The Calumet news., 1910-12-24

PoRPHYRY STOCKS
There has been some quiet liquidation OF the por-
phyy issues during the past few weeks ana IL io''s
rather significant Investors are becoming somewhat
chary OF these issues some unaccountaoe reason
While the stocks arc Icing offered down. S'ey are
being handed as rapidly they VIII be absorbed
a measure the quiet liquidation OF these issues
which include Ray Consolidated Chino and Miami ana
to degree Inspiration may be attributed to
the metal market. Copper has not strengthened to the
degree that generally expected. There will be sew
eral porphyry group the ranks of the pro-
ducers early 1911 unless they market their
at a price close thirteen cents pound. they
win prove rather disappointing considering their
paratively large capitalization.
Ray Consolidated this week sold s1SK. Chino
at S2l Miami SO and Inspiration at ss%. and i'm
each instance it noted that the market was COM
paratively free of bids in quantity OF course Chino
has had substantial advance already Ray looks to us
TO be one of the attractive of the prospective
producers. Miami holds its price best and this Is
probably due fact it will begin production i'm
January. although only in limited amount
There many investors who beginning to
aze that the poryhyry group going to the
copper market of the early enthusiasts prom
ised we do believe that this group of issues will
break sharply. but the contrary unmtstak-
able signs of efforts from certain directions liquid
ate whenever the market shows ability absorb in
quantity.
YUMA
The home office of the Yuma Copper company states:
THE diamond drill outht sent from Marquette. Michr
reached Vicksburg early i'm December and drilling
begun from the third level about Dec 10TH 1t is
pected that the drill will be able test, within
next two three months, the the large
body OF leached suphdes which the third level
opened. which ground. owing to its wetness
be reached by the shaft without much heavisy
ing equipment"
SUMMIT
w. a. Eaton President the Summit Copper COM
pany recently returned from visit to the property.
and states that shipments property will
probably begin month. likely that these
shipments will go to the Old Dominion smelter reg
ulary. He adds that the Pasquale vein has been
on the 400 level, and that the Summit vein
opened up in the shaft Drifting now in progress
the lower levels shipping grade is being
opened up The results of the development work to
date have been very satisfactory.
Summit formerly known as the Gibson prop
erty from which a large, tonnage of high grade
was shipped by the former owners. and they
oorted to have a considerable fortune as re-
suit of desultory mining operations. The Summit man.
agement however, is opening up the property in a
more business like manner and with the thought Of
making it property of greater permanence During
the the present development work, consid-
erable high grade is being and will
be shipped when production begins regularly at the
property
CACTUS
After recent visit to the Cactus property w. A.
Eaton who director of the company that while
results Of the exploration have disappointing
to date. the directors will probably have something
say considerable interest to shareholders early in
1911. Just what this will be, Mr. Eaton refused to
make known. He added that eminent engineer
agreed that the company had good to expect
to up profitable property and the whole
proposition handled in a manner as to leave
ground for criticism. There Is considerable crit-
cism offered for the the proposition handled
from market standpoint
BUTTE -BALLAKLAvA-
On motion of the Anaconda Copper Co.. the suit be
tween that company and Butte -Ballaklava post
poned until January 23. The announcement of the
further postponement litigation was taken to
that the attorneys of companies were in con-
sultation and hopes of being able to amcaIbly
adjust the existing difficulties satisfaction of all
concerned. However. since the visit to the Butte
Ballaklava property by DIR. Walter Harvey Weed
Butte Baakava directors more firmly con-
vinced than that their side litigation is the
most tenabe. They claim in following out sug-
gestons made by the noted mining expert, their opn-
ion concerning the right mine territory ques-
ton was corroDerated by Developments and that the
Anaconda management begins realize the futility
of their claims and stand ready now to agree to a
compromise.
Butte -BallalSlava is recognized a property of
great value. Its is small 1t has the apex
to several very rich veins in the the Butte
camp, and can mine these indefinitely. The company
Is making shipments the present time but is
connihg its efforts entirely opening up ground