The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-09-03
MICHIGAN
BELIEVE IT'S TRUE
The Amalgamated Copper Company
Thought to Have Control of
the Copper Range.
Gossip in the Peninsula and at Bos-
ton Takes This View of the
Situation. 49, ~.
Special to The journal.

Houghton, Mich, Sept. 3:-The opinion Of
the best-posted observers of the copper stua ton
in the lake copper district is, rule, to the
effect that the Amalgamated Copper company has
secured control, or will secure control directly
or indirectly, of the Copper Range company,
which owns half interest in the Champion and
the whole of the Baltic mine. There is much
gossip afoat, here and in Boston, to the effect
that this, that or the other combination has
been made, Or is to be made. The facts in the
case are known as yet only to those on the in
side Of the recent spectacular depression and
rise of Copper Range shares. .' ..'
The production Of the Champion, Baltic and
Trimountain mines, the latter being about to
join the Copper Range family, was about 15,0o0,-
900 pounds last year, and should be about twice
as much this year, with great possibilities for
the future. Advisers regarding. copper shares,
who are ultra conservative or inclined to the pes
simistic side, have repeatedly warned their
friends, clients and the public in general that
Copper Range is an inflated stock and selling at
too high price, Notwithstanding which the pub
lie seems to have kept its faith pinned to the
property.
Nor is this faith altogether lacking in reason,
for the Copper Range mines are new and grow
ing, whereas most Of the other lake mines are
old, deep and, with the usual malades Of old
age. such as increased depth, heavier machinery
outlay, decreased copper returns a ton of rock
stamped, and several minor troubles of SINH
lar nature. No matter who may or may not
own the control of the Copper Range, it is a
very valuable property, and one that will Justify
the payment Of high prices for the obtaining Of
control. 81 ..s -r......-.. .-.-. q. ...
Work Begun on the Amalgamated.
The first sod was cut one week ago for the
new shaft that the Calumet & Hecla is sink
ing the Kearsarge amygdaloid, and the first
set of timbers was placed on Monday. 1t Is
not expected that the overburden will present
any serious difficulties in sinking, and the shaft
will be continued perhaps fifty feet into the
solid rock after which cross-cuts will be sent
to the lode from which permanent shaft will
be holed thru to surface. In view of the
richness Of the mines opened on this lode to
the northward, developments will be awaited
with interest, especially the same lode has
been tappen and reported worthless at various
points to the southwark.
The Arcadian Is still doing a little diamond
drilling, but the mine has been stripped OF
pumps rails and everything of value and all Of
the big steel shafthouses except one have been
sold and removed to the Trimountain mine.
It is hoped to start the onestamp mill Of the
Phoenix mine next week. The stamp and part
of the washing machinery is secondhand, having
been taken from the old Wolverine mill, but
new jigs have been added and the entire plant
overhauled, SO that the mill is pronounced highly
efficient
The Osceola continues to increase its pro.
duction, slowly but steadily. It has taken
long time to get the two Kearsarge mines
in full running order, but now that both are
large producers the next annual report should