The Virginia enterprise. [volume] (Virginia, St. Louis County, Minn.) 1893-19??, 1909-01-08
ABOUT COpPER,A6Ait /:
Cloquet Peoples Ooiaqs il the Pine
Couoty Field.

County, Minnesota, a work in which
CIoqoet people are. actively inter.
ested.
ABOUTTHE GREAT NORTHERN.
The first company to locate upon
the lode in Minnesota wac the Great
Northern. CloquetE people: hold a
considerable block, of this stock.
The president of the company is C.
+. Ovenshire, manager: and treas.
urer OF. the Minneapolis Knitting
Company. He il personally known
to some of the business men of
C!oquet, all of WHOM vouch for him
as man of inf1exib1e honor, abso-
lutte integrity, and the fret order. Of
business ability. He is not only q
Shriner Tor thirty-second degree
Mason) but he is at the head of that
branch of Masonry for, the city of
Minneapolis. The syndicate, which
recently purchased 5000 shares of
Great Northern stock, is composed
of Shriners.
CONDITION OE THE COMPANY.
The Great Northern Company is
free from debt and has money in the
bank. The force at the mine has
been or is being increased to about
fifty men. Much new equipment has
been bought, and shipments of high
grade ore are to begin at once. This
ore assays more than $23 per ton. 1t
seems inexhaustible, in which case
stock will inevitably rise to $50 or
more per share. This ia true, not
withsta nding the stock is now sell
ing at forty cents per share.
THE kEWEENAW WESTERN
The second company to locate up.
on the lode in this state was the Ke.
weenaw Western Development As
sociation. recently. organized in
Cloquet. This company's property
lies absolutely uponsthe apex of the
lode in Minnesota: The outcrop
pings in it are moresnumerous and
the ore nearer the surface than at
any other point. It#is less than a
mile southwestward> from the Great
Northern. A number of test pits 10
this property have exposed the ore
body within six feet Of the surface.
It 1t is identical w'snstiat of:.he Great
Northern. -
As already stated this company is
composed almost wholly of Cloquet
people. 1ts executive committee is
composed of w. H. Skemp, c. +.
Wilander. and Carl Lot. Other Of.
ticers are F. V. Inskeep, president;
He'ge BergIund. vice president; W.
II. Lancelot, secretary; Gus Berg
lund treasurer. 1t will employ no
outside promoting company, thus
preventing manipulation and stoc&
juggling. On the first one hundred
thousand sha res of stock, which are
to be sold at ten cents per share. it
will pay no commissions, whatever,
all of the money being expended in
the development and equipment of
the property.
WHAT NAY BE EXPECTED'
1t is to be noted that the Great
Northern's ore is identical in struc-
ture with. that Of the Michigan
mines, and its copper values (about
- per ton) to the best, produced by
the mines of that section. But in
addition to this, it contains gold,
which is not true of the Michigan
ore.
The gold values average about 81 Z
per ton, but in some assays have
run as high as $3.50 per ton. The
average values of the ore now on
the stock pile has been proved by a
series of assays to be more than
twenty three dollars per ton. This
ore can be treated so as to realize a
profit SIS per ton, and an ordinary
mill would handle two hundred tons
per day. These figures indicate
what the Great Northern may rea-
sonably expect; and there is every
reason to expect as much or more
of the keweenaw Western.
BUSINESS NOT SPECULATION
Neither company ie appealing to
the speculative propensities,. of
wouidbe purchasers of stock. They
prefer good faith investors to spec.
ulators, and expect to develop the
respective properties. in such a
manner as to. make the stock az
valuable to hold as to sell. Some of
the Michigan stocks are paying as
high as $50 per share annually in
dividends, and are nonpurchasab BILE.
-Cloquet Independent:
County School Board Will Select Site.
The county school board;compos-