The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-10-08
Continued from page three.


has varied considerably in the past IL is impossihe 10
state just when the the 7th level will reach
the lode Another month should the eth level omen.
ing up the vein ana il the enrichment continues as in
the above levels there promises be extreme activ y
in the stock
The new management of the Lake has adopted ox-
tremey conservative tactics and but little
is given out 1t vas thought that shipments would DO
resumed some time ago but apparently plan Is
in prospect for the immediate future When Ia!e re-
sumes rock shipments win probably be TO the rr,-
mountain stamp min.
ISLE RoYALE-
isle Royale is planning the resumption of sinking
at No shaft where operations for the past year were
confined to drifting to conserve It's re.
Isle Royale has been doing but little deveon
ment work with the exception of exploring for tho
Haltic vein at shaft "A" Shafts T. and 6 are com,
paratively shallow in depth although all of them have
opened up fair grade of rock. At No. shaft which
mas contributed by far the bulk of the
stamp m' some good ground is being opened below
the 18th level AS can now be estimated Isle
Royae is doing little bit better than breaking even on
l2s cent metal market Considerable interest con-
tinues to be attached to exploratory SHAFT "A
but it is not likely that important news from this point
will be forthcoming for another month.
ELM RIVER
President Fay Of River has issued a circular
to shareholders, inviting to exchange their pres
ent holdings for stock in the Contact company accord
ing 10 the offer made last June The exchapgs limit
has been extended to oct 18th TIC circular contains
rather Interesting Information reads as follows:
Under the terms of the circuir June 80, 19i5
sufficient amount of Elm River Copper company
stock has already been exchanged for Copper
company shares tss of the Plan at
4 bfc ~,
stock is owned by not received mott
of this offer exchange the reason that their stock
is not in their names and in thar such may
have an opportunity to make this exchange the time
limit has been extended to October Is, 1910
BY the terms of the circular above referred to the
stockholders of the Elm River Copl company were
offered an opportunity to exchange their shares
equal number of shares Of the Contact Copper company
on conditions that they subscribe, So share
additional shares to the of so per their
holdings AS iustration-the owner of 100 shares
of Elm River Copper company stock will receive $50
shares of Contact Copper upon the
Of his Elm River shares and the payment of 500!
In order to avoid the confusion incident to adjusting
half shares stockholders presenting number
shares exchange subscribe for their additions
al so the basis of the lowest even num-
Der of shares As ap lustraton-a holder of 25 shares
IF Elm River stock may exchange the same share for
share, but viii subscribe for only IL shares additional
It 81 share and will receive 81 shares of Contact
copper company surrender of his Elm River 81
shares and the payment of s24. 81
Owners of Elm River stock may therefore present /
heir certificates before October 49, 1910 TO the
american Trust company State street Boston, en-, /
orsed i'm blank, together with remittance
# the American Trust company cover payment for
additional shares in accordance with the outlined
bove.
The work Of diamond drilling these been I'm
rogress since early this summer and we are at pres
mt sinking No. hole. The first and second holes
ave demonstrated the correctness of theory
he contact between the sandstone trap range
'oud be found these lands. passed into
he Eastern sandstone"
VORTEX
The report of operations at the Corez the period
nding September Sd showed that the Company was
Employing average of 212 men in surface and under.
round work. Developments have been very In.
erestng and important and indicate that the Cortez
company owns group of mines. which great
disabilities with future developments. yet none
these mines have been opened up TO any consider
BILE depth, hut far work progressed indica,
ons point strongly attending efforts to
evelop profitable mine Samples at the various
roperes receiving attention have been TAKEN and