The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-04-05
PAINE, WEBER G. co.'s GOSSIP.

The National City bank of Chicago
in their April circular says: "There
has been a material quickening in
spring business within the last few
weeks and indications point TO
broadenng inquiry from mercantile
borrowers during April. Europe is
still buying our securities in good vol
ume and the foreign bids for the re-
cent 5O,00O,000 dollars New York City
secure awards of about one quarter of
the entire issue for the account Of
London and Paris investors. This buy
ing of American bonds is all the more
significant i'm view of the phenominally
low prices prevailing for investment
ed by the recent fall i'm British con-
soils to the lowest level touched with
single exception in sixty-two years"
Cranky directors always meet on the
first Tuesday of the month If this
schedule Is maintained this month they
will meet today in New York when the
full board will have before the full
report of inspection made by President
Langeloth. Director Clark and Director
Sussman. an engineer. There appears
to be considerable doubt as to wheth-
err the board will at this time order
dividend, although the company
could afford to pay one as its trea-
sury is i'm a strong cash position and
the mine is being operated to full ex-
tent.
The stock of the Houghton Copper
Co. Is to be listed on the Boston Elk
/ change as soon as certificates are en-
graved The St Mary's Mineral Land
company received $4,000 shares of the
stock of Houghton in payment for
| lands and this stock, we understand,
will be distributed to the st. Mary's
stockholders just as the Franklin stock
was voted This action will not be
taken, however. until certain details
are completed. There are some miner
al rights which the company will be
Obliged to re-purchase, the surface
rights of which were sold with the
option of re-purchasing.
The Superior Copper Co. is nego-
tiating with the st. Mary's Land COM
pany for section of land adjacent to
the Superior lands. presumably in the
southeast corner of the Superior.
Land is needed for the purpose of
working the Superior to better advan-
tage and to increase the ventilation of
the latter mine.
Although the second installment of
the So assessment levied on Winona
| was paid only on the tenth of last
month, we understand that an assess
ment of another dollar will be called
some time this summer. probably in
July. The last assessment is to meet
the balance due on the company's half
interest i'm the stamp mill and also to
meet the expense of the working force
during the summer. The assessment to
he called will probably be the last on
this stock. There is now paid in S21
per share on the 100000.
Boston Financial News says:
The Superior and Pittsburg company
Is shipping about 1880 tons of ore a
month at present. OF this 10000 tons,
averaging about per cent, comes
from the Hoatson. $500 tons assaying
between 5 AMI per cent. comes from
the Cole shaft and 5000 tons of 6 per
cent. ore from the Junction shaft.
During 1909 this company produced
24,S49,3s2 pounds OF copper and {"
the appearance of the mines they can
produce 25,O0O,0O0 pounds of copper
n year without forcing the properties
March ACKNOWLEDGEMENTS, Sig tons.
Boston-Under the terms of the
contract which the Utah Consolidated
| Mining company entered into late In
1908 for the smelling of its ores for q
/ period of years. the company should
/ commence this month to ship its ore
TO the new Tooele plant Of the Interna-
tionnl Smelling and Refining COM
pany now nearing completion. The
Il contract runs for 10 years from April
1. 1910. and provides for the daily
treatment OF 1.2O0 tons of ore at a
l cost which we understand Is 67.6C
cents per ton less than that charged
al the Garfield Smelter Of the Amer
lean Smelter and Refining Co. The