The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-10-13
PAINE. WEBER G. co.'s GOSSIP

quiry of the officials of the North
Butte company i'm regard TO the status
of the company's underground work
ings concerning which there has been
so much uncertainty and distrust dur.
ing the past six or eight months. There
Is apparently no important detail af-
fecting property conditions which tn,
management is not now willing to ex-
plain. There was time, a few months
AFRO when the officials considered il
was for the best interests OF stock.
holders that nothing be said. This was
when they We're driving the 1000 level
to cut at depth the sensational or,
body which. on the 1880 level in tn,
Edith May vein had been mainly re-
sponsible for a selling value, for tn,
property of $4S,O00,0 200, 100000 shares
at $120 per share. In driving westward
on the level above referred to the ex
traOrdinary ore values encountered OF
the 1900 foot level were found. Tn
vein had faulted. There was greai
disappointment when the deepened lev
els had been advanced to a point di-
rectly under the per cent to IL pei
cent ore values found at 1880 feet an(
this great richness was not found t.
continue with depth. 1t was almos
too much to expect that ii would con
tinue but nevertheless the officials die
caused grave uneasness. But 600 feet
had yet to be driven to the western
limits of the property before definit'
conclusions could be drawn concerning
the remainder of this vein on the 1000
foot level and to have announced thu
then unfavorable conditions before this
level had been further extended would
have been to pass premature judg
ment on the 900 feet yet to be opened
The management. therefore, concluded
to keep silent and drive to the west
ward as rapidly as possible in the hope
of running into better ore. This has
been done and while no 8 per cent t.
10 per cent values have been found
some very interesting developments
have taken place. AT n point about
800 feet from the western end of tn
property on the Edith May ore body
while driving in the footwall of vein,
was decided to break into the veir
for its entire width. This was done
and to 6 per cent copper values were
opened. IL was found in driving bacl
to the east that these very good orr
values continued until now over 20t
feet of this character of the ore hav'
been opened up which leads the man
agement confidently to predict that fol
at least 500 feet vein varying from
Is to 20 feet i'm width and assaying :
per cent to per cent copper will b.
developed. While the 2.200-foot leve
has not been driven as far to, the west
as has the 1000 there have been devel.
npments equally as encouraging al
this depth-seven per cent ore havinf
been hoisted this week-all of which
has given the management renewed
confidence I'm the life of the property
In the Bell claim OF the Anaconda higf
grade smelling ore has been found at
a depth of 1900 feet and in the High
ore claim of the Anaconda just south
of North Butte rich ore has been found
at depth of $500 feet which can only
mean, says the management. that the
North Butte veins carry equally good
values at depth. That there will be a
repetition of the 1.S00-foot disclosures
the management does not expect. but 5
per cent ore in Butte is rich ore and of
this grade the company is rapidly put
ting large tonnage in sight. On the
1900 foot level the miners have cut
what appears to be the Apex of a big
and widening tense shaped ore body
concerning which until recently moth
ing was known. This is an importat
developmet and Is calculated to play
an important part in the mines future
profits. The company Is sinking new
shaft on the Granite Mountain claim
belonging to the Lewisohns. This
claim is situated directly between the
Edith May and the Jessie claims and
up to the present time the Lewisohns
refused to part with It,. They nave
however. consented to allow the North
Butte to sink n shaft but i'm return the
Lewisohns will receive credit for all
the ore extracted from this claim by
the operating company. This shaft
will materially add to the hosting ca
pacity OF the North Butte company 1t
is now down something over 400 feet
but will not be ssed for hosting until
well into 1910. II goes without saying
that North Butte cannot make the
same showing of costs per pound OF
copper on four per cent to hve per
cent ore that IL could on six to eight
per cent ore but IL the company Is
able to maintain monthly output or
$500. 900 pounds. II should even with a
2 cent cost show 81 per share In divl-
dehds fully earned. With Amalgam-
ated 81 payer selling at so and 9TH
er dividend paying copper stocks SELL
ing on basis to yield relatively low
income return there would seem to De
....... ,as.truaf on fha mart of the policy