The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-08-05
NEW COMPANY
In THE FIELD
UPPER MICHIGAN CONCERN HAS
Z CAPITALIZATION OF S2,5OO,OOO.
Land Between the Baltic and Isle
Royale Mines Will Be Exploited
Three Famous Properties, Employ
ang Thousands, Already Developed
on the Same Mineral Lode.
Special to The Journal.

Special to The Journal.
Houghton. Mich. Aug. 5.--The Superior
Copper company was chartered this week
with a capitalize ton of $2,500,000 Sixty
thousand shares will be issued. c. c..
Douglass Reginald c.. Pryor James P.
Edwards and other prominent local men
are interested.
The land lies between the Baltic and
Isle Royale mines on which a good cop
per showing has been secured. The Baltic
Tr1mountain and Champion mines, opened
In the past five years on the same mineral
lode, employ 5000 men and take out about
three million pounds of copper monthly.
Results from the exploratory work I'M
der way in the copper districts are high
ly satisfactory, and the development Of
important new mines appears imminent
A. the Calumet & Hecla Mining company's
two northernmost exploration shafts on
the kearsarge amygdaloid the outlook is
encouraging. Work has been progress
Ing on a permanent shaft at No. 10. This
may be taken as indicating that condi-
tions favor the opening of a good mine.
AT NO. 20 the permanent shaft has been
holed thru the surface after great deal
OF trouble with quicksand. Opening work
has been done underground and the lode
shows copper in good form. At No. u
shaft, which is sinking the extreme
southeastern corner of the property a
depth of sixty feet has been reached. and
1t viii be necessary to continue forty feet
before extending a crosscut to the Kear-
sarge forma ton.
On the south range interest in the sec
ton No. 10 exploration has been ac-
centuated by the organization of a min
Ing company to operate the property. Work
on tWo-compartment shaft will be start
ed shortly. The favorable showing at the
Isle Royale's exploratory shaft has drawn
attention to the possibilities Of section No.
is of the Atlantic. 1t Is almost centa in
now that that tract is traversed by two
cupriferous measures, the Isle Royale and
Baltic amygdaloids Two miles south of
the Globes southern boundary the St.
Mary's Mineral Land compan;. is prepar-
ing to start a shaft to explore the lodes
cut by the diamond drill last summer.
There Is such an immense territory owned
by the ST Mary's company that big
mine could be opened if the results war
rant IT,
Production at No. shaft of the old
branch of the Franklin mine has been~re-
sumed, the shafthouse. which was de-
stroyed by fire, having been rebuilt The
shaft ships forty tons of rock daily and
Is used as an avenue for the men to get
to and from their work.
Sinking in the Allouez Kearsarge shaft
has reached a depth of 975 feet. and is
progressing at the rate of 100 feet month
At a depth of 1880 feet sinking will be
discontinued for two weeks to permit the
cutting of a station at that point Grad
Ing for the railroad extension to the site
OF the new shaft Is under way. Sink
Ing in this shaft will not be begun for
POSSIBLY two months. s4---.---.
Telegraphic advices from the superin-
tendent OF the Calumet & Arizona mine
give the July production as 1858 900
pounds of blister copper an increase of
100000 pounds over the June output A
meeting of the directors will be held here
the latter part of this month, when the
quarterly dividend payable in September,
4
will be increased from $50 to 50 a share,
but this will depend upon the condition
Of the metal market.
AT a meeting of the directors of the
Calumet & Sault Ste. Marie Developm ent
company, held in Calumet this week. it
was decided to make the final payment on
the property under development on the
north shore of Lake Superior, in Ontario.