The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-10-07
Minnear & Co.'s Gossip

Ely. Nev.-Three shifts of minel
arc employed in the drift recent
started by the Groux company froi
1.2O0-foot level Of the New Girou
shaft toward the flooded lower work
inas of the Alpha shaft ESQ fet dis
tant II is estimated that the drift
can be finished In sixty days. Struct
ural steel workers are busy on tn
frame work for the buildings Of the
Yermanent hosting plant The com
pany continues TO prospect it's sulph'
Idle deposits by means Of three churr
drills The results have been salts
factory but nothing is obtainable as
10 the character and extent of the ore
which has been proved. There is an
unconfrmed rumor i'm circulation that
the Giroux company has purchased the
water rights and other property be-
longing 60 the Ely Townsite company.
new 100000 mortgage on Butte
& Superior was recorded at Butte
Monday. The mortgage runs To the
Northwestern Trust Company MS trus-
tee. The new bonds carry six per cent
and run for 10 years. II is understood
that only about 100000 have been
subscribed. r. Nj. Atwater. general
manager OF Butte & Superior says:
Butte & Superior is shipping $50
tons ore per day To the Basin concen-
traitor that will average n per cent,
70 per cent of which is saved in the
milling. For September the total
operating cost outside of new con-
struction was $3.50 a ton. During |
September the mine was shut down FOR |
n short period, owing TO an accident I
to the hosting plant, but the profits /
for the month. including new con- /
struction, were $4,000"
London reports further decrease
Of 3,S16,96O pounds in the foreign Wis
ihle supply OF copper for the two weeks
ending October LIST, making a total
decrease for Sept Of 10000 pounds.
This is a repetition Of the favorable
news which has been coming from
abroad since March LIST. During this
time there has been n decrease i'm the ,
foreign warehouse stocks Of copper Of
AZ .677. 200 pounds. The Importance q
this decrease is patent when IL is re-
membered that in the period from
March 1st to Sept. 1st, the surlCus in
the u. S. increased about G1,OO0,OOO
pounds. 4 significant feature of these
foreign statistics is that the Septem-
Der decrease was accomplished in face
IF the largest receipts from this side q
Tor over a year. our exports in Sep
.ember amounting TO 60, 100000 pounds.
The average exports for 1910 have
been well up to the total Of last years Il
pr say at the rate OF between 40 and W
30, 900, 900 pounds per month. The lat IL
sst decrease in the foreign visible Il
supply taken in conjunction with an y
Ictual decrease in the worlds stocks 81
or August, will make of great in is
crest the report of the American tt
Producers association for September.
Ilancock's No. / shaft at the deep III
st point of the 18th level has some pl
AAi' U'0A NNlpfA fNfA NIi'llfu III lllt 81
I'd vein. The No. 10 level has again
ONE into good ground. d.
&c
The strength OF North Butte is part co
2 attributed 10 the reiteration of the
DRY OF the drill which was sent in m,
le property from an adjoining mino IA
ld partly To the fact that the COM tic
my will have part Of it's litigation LAT
At Of the way in short time. sw
Arizona Commercial has decided 20 WI
wer its shaft TO the 1OOO-foot level pr
anticipated.
It Is stated that any material re- lb.
lction I'm the volume Of copper sur vo
MS would be forwarded by an adj by
nee Of the metal. with normal bc,
siness it is said that copper would no.
wv be selling on a lucent basis. bu
mel
Allouez at it's No. 2 shaft is show
3 some Of the best ground that has H,
I been opened at the property. The er
mpany is putting copper in sight or,
1ch faster than It's present rate OF 10
traction. co,
nu
over one-third Of the entire capital the
.tion Of the National Mining stock inc
s been deposited with the trustees. co,
me
The management Of CRANKY win bol
osecute the development scheme vi min
rously and expects ore in sight
thin the next few months. The
mpany has resumed operations I'm
p two furnaces that were recently
ut down.
L Is said that Greene Cananea has n''
into effect a policy Of curtailment. 40
hougy the September production AN