The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-05-14
RAY CONSOLIDATED

Shareholders OF Ray Consolidated will be asked
vote May 25th proposition capital
zaton of the company from 100000 100000
shares. The additional capitalization will provide
the acquisition of the ella property There doubt
but that the merger Of the two companies will be
brought about the larger shareholders in both
panies favor the proposition.
President Aldrich of the Ray Consolidated in letter
to his shareholders. in part the following to say
1T has been apparent time that 1t would be
to the advantage OF your company acquire
ship of the properties ella Copper company
which adjon the properties your company. The
developments of orc bodies the properties have
been such to show conclusively they could be
mined much economically under one ownership
and proposed to utilize the 100000
shares of increased stock authorized at the special
stockholders meeting in acquiring capital stock of
the ella Copper company the basis Of one share
Of said increased of the stock of
the ella Copper company, there being 100000 shares
of the ella company Outstanding addition to the 5000
shares now owned by your company"
LIVE OAK
The second churn drill hole at the Live Oak proper
ty has Just passed into chalcocite depth of $50
feet which is 700 feet west of the shaft
Drift No. 2OS on the second level has passed through
IS feet which indicates average vertical
extent of the body is 175 feet churn drill is
being operated 800 feet further west of No. hole
INSPIRATION
Twelve working faces levels Of the Joe Bush
shaft in good grade Nearly all work is be-
ing done the tunnel level 127 feet above the 4th
level
A two compartment prospect shaft is being put down
the Colorado claim $500 feet west of the Joe Bush
shaft and 500 feet of the Taylor tunnel
I'll
Walter Fitch. president general manager of the
Chief Consolidated, in a communication to us,
states that developments at the property progress
ing in very satisfactory He adds that the
value Of the ground in the mine workings best be
understood by giving the earnings from the
veopment which occurred 1,4O0-
From this single lead" Fitch, "ship
ments of a little 5000 tons made which net
ted $4,000.
"a raise is going up from the 16OO-foot level to
meet with this and struck good grade 20 feet
above the level This looks though this may be the
from which have been mining at the 140O-
foot level. AS soon as this raise hoed to the
level product should rapidly increase"
"The winning amount of earnings in pract-
caly the first years be accepted by
hoders,as a demonstration of the wisdom of the
agements faith in the ground owned by thecompany.
II
realized that we are 1000 feet from nearest
workings Of the adjoining mines,
ground for a length of over 1000 feet Our workings
are all in virgin ground, that with the length
toned and with the levels undeveloped above be-
low the 14OOfoot level the opportunities ahead of
are better realized.
The shaft is down to the 1,sOO-foo level but
porarily stopped inability with
present facilities take work. We are
voting hosting facilities to the of
coming and in addition to caring for the raise and i'm
porant drifting required to open the levels
now in operation.
our hoist hope in operation in Aug
ast. when capacity will be increased over three
times. When this hoist is in operation. will then
engthen the shaft three compartments for its
full depth permit hosting two ton in balance
In concluding his statements, President Fitch adds
that he has perfect faith in the ultimate dividend pay
nent prospect of Chief and believes that there is
The slightest question that the property will devei
op fully UP to expectations
President Fitch is giving his entire attention exclu-
sively to the interests Chief Consolidated From
time to time the company has been adding its hold
ngs Recently it acquired Eureka prop
erty and expects to all the outstanding stock in
very short time Eureka being exchanged for Chief
basis of shares of Eureka for share of Chief
Eureka shareholders given until May 10th in which
% take advantage of the exchange proposition
CALUMET G. MONTANA
The recent activity in Calumet & Montana with a
advance in the price of the to
he very favorable developments in the tunnel work
icing done the mine.
Superintendent whitty this week wired the homo Of
Ice of the company the following message:
Montana end of tunnel in nine hundred and ninety
hree feet In very strong vein running parallel with
unnel showing inches wide assaying well in
old, silver and copper. Assays read follows: Gold
ory dollars forty cents; silver three ounces; copper
I've per cent Rest of the vein is mineral bearing but