Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1909-09-21
Days Financial
News and Gossin.
Boston, Sent 9o

boston, Sept. 20, 1909
ChicagO-Grain delegates firm, :.
Southwest say farmers are ho,a;me
wheat more than ever before.
The American Steel Foundries =.
annual report, to issue early in oo,o
Der, Will show a small surpIus
New York-The average price Of 90
active stocks at close SATURDAY. w.
l22.15, advance .03 compared with Fl,
days close. A year ago the ayera,.
was 1878.
Houghton, Mich.-The New Rails.
Exploration Co. has Just taken a drn
core frcm what is presumably ths
west lode of the Baltic formation IN
It's property. The core is well charyJ
with copper and. though not eycen.
tlonally rich, indicates that the com.
pany has at last succeeded in locaii,,
copper. About q feet of copper roes
was obtained. The main lode undery.
ing the west lode is yet to be tapped
In these operations. The core was TAX.
en- from a depth of 300 feet
Daniel c. Jackling, general manager
of Utah Copper, says that with tba
increased rate of production they ON
decrease the cost of operations. He
expects to get it below eight cents
pound and allow a net profit Of =,
least five cents Il pound on the pres.
ent market price of the red metal
Boston-The Butte Ballaklaya Can
per Co., the shares of which have iast
been listed on the Boston Stock FIX.
change, is the youngest of the mining
companies to be organized for opera
ton in the Butte district, and is one
of the first among them to reach a
producing stage.
George Blumenthal is one of the biz
winners in Steel common, of Which he
accumulated a line of 100000 shares
under so. 1t is understood that Mr..
Blumenthal sold out his Steel around
so. This only shows the caliber Of the
market for these shares.
Houghton, Mich.-Improved cond,-
tons at depth in South Kearsarge
branch of the OSceola Co. is indicated
by the particularly fine grade of cop.
per rock now shipping from that mine
j ne lHllItN tIltIIl - 1Ipl CollIlIitu u
any particular territory but it is said
to extend throughout the lower work.
ings. with the best average ground ap-
parently lying to the southwark in the
direction of the Centennial mine
Clobe-One of the recent develop
has been the exploration of the great
porrhyry body that prevails there
Contrary to some geologisrs who have
given opinions on the Miami minent
lied zone, these porphyry bodies nave
been found to carry copper just the
same as the Pinal schist of that local
ity. The proving Of this fact has great
significance to all the mining compa.
MES operating in the vicinity. To the
Miami Copper Co, especially, the
knowledge of the prevalence of the
copper in the porphyry is of imports
ance, as it means the addition of an
extensive body of ore to its ALREADY
proven area.
Houghton, Mich.-There is every
probability that LaSalle will enter the
ranks of the regular producers before
the end of the year, ard possibly with
in the next so days.
John d. Ryan has been elected dr.
rector of the st. Paul to succeed the
late II. IT. Rogers. and Donald Geddes |
to succeed his father, Peter Geddes
resigned.
Chief Engineer w. 3. Storey ana
Purchasing Agent W. F. Hodges have
been appointed vice presidents Oh
Atchison.
Continued on Page Eight)