The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-10-30
Continued from Page 2.
OJIaWAY-

oJIBwAY-
In extending the crosscu at No. shaft OF Ojib-
way at the soOfoot level fault encountered which
threw the the lode Up to this writing tn,
vein has been found again. but the management Is
quite confident that 1t will be located shaft
is now about 1900 feet deep 1t will be sunk to the
l26O-oo level where sinking viii be discontinued for
the present and all efforts lateral work.
No. shaft OF the ojibway viii in a few days cut the
station at the 125O-foot level as at No. 1 shaft
VIII discontinue further sinking that all efforts MAJ
be centered extending both north and south
At the s0Ofoo level drift in between 500 and 600
feet toward No. 1 shaft and is opening up some very
satisfactory ground
According to the annual report ojibway had approx
imately 100000 May 1 of this year The company is
spending at the rate of $1,000 per month so that call
for further funds will be order early In the coming
year.
ojbway has about 10000 of its 100000 shares
unissued. This stock is retained to acquire tract Of
16O acres adjoining its property Negotiations have
been pending for time for this land but were
held up pending the adjustment OF the differences be-
tween the Calumet Hecla and Osceola companies
when the Bigelow interests controlled Osceola This
tract In question Is held by osceola but is isolated
hat II Is OF little use to that company. Ojbway can
sink two shafts when this additional acreage
is obtained 1t is that the Calumet & Heel,
is willing to permit the transfer of the property 70 Ia
made to the Ojbway. The c. & II. may obtain for the
land either the 10000 shares Ojbway or an eouIv
aient amount in cash. The weakness ojibway dur
Ing the past week has been due probably the report
of No. developments being misconstrued
MIAMI
There has been question raised the ability Of
Miami getting the satisfactory results from the
treatment of its 1t is claimed that the ores may
be found somewhat refractory. The company has
been experimenting for months past with small ex-
permenta concentrator, and 1t is possible that
port came from knowledge of the this work.
or course the fact that the is already
Ing its concentration detracts from the strength this
report In any 1t is a question which is worthy
OF considerable thought investigation by the share
holders
Miami has announced the plans of issue $780,
900 in bonds shareholders The of bonds camo
as surprise many stockholders who believed the
company in need of additional money. In a cir
cular issued Aug. Is. 1908 the company
scription 100000 shares at $40 per share In
explaining the for the sale this
cuar reads for the OF supplying funds
construction of concentrating plant and car
rying on operations a more extensive SCALE" OF
the bonds will be quickly taken up but share
holders would like and certainly entitled know
where s1,o000o0 spent in a little over one years
time and concentration yet built
WYANpoT-
The new in the long crosscut at the 7OOfoo
level OF the wyandot proved to be twenty-nine feet
wide. 1t carried copper and gave encouragement
of even better results when drifting was undertaken
The management proposes to begin lateral work this
lode at once with the purpose OF ascertainng jusi