The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-10-08
CURRENT GOSSIP OF THE CoPPERs

OF TdE COPPERS
these run high s2i6O per in gold will
silver values as high 1896. I'm addition to this
there samples taken showing considerable copper
several instances high values. Indicative
OF the npidity with which development work is beni
pursued attention might during
the month of August. 1915 feet of old workings
explored. I'm addition which development work
amounted 10 1909 feet a total Ca 249S7 feet.
CorJez was organized early I'm January, and had
approximately s3OOOoO0O in cash in its treasury from
the sale of stock. organization additional
property has been acquired all expenses have been
met ana ON October 81 the Company a balance
of $222O97.27
LAKE SUPERIOR & ARIZONA
Very little has been done with the Lake su-
perior & Arizona during the past few weeks Secre>
tary Petermann of this Company is now in New York.
and it is understood be there for the purpose OF
closing negotiations and arranging details
by the option on this property win be given the
Thompson Gum interests according the plan
lined in these letters time ago.
Thompson-Gunn people working considerable
force on the Silver Queen property which adoins
L. s. & A. and favorable developments likely at
any time.
lNsPIRATIoN-
Inspiration of the features of the curb mar
$500 share. There has been steady buying of this
issue and the accumulation is quite significant At this
writing ii looks though Inspiration would sell for
much higher prices. 1t all improbable that the
Company will shortly arrange financing pos
sibly by the issuance of stock. In event that
this is done, it is hardly likely would
be marketed for any less than $1,000 In order make
the stock attractive at that price would necessary
to further advance the selling price Inspiration
Developments at the property reported to be en-
tirey favorable Drilling well as actual mining work
Is under way. The Company has a small concentration
operating and is experimenting letting contracts
for it's permanent concentrator The test plant 90
handling about seventy five of ore daily
SUPERIOR PITTS. AND CALUMET ARIZONA
As the various details attendant the proposed
merger between Superior a Pittsburg and Calumet g.
Arizona provided for, becomes more obvious that
Superior Pittsburg is going very well in this
deal This is reflected in the selling price of Superior
" tlttsburg stock and accounts for its up to
$l4oo at which price 1t sold yesterday and which is
e highest figures 1t has attained for several months
IN our letter of october LIST that Dr. Walter
Douglas of the experts to examine the proper,
ties of Calumet 6 Arizona and Superior & Pittsburg
before the could be developed This was in
correct James Douglas instead Dr. Walter Douglas
was the expert together with Dr. Rchetta of Greene
c
to the identity of the third mining engineer who is to
examine the two properties
1t is understood that several Superior Pitts,
burg and Calumet Arizona are inclined to
consider Chemung Of the companies to be in,
Guided In the proposed merger The Chemung property
which lies in the Burrow district near Silver
CITY, New Mexico has been under development for sew
eai years and has opened large body of low grade
ere This ore is somewhat similar to that developed
In the Miami and Ray camps although slightly higher
in grade In addition there has direct sme
ing ore assayng as high per opened up For
the present practically ali operations Chemung
nave been discontinued probably because the Company
has exhausted its finances the directors are await
Ing developments with the proposed merger before VI
planning on any additional financing Chemung has no
shipping facilities. railroad about fifteen miles in "
length would have TO be built before property could
become producer Copper Queen control the
Burro Mountain property which adjoins the Chemung "
ana 1t was hoped some time ago the Copper Queen y
Of Phelps Dodge interests would arrange for this con- :,
struction work However yet nothing definite has br
been done along these lines. en-
II would be Idle to even guess what tho ,os,s 90 .h
consolidation OF Calumet Arizona Superior & Pitts. ~
ourg ana Chemung would be. Locally 1t is believed that M
superior fitsburg would go the organization Nj
'n basis of between four and five for one vbra ju
chemung would be given value of about ono ba,e tho
If SUPERIOR 6 pittsb,r ''''' "'''' 20
Xix