The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-02-05

commencement OF ore shipments, should show
teriai advance from present quotations
CHIEF CONSOLIDATED
The buying Chief during the past wees ~.
has been of a persistent character. Developments -
the mine progress favorably and shipments Of .oro
being made with regularity. Already the Con,,
doing better than pay its development costs ana j.
building up surplus account. There is already to,
of a dividend being declared stock at the ro,,
of five cents quarterly that $500 per share th
stock would be selling 10 per cent. basis If,
quite possible that dividend disbursements win com.
before the close of the present year.
NORTH BUTTE
The feature of the copper share market for ha
the further liquidation In North Butte IN.
price breaking low $50 per share. Weak ae
counts contributed to the decline Unquestonablv tho
drop in North Butte due to further manipulation
by the interests who have been the sellers ever
since the stock broke below SIS. 1t is difficult to say
just when the selling vii. end but apparently it has m
yet its
North Butte directors will the dividend from 81
fifty when the directors this month
is this alone which has been used to break IN,
price of the stock.
In Houghton County there is held approximately
$4,000 shares of North Butte. In the event of North
being taken into the copper merger practically
of this stock will be pledged support the deal
Those who vitality interested in the company. a..
fairs regard the decline as a crying shame a deal
perpetrated entirely out the small holders.
The opportunity is presented those who are
in position to know positively the conditions at the
mine make authoritative statement on the sub.
ject, clearing up the situation entirely and giving tho
shareholders who have yet been frozen out an
idea of just where they stand. To the who makes
uch "A mn credit will
it may mean quite personal sacrifice in the long
run it will prove the right pursue As far
the bulk of the local North holdings is con-
cened it is largely personal affair.
We have been given understand that in the event
of an effort being made to put North Butte into
merger on unfavorable terms determined stand viii
be made against this and it will be found
recors and officers will not be of unanimous opinion
on the subject We also get it from authoritative
source that North Butte is far from worked out
mine, in fact is looking good as ever before
With these facts considered future developments viii
be watched with than passing interest
CALUMET AND ARIZONA
This issue has been rather fevcrish during the week
because of the continued weakness in North Butte
Holders have feared similar movement in c. \.
stock, and realize that stock is open to
just such an attack brought down North over
Physical conditions at the property
Is nothing disqueting circulated about North
Butte persistenty. AS we have before mentioned
director of the company in a conversation with the
writer stated that the property looked better
its history
Calumet and Arizona has surplus of approx
matey s35OOOOO, or equivalent $3.50 per share
its treasury. The dividend meeting which is likely to
be postponed for week. will be held this month when
the disbursement will be found be the same three
months ago, or 81 share. The report that there
VIII be an increase to $3.50 is without foundation.
At the Irish Mag shaft difficulties have been
encountered from time to time because the slipping,
but this has never been grave matter. At the Oliver
smart rch suphdes are being opened up in the lower
levels 1t is understood that shipments have begun
from the CORTLAND property and will be continued in
definitely This property will more than rcpav the conf
pary for all money expended uron it, We can repeat
upon authority that in the of the successful con-
sumation Of the proposed copper merger Calumet aud
Arizona will not be included
SUPERIOR AND PITTssuRe-
sinking in the Briggs shaft OF the Superior and Pitts
purg has been resumed The is now comparative
~ dry and with additional depth promises to develop
rch ore Superior and Pittsburg has now almost
~ hquidated its Indebtedness with a continuance
" ''oia'le metal market shareholders may posSi'N
receive dividend the close of the year
HANCOCK CONSOLIDATED
Sinking the big No shaft continues and be.
iore another month will have passed No west lode
viii be cut This vein when developed at No. 1 shalt
showed stretches of good ground, but criftlne on
was abandoned when No. 3 lode was discovered ana
proved so much richer 1t is quite possible with the
additional depth attained No. shaft the No vein
VIII show more uniform enrichment give Hancock
TWO veins to work on in the beside Pewabic
lode which is the objective point that No. shaft is
seeking.
because OF the probable developments the near fu-