The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-11-19

very largely clear the unsettled condition which now
SUPERIOR & BOSTON,

exists
SUPERIOR & BOSTON
The annual meeting OF the Superior Boston Copper
company will he held in Globe month at which
time directors for the ensuing year viii be elected
and is quite likely that there will be change in
the present personnel of the board
President Rice left This week for property and
will probably be there the time the crosscu on
the eighth level reaches the body News of This
strike is expected in very time A director o.
the company informs us that Superior Boston is fin
anced Cor least another year without calling upon
shareholders for any further contribution, necessi
tatng the issuance OF additional bonds. Like
wise, from the source learn that the company
will probably be in position to resume shipments
within another three four months a much more
scale than before. when production 10
begin it will continue indefinitely. II is realized
shat mistake made when shipments of ore began
before Superior Boston not in a shape to main
tain these shipments regularly without an excessive
cost Shareholders, however were clamoring for the
commencement of shipments the manager-'f'
finally persuaded take this step against its bet
judgment
From market standpoint. the stock will probably
remain rather dull until from the mine gives al
incentive for further activity.
CALUMET s HEclA-
The strength in Calumet d Hecla this week WI II u
sid above 100000 feature of the copper share
m.rret Various explanations offered for this
advance but one of considered all salts
factory.
one rumor which was circulated locally lad tina
subsidiary organizations would be merged. thus SAVING
considerable in the matter of overhead expense.
There will probably be change In the forthcomn'
quarterly dividend. There Is some talk Of Osceoa cat
ting disbursements $500 $500 AS the CGlume
Heca S?,7SI shares of osceola, the osceola ac
ton will have some bearing on the next quarterly dis
bursement o Calumet & lIecla
Directors of the Calumet & Heca and its subsidar!
conn anics were greater part this week
Lut no announcement forthcoming to explain tn
lengthy 1t probably had to do with the pro
Poses merger CT the companies controlled as aoo't
indicated.
oScEoLA-
There is some consideration given to the forthcom
ing dividend of Osceoa Consolidated. Six months ag
the company paid 81 share, and year So. TIL
next disbursement will probably be either SO 81
share The fact that the metal market has shown i'm
provement during the few weeks leads to the lie
lief that the dividend will continued 81 per share
An analysis Osceolas affairs leads to the concu
sion that present time the company is hardly
the rate of 100000 pounds of copper per annum Cost
according to the report had been reduced
947 cents per pound This included a construction
"A cents per pound. The old branch is idle, bu
this fact has probably not changed costs whatever S
that 1t is safe to estimate that Osceoa is producn
! copper for approximately 9.5 cents per pound
! which includes every expense
II Osceoa has been fortunate enough average
thirteen pound for it's product for the las
| six months it has earned about 100000 resul
which together with it's outside income might be raise
| $35O000. The company has issued $3.50 that
dividend "a per share would only be possible by
ing a slight from the surplus account AS
Dec 81 1902 osceola statement showed balance
assets of s1,s51,219
From the action of the stock it would appear q
though change in the dividend likely. TT
company is operating on a very economical basis III
Kearsarge branches continue show up satisfactorily
although will probably disclose further decline
the copper contents of rock mled, the fc
the past two years. Mill improvements, however. hay
done much to remedy this loss AS an advance of or
cent in the selling price of copper means So per har
osceola stockholders. it is evident that metal
dtons will closely watched by Osceola interests.
CHINO
The advance i'm Chino yesterday TO above s24 a shar
was attended with news of Importance. That tn
property is developing to proportions than tn
most sanguine expectations of its early promoters
certain 1t is quite likely that shortly the compan
will arrange either issue of additional stock
bonds The money will be used build a concentrate
and provide working capital sufficient to the com
panys requirements until production begins
| TUOluMNE-
| The strength in Tuolumne Is due to the adjustmer
of its difficulties with North Butte. Upon what has
! settlement effected is impossible state, al
though official announcement expected yester
day afternoon. The stock sold up SIS per wit
| the volume of trading very heavy.
CAL. & ARiz. AND SUP. & PITTS
Commenting upon the proposed merger of Calum,