The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-09-03
Continued from page two

III
increasing the output Ahmeck. At present time
the company Is keeping two heads at It's new mill
| pounding regularly
COPPER RANGE-Drectors Of Copper Range have
declared regular quarterly dividend OF 81 per share
payable oct TO shareholders of record Sept 6 This
dividend was the same declared for time
was generally expected by shareholders of the COM
pany.
1t is believed that the present price OF copper max
ing it possible Copper Range approximately earn
its dividend requirements None subsidiary COM
panes OF Copper Range being pushed in produce
tien and as the shows sur
hcient Improvement the output will be increased Tri-
mountain. which has been the weakling trinity
OF mines controlled by Copper Range. is said to be
showing a gradual IMPROVEMENT and in due
course of time will be able add to the earnings OF
Copper Range Cons.
CALUMET HEclA-Drectors the Calumet &
Hecla this week declared quarterly dividend of 81
share payable Sept 2S shareholders of record
Aug. 81. This is the that paid three
months and 81 less than paid year ago. The
dition the precluded the possibility of
any increase in the dividend for the quarter
1t will take at least weeks more before the Red
Jacket shaft will be ready for again. Tie re-
pairs necessary this shaft necessary to
curta production and this gave rumor that
the Calumet & Hecia laying o a considerable
force at its stampmls However this is untrue and
while the rock shipments at the present time low
or than they month ago. the company can
maintain its regular copper output by smelling some
of the mineral it has in reserve which for some
months past has amounted to seven per cent
Of each months output
ToNoPAH eELMoNT-Tonopah Belmont directors
this week the resumption dividend pay
fixed the disbursements fifteen cents per
sha will
reports from the property for the past six months
have been very gratifying been generally ex-
pected that the directors would put the property on a
dividend paying basis any time The company is
earning in excess of dividend requirements.
SUPERIOR GloeE-Drilling the Superior &
Globe property continues with results of indifferent
nature to date The management is confident this
class of work will develop give data for min
ing operations at much less possible in any
other manner In order its RESOURCES all
possible expenses being eliminated. Superior &
Globe has funds sufficient it's treasury to easily con-
tnue operations for the of the year at the
present
oJI5WAY-ojibway is rapidly accommodating a stock
pile which showing up property have excellent
possibilities While the management has no plans I'm
view for making any mill in the immediate flu
ture yet it is possible that be made
long for regular shipments one of the stamp
mills in this district where a head is available for GUS
tom work 1t is likely, however that this plan
will be put into operation this year.
Al the time ojbway working nine drills in
sinking and lateral work. No shaft is down 1,525
feet and win continued 1850 feet at least be-
fore lateral work is undertaken crosscut to the
lode was cut at the 14OO level the management is
anxious attain greater depth at the shaft to deter
mine what may be expected deep mining at the
Ojibway. Drifting north from al the 500
foot level is also under way and is being attended
very satisfactory results.
No. shaft of the ojibway is bottomed just below
the 1850 level crosscut at this point to the lode
was completed this week and the shows a very
healthy condition with commercial copper in evidence
Drifting both north and south is under way at this
shaft at the 500. $50 levels particularly in
the 500 level Is the rock showing well mneralized
A call of 81 per will be due on Ojibway stock
oct. 1. 1t is believed will finance ojibway
well into 1911 However in the that the direc,
tors find it advisable take up question of build
ing stanpmil for Ojibway a further will be nec>
essary the amount depending the size a plant
to be erected 1t is safe to estimate that the
mill will be approximately 100000 per head so that
mill of three heads would require a call of SO per
share the companys stock, which would be eagerly
paid by shareholders who would regard the call as
certain evidence the value of their property
SOUTH CoLUMBus-Opposton has arisen to the
proposed consolidation between the South Columbus and
Alta Heca properties, outline of which was given
in our letter week w. L. Mas. acting for large
Interests of South Columbus, has a circular
letter calling attention what CLAIMS be inc
qualities of the proposed This circular reads
follows:
You have no doubt received a communication from
the Secretary of the South Columbus Consolidated Min
ing Company on an equal basis forming new company
asking your corporation i'm a plan consolidate the
SCUM Columbus and the Alta-Hecla Mining Company
equal basis, forming a new company Of
five hundred thousand (5OOo00) shares of which one
hundred thousand 200 shares III.