The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-09-10
NATIONAL MINING g EXPLORATIONS


have tried in each shareholders have
rhown an apathetc feeling. unless Is
thing very shortly the property will the
creditors.
The company about a year ago borrowed s100,00000
and this becomes due Sept gath, 1t is
that some plan be carried through at looking to-
ward the raising of this money The directors recently
asked subscriptions bonds for this purpose, but
insufficient subscriptions received. Charles NJ.
Bruce, formerly president of the company IS now
with another plan whereby he hopes raise sOO,OOOOo
which will be used repay the money borrowed
year and this pressing obligation provid-
cd for other plan Of further financing will be
ranged
This week the crosscut the 77O-foot level
stringer of good showing principally oxides
ARIZONA COMMERCIAL
Our Globe correspondent advises us that Arizona-
Commercial is reported have discovered of
mercia grade in its third churn drill hole This drill
was up the 7OO-foot level down 200
feet The management refuses to make any statement
concerning this development although believed al
the property that the disclosure is of the
portant made in months much to the value of
the mine. In all churn drilling Ariz-
ona-Commercial, has been encountered. The man.
agement will probably sink its Eureka shaft
hundred feet deeper and then undertake policy which
will block out considerable reserves Not until
this is done is it likely that Arizona Commercial will
resume shipments to its smelter
HANCOCK
The continued strength in Hancock is due to several
reasons the most important which the fact that
No. shaft is rapidly approaching the Hancock main
lode. This vein will probably be cut within the next
month or two, and while the quincy Pewabic vein
is the objective point of this shaft still any
terially to the value of the Hancock property
M No. shaft is little more than $500 feet deep
ana win reach the Pewabc at a depth of approx
natoly 1900 The is going down at the rate
of rs feet per month At No 1 shaft the Wine going
down the No lode continues to open the vein
showing very desirable grade of stamp rock with con-
siderable mass.
The surface equipment being Installed at No. shaft
VIII give plant second to in the Lake Superior
district The shaft and rock house rapidly nearing
completion. Some delay was experienced in getting
permanent machinery further trouble is expect
ed from this source.
Another reason for the strength of Hancock Is the
fact that The amount of stock hoated is very limited
Large blocks held by private interests for invest
ment and irrespective of any advance in the price OF
the stock, mono of these blocks will find their wav ON
The market on any slight reaction, we believe Han.
peror district
BUTTE BALLAkLAvA--
The preliminary hearing in the injunction proceedings
against Butte Baakava Instituted by the Anaconda
= Copper Co has been set for Sept 18TH Pending this
ufne' but very little work Is being the Butte
ballakiava property small force is doing some de-
Nelopmeht WORK on veins which not under litiga
No' NO ore can be extracted from the territory in
VOWED In the legal difficulties, and it appears as
though the Anaconda company proposed to wage bit
ter fight to uphold its contention that the Butte Dala
klava Co. has pcen mining from veins which apex
on Anaconda territory Baakava directors are firmly
convinced that they have justified in all work done
and that when this present suit heard their views
on the subject win be corroborated by the decision he
ms handed down in their favor
Inasmuch as the company is making no sbipments .,
ore at the present time, the question has been raised
whether not it will continue quarterly dividends Tho
company has fair treasury balance which might be
used Tor this purpose although conservative action
would be to pass the dividend the present ltga
ton Is an end
SUPERIOR COPPER
FURTHER strength and activity Superior Copper this
week was due probably to the expected favorable r
suits from August milling. We understand that DIR
ing the past month"; Superior shipped very close 70 .5o
tons OF rock per day to the Atlantic Mill and as a re-
suit us product was the highest for the year. In adj
oitoh IL Is getting considerable mass and barrel con-
per- The report Is very persistent that the comnonv
mas encountered the Baltic lode at No shaft but as
ye' uis heks corporation An occasional seam or
pocket has been opened of little
"''housh inc management is confident of eventually
opening up the vein in this shaft and should IL prove.
as satisfactory as at No. 81. will materially enhance
the value of superiors property
GREENE cANANeA-.
Inc pohcy of curtalment has been adopted by the |
'reehe-c ananea management and the production for