The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1909-11-16

cry smelling and refining plant of high
standing and for the selling agencies.
The Rio Tintos and the Rothschids
will probably come in through their
selling agencies. 1t is proposed to linn
il production about ten per cent and
advance the price of the metal to about
Is cents.
Both North Butte and Tuolumne are
engaged i'm making surveys and explor-
ations of the Jessie and the so-called
Tuolumne vein for the purpose of de-
termining ownership of it's apex.
Heinze engineers are working the sur
vey for Tuolumne.
Butte Coalition is shipping 2,0GG tons
I of ore per day and producing at the
rate of close to 45,0O0,O00' pounds per
year. 1t is reported that the Minnie
Healy and Tramway mines on the 18th
level have opened wonderful ore bod
les on three veins and that the Minnie
Healy main vein is better and larger
than anywhere else opened in the
property.
The advance in Utah Copper is
largely due to the belief that the com
pany will go into the proposed copper
combination, If formed, on very advan-
tageous terms. The company is pay
| ing 50 a year and earning 81 share.
The statement is also made that the
dividend is likely to be increased.
The United Metals Selling Co. is
asking 13h cents per pound for cleo
trolytic copper which is an advance OF
about u cent compared with the price
last week. The demand for copper is
better than it has been for months
| The metals selling company is not OF
fering freely even at this high figure.
The large skip at the Franklin was
shifted from the conglomerate to the
Amygdalod lode last night and is
working very satisfactorily. With this
change the company will shortly be in
n position to materially increase its
production.
The Shannon company is receiving
gratifying reports from its under
ground ore developments in territory
heretofore considered barren, which
gives promise OF adding greatly to its
ore reserves. We stated some time ago
that the management in following out
a policy of exploratory work had sunk
a winze below the ore level, which
was always considered the bottom vi
the mine and within a comparatively
| few feet below this ore level cut "a
high grade ore body, the Wine cut
ting 22 feet of sulphides that averaged
| Is per cent copper and the ore body
dipping through the winZe. These and
other developments would seem to
indicate that the Shannon manage
ment is now cutting into a secondary
enrichment which should add consid-
erably to the value of the property.
Indiana has contracted for a third
diamond drill outfit to go into COM
mission on that property. Drilling in
No. hole, which was temporarily in
terrupted by a cave-in, has been re-
sumed.
Through the deposit of large blocks
Of Cumberland Ely shares for ex-
change on the basis of az for one Of
| companies has been completed. This
announcement has just been made by
tho Guggenheims.
The situation In Isle Royale a.
shaft remains unchanged. No. shaft
shows improvement which may only
be temporary. but, the rock, which is
at present being shipped from that
point. is undcniably exceptionally rich
Daniel Guggenheim on his return
| from Europe says: 81 believe the
present low price of copper is due
to false impression of the extent If
the visible supply. which Is grossly ex-