The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-10-02

ness policy i'm operation and therefore
they are not making any large bulk
purchases looking to future contracts
calling for it's use. Practically all do
nestle consumers are i'm the same boat
i'm this regard and all of them are like
ly to need unusually large supplies at
any time. The result will be just as it
has always been in the past, that they
will force the price up to an unnatural
height with such rapidity that the mar
ket will become unsafe and Insecure.
We believe that the metal is not nearly
so bad as some people imagine and We
know that the price of copper cannot
decline much from its present level, no
matter what may happen.
North Butte
Readers of these letters will remem-
Der that a few months ago when wild
rumors were i'm circulation that the
North Butte mine was i'm poor ore and
that the bottom had dropped out of
the Edith May vein we published some
advices received from a reliable source
in Butte stating that while the grade of
ore at the bottom levels was not up to
grade there was no reason for alarm
regarding the future of the mine and
that the North Butte was simply pass
ing through the same experience as the
other Butte mines and that we were
satisfied that with depth the same high
grade ore would be found and that we
rather expected il would be even better
ore than mined on the upper levels,
taking for a precedent the similar ex-
perience of the Anaconda. Conditions
arc seemingly justifying that attitude
at date much earlier than we expect
ed they would for the same reliable in
formation from Butte tells us, that
while the management refuse to give
out information on the subject. the
miners all know that the 2,000-foot lev
e and at the 1900 level the vein is
again i'm high grade of remarkable
characteristics and indications are that
the richness continues with depth.
Sierra Mining
We are i'm receipt of the following
regarding the Sierra property "A Mex
lean precious metal company organ
lied by Thomas f. Cole a short time
ago and financed in the east and on
Lake superior The letter comes from
a mining man who has spent many
years i'm Arizona and Mexico you
ask me what think of the old Mexi-
can gold properties recently acquired
by Cole and his associates. I will tell
you frankly that | doubt If you people
appreciate the possibilities OF the mines
taken over particularly as regards
the prospects for immediate returns
on your money. You know how many
years 1t takes to make a copper mine
out of a good ore showing. but these
gold properties are different They
have proven values. They have been
worked. some of them for years. ana
with great success. even with the crude
methods of the Spanish believe that
out of one of the mines DIR. Ricketts,
will be able to produce gold enough |
within six months to pay substantial
stock dividend. Modern machinery Is
needed as well as modern methods.
The gold is proven. Beside there Is
vast tract of territory that will be ex-
plored and that gives promise of show
ing great results when properly opened,
to say nothing Of timber values. Mex
leo is just awakening to its vast min
ing possibilities"
Butte Coalition
Any advance In the copper share list
will call attention to the position OF
Butte Coalition. In the three wears
since the various properties formerly
owned and controlled by the Heinze
faction and now part of the Butte Co
alition have been in the present man
agerial hands. the whole attention has
been directed TO the preparation of
these mines for future extensive pro-