The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-02-19
CURRENT GOSSIP OF THE CoPPERs
j. A. Minnear & Co.

the sale stock. 1t appears quite ,iL,
Elm River stock will be advanced in order 70 nab
probable new issue more attractive and so that II CO.,
be put out at higher figure than ruling quotations
cENTE NNIAL-
To the south and tributary to No shaft NJ A..
Centennial the lower levels opening up better roo
This will manifest itself in higher mineral return ,
the stampmn stopping is begun in this 20.
rory The cessation of stopping at the centenna, No..
responsible for the reduction of the working force ,
thirty per few weeks ago This step was ,a,ou
a similar that which Influenced like ao,i
the Isle Royale several months ago. Centennial m
close of It's last fiscal year according to its anp
report had indebtedness of to 100000 up,u
copper advances in price is hardly expected that anu
effort will be made to increase the production from
this property. At the present time, we are given T.,
understand. the company is producing sufficient IN nav
all operating and other expenses, which contribute IN
production COSTS =,
QUINCY
one of the most reassurng pieces of news ont FIR
the week on the copper market the announcements
by the Quincy directors of dividend per share
This announced at 81 regular and fifty cents extr
dividend. The increase came somewhat unexpectedly
although Quincy has been making an excellent record
during the few months, both in it's increased out
put well consequent lower production costs
The increase in the Quincy dividend of fifty cents
per share makes it the second investment issue
Superior district as far as dividend returns
concerned. 1t is second alone osceoa which il
paying dividends the s12 per share per an
The record Quincy made last year in the absence OF
official figures is generally conceded the
best for years past. It's output above 90
100000 pounds and produced at a approx
mately 9s cents per pound Quincy has outstanding
10000 shares of stock
OScEoLA-
No stock in the Lake Superior district is giving a
greater percentage the investment present quota
tons than is osceoa. Paying Sc semi annually the
company is in position only maintain this rate
of disbursements but also to do materially
any Improvement in metal quotations.
Osceola is far different proposition today than IL
was two or three years ago. II is easily earning sl2
per share on the stock outstanding approximately
$4,000 shares. In addition prospects point strongly
to the company getting 3OOOOOOO pounds of
the rcd metal during the present year This will be
made Icable largely through production from the
No. shaft of the Kearsarge branch 1t Is reported
that new shaft may be sunk the Kearsarse lode
Tie old Csceoa property but this as yet lacks confr1a
ton. Around present prices appears to us to
be the most attractive investment issue in the Lake
Superior district.
NORTH BUTTE 'i
The directors of North Butte are scheduled to meet
in Duluth Feb. 2S act on the quarterly dividend 1t
is generally accepted dividend will be haveI It
least. There has been talk passing of the
dividend entirely but this is hardly likely present
labor difficulties i'm the Butte camp will be further in
huence toward the dividend reduction, .inasmuc.
it further decreased North Buttes production. Unques
tionaby North Butte's affairs shaped months
past with the view of demoralizine the market and
to cap the climax will come the dividend cut. Many
have asked disposition they should take with
they hold, and which was bought at much higher fig
ures The only stand to take in this mater is to sit
tight, if possible There is but that If gven
chance North Butte will sell again for as much
it has done in the past. may mean a wait
several years, but believe that the long pa
thence will be fully rewarded. should distinctly
understood that harmony reign supreme the
directorate, and that effort will be made keen
the dividend rate unchanged, success of this
effort is probematical
MANGAS DEVELOPMENT
One of the most active issues during the week on
the curb was Mangas Development stock. This re-
newed interest due primarily the important de-
veopments at the mine recent date together with
the likelihood of further news being received
very soon Development work at the present time IS
being done with churn drills. one hole has already
shown the cxistance of the property Another
hole Is now being bored which will undoubtedly dis
close continuation of commercial in short time.
Mangas has well located property between the
Burro Mountain and Chemung mines in Silver CITY,
N. M Practically ground totals The
company has outstanding $4,000 shares of in ad
dlton to which $4,000 shares OF full paid stock
wiVen TO the original property 1t is develop
ment company and as soon as more extensive develop
ment work is done a reorganization into a mining