adding strength to It..
Pittsburg and Lake Superior capitalists have
formed another development company to operate
| IN the Warren district of Cochise county, Ari-
iona. Calumet, Duluth and P1ttsburg men have
already invested millions OF dollars in that dis
trict. The organization of the junction Develop
ment company was perfected here this week.
Calumet and Arizona. They subscribed all the
capital necessary and stock was offered to the
public. A group of claims north of the Calumet
ana Pittsburg have been secured and exploratory
work started.
| Previous records were broken by the Wolverine
last month. tho product 900 tons Of mineral, be-
Ing the largest in its history. The Wolverine is
now producing to its full capacity. Unless other
|copper-bearing formations are uncovered the mine
Will not show any startling increase during the
remainder Of its existence.
Grading OK tue right of way for the extern.
sion of the Copper Range railroad from Houghton
to the site OF the smelter will be under
way In short time. As the supplies for the
smelter cannot be delivered until the bra ch is
built, work on the line will be rushed along as
fast possible.
1 The Champions milling plant is complete
for the present. The fourth head was finished
few days ago and is treating small amount
"f rock. The mine is operating all the drills
the equipment of air compressors permit and
there is no likelihood ct very large increase
In output until next foil. when new 10O-drill
compressor will be working
| Machinery for No. 4 shaft of the Mohawk
mine Is arriving. The work of installing the
new hoist Is we'll along. 1t will be ready by
the time the new head goes into commission.
| An increased yield OF barrel and mass copper
at the Mass mine caused larger product last
month. The prospects have been improved lately
by the better showing in the lower openings in
A and shafts.
| Additional drills have been placed in com
mission at the North Kearsarge branch OF the
Osceola mine More will be added from time
TO time. until next fall, when the maximum
number will be working. The output of thu
mine Is increasing every month and this year
production Will be the largest ever secured.
! Work In No shaft of the Isle Royale mine
has been resumed after a shutdown Of clever
months The shaft is being placed in shape fo
production. 1t Is planned to commence rocl
shipments In two weeks. About $50 men ant
fifteen drills Will be employed in the reopenet
shaft =