The Calumet news., 1910-12-24


mated 20 earn 81 100000 during 1911
Dividends of 81 quarterly are fore
shadowed. This would call for an an
nual disbursement OF $S,OOO,Ooo
The directors of the Mines company
of America have appointed an eNecu-
tive committee composed of Col. John
Lambert. VIM. Il. Refs. IL. ). Black,
Wm r. Thompson and w. n. smith.
Earnings of the Mines company's
properties are upon a present net basis
of Sl .0O0,00O a year or s25O,000 "A year
above present dividend requirements.
II would take very little 10 give the
Boston market big impetus, as the
LIQUIDATION is the most thorough in the
memory Of the oldest inhabitant. To
use the words of one of the most ac-
tive traders I'm ordinary times, the
market for copper shares has been
practically liquldated out of business.
Cactus has purchased 10000 shares
of Summit Copper company paying
60 cents share for H.
II is planned 10 sell 10000 shares of
the preferred stock OF the Iron Cap
Copper company 10 furnish working
capital. About $4,000 shares OF Ma
tional, Exploration have been pur-
chased under the plan.
Utah Consolidated shareholders are
pretty generally holding TO their stock
i'm the belief that the mine will under
20 a regeneration such as has hap
pencd i'm the case of other properties
that have been said to be bottomed
out
Tuoumne is giving orders for a new
hoist that viii permit a depth of $500
feet to be reached.
North Butte will soon have its
ground opened To the 2,S0O-foot level
where good drill cores have been OBJ
tanned.
by the first Of the year the Anacon-
da underground costs will have been
reduced materially by the introduction
of electricity as the motive power of
the camp and the erection of the COM
pressors electrically driven, which will
be used for all power purr oses.
Col. p. r. McGrath, of Phoenix, Ariz.,
well known mining man i'm the west
and southwest, is guest at the Spald-
ing at Duluth. He has just complet-
ed the payment on 500 acres of mining
lands in the Ray-Kelyin district and
as he has had his trobules getting the
deal through, because OF the activity
of others, who sought the property. he
was feeling pretty well satisfied with
the world at large last evening. Il see
by the papers" said Col. McGrath,
that Savannah Copper company has
made a big strike in the Burrough
Mountain district. ] once controlled
the very claim that this find was made
i'm, and allowed it 70 get away from me.
10 is a fractional claim. and | took
hold Of il under the impression that it
was a full claim when / found that
it was a fraction I dropped IL. As
matter of fact. neither myself nor any
body else IN that district thought
much of that particular claim or the
vicinity twelve years ago. ! called az
Denver Nov. 3 when ! took hold of
that claim and l little dreamed that i'm
il would be made one OF the biggest
strikes In the southwest. / sold my
group Of claims 10 the Comanche
Mining company ! also had the Cop
per Gulf group under bond at one
time. The depth of the ore body. and
the quality OF the mineral, which is
being shown up on the Savannah,
combine to make it strike of great
importance and value"
The Miami concentration viii hardly
bc in working order by January lst. as
5000 feet OF pipe remain 10 be con-
nccted up in the concentrator
Boston and Coi1in has reached l.,
200 feet but the company will prob
ably sink 10 the 1.5OO-foot level be-
fore cross-cutting
IT has been figured out that share
holders OF Boston and Montana will
receive SIG per annum by exchanging
their shares for Anaconda instead OF
Sl2 as al present on the proposed rate
of exchange. The companys existence
has been closed by vote Of the share
holders.
Inspiration Is expected 20 start it's
experimental mill early I'm the new
year
Allouez has been giving such a good
account OF itself that it is expected
that the company will be able to start
on the payment Of dividends early In
the year 1912. II is now pretty well
out OF debt and as it's ore reserves
have been increased steadily. IL should
do better just as soon as the copper
situation demands it,