The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-04-02
CALUMET AND ARIZONA

The annual report of the Calumet and Mining
company will be distributed next week to the share
holders of the company. The statement promises In
many respects to be of the most Interesting which
stockholders had the opportunity to peruse The
report among other things will show The company to
have balance of assets of approximately 100000
During the year 1909 Calumet and Arizona earned
slightly better than Sc share. so the annual state
ment will show This excludes the cost of work done
on outside properties and payments on options etc.
If these amounts were costs it would sho"
the company to have earned little less than the diV-
idend requirements for 1909. Inasmuch the extra
ordinary expenditures above mentioned of such
nature rebound to the future value of the COM
panvs holdings they are charged against pro-
duction the year directly.
For the copper produced during 1909 Calumet AMI
Arizona received approximately 1904 cents per pound
In addition precious metals returned sufficient to
about cover the cost of refining and selling Copper
prices the first three months of 1910 have been
better and Calumet and Arizona this year has so.d
some of it's product as high fourteen cents per
Mound Its copper in 1909 brought than the av-
erage price obtained for the red metal in 1909
! Calumet and Arizona ores ran about five per cent
or 100 pounds of copper to the ton, dry weight in
1909 1t has made effort to get out great guam
tity of the red the reason that difficulty
might be experienced in marketing any meeaseu ou'
put
From a physical standpoint Calumet and Arzonas
Bisbee property is in better shape for the past
few years ore has been opened up at depth much
greater than was expected II would be found Not
only is this true but the with depth is apparent
iy being found richer For instance at the 1900 level
of the oliver shaft large tense cut which ran
between two and three per cent. in copper AT the
next level the same tense developed 100 feet long
and $50 feet in width averaging approximately seven
per cent copper. 1t is believed that the same ore
body will be cut within the next sixty days at the
/ 400 level showing further enrichment
In its exploratory work at properties outside OF tn
Bisbee camp Calumet and Arizona has not met any
decided success the CORTLAND property 1t IL
now Shipping 100 five per cent ore daily 1t Is
generally believed that the CORTLAND property viii no'
be taken over by Calumet and Arizona This belief
is supported by that Copper Queen has with
drawn from the CORTLAND camp results not coming ur
Ito early expectations.
Az its Mammoth property Calumet and Arizona Is
doing very little work at the present time TN
propertv is owned outright by the company and lies
about forty miles from railroad line is oen'
built which will run within twelve miles of thu
lproperty so that later operations may be resumed
there.
on the whole the annual report can be considered a.
La very favorable by Calumet and Arizona snare
y holders The property is in excellent physical cond
ton Its surplus is equivalent to SIS per share for tn
= stock c. A. today is worth more money per shar
than it was when the stock selling close to $50
per snare. but of copper was then bringing
better than twenty cents per pound The annua
meeting OF the stockholders will be held in Bisbe'
Arizona, April IL. No change in the directorate
e contemplated
n SUPERIOR AND PiTTs5uRc-
9, Shareholders OF Superior and Pittsburg will mex
week be given opportunity Of reading probably IN
most satisfactory report submitted to them &c