The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1905-04-14
CALUMET & SONORA.
A Proposition Meriting the Attention
of Intelligent Investors.

of Intelligent Investors.
The following article from the
columns of the Mercantile and FL
nancial Times, New York, of the is
sue of April LIST, will be read with
interest by many local stockholders
in the Calumet & Sonora, of which
Capt. NJ. L. Fay, of this city, is pres.
| ident and general manager:
1t is an admitted fact that of the
most profita BILE investments of re-
| cent years have been those made in
the mining industry, and the pub
lie at large is naturally anxious to
be kept correctly informed regard
ing such desirable securities as
may be placed on the market from
time to time.
In this connection your cores
pondent is more than ordinarily
pleased to direct attention to an
offering of stock now being made
by the Calumet & Sonora Mining
Company, whose general Offices are
located at 610-611 First National
Bank Building, Duluth. This is a
Development Company of more
than ordinary merit, and as such
we recommend it to any of our
readers who may be seeking a safe
and highly remunerative medium
of investment. We only make this
assertion after thorough investi-
cation of the proposition in it's
various details, and we are conf.
dent that the purchaser of this
stock will. in the near future be-
come the recipient OF large dividend
payments.
The Calumet & Sonora Mining
Company, which is actually the
Development Co., was organized
under the laws of the State of Min
nesota about one year ago, with a
capital stock of 100000, the 10000
shares being issued full-paid, non
assessable and of par value of $40
each. Its executive and official staff
includes Marcus L. Fay, President
and General Manager; w. J. Power,
Vice President; Chas. w. Erickson,
Treasurer; Hubert V. Eva, Secre-
tary; Louis F. Swanstrom, Assistant
Manager; H. ]. Grannis, Attorney,
and James A. Daugherty, Superin.
tendent of Mines. w. J. Power, the
Vice President, is leading bust
ness man of national reputation,
and the progress which is being
made in the development of the
company's holdings is largely due
to his intelligent and we'll applied
efforts. He has recently returned
from an extended visit to the COM
pany's properties, and he is en-
thusiastic as to the favorable
character of the development work
thus far undertaken, as we'll as by
the prospects of large profits in the
future development of these very
valuable mineral possessions.
The Calumet and Sonora Mining
Company own an aggregate of ia
acres of valuable mineral lands, To-
Gated about four and half miles
south and a little west of the City
of Cananea, Mexico. 1t is about
ffty-fve miles south of Bisbee, Ari-
zona, where the Copper Queen, CAL
umet and Arizona. and number of
other great copper producing prop
critics are located, and Immediately
adjoins the properties Of the Greene
Consolidated Copper Company at
Cananea. The property develop
ment to date comprises upwards of
200 feet of tunneling, on No. shaft,
with drift close to 200 feet with
good copper values all the way
through; No. 3 shaft down to a dis
lance of 1872 feet, and is bottomed in
high grade ore, and No. 4 shaft at
the time of Mr.. Powell's last report,
was down to a distance of sixty feet,
and has fair showing. The low
est assay of the copper ores shows
value of $40 per centage, per ton,
with maximum assay to CLIO per
cent, thus it may be seen that the
ore deposits are of such a high
grade as to practically assure large
earnings at very early date.
At the present time, in order to
provide for the purchase and in
stallation of the necessary machin-
cry, as we'll as for the futher devel-
opment of these properties along
systematic and progressive lines, it
has been deemed advisable by the
company to offer for public sub
scription limited allotment of
this treasury stock at $500 cash, par
value $40 per share.
When developments are complet-
ed the company will be reorganized
into mining company with cap
II ital of about 100000. and each