The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-10-02
CURRENT GOSSIP OF THE CoPPERs

Lake property. This company treasury
ance OF $4,000 derived the sale of 10000
Of stock at 81 per share This money win not only
prove sufficient for the drilling campaign out also
will provide funds for actual mining opera
tons The drill is down about 200 The
burden comparatively light South Lake VIII
search primarily for the now famous Lake lode 1t
viii also cut the three Adventure lodes The COM
pany owns 800 of land lying directly
Lake ana adjoining the Adventure the north. About
half OF it's is admirably situated. There are
now dOOOO shares Of the stock outstanding
NORTH LAKE
Diamond drilling at the North Lake has been
tended by satisfactory results as might have
expected. The heavy overburden encountered has
made the progress of rather slow. 1t was hoped
that results would be obtained by this time such a
nature as to make possible the sinking a shaft this
fal This is improbable. though, and diamond
drilling will probably continue for the part off
the winter North Lake has yet the Lake lode
IALoUEz-
There SO drills being actuated at the Al
ouez in both its shafts The ground being opened
at No. 2 shaft is proving very This shaft has
completed the turn and is being sunk on an angle
equal to that Of the Kearsarge Shipments from
No. shaft will from gradually until
they cqua those from NO smart. Aouez when II Is
in shape ship both shafts should have but lit
tie difficulty in getting 20 pounds .got copper %
the ton of rock stamped. Great faith has been
tered in No shaft present indications this
has been misplaced
oJlBWAY-
Sinking No. shaft of the Ojbway is progressing
very rapidly, it is hoped be down a depth
125O by the middle the present month"; when
the plat will be and a crosscut started for the
lode. This will be far the company will sink
for the present No. 1 shaft will be carried down to
the depth when the two shafts will be connected
up by drifts At the SOO-foot level the lateral work
from being pushed quite vigorously and
the results attained been satisfactory in
every respect
NORTH BUTTE
Favorable reports from North Butte continue to be
received. The same sellers few months ago are now
quite openly buying the stock around present prices
Reports Indicate that at the 1000 aud 22OO-foot
levels the company is getting into better srade f
ORE AS soon as drifting well under way it is be-
licved that even favorable reports will be
ceived.
Those familiar with conditions in the Butte camp
have for moment doubted that North Butte
voud get rich ore in is deeper workings. The High
ore mine opened of its richest at depth of
500 feet The Anaconda also encountered rich in
dcep mining while the reuvensted only
after getting into a decidedly richer around
depth of 5000 feet.
All the stories North Butte having seen its best
days are idle dreams. The company has bright flu
ture ahead of it, and will found in the ranks Of th1
dividend payers for many years to come.
CALUMET & MONTANA
After a reaction of $3.50 Calumet & Montana stead
led up and considerable wanted at that hg-
uro company, Informed, is vigorously
driving its crosscut through the mountain to the Ida
no side confident of being able to get good re-
suits in a short time Calumet & Montana has suf-
hcent funds all its present needs and is in
pable hands so shareholders look for favor
able in the near future.
CALUMET & ARIZONA
The report given currency yesterday to the eff
feet that the Calumet & Arizona company in contnu-
ing its policy of expansion enter the
Globe camp This to be brought about by the
ACQUISITION of control of the Hovland Smith proper
ties Efforts to get this report confirmed by local Of
hcias of the Calumet & Arizona proved unsuccessful
The Rowland Smith properties include the Live Oak
Globe Consolidated Black Warrior and Cordova' th2
latter holding all the stock in the Eureka From pri-
vate learn that engineers who have been
known to act for Calumet & Arizona recently in
spectcd the above mentioned properties it is be-
lieved that this was the purpose outlined.
The expansion policy undertaken by the Calumet q
Arizona company is undoubtedly one which will be
nucd will do much to strengthen the position
of this stock While it is not known whether this
Globe deal directly the account of the Calu-
met & Arizona company yet such is the way the ru-
NOR has T. The story secuted in sources for
that the best of feeling has not been shown
between interests OF late
Several directors the Calumet Arizona have
been In Bsbee during the past week looking
over developments there Their trip may have some
significance.
In conjunction with the Globe there is already