The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-10-16

CANT but the ore is exceptionally high
grade, in fact it is in about the same
high class ore as the Irish Mag shaft
developed when the Calumet & Arizo
ma first entered the ranks as a produ-
Ger of copper. We understand that
while no agreements relative To the
transfer of control have been made,
formally tentative considerations have
been offered and the price suggested
by the Shattuck people is considered
out of reason. There is very reason
able expectation that there will be a
further attempt TO reconcile the differ
ence now existing and 70 bring about
an affiliation later on. The Calumet
& Arizona has made another small
payment on the claim in the Court
land district but the large final pay
ment on the most important property
upon which the greater amount of de-
velopment work has been done has not
yet been made and the option has been
lextended for some time pending fur
| Their opening at greater depth During
the week the Calumet & Arizona stock
has been very weak i'm the market and
there seemed to be some evidences of
forced selling. We are rather inclined
to the opinion that this stock can be
purchased with impunity on any fur
ther decline. believing that it will aD-
lprcciate very rapidly i'm value once the
metal situation begins to show eviden-
Ices of greater strength.
Superior & Pittsbure-
Officials of this property recently re-
turned from their regular visit to the
great southwest are more enthusiastic
Ilabout the future of the Superior IL
lPittsburg than they are about any 9TH
err property they visited. The latest
developments in the thirteen hundred
foot level of the Hoatson shaft indicate
that the original content of Captain
james Hoatson that the greatest val
lues in high grade ore would be with
the greater depth was based on a pref
ty good knowledge of the situation in
THE Bisbee district. The fact is that
the Superior & Pittsburg company has
developed some unusually strong orc
bodies and that the returns from the
lower openings in these ore bodies in
ldicate higher percentage of copper
than i'm the lower levels.
Isle Royale-
The unusual activity in Isle RoyalC
\ stock this week was based upon re-
port that the Baltic lode had been found
lin "A" shaft. This report has come
out several times in the past. In this
case, as in previous instances the re-
port is erroneous. The shaft has late
1 ly opened some better looking copper
In the bottom but there is by no means
lany certainty that it's identification as
the Baltic lode is assured. For the
month of September the Isle Royalo
made a very good record because of
smaller rock shipments and high grade
rock. The total tonnage handled in
the mill was less than in many months
past.
Michigan
Michigan has decided to discontinue
the unequal struggle until the price of
copper goes higher Thursday the
company laid off $50 men and there are
but 20 men remaining at work at the
property and it is understood that this
number will constitute the working
force at the mine for the remainder of
the winter season. If the price OF
copper should go higher there is a pos
sibility that the Michigan will resume
operations on the old scale but the eN-
lpectation is that no attempt will be
made to resume operations again until
next spring. In the meantime the dia-
mond drill exploration and other ex-
ploratory work will be continued in
the hope OF finding copper formation
that carry greater values than those
upon which the Michigan mine has OPP
Grated for the past few years. The
rumor that the officials of the Mass
company had decided upon a similar
course of action is denied. At least
nothing is known locally of such a
course.
Indiana
In view of the interest taken in Lake
stock In the market attention is wisely
directed toward the Indiana and the
North Lake properties. At the latter