The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-09-24

in the economic situation
wall reported by its speech through
the tape unable discover solution Of the difficult
questions before the commission Trade in all its lines
continues either reactionary the metal
market being especially unresponsive to reduction of
output We shall see undoubtedly, the same thing in
steel and where we prices it will not at pres
ent create any new busness.-N j. Miller Of Miller &
Co.
BOSTON, SEPT. 20.
The most important item the week the reduc-
ton in the asking price from 10 to 12% cents by Calu-
met and Hecla at which price understand business
Of small promotions was done 1t is unmportant how
ever as being merely the reflection of general saeknes'
in trade conditions.
Domestic buying has standstil but the fact Is
true that the consumers have stocks to bring into
the market again On all depressions foreign buyers
have been in the market and have taken all the cheap
copper IS usual
ON anything like normal consumption and demand for
copper there would sharp upurn in prices but OF
course in times like the present it is idle to look Tor
anything one way the other.
All news leads to the conclusions that once having
taken the bit their teeth the producers are doing
much more than they promised to in the matter of
strction evident that the more they do IN the
curtaiment line the sooner should have a betered
should further progress made in the euraiimeht
of surplus-J II. Cody of n. j. Miller CO.
sHATTUcK ARIZONA COPPER COMPANY
The directors of the Shattuck Copper Co. met this
week and declared second quarterly dividend OF oo
a share payable stockholders october 2Oth OF rec
ord october The company recently issued It's an
nual report showed the total receipts from ore
shipments beginning May /, 1909 until July 81 1910
with interest amounted to s15eo467OO. The mining
ana other costs amounted TO $SO26S4OO, leaving net
profit of slightly better than $500 snare
The net surplus as July S1s shown by the balance
shoot was s3o7 214OO 1t is difficult conceive how
hattuck will be continue disbursements OF Sloo
every three months unless ore shipments increased
or the price copper advances President Bardon mas
the following to say to developments at the
property:
"Mr. L. c. shattuck, our largest stakeholder ana
nr,ctical mining man of long varied experience who
s M the head of our property. has been pushing de-
veopment work vigorously during the past year. ana
only shipping from the mine to the shel'e'
as he encountered opening up the property making
no ATTEMPT at mining any of the other ore III the
| mine.
| New ore bodies being constantly ana systeha'i-
cauv uncovered SO that Shattuck reserves are
being daily added to, making it one Of the big mines
in the Bisbee camp.
The property is equipped In hrst-elaSs N'"0'" ~
ner to handle 1900 of per day whenever the
market warrants such output. We have about hve miles
Of underground work the property and over Soooo'
TONS OF oxide and sulphide already shown up ah'
vet only very small of our ore zone deveopeu'
| AT the rate of shipments made today II "ou'
take over twenty years mine out what ore we nov
have in sight and blocked out as we are only smppin
100 tons per day average and it Will be kept do"
to this amount until such time the price of metal WI
warrant an Prior to July lst WV we "i"e
and shipped from $50 to 200 tons per day. ana som
months made nearly 100000 pounds of refined coppe
which was as much as the whole territory Of Arzo'r
made in year. thirty years ago.
Ar W. Hodges, a mining engineer and smeiter eN
mort who now receives salary of s5OOOoOo per Se"
from the Caro- de Pasco Mining company OF Lima Fer
,s our consulting engineer He examined our proper'
T., 1a,,arv 1909 and again November of the SAN
n 80. no ranorted 10 us that between these dates
; ami,ation the amount of in sight had increase
over seventy per cent In July 1910, he again reports
al "For the amount Of development work you nave uo
1t and the limited area prospected you have develops
K large bodies of ore think you have very vauao
= mine with present bodies in sight Again
- ,r.,as. "you have prospected only small portion
vour ore bodies and far results have been very ia
lie orahlo and It is my opinion you have not found
= richer oxide bodies yet
" walter Harvey Weed and Frank Holman ProberI en-
nent geological and mining engineers of New York C
n who examined our property last June made a We
careful and thorough examination for the Boston $40
re Exchange report In concluding this report they 81
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