The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-10-18
Mining News

to the scope of the copper combination,
whether it will take the form of an
actual consolidation OF properties or
whether the Morgan house will sim
ply use it's endeavors to bring about a
settlement OF certain disaTeements
now existing between some OF the lead
ing copper Interests. Lower prices for
the metal might facilitate copper
consolidation. 1t was the demoraliza-
ton in the Steel Industry that resulted
In the formation of the u. S. Steel
| corporation"
President +. Augustus HeinZe of New
York, of the Davis-Daly Copper com
pany, won complete victory over the
opposition element in the company az
the annual meeting which had been
held up nearly two weeks bp a tenn
porary injunction secured by the op-
position, but the lifting of the ban per-
mitted its being held The board of
directors elected: For three years. f..
A. Heirze; for two years, II. Mason
Isayborg and George Baglin, and for
one year Maurice Levy and w. C.
Shaw, all of New York.
Arrangements for the consolidation
of the Nevada Consolidated and Cum
berland-Ely Copper company was
practically completed at a special meet
ing Of the board of directors of the Ne
vada Consolidated company in the
Guggcnheim offices. While those at
the meeting refused to state definitely
when they came out of the board room
what had been accomplished il was
practically admitted that an agree
ment had been reached and il was
stated by one who is in control close
touch of the members of the board.
that the ratio of exchange agreed
upon was three shares of Cumberland
Ely for one of Nevada Consolidated.
This basis of exchange is triumph
for w. b. Thompson. who championed
the cause of Cumberland Ely.
The properties of the Newhouse
Mines and Smelter company will be
sold under foreclosure sale in Utah on
oct. II. After this sale the new COM
pany, the South Utah Mines and Smell
ter will come into possession of the
property. While undergoing reorgan-
iZation the mill has been remodelcd. in
creasing its capacity to 1000 tons per
day and the property has been well
maintained so that it is i'm condition
Immediately TO start up on productive
career. The new company starts of
with substantial working capital.
Rumors that some sort of a combi-
nation in copper interests is about to
be effected continue to come in but
they are all lacking in detail and can
not be confirmed in any official quar-
ter. The latest report is to the effect
that a gigantic copper company is to
be formed along the lines of the Stee
corporation to be known as the United
States Copper Co. The interests said
to be involved are the Amalgamated
Guggenheims. Phelps Dodge Co., w. A
Clarke and Cole-Ryan.
According to this report Calumet &
Hecla cannot be induced TO take part
i'm the proposed negotiations. No de-
tail as to capital or the basis of the
agreement can be had and no one in
authority will discuss the plan in any
way.
Annapolis, Nd, oct. 1S.-An X-ray
examination was made last night upon
Midshipman Wilson of Covington. Ky,
quarterback on the Naval academy
football team, who was injured about
the neck as the result of a flying tackle
I'm the game with Villanova on Satur-
day. While no fracture of the bones
was discovered the attending physician
stated the young man is paralyzed from
the neck down. His brain and speech
are affected. Medical officers believe
Wilson is not dangerously hurt and
that the paralysis will wear off.
A press dispatch from Butte says:
The North Butte Co. is getting into
position to greatly increase its power
of production. When the two new lev
els at the 1000 and 1900 are thorough
ly opened and the new working shaft
is completed, the company will easily
double it's output Several weeks ago
the westerly drift on the 1000 level got
into fine ore that filled the entire width
of the vein about thirty feet, the av-
crage assay giving five per cent copper
and nearly five ounces of silver to the
ton i'm addition to good gold values.
The drift on the 2.000-foot level was
about 100 feet ahead of the drift on
the 2,200-foot level. Now the latter is
also getting into good ore again. Some
of the material shipped from the low
er level runs seven per cent. The cross
cut north on the 2,2OO-foot level ought
to reach the Jessie vein very soon.
The vein looks like the Edith vein on
the 1 800 and 1000 levels is remarkably
large and rich.
Although only a few days have
elapsed since tho publication of the
September figures of the Copper Pro-
ducers' association important interests
in the trade are predicting that the
October statement will show slight
decrease i'm accumulated stocks. Do
nestle deliveries are expected to be
heavier than the So million lbs record
ed in September, while the export
is expected to be naturally |