The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-01-14

back" of 1000 feet To the surface.
The North Butte haye i'm their ground
several veins-the Spectator, Edith
May Miners Union, the Jessie, the
Gem. half interest i'm the Croesus,
the Berlin and Marguerite All of
these have not been opened and de-
veloped but the first four veins have all
been opened and have proved TO be
ore-bearing veins and carrying large
quantities of high grade ore i'm them.
The Jessie vein was cut at the 2,200-
iVot level over a month ago and shoA-
FL 80 feet OF ore at the point where
cut The drift on the Jessie vein
Slows good bodies of firss-class Gre
from three TO six feet i'm width.
The statement that has been made
that the North Butte is played out
sceems absurd to any person familiar
with Butte mines. The fact that they
have been working the North Butte
for little over three years and only
through one single shaft should con-
vince any one that they could not
have taken from all these various veins
the amount of are that was known 90
be there when they opened IT,
The adjoining properties are the
Anaconda, Neversweat, Granite Noun
tain and Berlin. The deepest shaft
on any of these properties, the Ana
conda. is down $500 feet, while the
North Butte is now but 1900 feet deep;
therefore ii is not reasonable to sup
pose that they could have mined all of
the ore in three years through one
smart while the Anaconda has lasted
for 2S years with all their numerous
shafts.
Moreover, there is no copper mine in
Butte that has been worked out. and
better ore may be expected to be en-
countered in the lower lovels of North
Butte as Anaconda found better ore
when they struck the 2,400 and $780,
foot levels.
Regarding the claim OF the Tuo-
lumne people. 1t is understood that II
is but a fraction of 200 feet on the last
of the Jessie vein that would be af-
fected, even II their claim was just.
Its effect on the price of the stock
would be of the slightest.
He further stated II do not believe
that the present price of the stock re-
presents its true value by any means
Not having been in the mine recently.
cannot say as to the quality of the
ore, but the last monthly report, as
published in the Boston newspapers,
gives the production, think, close to
100000 pounds and an average OF
about SO copper pounds to the ton,
which is within IL pounds to the ton
as high as the highest I'm the Bonanza
ore dips. If they have been able in
the last three years to pay dividends
OF $1.00 each quarter of legltimately
earned profits. with the price of cop
IA cents and prospects of 10 cents,
they certainly ought to be able to
| Offset any decrease i'm the value of the
ore, and il would seem that the stock
holders here in Boston are entitled 10
report from the directors"
The North Butte is considered one
of the very best mines in the district
and there is no reason to believe that
the property is any less valuable now
than year ago. The report has been
circulated and appeared in print sew
eral times that the management is
making an up-raise through the Gram
lite Mountain that would Increase the
hosting capacity and enable them to
raise double the amount of ore. If the
mine is played out, as rumored, what
reason have they for wasting money
ground that is without ore.-Financial
News.