The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-01-22

j. A. Minnear & Co.

Ing. IL VIII probably hnd IL necessary 10 raise
money before the draws close
South Lake with it's capitalization and its rea
ton to Lake really presents very attractive front.
though should not selling for much more than $40
per share the present. Two diamond drills are
now sinking on property No. 1 has attained :,
depth Of about feet and is going down in the
center property No. drill is located very close
Lake line and is approximately 400 feet deep
depth that it will interest the Lake lode depends
largely upon the dip of this vein. but it is believed
that it will somewhere in the neghborhood 1900
feet The drills one-quarter of mile apart
About twenty feet per day made in drilling. De-
velopments the South Lake viii be of i'm
portanco to Lake Likewise in the event the Lake
lode proving rich South Lake property 1t is quite
probable that it be expected that deal
the merger the properties may be brought
about
Indications point strongly to continuance next week
of the interest in the Lake group. Several are
pendng for organization of companies to work
properties district, among them being the
Henwood and SENEGAL properties An announcement OF
a deal of this is to be looked for within the
next few weeks.
CALUMET AND ARIZONA
The raid on Calumet Arizona this furnished
another the copper share market akin t.
the North deal fact il generally consld-
cred that the deal perpetrated by the same IN
terests. While has been successful yet
was North Butte fasco, there is telling what
may follow decline of points in a single day
brought weakly margined stock and helped
the movement downward 1t is also likely that con-
siderable short interest been developed.
AS far as physical conditions of Calumet and Arl-
arc concerned there for the break.
director of the company informed us that the pro-
perty looked better than it does In facr
Calumet Arizona is in better condition than foe
three years past The CORTLAND property has not been
what might been desired, it is true but from the
mentioned above, 1t is learned that c.
and A. will nothing in this venture. 1t is quite
likely that the options claims held will be per-
med lapse C. and A. owns several of these
claims outright and these will be continued.
Sufficient has been blocked the Courtanl
property to more than repay the company for all
money so ia expended there. Beginning this month
c. and A. will ship about 100 per day from
this property which will average least six per cent
copper The railroad to the camp has been completed.
At the Monmouth property lateral work at the 600
level is being done, developments have been
satisfactory ao
1t is said that at the meeting recently held in Chi
cago interesting developments enectng
Calumet and Arizona. AS much of this information
has been given officially of it
may naturally subsantation. 1t is reported that
directors had unfolded to them the details of the
proposed merger as far as C. A. concerned
Further the basis favorably regarded by the
board and the leading spirits in the Is
dsposing his holdings, because the
majority the take kindly to the
deal In fact the meeting at times waxed warm Sd
report goes The majority of the directors couM
the benefit be derived by Calumet and Ari-
by the proposed merger along the lines indicated
and unless there Is decided change in sentiment as
rs basis taking c. & A. in. this company
will not be part of the
In addition it is reported that General Manager Pow
ell came in for some criticism for supposed extrava-
gance in management. He has teen worker for
c. & A., and such a criticism, it is claimed was
called for. In event the Chicago gathering
| Interesting one and bring about a better
understanding among those at the the company
affairs
when the directors Calumet and Arizona meet
for dividend action within the next few weeks it IS
hardly likely that there will be any change the
rate of disbursement. 1t Is one or of
the directors in favor increasing the dividend
from 81 to $50 for the quarter Such step will hardy
be brought about unless the metal market dis
position toward greater strength. c. and A. directors
have always been extremely conservative and it is
hardly likely that they will at this time increase the
dividend. even though the companys earnings warrant
the larger disbursement
What is true of Calumet and Arizona is equally
of Superior and Pittsburg. Is known that a
Der Of people supposed have large blocks tbs
stock have really comparatively small amounts. In
the event of the being brought about S. and
p will be included in the If c. and A. u.s. Develop
ments at the property being pushed in vigorous
manner and the company is practically .:
debt and showing substantial earnings
MOHAWK