The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-05-10
BOSTON COPPER GOSSIP.
Pollock Wires Bring In Interesting
Batch Of Red Metal News,

James 4, Pollock & Co., Bankers and
| Brokers, West Second South street,
furnish the following, received over
their private wire yesterday after
noon:
Boston News Bureau says: ELY,
Neyada-The recent strike OF high.
grape copper ore in the Veteran shaft
of the Cumberland Ely has continued
to show increasing values since the ore
shoot was first entered, and it is now
known that the body is Of an immense
size and Will undoubtedly be one of,
if not the richest workings of the COM
pany. Several small strikes are re-
ported in the Brilliant shaft of the Ely
Consolidated in the past few days, but
they have none of them, as far as is
now known, proved of any great ex-
tent.
"The CRANKY company smelter in
British Columbia has been shut down
for ten days by reason of the coal min
crs strike
Houghton, Mich.-The c.. & A. di-
rectors Will meet mt Calumet next
Wednesday, and a dividend of So is
expected. This is the same as the last
dividend, Slight air blasts have been
felt at Quincy lately. The damage is
not AT all serious
boston wires: Inc average prlce
which companies selling their copper
pany will receive for April is very
close TO 25h cents gross per pound.
Butte Mont: The lS00~foot level
on the Edith May vein of the North
Butte is looking better than any other
part OF the mine; car samples taken
this week showed 10 per cent copper.
Boston News Bureau says: IA
broker who has bought a considerable
line of Balaklala in the past says: Il
cannot make out the game played in
Balaklala, but then ] suppose it is not
meant that l should know New stock
to the amount of l25,000 shares was
issued, and Immediately after il was
issued the stock was rushed up to
above l2 and every stockholdcr or un.
derwriter was given an opportunity to
sell out his stock at a substantial prof
lt Many of them did So The stock
has been allowed to gradually work off
TO $40 per share, and it has been main
tanned at this price for several weeks.
and a number of thousands shares alb.
soroed at SO or slight fraction
above, the stock was made easy TO sell,
as stockholders and underwriters could
immediately get their certificates by
paying tor their stock in full The
peculiar situation in Balaklala is that
its intrinsic value is now we'll known,
there being S25 per share net value in
sigh. in the mine; yet the big iuter-
ests IN IT, and they include the Guggcn-
helms, Heinze, McCornicks and others
who generally like to have their Sc
curitlcs sell high, discourage anv spec.
ulatlon IN Balaklala, The whole sit
uatlon at present seems to be a game
OF ''puss in tho corner. - with no two
interests willing TO combine. F."
Globe. Arlz.. wires; Globe Cons
blasted into Josh Billings vein on the
5oo-foot level in cross,cuttinp north
from the Gem shaft This is n vein
from which United Globe has extract.
ed great tonnage of ore.
Boston wires: At the metal EXCHANGE
today all grades of copper were re-.
duced from Is to 4 cents per pound
IN all grades, making Lake o49Gy25,
Eleesstrolytlc 2th@l2, Castings 223I
Boston wires; Stockholders of roc.
ord close of business May 10 get one
new share of Old Dominion at so far
each ~ shares then held. Payments
to he made June 10 and July 10 of sos
each. "-o