The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-05-20


copper Is said to have resulted from
the advance in the asking prices.
According to IN latest information
the Davis DAILY is continuing its de-
velopment work. Nothing can be
learned of the actual results except
the statements of miners, VINO declar
that large bodies of good ore have
been blocked out. OF late the force of
men has been reduced more than one
half owing to the inability of the COM
pany to make, arrangements for ship
ping the ore.
The new 2O0-ton concentration OF the
Corbin Copper company will be CONF
pleted in the next two or three weeks.
The drill at Twin Lakes has been
drawn after traversing 500 feet. A
vertical hole will now be sunk.
The same appearance that has al
ways characterized the Lake lode Is
shown i'm the most recent opened por-
tions OF the mine. The drill that Is
now being used for uprising will soon
he available for other work.
lit tiitt Douhho VI tVPPN+
now being recovered from TamaracS
rock on a production of 600, 900 pounds
annually means 100000 pounds Of
copper, which will net the company
about $212.7G0 or $3.50 per share.
1t is proposed to follow the Lake lode
into adjacent properties by trenching.
This would be all right If the over
burden continued as shallow as where
the Lake first uncovered the lode.
I There are many reasons for believ-
Ting the men who dominate the secur-
ity markets have practically abahdon-
81 any plans for a bull campaign in
stocks for the present and aside from
short covering the feeling is steadily
gaining ground that we are not likely
to experiences anything like bull
market before late I'm the year If al
all this year. Politics and congress
are assigned as the cause Cdr this Tho
market leaders are waiting for con
gress to adjourn and there is little
prospect of that before we win be into
the crop moving period and then into
the congressional campaign which thi,
year is likely to he more or less dis.
turbing to business and on top of al
this will be the re-argument in thu
Tobacco and other cases pending II
the supreme court. This schedule o
events is not conducive to a bull cam
paign in the minds OF the most people
yet i'm Wall street and elsewhere Their
" .a.kt 10 L.. AL.
accommodating stocks. especially tn
Morgan interests. The loans and 9th
err INDICATIONS of such a program d
, not bear this out.--Chicago Post
New York-An official of one of tn
largest lead producing companies Il
this country says that demand 70
metal has increased during the las
few days. Metal selling agencies ar
now out of the market for copper an
the output OF the companies in whic
the iGuggenheims are interested ha
r been sold ahead until July A moderat
rise in the price of the red metal
4 predicted by officials of the Guggen
G helm interests. 1t was said that tn
{ users of copper and lead had above
S their surplus stocks for the metal I
e run so low that all orders given durin
s the last two weeks were for immediat
delivery as the demand for copper nat
4 urally follows large sales of lead.
4 At the annual meeting of stockhold
n ers of the Anaconda Copper Mimi
c company. at Anaconda, Mont, the oil
= board of directors was re- elected.
e An engineer, well known in Bosto
n mining circles and who has recent
e been at the Ohio Copper propert
i Esays: 81 saw the cost sheet of the Obi
t company and they are making cope
: for less than cents per pound. If til
= property was equipped and workinfi u
n to capacity IL would make as niue
= money per dollar invested as any on
= of the porphyry mines They ase do
a ing splendid work. also saw the re
$ turns of concentrates shipped to I'll
o smelter and they are running betwee
G 20 per cent and 25 per cent coppt
a with substantial values i'm gold an
I silver"