The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-11-05

I
SHELTERS Railway 4 Copper company
has been organized as a holding com
pany for the Penn Wyoming and the
North American.
Kendall-This Montana property has
declared a dividend OF two cents per
share, the same as three months ago.
Porcupine Gold District-The popu-
lation is estimated at 1000. An cleo
trio trolly line is expected TO oper-
ate into the camp by next July. Grad
ing is now under way The nearest
railway station is Kelso a distance Of
% miles. and there are six teaming
| companies engaged i'm hauling freight
Four mills are now under construction
To treat the ore of the camp.
Nevada Wonder Steps are being
taken to issue 100000 5-year first
mortgage per cent semi-annual
bonds, and 100000 of treasury stock
has been set aside for the purpose OF
retiring them on maturity. These
bonds are to finance the payment OF a
100000 loan which fell due October
/. and TO continue development and
equipment. An electric hoist is now
being delivered at the property. The
the 100000 shares set aside for retir-
ing the bonds will make total OF
l.396.O00 outstanding.
Tennessee Copper Goa ten year
contract has been signed with the
american 5. & r. Co, for selling the
copper output The production in the
past has been sold through the United
Metals Selling company. The largest
production was in 1907 when 14,464,5s5
pounds OF copper was made.
Corbin-It is reported that a good
showing Of Galena and copper has been
encountered in the Kathleen tunnel
President $. r. Dow of Boston and
General Manager Il. NJ. Edwards of
Houghton will reach the property this
week.
nspiration-Three churn drills are
operating on the property, being To-
Gated in the western central portion.
All are in ore.
Arizona Commercially 4 diamond |
drill hole has cut a second deposit of
copper 16 feet wide which shows an
q a a
and 9.22 ounces silver per ton. The
core at this point showed i'm addition
to this 16 feet 40 feet more of vein
matter which is of lower grade and |
has not yet been assayed.
Homestake-The heaviest portion of
the Hydro-electr power plant in
Spearfish canyon has been finished. A
series of tunnels has been driven cost
ing 100000.
Butte Coalition-The quarterly divi- |
dend OF 25 cents per share is payable |
December / TO stock of record No
Vcmber II.
Ray Central-Accompan the |
notice from the General Development |
that the latters option on
the remaining $1.900.00O of convertible |
bonds was being relinquished. the Lee
wisohn members of the board of di-
rcctors sent i'm their resignation.
Goldheld Consolidated-There Is an
report. that a seven foot
vein has been cut on the 1000 foot
level which will run 1925 a ton.
Copper Range Con.-The Champion
Copper company has declared divl-
dend of $1.OO per share. this being the
sixth $10O dividend during 1910. one
half of this goes to Copper Range
Consolidated and one half to st. Mary's
Mineral Land company
Valdez Turns to Gold--The copper
excitement which has been such n
stimulus to Valdez for sometime. and
Is largely responsible for it's recent
prosperity has now given way to a
gold fever and every one is prospect
ing for previous metal Valdez is IL
years old and has n population of 1900.
II Is the seaport TERMINUS of the trail
to Fairbanks and the headquarters of
the Alaskan road commission, whose
early pay roll Is $4,000.
New York, Nov Clearing house
banks average, cash reserve 25.44 per
cent;
Reserve decreased, 5.565.275;
Less u. s. decreased, 5.541.275;
Loans increased. S32. 400:
Legal Tender decreased, 744.200;
Specie der, 5,597500;
Deposit dec. 4,7O6.500;
Circulation Inc, $1,000
Actual cash reserve. 25.52 per cent.
Scneca's drifts at the 20-foot level.
particularly the one To the south are
very satisfactory. The disclosure OF
good copper ground where the cross
cut from the shaft passed through the
lode has been Improving southwark
and the drift. which Is now in over 20
feet in that direction is faced In ex-
Il