The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-11-16

ious churn drill holes and vertical
shaft.
Minnear & Co.'s Gossip
No definite information Is obtainable
concerning any agreement between the
North Butte and the Tuolumne but
there Is a persistent rumor that a side
line agreement has been reached.
President II. +. Fay s1ys:-The Bos-
ton Miami Copper company, which was
recently taken over by the Arizona
Cannanea Mines Corporation, has just
completed arrangements with the Live
Oak management for joint churn drill
ing operations along the boundary be-
tween the Live Oak and Montezuma
group Of lands recently acquired by
the Boston Miami company. This
will begin early this week
We understand that the Tecumsoh
branch OF the LaSalle is looking good
and is going TO have eight or ten extra
drills in operation. Men have been
transferred from the Caldwell shaft
10 Tecumseh No. / and No ?.
The proceeds of the new Lake stock
viii place $4,000 in the treasury,
which, il is believed, will finance the
development OF the property up 10 the
time that the management may con-
slider erecting a mill for the treatment
Of the Lake output. The report from
the property continues very favorable
as i'm both the ends OF the drifts and
the showing at the lowest level, there
Is basis for believing that the Lake
will make big producer. II is al
ready "a good mine and according to-
Engineer Weeks there is a large ton
mage ia the upper levels that could be-
sent 10 the mill. There seems 10 have
been very little selling against rights
by stockholders and on the other hand,
there is "a quiet demand for the stock
that indicates accumulation around
present levels. The conservative ac-
ton OF the stock In the market and the
thoroughly efficient management II
both the mine executive ends Is caus-
ing gradual increase Of confidence in
the property in quarters where the
former ky-rocketing produced a feel
ing of distrust.
The continued strength in North
Butte has caused considerable com
mcnt. The general opinion is that the
big interests who have been accum-
ulators Of the stock at the low figures
knew what they were about and that
We shall see the real reason soon for
the rise in bcttcred ore values as de-
vclopmcnt work in the property is
prosecuted.
Tho Shannon report was an extraor-
dinarily satisfactory document Be-
sides the decrease I'm costs the better
recovery was feature The company
earned, in spite Of the bad copper con-
ditions almost 81 per share gross and
from this sum, after paying an inter
csts charged and reducing the out
standing bonded Indebtedness, the
company netted $4,000 What few
noticed was that the company had ac-
quired out of earnings several new
claims two Of which are Of exceeding
promise.
East Butte's rise was duo 10 the dis
covcry Of the rich ore In the Pitts
Mont. property. Several times in the
past rich ore has been discovered in
this ground. Butte people think they
have at last got TO the permanent ore
body.
GolGGeld Cons. netted S7t4127 for
October The company shipped some
ore from the recently opened rcw orc
body and efforts will be made In the
near future 10 open some OF the more
promising parts of the domain that
have not yet been opened up.
Cactus has discontinued prospecting
with churn drills for the present.