The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-12-11
Superior G. Boston

Git W lit NfdluliitN N iiNNihs
Superior G. Boston
The annual report of the Superior 6,
Boston company is in the hands of the
shareholders. Like previous reports Of
this company the shareholders are Civ
en- every detail of information. The
report is complete and comprehensive
The treasury is in a particularly good
condition. with practically 100000 in
cash on hand During the year like
sum has been paid for property, enor-
nous sums paid for permanent hoist
ing and other equipment at the Great
Eastern mine and a substantial outlay
made for exploratory work. In three
years this company has reached a
point where il can now commence ac-
tive earnings on n substantial ore re-
serve which is ready for Immediate
| tapping. II will enter the ranks as n
permanent producer by the first of the
year, according to the latest informa-
ton from the property. The COMPANY
has no further OUTLAWS to make re-
duiring cash and the receipts FROM
ore will gradually add to the treasury
i'm n surprisingly strong way. because
the cost of mining at the new McGaw
shaft will be very small. The Great
Eastern ore body has already been ex.
posed so that n known tonnage of ex-
ceptionally high grade ore can be min
ed through the McGaw shaft for twi
years at the rate Of Approximately
ESQ tons a day, conservatively estim
ated. The ore reserves will be in
creased by n most substantial amour
when the sixth level Is cut by th'
crosscut from the McGaw. This i'm
portant piece OF work is being rushed
with all possible speed. Superior &
BOSTON has not been active i'm the mar.
ket, to any great extent for the pas
gear. 1t is today selling at q price
which does not represent the actua
value in ore blocked cut in the Grea
: Eastern mine. without considering de
/, velopment possibilities at the sixtl
level or without consideration of tn
probabilities of Gardner work or tn
Old Dominion vein. The market posi-
ton of the issue is particularly stroni
lately. We anticipate considerable &C
ton i'm Superior G. Boston within tw
weeks and believe 1t will sell for ma
terially higher prices early i'm Jan
uary. II is, in a sense, now out of TIL
speculative classification. and will b
? in a position to consider dividend dis
bursements during the coming year.
Oneco-
No. 2 drill or No. 4 is expected 1
cut the Oneco lode Mt depth of aboG
$50 feet in a few days. About tw
weeks ago No. 1 drill cut the sam
lode close to surface and II was we
mineralized. The disclosure at thi
depth Is watched with great interes
by the Oneco stockholders.
New Baltic
Plans for the organization of min
ing company out of the explorator
association which furnished the fund
To nay for the conduct or the wor
which resulted in the discovery of tn
New Baltic lode by drill are in ten
. tative state. Formal announcement WI
} probably be made within n few day
4 It is known that the stock of tn
New Baltic company will ente
mining company at value :
So per share and that the Ed
wards estate and the Arcadian com
pany will assume a proportion of TN
new stock as it's equity in the net
company by reason of joint OWNERSHIP
in the property
East Butte
While the labor difficulties on tn