The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-01-29
CURRENT GOSSIP OF THE C0PPERs


|
-..e .olen 70 .D,vr.ep. lac Da.onie. ,o"'
slvmerale oscso.a anu o,ner mineral bearing veIs
| yrng tue .Aoodl ~"
oeeAs ag1 urlDns uiscontliued at,r
-u,,iIs conglonlera,e nnuing t~sn',-
eignt test wide. with copper except
"A me ioo,waiL found to have hattencd
out angle of about eighteen degrees. The drl
IS asw m bout feet ,c south making
ceent progress.
The only other deveoment work under way the
property sinking the shaft the Kearsarge lode
The footwal side of this shaft shows up best, carry
ing very attractive looking copper Further depth 10
necessary to thoroughly determine just what
suits may be expected from the Kearsarge lode where
the Keweenaw cc.tering its efforts for the present
sHATTUck-
The annual meeting of the shareholders shattucS
will be held February 49, 1t is understood that at this
meeting matters of passing interest will come
up for discussion AS is quite generally known there
has been dissatisfaction among "A number Of
the large shareholders Of the These matters
will probably ironed out meeting In addition
the question of carrying plan aggressive work
will be discussed. II the company intends open up
on large scale II may the sale of additional
stock to provide the required working capital This
STEP though is hardly likely unless shattuck builds its
own smeter. -'s
ishattuck is now shipping between $50 It's Of
ore daily to the Copper Queen smelter The runs
better than six per copper. The company has
large body of blocked ready stopping. and
can turn this into money as as desired.
1t has been limited that a possibility Shat
tuck being taken into the copper merger in the
embryo basis of $40 per share 1t is also
reported that both the Calumet Arizona and Cop
per Queen companies would like purchase control
of the company but terms much lower than has
been previously reported At the present time the
company is doing little pay own way
working about fifty The annual meeting will
watched with than passing interest by of
the reported plans.
NEW BALTIC LODE
Diamond drilling at the New Baltic property is
tnued, though positive results looked for until
early in February The drill has about $50 feet further
to go before it cuts the so-caled New Baltic lode
Should the pulled then show satisfactory
as did the original there promises to be some in
teresting develoments in the stock Early in spring
the will break ground for shaft 1t has funds
sufficient about 100000 with which to push develop
ment a vigorous
MOHAWK
The Kearsarge vein where opened up No. shaft
of the Mohawk is showing some gratifying val
ues The lode shows some very good stamp and barrel
copper, and though there has been drifting done
upon 1t yet it bears very close resemblance to
the rock taken from the rich portions of the Wolverine
and Armeek mines. The management will probably
not permanently equip this shaft this year,
less there will be material improvement in the price
of copper. Limited shipments of from No. shaft
will probably go forth before many more months will
have passed. and will do much to raise the mineral
turns at the Mohawk mill.
TAMARAck-
Shareholders of Tamarack are showing considerable
interest in the organization OF the Cliff MINING com,
any and 1t is quite likely the underwriters will
get practically of the new issue Work nj the
Cliff property will begin before the winter will have
passed, we informed 1t is quite likely tba.
some diamond drilling will at the outset though
mining will follow quickly at the Cliff shaft which has
opened up some ground offering possibilities worthy If
further attention All work at the propertv was die
continued last fall because the Tamarack treasury was
greatly impoverished.
Tamarack shipping all of its congIomerate rock to
the Calumet and Hecla mill, and are Informed that
results obtained from this arrangement have been fully
up to expectations. Though Tamarack is not shipping
quite MS much rock as formerly its production remains
normal II copper sells around per pound
this year shareholders of the company may expect a
dividend before the end the year. segregation
the Cliff property alone will provide the company with
$6So0oO which will more than liquidate its outstani-
ing Indebtedness. In the active copper share
market Tomarack will be found giving a good accoun,
of itself in whatever advance in prices Is registered
LAKE SUPERIOR AND ARIZONA
We are Informed by official the Lake Su-
perior and Arizona company that negotiations ara
sl pending COR the further financing the property
and that within the next two definite an
nouncem mt the subject will possible. II nego-