The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-06-28
HOMESTAKE GOOD
FOR MANY YEARS
RESERVES ESTIMATED AMPLE
TO MAINTAIN PRESENT SHIP
MENTs 20 YEARS. HAY
DEN, STONE GOSSIP.

Homestake.-In the group of golt
mining shares Homestake occupies q
position much similar To that of Utal
Copper i'm the list OF copper stocks
inasmuch as both are operating low
grade deposits which in each instance
are Of such magnitude and permit of
such low mining costs as TO insure
liberal profits for a generation at least.
In official circles the Homestake
ore reserves arc estimated as ample
from which to maintain present daily
shipments for twenty years. while in
other well-informed quarters much
longer period is given.
The Homestake is paying dividends
at the rate of Sc per share per an
mum. which is far less than its net
earnings, even after allowing for the
vast improvements OF recent period
making for greater economy, both UNI
foreground and at surface.
As Indicating the trend i'm this di-
rection it may be noted that the COM
pany is now engaged in the construc-
ton OF creosoting plant at which it
plans TO treat all of its timber for use
underground. Some years ago the
company erected a sman test plant,
which worked successfully for year.
The process was found to prolong the
life of the timber, in consequence OF
which the plant is being enlarged
and provided with a new steel reser-
voir having a capacity Of 10000 gall
Ions OF crcosote.
Homestalc has an aggressive and
most capable management. It's shares
are an excellent investment, with
broad possibilities, viewed from the
standpoint OF speculation. The stock
Is very closely held
North Butte.-The action Of North |
Butte in reducing its dividend rate TO !
$1.2O per share per annum occasioned |
no surprise.
This company Is now producing at
the rate Of about $4,000. 600 pounds Of !
copper per aunum The declining |
copper contents i'm the ore has been /
attended with rising costs, so that af-
ter allowing for the expenditures for
extraordinary development work IL Is
clearly evident that on the present
market for copper the new dividend |
is well up TO the present rate Of earn
ings
However, interest i'm North Butte
has not 20 do with it's immediate divi-
dends. but rather with the result Of
the development work now I'm progress,
particularly at new depths in the
Spectator shaft.
North Butte owes its prominence Of
recent years To the extraordinary
values extracted from the Edith May
and Jessie veins. The Edith May vein 1
I'm particular. proved disappointing at
the 1000 and 2.2O0- foot levels, notably
the latter for which reason we attach
some little Importance to the state
ment given out at Mondays meeting
OF the directors 10 the effect that the
Wine below the 2.2OO-foot level Of the
Edith May still continues to disclose
high grade ore.
Among those most familiar with the
history Of the Butte system Of veins
there is a strong conviction that the ,
Edith May will disclose a zone of Sec
ondary enrichment. as was the case ,
In the lower workings of the Ana D
conda. Herein is presented a most ,
feature or speculation.
Ahmeek.-Thc Ahmeck is now maxi ,
Ing regular stock shipments to it's ,
lew mill, I'm which two stamps are in
regular commission. with two yet to !
De installed
We understand that there is no in
ention on the part OF the manage :
nent to further increase production. r.
IS a result Of the new milling facili- (
les provided. though If it were desir- Z
d the mine could easily be drawn up !
m for 2,4OO tons Of rock daily.
Within four months both Nos. and r
shafts are expected to reach the
tearsarge vein. the company's active
leposit. so that "A year hence a con
iderable tonnage should be available {
rom these sources. At the mill =
tamping capacity Of about 1900 tons =
ally will then be available. and the I
ompany will probably be in a position I
o show normal results. Ahmeek can r
'e counted upon as "A dividend payer
ext year.
Superior & Pittsburg.-Producing .
Upper at the rate OF about $4,000. 900 b
sounds per annum, the Superior & =
r. showing by far the best Q