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

$4,000 equivalent approximately sixty cents
share The surplus Increased and amounted to ST.
Os1Se6.OO
further reduced during the fiscal and
copper laid down in New York for In cents
pound.
President Amster, i'm his statement TO shareholders,
adds that he is confident further savings viii be
during the current year and that the
of freight fuel alone saving of s2OOOOoo will
result.
The company has its bonded indebtedness by
leaving $4,000 of the original 100000
worth. and this amount will be entirely cleared during
the present year. There practically construction
ahead of Shannon that the period will
probably show a very satisfactory statement far
earning concerned
In commenting upon the production costs, President
says:
I'VE have, in the last two months, namely August
and September received the benefit of the reduced
of the of certain portion of
the higher grade ores, the the month OF
August per pound at Clifton, and 1919
at New York. For the month of September the
$50 at Clifton and 1915 cents refined and
delivered New York. The established for these
months should maintained during year, and
possibly lowered when the high grade from the
lower levels mined in large quantities.
The profits for the year ending Aug. 81 s2S6s1S
to interest and ss291s taxes leaving profit for
year s1SO,4S6-an increase of s1O6,l49 the
preceding year, although received less
pound o copper than the preceding year, amount
equal about $4,000 the years productions q
HEATING GOLD MINING COMPANY
The officers of the Heating Gold Mining company UNI
der date of November 9th, issued letter TO share
holders commenting upon late developments at the
property In part the following information is given;
'"The shaft hosting from the 500 foot
level and has driven to the 500. We just
starting to drift on $780, having vein
places as expected During all this time North
has steadily driven and today is slight
Iy 1000 north of the shaft. in
all the way. AS the old shaft 900 feet south of
the new and have followed the vein 800 south
O that we proved the vein 1000 feet in
length.
Now az to values. fall, starting
improvements had shipped through the old shaft,
7 in months, cars average of
which the smelter about $4,000 per Dur
ing October just past, shipped 40 of the
smelter value OF averaged about $1,000 per
October operations, 40 cars, will net to the
mine above all expenses $4,000.
believe November. will ship SO so
can thereafter maintain production per
day over, expenses do increase with the
output justified in saying that output of 100
tons per day of the average metal value OF the past
month will enable the mine to fully $4,000
month There is in CAR judgment to expect
any material change in values"
ALooMAH-
Drifting the body at the bottom of the Ago
nah shaft lO4 feet from surface is under the
| shoot of copper is opening up with undminshed
enrichment. The shoot apparently eight
to feet in width This lateral will continue for
| time the management desires determine it's
extent if possible At the time diamond drilling is
| also under way at point far distant from the
boundary line between the Agomah and Lake proper
ties. An effort will thus made ascertain the strike
of the Lake lode the Algomah property. and also
what relation the vein which receiving attention
| the Algomah property to that which is being
| opened by the Lake property.
| BUTTE BALLAkLAVA-
The sharp advance $500 in Bute-Ballablava stock
Wednesday occasioned by the rimor that the
pany had amicably adjusted it's difficulties with
! Anaconda company and the litigation pending
would be with drawn. However. Thursday morning
fcers of the BaIaklava officially that
| this report was without foundation the stock
promptly lost about half of its earlier gain
The litigation the Anaconda Butte-Bal-
laklava of an important nature bearing upon the
| relation between independent and the so-caled
| Amalgamated properties Undoubtedly, Butte Bala-
kava a property o much value. and It not been
for THE present unpleasantness with Anaconda COM
pany, would be selling very much higher
There is talk of adjustment of difficulties
| companies being made on a basis which
admit Of the smaller company being absorbed by
Anaconda. II is quite likely that another month will