The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-06-11

IL appears as though the Company has now passed
through its darkest period. and that in the future MT
better results can be expected.
In recent letter to shareholders Tony I,eohsa.
General Manager of the Company has the fouo,.1
to say
Regarding the property would like to saw tina, ~
ditons are improving gradually in fact conditions ara
better now than they have been for some time We 49,
running the mill three eight shifts and so far ,h
month have produced average of 20 tons or ~
centrates day, which will net the COMPANY bot,o.
than $4,000 per ton after freight assaynr and smell,
charges have been deducted. This more than nave m
running expenses and gives the Company some nroa,
and If we continue this production, as 1t seems wo v,
the Company will make good showing during the hal
of the year.
We are extracting this ore principally from our Aoo
foot level and of late our developments have all been
in virgin ground and territory. We have also to,
out considerable first class in this Development
and are i'm hopes OF catching the intersection Of h
contact and assure within the 40 or so feet
AT this intersection the should swell out ana mako
a large body wrich would be the means of n,cin
the mine at its old standing.
l would advise stockholders buy at these low nric
if strike something Gas 1t seems we wilD The
stock will advance rapidly and it give those who
paid high price for their stocks to average
their holdings. Present conditions very encour
aging and indications are that we will again have as
large body the mine has ever produced"
HANCOCK
Sinking shaft continues and the Hancock lode
will be encountered in comparatively short time The
management is not laying any great hopes for the
veopment of this vein, but Judging from the
the lode where opened at No. shaft it would prove
very valuable asset this company.
The Pewabc lode is the objective point of No. shaft
sinking will continue until the vein intersected
large force of is being employed er-
ecting the steel shaft and
it expected this will completed about
month. This rock house will be the largest the
Lake district and will contain two bins each with
capacity for holding $500 tons of rock
The cement foundations being laid for the new
hosts, which will probably be installed during the
The air compressor is already being put in
place and the large boilers also being installed In
addition, Company is doing considerable grading
No. shaft preparatory laying the necessary
tracks. When all this work will have been completed,
No. shaft and its equipment will be by far the most
modern in the Lake Superior district.
While there is no official confirmation of
ton 1t is generally Hancock will
rock shipments early in the coming fall. Plans
being considered for the stamp mill the site of
which purchased year ago.
cHERoKEE:-
No. drill hole at the Cherokee has been abandoned
and a new hole started. This change being necessat-
ed by quicksand No hole is down 500 feet and
according late reports penetrating trap. This
drill several amygdaloid lodes, being 80 feet
wide but in has copper of commercial quality
been disclosed Cherokee will probably be PROPOSE
ton very much similar winona and King Phillip.
SUPERIOR AND GLOBE
The crosscut north the 65O-foot level of the
Superior & Globe shaft this week encountered vein
which showed copper stains the footwal side with
considerable and specls native silver owing to
the absence of Superintendent Smell who is in Caifon-
ia further details of the strike unobtanabie at the
homo office.
1t is quite possible that the vein just encountered viii
carry little copper apparently insufficient depth
has been attained AS yet important developments
have taken place in the Wine which is being sunk from
the 65ofoot level although of favorable char
acter may be expected any time.
ISLE RoYALE:-
Isle Royale has abandoned all exploratory work on
surface in the horizon the Baltic lode The recent
discovery in trenchng has not been followed up but
is likely that lateral work from shaft "a will be ex-
tended to the point where trenching done The
discovery of what is believed be the Baltic lode was
attended with considerable speculative interest but 1t Is
sun 100 early to make any positive statement us W ~
naturalization In the veln positively identity H.
1t will take several months positively determine
the value of this strike and consequence, the price
OF the stock has eased off considerably.
Isle Royae will bear watching, however and In the
event that has discovered the Baltic lode showing
satisfactory naturalization, the stock will undoubtedly
sell much higher
EAST BUTTE:-
annual report of East Butte Copper Co. was Is
sued this week. and, the whole 1t is fairly sansao
tory document The financial statement shows surplus
on operations of sSO.4790O.
President Gross has the following to say In prel"s
the financial statement and managers report
During the six months from october 1st lso' "