The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-05-21


site. No. Z hole Is bottomed OF about
2,175 feet and has recently been pass
ing through mottled traprock
New York, May 2l.-The strength of
the market yesterday increased the
cheerful feeling which has gradually
bles received this morning forecast the
announcement OF more bond sales
abroad. The rumor is persistent that
steel rs to be listed i'm Paris. A good
bank statement is expected today as
forecasts estimate gain of about So
100000 by the banks. Crop reports
seem to be favorable. The one Earring
note this morning is the report of an
increase of $4,000 I'm the surplus of idle
freight cars. bringing the total up to
127. 900 which is the highest figure since
last August. Bull tips are still being
freely circulated on Reading. the /. b.
stocks, -. II. II. and on Gas. There is
also story that next week Steel and
the Hill stocks may become very ac-
tive. Personally, | believe that the
safest stocks to buy on the weak spots
are Reading and Cons. Gas. There
are undoubtedly melons coming in both
of these stocks and their activity i'm
the market is something more than
manipulative. | expect to see some
what easier rates for money next week
and considerably more activity i'm the
stock market with a tendency toward
rising prices.-J. w. Prentiss.
Globe, Ariz, May 20.-The addition
to the boiler house just completed at
the Superior and Boston mine. marks
the end OF all construction work at the
company's plant which is one of the
most modern and complete i'm Globe
district.
Sinking of the McGaw shaft has
reached a point 11S feet below the
sixth level. At a depth of liz feet be
low the sixth. station sets have been
put i'm, preparatory to cutting a sta
ton and establishing the seventh leve
at "a later date. Meanwhile. tho sink
ing of the McGaw will he continued
indefinitely.
At the Gardner shaft the greater
vertical extent of the ore body is be
ing proven by work i'm the two wines
put down from the 400 foot level. The
west winze from the fourth level drift
has been sunk continuously through
ore for is feet At this winze a small
hoist is i'm operation. The bottom o
the east winze is as feet below thu
level and here also, an excellent grad
o fore has been developed. The cope
feet and the drifting has shown tina
the ore between them is continuou
The high iron co tent of the ore make
it a much better fuxing material thai
that now being mined in the slopes ol
the Great Eastern vein lin the north
ern part of the property. About o
tons of ore from the Great Easter
lode are being shipped every day L
the Old Dominion smelter and tn
smelter returns show an average of
per cent copper.
Some ore for shipment is also bein
obtained from the tunnel being drive
on the Black Oxide vein directly owe
the fourth level drift of the Gardne
; workings, where lessees now at wor
are extracting ore carrying per cen
coppe..
AS the rails of the Arizona Easter
railway have ben laid to within l5O
feet of the McGaw shaft, the Superio
e. Boston mine will soon have great
increased transportation facilities. TIL
grading for this railroad has bee
completed as far as the Eureka shat
,, of the Arizona Commercial.-New
, Bureau.