Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1910-01-22
Days Financial
News and Gossip.

Observation-Disclosures r. NJ. Edwards of
Houghton, Mich. who has been so promi-
nently connected with the success of the
Lake property as well as North Lake and
Indians. and is now in Boston, says:
Il believe we have opened a big rich
copper bearing lode on the Indiana and
that it will continue into North Lake and
Lake. Indications are that the outcrop
of the lode is within 1000 or 1900 feet of
Indianas southeastern boundary, the
strike extending for half a mile at least
If this is so, it would mean that Indiana
would have $50 acres everything the lode
We will Immediately start another drill
at an angle of 60 degrees from the sur
face and about 600 feet southeast Tor back
towards the lode) of No. in order to
prove up the dip of the vein as we'll as to
secure data for the location of a shaft
Boston-The upward tendency in prices
of Boston national bank stocks is again
illustrated in the fact that this week the
stock of each of the five national banks
shares sold at local auctions recorded
new high levels. The Shawmut sold at
$685. as against 305 last April; the Second
at 251i against 226 nine months ago; the
Merchants at 255a compared with 239; the
State at 1922 against 1872; and the Webster
& Atlas at 49, against 1922 in April last.
Stock of the First National Bank has
also recently recorded new high record
at $500 per share.
Boston-Western Electric recently sold
to Lee, Higginson & Co. an issue of 49,,
100000 two-year a. per cent. notes which
the bankers quickly disposed of in few
hours on about per cent. basis
Boston-The Corbin Copper Co. of which
Stephen R. Dow is president. has sold IS
600 shares of treasury stock at a price
to net the company $40 per share or $780,,
900 This will make the outstanding stock
10000 shares and will leave 10000 shares
in the treasury. ~ +-ts
The proceeds from the above sale of
stock will provide cash for working cap
New York-Application to list the 2,OOO.-
600 of Nevada Consolidated stock on the
New York Stock Exchange will be made
sometime in February.
Houghton. Mich.-It is now stated on
good authority that there is small likeli-
hood of a mill test being made on La
Sale rock for vet another month or pos
sibly six weeks.
New York-From present indications the
Steel Corporation will book about 100000
tons of business in the current month
which is about equal to production. Thls
means that untitled tonnage on the books
Feb. 1 will be close to 100000 tons. or
about the same as reported Dec. 81. Feb
ruary and March are expected TO be good
months from standpoint of new business.
Boston-The delay in receipt of drilling
apparatus has prevented the Franklin
Company from inaugurating it's diamond
drill search for the northern extension
of the Hancock lode. 1t should start
in few days
Houghton, Mich.--The first crosscut
from MohawkS No. SHAFT TO the kear-
sarge lode has entered that lode for
distance of eight feet, revealing most
remarkable naturalization. the ground
across the entire face of the crosscut is
feet wide being fully as rich as some of
the very best copper measures opened in
the Ahmeek mine next adjoining.
1t is the richest ground yet opened in
Mohawk territory. and is persistent
through the entire length of the lode
commanded by No. shaft distance OF
more than $500 feet. This will give the
Mohawk a new mine almost the equal OF
Wolverine in size and richness. strong as
that statement may appear
Roston-Oficials. of the Wolverine Co.
place the 1909 output of the company at
/? .971. 4S2 pounds, produced at cost under
eight cents per pound. The copper recov-
cry was q pounds per ton of rock.