The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-12-04

pany are eight and one half cents
per pound on production of 2s,oOO,-
900 pounds the company is earning on
10 cent metal market $1,36O,OO0 or
close to 81 per share. The treasury
now has accumulated a very substan-
tial balance I'm spite of the large out
lays for the development work in the
CORTLAND district properties which
are still under option and upon which
the results cannot be said to be alto
gether satisfactory. We understand
that the Calumet and Arizona COM
pany will enter the copper merger
scheme and that the proposition was
put up to the directors at the last
meeting. IL was not settled conclus-
lively because OF disagreement as to
the terms. At the property of the
company at Bisbee the physical devel-
opments have been more than salts
factory First class sulphides have
been uncovered at the 1000 and 1900
levels of the Oliver shaft and on the
1850 level of the Senator they are
showing some fairly good ore.
CHIEF CONSOLIDATED
This company will be I'm shape to
pay substantial dividends in very
short time. Some sort of mild appre-
citation of the merit of this curb is
sue at present prices seems to be re-
sponsible for considerable buying re-
Gently and for better prices. Chief
Consolidated is earning a very sub
stantial profit on it's present selling
prices. Unlike most precious metal
properties, ii will not Immediately
commence the distribution of all of the
profits, but will rather follow the more
conservative methods OF the copper
mines and establish strong surplus
fund and in the matter of the develop
ment of the property 1t will push re-
serve work ahead so far that there
can always be reasonable expectation
of continuance of remunerative dis
bursements once they are started.
The Chief Consolidated is blessed with
excellent management in the person
of Walter Fitch who has been giving
his personal attention to the work at
the property since the reorganization.
AHMEEk-
II will be early in March before the
Ahmeek stamp will be working in reg
ular order, although the officials of
the company expect to have it in COM
mission about February 10. At that
time at least two of the heads will be
ready for use. Ultimately the mill
will have four heads, but these will
not be needed until the company be-
gins regular rock shipments from
Shafts Nos. and 4, which will not be
for another year. Under present cir
cumstances the Ahmeek Is in shape 20
produce not more than 2,400 tons of
rock daily from which 1t is reasonable
/ to expect a product at the rate of at
least 100000 pounds per year
In spite OF the heavy construction ac-
count during the year, including the
outlay for the stamp mill building
the Ahmeek copper will not cost ten
cents a pound for this fiscal year. The
Ahmeek continues to stand head and
front in the list of the newer Lake Su-
perior producers that are investment
attractions.
TAMARAck-
NNThe Calumet and Hecla proposal Ia
develop the Cliff property independent
of the Tamarack is a sensible way out
of a serious difficulty AS matter
of fact the Cliff was attached to the
/ Tamarack a few years ago, by the
Bigelow interests. i'm the hope of help
ing the Tamarack. The scheme pro
posed now gives the Tamarack share
holders who have faith i'm the Cliff
prospects an excellent chance to dem
onstrate that faith by cash contribut-
ions. 1t puts a substantial sum i'm the
hands of the management. with which
to develop the Cliff property without
calling on the Tamarack treasury for a
cash contribution which the Tamarack
treasury can i'll afford to make at
this time or any other for that mat
ter The fact that the Calumet q
Hecla people think enough of the Cliff
property to arrange for the financing
of this exploratory work is encourage
ing to other properties i'm that vicini-
ty notably the Ojibway.