The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-02-26
CURRENT GOSSIP OF THE COPPERS

IL
shareholders an opportunity of ascertaninv VIII. ing
be expected from future operations. Whio mo- '
always regarded the Lake as property OF unono.
toned merit. have held to the fact that =,
selling too high. and still believe this is truo =,
of the great amount OF work yet necessary 70 L.,
property with such mines Ahmeek Wolvor
Stockholders, though have cause for copn,, .
the mine Is able to show 25 pounds OF conner D., .
ton OF rock stamped. We would much rather CO. -,
figure maintained than have report of tvoo -,
amount, for there is certainty that present ro.,'
more of positive nature than any much ri,
figure could be-
CALUMET AND ARIZONA
Calumet and Arizona directors are now schedule, :.
meet Monday, Feb 2S, when action will be tou -
the dividend for the quarter. A director of the co
stated TO the writer that there is little likelihood OF
any ehange pemg made In the rate although in some
sources increase looked for making the d,v,,o..
s15O share This is entirely unlikely in von, =.
the continued unsatisfactory state of the meta, man
ket. n .p-,,.-
While 1t is true that the company is now earnip.
much better than dividend requirements as was ~
planned by director of the company, Increase at
this time would be unwarranted because there 10 IA
assurance of the stability of copper prices Cal,,
and Arizona has sold its copper for some time abe,
and has what is believed very good prco e.,
this metal Another three months may find businoss
conditions unsettled to a degree making reduction ~
the dividend again should be made at this time
To give stability to the disbursement conservatism mp
be shown.
Late developments at the c. and A. mine have been
very encouraging particularly the Oliver shaft
large body opened up 1s5O-root level and
indications strongly point continuance of this de-
post to the level below
SUPERIOR AND PITTssURe-
Superior and Pittsburg is sinking in its Brgg,
shaft and finds trouble whatever with water Tn.
Hoatson and Junction shafts shipping regularly
and should such step be deemed advisable it woule
be possible to easily increase the output thirty nor
cent. Rumors of change i'm management continue
to be freely circulated, and while denied by directors
of the company 1t is believed that after the annual
meeting next month there will be developments ao 70
this line affecting both s. and p and Calumet and
Arizona.
1t may not be generally known. but the oliver in.
terests of Pittsburg largest shareholders n
Superior and Pttsburg holding $4,000 shares Of
the stock c. A. Congdon ranks second and President
Charles Briggs is the third largest shareholder
Mr. Congdon who is a director of the COM
pany accumulated a long line of the stock in the
break about two years ago, and holds above OOOO
shares. while Mr.. Briggs holdings run close to that
figure.
oscEoLA CONSOLIDATED
1t is understood that after March and continuing
for at least three months the two shafts at the Old
Osceoa branch will be closed down. ostensbly this
will be for the purpose OF making repairs the
two shafts. though it is generally understood that
was not the sole object which prompted the decision
The two shafts, Nos. and g. require some attention
but conditions such as to make IL desirable TO get
out as much copper as possible it would be likely
that osceoa would close only shaft at a time
else arrange to do the repair work at intervals which
would not interrupt production any great length
time.
There are probably three contributing for the
cessation of work at the two shafts in question. one
concerns the labor situation second the desire to
pair the shafts, and the third the general idea
tailment of production
The two shafts to be closed have been shipping
larry about 16OO tons of ore per day. This CHI
tirely from the osceoa amygdalod. This vein is
costly to mine that the Kearsarge which is receiving
attention at other portions of holdings Not
only is this true but the mineral contents run consider
ably higher in the Kearsarge rock This is contribu
tary factor likewise in the policy OF curtailmen
was factor in operations at Tamarack At the Tam
arack the osceoa vein workings were abandoned fo'
the time and all work conferred on the Calumet
gomerate because of the lower costs of mining tn,
conslomerate lode The closing shafts at tbs
osceoa will throw out of employment temporarily, at
least, about 500 men,
'ohsiderabe conjecture has arisen as the effect
OF this plan of Osceoa. In Analysing the situation it
becomes quite apparent that the companys production
VIII be reduced probably by fifteen twenty cent
In the event that no curalment IS desired production
at normal rate could probably be maintained by
pushing production from the five shafts operating
the Kcarsarge lode
osceolas earnings as n consequence of closing down