The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-01-21
ONLY ONE MONTH
SURPASSED IT
DECEMBER PRODUCTION LAKE
SUPERIOR COPPER.
At 1917 Cents Pound the Product OF
the Entire District for the Month
Sold for $3.50, OOO-Bullish News
from the Calumet & Pittsburg and
Lake Superior & Pittsburg.
Special to The Journal.

Special to The Journal.
Calumet. Mich, Jan. 21.-Lake Superior
copper production last month exceeded
1888 900 pounds fine and was with one
exception the largest months yield ever
secured. The Quincy, Osceola, Tamarack,
Champion, Phoenix and Michigan showed
good gains. The current production of
the lake district is at the rate of 20S OO0-
900 pounds of refined copper year.
There will be further growth, however,
in the next few months. The Champion
viii show an increase before spring and
will have two more stamps dropping next
summer. The Oseeola probably will in
crease its output to some extent. Mohawk
will have another head in commission, en-
larging it's capacity so per cent. Last
month the lake mines averaged 1914
cents pound for their copper, the prod
uct Of the entire district selling for S2,l5o,-
900.
Two More "comers."
Advces from the Bisbee camp say that
the diamond drill in use at the Calumet &
Pittsburg was operating in ore for three
days last week. The cOmpanyS officials
here Will neither deny nor confirm the re-
port. The impression is steadily gaining
ground with local mining men that the
Bisbee camp will accomplish far more than
was ever expected. 1t IS practically GER
tain that the Calumet e Pittsburg has an
ore body equally as large as the Lake Su-
perior 81 Pittsburg, which has opened over
$50 feet Of ore going from 10 to 30 per
cent copper, besides containing large val
ues in gold and silver.
1t IS the firm belief of local men. who
control the situation in the Warren dis
trict outside of the Copper Queen, that
the Calumet e. Arizona will be equaled. If
not surpassed. by the Calumet & Pitts
burg and Lake Superior &5 Pittsburg.
These companies have the same manage
ment, but are much larger. the former
being twice and the latter four times as
large as the Calumet & Arizona.
1t is expected that the third furnace Of
the Calumet & Arizona will be blown in in
q few days. Two stacks are in commits
sion treating between 500 and 500 tons of
ore day. With all three stacks in blast
the ore tonnage will be Increased to 900
tons daily.
J. Scott Turner has been appointed su-
perintendent of the Higgins Development
company, vice Samuel A. Parnell re-
signed TO take charge Of the Calumet &
Arizona.
Captain James E. Piper superintendent
of the Mitchell Development company,
owned by Lake Superior iron and copper
mining people, says the shaft has passed
thru forty feet OF ore. ..... I.....
The Meadow Mining company has called
an assessment Of 10 cents share, pay
able Jan. Is by stockholders Of record Jan.
II. The company owns u large tract Of
mineral land III keWeenaW county, put mas
not been active for some years.
Rumored Assessment on Centennial. n
Reports of a forthcoming assessment on
Centennial have been revived here and in
Boston. The amount has been placed at
anywhere from So to IS share, the funds
to be devoted to the acquisition of the Ar
Cadian mill, or the obstruction of q new
one.
Sinking in the new No. 2 shaft at the
Junior branch Of the Franklin mine has
reached q depth of 240 feet. Drifting
south from No. shaft at the fourth level
has passed the line Of the new shaft 1t
Is expected that No . will hole thru into
the fourth level drift next month.
Gossip concerning the forthcoming divi-
dsnd Of the Wolverine Mining company is
rife and It appears to be the cOncensus
that the next semi-annual payment Will
be 81 a share. Production is at the rate
OF about 100000 pounds Of copper a
year. A cost OF seven cents leaves a profit
Of six cents a pound on the present meta
market On this basis earnings are at the
rate OF $40 g. share.