The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-04-09
COLUMBUS CONSOLIDATED

which the company finds itself
We commented at considerable length on this pro-
perty in our of March 26th and then expresseu
the opinion that the stock would probably sell lower
The information based on correspondence iro"
Salt Lake From another have the following
information the property:
"rhe assessment on Columbus Consolidated was ne
cessary in order to take of an Indebtedness OF
something like ssO.OOOOO owing to Mccormick ana GO"
the company's bankers owing to the change OF the
charter of Mccormick and Co. 1t was necessary to call
in this loan and the management of the Columbus
Consolidated had been disappointed moving the
cumulaton of ores. owing to bad roads the assess
ment became imperative. OF course, 20 cents share
does not clear company of this Indebtedness out
IL Is thought that considerable be moved with
i'm the next few weeks so as to obviate the necessity
of any further call upon the stockholders at this time
With this assessment paid Columbus Con- will be In
a much improved position, and 1t looks like the pro-
per thing to DO to make this payment"
NEW BALTIC
The furry in New Baltic and Arcadian Thursday
is attributed the developments in diamond drilling
the day before a was obtained at depth of 925
feet from what is known the west lode For three
inches vein matter shows practically solid copper
The lode was WIDE and for considerable dis
carried commercial The west lode lies about
80 above the New Baltic so that within the course
of the next two or three days the New Baltic vein
should be pierced.
The company is drilling what is known No. hole
which about 1000 feet the No 2 hole. AS
Arcadan has a considerable block of New Baltic
stock, developments the latter property of
considerable Importance to Arcadian
WlNONA-
The stamp mill being erected by King Phillip and
Wnona together is expected to be ready for service
time in August The mill has two heads each
with capacity of $50 daily 1t is expected that
from the start winona will ship approximately 1905
tons of rock daily to the mill.
1t is rumored that the company will shortly call
assessment of s1OO per in order provide
ditiona funds with which pay construction
pense and also provide additional working capital.
BOHEMIA
Diamond drilling at Bohemia this week resulted in
cutting amygdalod vein carrying commercial values
at depth of slightly less than 400 feet The drill
continues downward and should reach No. Adven-
lode very soon
AS result of developments this drilling, Bohe-
mia displayed considerable strength marketwise and
appears to be of the attractive drill PROPOSE
tons in the Lake district
LAKE COPPER
The decline of ten points In Lake Copper was the
feature of the copper share market week. The
stock closed at $G4 Monday afternoon, opened $50
Tuesday morning. and in less than hour slipped
off to $50. Since that price was recorded it showed
a fair recovery.
The break in Lake copper due two important
factors The first the fact that we are in the
midst of raids was open for such an attack
presenting very vulnerable front The movement
against ii was well timed with second factor the
announcement of the results of milling oper-
atoms.
During March Lake shipped rock to the Franklin
stampmill getting 1O7,42o pounds of mineral or 2S
pounds 10 the ton stamped. In refined copper
ths would be equivalent pounds to the ton of
rock stamped The previous announcement of milling
operations gave slightly better than pounds of re-
fined to the ton so that the recent announce
nent was disappointing in that it disclosed a drop of
ave pounds of copper per ton of rock stamped. The
announcement was the signal for selling stock which
with bear operations found the easily brought
about.
unquestionaby Lake has been always selling too
"gh ana so we have always maintained Even above
$50 per share the property dscountng the future to
4 considerable degree, but much emphasis should
not be placed the announcement OF milling
operations In justice to the property should have
been stated that Lake shipping all of the rock it Is
in this district is making a selection from two to ten
per cent, and Lake has discard whatever Iake,s
record looms up very satisfactory indeed
Lake will have its new and heavy equipment in
stalled this summer and when this is in service will,
DC able to give much better account of itself Lake
has stl a number of problems to solve The most
important one 1t to determine the exact
strike and dip of its phenomenal lode 1t is anxious
% SINK second shaft but sufficient data for such
work Is not yet at hand There appears to be more or
ess disturbance in geological conditions near the Lake
property There are still many practical miners I'm
his district who firm in their belief that the Lake