The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-10-08
Mining News

long suspension OF work at Butte, IN
dicates confidence in the copper mar
ket on the part of the Amalgamated
officers. There was a general fear in
Butte that Amalgamated would take
advantage of the fight to close the
mines down for six months or more
and thus solve the copper accumula-
ton problem but Mr.. Ryan had no such
idea and the opening of the mines af-
ter the strike had continued three days
indicated his position toward the cop
per surplus. Mr.. Thayer says that
while the copper market is not alto
gether satisfactory to Amalgamated
they are looking to the future with
hope and confidence. He says general
business conditions all over the world
are improving and it can only be a
question of time until every pound of
surplus copper is taken and the pro-
duction will be taxed to meet the de-
mand.
The domestic metal market for cop
per continues steady. While no large
transactions are being made quite a
number ofmodefate amounts are being
disposed of at about 1915 for electro
lytic. Lake copper is selling at about
1914 cents but none of the Lake pro-
ducers is offering large amounts. The
statement of copper producers associa-
ton on Monday is anxiously awaited
While an increase in stocks is gener-
ally looked for it is said in well in
formed quarters that the recent esti-
mates of 100000 to 100000 lbs
| increase are entirely too high.
Phelps. Dodge & Co. have purchased
| from Nathan Leopold of Chicago al
the latter's copper mining properties
in the Burro Mountain district in Mex
| leo. These properties consist of the
Burro Mountain mine and many min
ing claims, having a total acreage of
about 1000 acres. The properties nave
| been extensively developed and ricf
bodies of copper ore have been uncov-
cred. The mines have not produced
any copper for the market and it is not
! intended to do so at the present time
/ the properties being acquired being foi
! future reserves.
Butte-The new levels i'm the Nortf
Butte co. continue to improve and tho
Edith May vein is growing stronger
and richer both on the 1000 and the
/ 2.2O0-levels. on the lower level th'
vein has. since the drift passed
through the faults carried rather
low percentage of copper but lately the
vein has been showing "A decided I'M
provement and ore assaying seven PEI
cent copper has been hoisted from tn
2.2OO-foot level for the past week TINS
drift is still about $50 feet from tn
west end line of the property. On th'
1000 level the ore fills the entire width
of the vein and gives an average o.
five per cent copper. The ore als'
runs well in silver. about one ounce To-
each percentage of copper. Good prog
ress is being made in the long cross
cut from the 1900 station north to tn
Jessie vein which will be reached in
few weeks. The new shaft on th'
Granite mountain will not be ready To-
use before the first of the year.
Nevada Consolidated Copper CO
shares are expected to be placed upoi
n dividend basis this month. The oil
rectors are scheduled to meet Octobe
%. The Inauguration of dividends a
the rate of 81 year or so cents quar-
terly is anticipated.
The Franklin is giving little atten
;, ton to production and all minin'
work has been stopped on the Con
glomerate The management is stop
ing and taking out the availabi'
ground. This admits of pushing TN
shaft down to prove up the Pewapi'
lode at depth The shaft Is SINKING
in the foot and now nearly down t
the eth level. A Wine from the 26tl
Is being pushed down in the forma'
Ition and II has been in good grouno
all the while openings at the 2Srd
Path. 25th and 26th levels are expos
ling runs of ground that should pay
handsomely to stope. The results
being attained are most gratifying q
the management and will be of i'm
mense value to the mine.
The management of Hancock hav
so good n showing underground wher
mines are made that they are prepar
ing for. the future along these lines
The excavating has been completes
for the new engine and compresso
house and about ten days will see TN
concrete foundations in for this build
inc few weeks more and the hi
shaft will come down on the west lodi
which continues 90 promising ut dept