The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-11-04
MINE MERGER AS
GOOD AS MADE
MIsKWABIK COPPER DEAL SAID
TO HAVE BEEN CLOSED.
Another Large and Prosperous Mine of
the Kearsarge Family Group in Pros,
pect-Upper Peninsula's Refined Cop
per Production in 1904 Likely to
Break All Records of It's Past.
Special to The Journal.

Special to The Journal.
Houghton, Mich, Nov. 4.-The Miskwabik
deal, which has been hanging fire for some time,
seems to have gone thru. The Mskwabik is an
exploration owned by local men, with the mod
est capitalization of $50, 600. A copper-bearng
lode, giving every evidence of being the northern
continue ton of the Kearsarge amy gdaloid, was
located. Realizing that they lacked adequate
capital to make a mine, and knowing, further-
more, that the tract was hardly large enough
to be attractive for large mining proposition,
the Mlskwabik people took up the matter OF
consolidation with owners of adjoining lands
these being the Federal company, Duluth con-
Germ, and the Union Copper Land Mining COM
pany, of the Fay group Of properties
The plan for the rcorganized Mlskwablk calls
for corpora ton with the usual capital or
900 shares. but at present little money Is
being raised by Boston pool for preliminary
work. and the receipts issued for funds so raised
will be retired and regular stock issued when
the company is Incorporated. The amount
of work done on the Miskwabik property Is too
small to serve as the basis for hard and-fast
opinion upon the merits of the property, but
gives very encouraging results. and 1t would
prove no surprise were the Miskwabk to de-
velop into another large and prosperous mine
of the kearsarge family.
October production by the lake mines was
well I'D, and, barring accident of serious
to of the largest mines, the 1904
production of refined copper will exceed 100000
900 pounds for the first time In the history OF the
district
The Centennial management is pushing work
on the surface improvements at Its kearsarge
shafts. The old StOckp1leS are out OF the way
and give needed roOm the Centennial, owing
to the necessity 1t under of buying small
tract carrying the outcrop of the lode has no
to spare in the neighborhood of Its shafts.
tho holding a square mile Of land to the west,
much Of which will be built over eventually by
the great mining camp OF Calumet.
Mohawk's Prospects Good.
The developments at No. shaft Of the Mo-
hawk continue to be than satisfactory.
The Mohawk has given smaller returns from Its
rock than expected before milling was
started notwithstanding which the property is
making large net earnings and will begin the
payment of dividends next year. An increase
of two or three pounds of copper ton Of rock
would add very largely to the net profits Of
operation, and If the mine repeats the history
of the Wolverine, and grows richer at depth,
much larger Increase In mineral values will be
obtained In time.
There are no evidences Of any intention to de-
yelop a mine the Seneca tract, but the time
must come. and within few years, when some
thing will be done with the property. 1t car
ries the underlay of the Mohawk mine, and by
rights should be added to that property, but,
it is controlled by the Bigelow management
is not at all likely to be Joined to the Mohawk,
but may be consolidated with the Ahmeek, of
which 1t is the parent corporation. or may be
made an independent mine.
The Champion Is sinking in all shafts. Owing
to other work hand and lack of adequate
power for drilling machines sinking was dlscon-
tinued about a year ago. The Champion has
ample air for all the machines that be used
to advantage and Is situated that it can
feed 1000 tons of rock daily to the mill, and do
much dead work in addition may be de-
sired.
Predictions of net earnings of IS to $40 a
share Osceola for the current year may prove
correct, but such large earnings not ex-
pected by those who depend upon figures and
past history for their opinions of present and
future earnings.
Almost anything in the way of increased pro
duction greater earnings from Wolverine is
accepted without comment. This wonderful
little mine continues to grow richer with depth
the smelters saving larger percentage OF
metal than ever before. costs are decreasing ant
the price of the product is going up. 1t neet
not prove surprising If the next semt-annua
dividend shows another 5O-cent increase in thu
rate
Mines of the "Bonanza Group
The Arizona fever shows no sign of abatement
The quarterly dividend disbursements Of tn
Calumet & Arizona coupled with the finding o
new and rich bodies every few days in neigh
boring mines, keep the market active, and tn
tendency is toward higher prices.
The Calumet & Arizona is fitting its secon
shaft with hoisting gear, and, In view Of tn
fact that the mine Is now making 80, 900, 90
pounds Of copper yearly from a single shaft
which no other mine is doing has done
the Importance of the shaft be seen
The Lake Superior & Pitsburg is rapidly az
preaching the producing stage, but lacks smell
ing facilities and the Calumet & Arizona, CROWD
ed by its ores, Is In shape to 70
from another big mine just at present, so
would not be surprising the Lake Superio
& Pittsburg to send Its to the big ne7
Douglas smelter Of the Copper Queen, whc
could care for them without trouble
Pittsburg & Duluth is proving up big or
bodies thru drilling from the thousand foot lev'
of the Lake Superior & Pttsburg. The Pitt
burg Duluth Is going to be a very awkwar
mine to open, unless developed thru the Lake 8,
perior and Pittsburg shafts, unless contr
Is secured Of ground on the western side {
the mountain, held by the Wolverine
Arizona. The latter company Is arranging fl
an extension Of Its bond, which expires tn
month, and is much encouraged by passing thu
large quantities of soft-ledge matter of the san
promising sort that has preceded the finding
the other big mines Of the Bisbee camp.
sAULT STE. MARIE, MICH-Over 5, 800, OK
tons of freight carried thru the 500 cana
in October over a million more than last yea
Over 100000 bushels of grain carrie
down.
VERNON CENTER. MINN.-sixteen citize
of Vernon Center and vicinity appeared befo
the county board at Mankato to forward t.
building of a bridge the Blue Earth riy
east Of the village.
BATTLE LAKE, MIMI. P. Harrang
yesterday Both wheels passed over his che.
His recovery is doubtful
FAIRFAX, N.-"Grandma' Grasmoe
one of the early pioneers Of this section, is dea