The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-08-20
CURRENT GOSSIP OF THE COPPERs


of 100000 to each the insurance companies
refusing to bind themselves for larger sum.
The judgment secured was for sl5ooooO of which
amount the n<urance company ready pay So
10000.
The company now has about 100000 cash in tho
bank but 1 is thought best to keep this money In
treasury purpose of paying taxes insurance
the plant watchman's expense etc, until conditions
improve sufficiently company resume opera
tions.
company owns it's property outright, in fee SIM
Pile and has debts other than the Judgment above
mentioned. Has nearly half OF its original treasury
stock still in its treasury Nearly all the inn
portant mines being opened in Butte are opposite
the Butte & London property, to the west Notably
the Elm orlu and Poser belonging Clark; the
Badger state, belonging to the Amalgamated Co.; the
Superior; the Butte & Balaklava and the
Tuolumne.
FREMONT
There considerable activity in Fremont yester-
day, the stock advancing mp to s4OO share with trad
ing quite brisk Fremont has outstanding but 10000
shares which makes possible wide fluctuations In the
stock The revival of interest yesterday was due to
developments the property. Information was OBJ
tanned the that strike of copper glance and
oxides had made so feet from the bottom of the
shaft the the lateral still in high
grade ore Freemont has a little 100
in for distance
Mr.. Hamilton OF the firm of Pritcheet & Hamilton is
reported advised the purchase OF the stock and
predicted much higher prices for It, The firm of Prt
cheet Hamilton the consulting engineers of the
Fremont and also connected with the Cactus.
sUPE RIoR & BOSTON,
In response inquiry concerning conditions at
the Superior Boston property director of the COM
ternoon:
Superior Boston never looked better In its history
There is absolutely nothing wrong with the property.
impatient shareholders dispose of their holdings,
that of is their business Our is to open
develop the mine and the the stock
ketwise is material consequence affecting the
existing conditions the property. We have worked
for little than three years now have fully paid
for property and equipped the McGaw shaft equal
TO amy in the camp When the amount of work we
have done in the period above mentioned is compared
with the time taken in the development
LAKE Superior district obvious shareholders
Superior every reason regard their
property with favor .a,,. .......l.l f.,,,fi a.
The McGaw shaft has reached a depth of SIS feet A
station will be stump preliminary to cross
cutting to the vein 1t is estimated that
1eo feet will be necessary before reached
its McGaw shaft close gallons water per min
This the was above the sixth level
Additional depth of 265 has attained and tho
flow has dropped to about gallons per minute. 1t
appears through the basin rapidly being drained
and il is the opinion competent mining experts that
drained these lime basins always remain. At
the Gardner shaft conditions remain about the same
Superior Boston Is shipping approximately fifty
tons of ore daily to the Old Dominion smeter. and is
working a force of ninety
The July production slightly $4,000
pounds of copper and 9,sla of silver.
SOUTH LAKE
South Lake was the feature of the market yes.
terday when it crossed IS. The buying due to the
announcement That No. 4 drill had a well mineral
lied vein believed to be the same which recently
encountered in drilling at hole No hole reach
ed the vein at depth of approximately 500 feet The
vein showed excellent copper and dipping to the north
bears very close resemblance the Lake lode No.
lode is situated about 315 southwest of No hole
and reached the vein a depth slightly less than
900 feet. Those who privileged to see the core
just taken loud in their praise prospects
for the future of South Lake.
SANTA RosALIA--
Further light obtained the Santa Rosaia diff
fcultes this week, and ascertaned at
this writing the chances strongly the control of
the property passing the present al.
rectorate Quite likely the local shareholders will be
given representation on the board but it
though there would be material changes made I'm the
list.
r. X. Clancy who has been general manager of Santa
Rosalia from its inception and who to be
at odds with the local directors this us the
following For the benefit of stockholders
and the public desire to that final payment on
the property by Santa Rosalia Gold Mines Co. will be
made in few days and that the present company will
be continued and every shareholder will be protected
Some changes will be necessary officers. but we will
endeavor to reach agreement that will generally
satisfactory and active operations the prop