The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-03-12
CURRENT GOSSIP OF THE COPPERs
THE STOCK MARKET
j. A. Minnear' q Go.

Extreme weakness characterized the trading in the
markets yesterday and while higher prices ruled
earlier in the week. the yesterday almost wiped
out the gains for the preceding few days Closing
prices about the lowest for day. The drastic
decline attributed to the report the Supreme
Court would hand down unfavorabe decision Mon
day In the Tobacco Trust There is possibility
lof this decision being made known Monday, but from
excellent learn that II is likely that
the court will not make any announcement the
subject for several weeks.
| In any event the action OF the market yesterday
served best to Indicate just what be expect II
in the event that the decision is unfavorable
1t is well to be prepared for the when it does
come and pick up some stocks cheap the break.
Copper stocks weak since Thursday when the
Copper Producers association announced an Increase
in the surplus for February operations in the
an expected decrease Apparently the Producers
ISOLATION is not to be relied upon too implicitly fer
its figures reports OF copper sales during Fcbru-
airy precuded the possibility of any increased Irpus
as was announced We advise friends to take the
conservative stand for the present until stu on
at this writing quite tense becomes less strained
METAL MARKET
| The monthly statement issued Thursday by the
pontment 1t showed increase in the surplus stock
of approximately S75O0OO pounds when decrease OF
about 100000 pounds expected. The production
for February 112712oOO pounds Domestic deli
very totaled 666l30OO pounds while exports only
reached S7S70oo0 pounds making the delivery
the month 1O4,OOO,O0O pounds. The stock of copper
on hand, according to the Producers figures on
March list, 1O71SS,OOO pounds
In view Of the curtaiment in the Butte camp 1t
was generally expected February production would
show material decline and would contribute largely
to the decrease of the surplus stock which was ex-
pected. The Butte Camp reported a production of a
little more than 100000 pounds during February
about one half of its normal output Exports for the
month were very low, comparatively speaking, and
the lack of foreign buying responsible in great
measure for the increased surplus
Sales of Lake copper were reported during the week
at IA cents, while electroytic copper sold at 1sX
cents. The demand for the red metal is reported to
be excellent although the buying was of an ag-
gressive nature
MASS
At the annual meeting of the stockholders of the
Mass held Thursday in Boston. the resignation of
General Manager James Wilcox was accepted. A
change in the directorate made and additions
to the board include several prominent Boston mining
men. 1t decided to call assessment of 80 per
share Mass stock the money to be used in more
vigorously developing the property The assessment
will be payable April s.
General Manager Wilcox was in favor of suspendins
operations at the old mine and centering all
on the lodes The controlling interests favored
sinking deeper in the old shafts in addition carry
ing on the exploratory campaign No announcement
made to the of Capt Wilcox.
COLUMBUS CONSOLIDATED
Directors of the Columbus Consolidated yesterday
declared an assessment of twenty live cents per
payable April IL. Delinquent stock will be sold for
the assessment on May IL. The additional funds
required to continue operations at the property pend
ing Improvement in metal prices. Considerable
criticism of the Columbus management has been heari
and only recently control of South Columbus was
wrcsted from the Columbus interests.
AND ARIZONA
Bisbee reports that Wolverine and Arizona has en-.
countcred in the incline shaft from the Higgins
tunnel. The company is shipping the rate of thres
carloads of weekly the Copper Queen shelter.
The company has funds sufficient for It's present
needs
oJIBwAY-
Sinking at both No and No. shaft of the Glib
way will be under way once more this month. fact
this work at No. shaft has already been started The
proposes to sink at least levels
bringing the shafts to depth 1850 feet The new
'ompress is being installed and will be ready for use
probably next week. Drifting from No. 1 shaft at the
100 and $50 levels is under and is opening up
good rock particularly at the $50 level stock pile
$ being prepared in the event that shipments for A
est are determined on during the summer.
oNEco-
No hole at the Oneco is 700 feet and as
ret has not encountered the lode It thought that
he vein would be reached around feet. No
ole is close to 400 feet in depth and will reach the
'neoo vein at depth of approximately feet Some
cws from this hole be looked within the next
EN- days.
A SALE