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

on an equitaoie OASIS. This probably Is a LITTLE ~
to take up this matter but believe utma,o,, =.
will come about
South Lake has outstanding but go 600 sharo
ing sfeO paid in. 1t is capitalized for 1oo ooo
of par value Of $25. rhe company has annr, '"'ieS
ly $4,000 in cash in Its treasury obtained r
recent sale of 10000 shares stock at $3.50 No. -,
old shareholders being given subscription a.,
The company has started diamond drilling opera,
and news of Importance be expected a, III.
any time
HoMEsTAkE-
Efforts are being made to adjust satisfactory, >,
| present labor difficulties at the Homestako =
SUCCESS has been Indifferent To take broco,,,,..
against the rumored threats OF violence arars, d,
companys property a force about 100 deputies No.,
been sworn in The management is firm in the bo,o,
that no trouble or damage will be done the com.
pany's property. No adjustment OF the existing ,,o
culties is in sight indications pointing strongly - a.
trouble being prolonged into next year.
| LAKE SUPERIOR AND ARIZONA
There little revival of local interest in lob.
| Superior and Arizona. The rumor gained mite CO.
currency that negotiations progressing favorahI
for interesting capital in the property IN ,ti,
event work at the mine could be pushed along ,
vigorously.
UTAH COPPER
The suit filed against the Utah Copper COMPANY bv
Col Enos wall caused weakness in the Issue
He claimed that the Utah was encroaching on ,
portion of property he controls. Col Wall was
formerly connected with the Utah. and 1t is believed
his suit is prompted by other motives than those
made public. The deal for the merger between Utah
Copper and Boston Consolidated will undoubtedly ne
contaminated. Details will probably be made public
LIVE OAK
This issue is selling assessment of 50 per
share paid 1t has been very strong during the week
showing an advance of about two points. The IA
vorabe reports from the coupled with the limit
ed stock issue makes it extremely attractive
DAILY WEST
The report has gained considerable circulation that
DAILY West contemplated closing down its mine pend.
ing better prices for its We are told that n,
such plan is contemplated. 1t develops that the
rImor came out when the company laid off one shift
because the shoot between the LOO 2OOO-oot
levels was low grade. AS as better ground is
opened production will be increased
ARIZONA AND MICHIGAN
Negotiations are progressing favoraby for an ex-
tension of the option on the Arizona Michigan
Prop rty. If successfully ,onsummatcd will make
it possible for the company to continue work for some
months longer without the necessity of making the
payment due February l. In this event It will not
he necessary shareholders for Any more money
for the present. a result of this news becoming
known the buying of the became quite pronounce
ed AT the low prices there little came
out Sellers only disposed their holdings because
of the prospects of early call for more money
With this out of the way the buying became more
pronounced. 1t is hoped in the event Of the
negotiations being brought successfully, that
more money will not be required until the company
ra that 4 has
the further development AZ yet the Tefair SHAFT
not broken into but the management is quite
confident of results in due time a this point.
SUPERIOR AND GLOBE
There has been little of Importance developed
the Superior and Globe during past Tho
shaft is being sunk rapidly as possible reach
the water level when lateral work will be undertaken
II is hoped that this will be before the first Of
coming The company has sufficient 60
carry its work for least ANOTHER year
HANCOCK
No. shaft has not yet passed through the West
lode. The shaft has tlmbered as sinking pro-
crossed causing delay The vein far open
ed up Is regarded as being richer than at any
point heretofore opened. the company hay
ing lode extending from the 0Oo-foot level down
to depth of about 2,1Oo feet at least. Drifting on
the lode will probably be undertaken from No shaft
very
ELpoRADo-
Advices received this week from the EIdorado In
dictate that results at the 4oo-foot level are even
better than expected The company has opened up i9j
feet of ore already this level which will average
at least $40 per ton. shipping regularly to its
stamp mill and getting returns making these shipments
profitable II Is expected that within the next four