The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-05-28
CURRENT GOSSIP OF THE COPPERS
j. A. Minnesr q Co.


been more encouraging than for time past ana
the argument that the ores petered with depth
apparently Is being demonstrated to be without fo,,a
ton.
When diamond drilling is resumed facts will hs
obainabe. but from what learn other than or
fetal sources, indications that a nigh grade orr
body will be developed the 2.2OO-foot level
This is not the only development work being done
as a crosscut Is now being driven from the 1900 foot
level of the Mizpah workings vein that wa,
penetrated last week by the diamond drill which wa.
driven horizontally from that level. This drill encour
tered iS-ioot vein within 20 feet OF the drift 1t is
the purpose OF this crosscut to up new ore
body which will be drifted in both directions
The usual quota of stamps in operation aoout o.
out Of possible 100 crushing last something like
4oO tons and understand the average assay Is bet
ter than $4,000 ton against than $4,000 for
the last fiscal year which ended March 1st
The directors will for dividend action in the ver
near future. and while increase not likely this
quarter, they earning the present dlv
dend requirements Using last months earnings rs n
basis the earnings equivalent $225 per share
while the present dividend is S5 quarterly or
$3.50 per year.
Should the continuation OF diamond drilling expose a
high grade body, there is every reason to ex
pect depth of 1900 feet Tonopah at these prices
looks attractive both from speculative well as in
vestment standpoint
COPPER RANGE
There is considerable comment on the action OF the
directors in declaring the regular quarterly dividend
of s1C0 at meeting held Wednesday this week Th,
dividend is payable July stock of record June
4tf.
1t is quite apparent that the Copper Range directors
looking the situation from a more optimistic
point of view than conditions the face would seem
to warrant earnings last year quite up to
dividend requirements.
While the present quotations. the returns are a
fraction under per cent there getting away from
the fact that Copper Range is best invest
ments in the coppers and with any Improvement in
the metal situation will Copper Range 20 points
higher the proportionate increase in dividends
BUTTE eALAkLAvA-
Butte Baalava is the very few stocks that
has not only been active shown material gain for
the week This dscounting of the increase in
production and the Likelihood of initial dividend in
July of so cents quarterly. The stock been brought
by good people, according to advices and
w told 1t will sell higher
The increase in production possible by the
completion of of the finest electric hoistng plants
in the west and the opening OF high grade
les on the 1OO 500 and 900 levels Returns
smelter averaging 10 per cent copper with about
Is ounces of silver to tho not likely that this
percentage will be kept something unusual
for Butte to than Az per cent on tho
average.
The company capitalized for s25oo.ooo par $1,000
with practically all While the propertv Is small
it carries the of the best veins in the
camp. They the Edith May Spectator Old joe
sioux Chief and Mountain Chief. The property is en-
tirely surrounded by Amagamated subsidiary COM
panies and lis located in the OF the Butte camp
mo equipment Is the most complete and up date
III the camp all electric driven. It includes hosting
pant good Tor 1900 feet and auxiliary hoist good
1900 feet two Rand air pant and
water pumps They also the first and only steel
ore bin with 500 tons capacity
Inc property has been ably managed carried
ths point Of development in 2ls years time It
rs the youngest producer in the camp and has very
promising future They shipping over 100 tons a
day to the Pttsburg- smelter which is con-
troed by the East Butte.
Late reports from the property state the ore bodies
are showing up larger richer with depth large
quantity Of high grade copper glance ore is being found
on the 900 level The vein on the 500 level is "a feet
wide
Butte. May 2s 1910.
me last cars OF ore shipped to this Butte smeler
by the Butte Balaklava exceptionally high
ing nearly IL copper with II ounces of
1t Is expected that the will more than pay
cost OF production
On the zoo level an immense body Is being develop
cd which runs as high 1s per copper and "a
ounces Of silver
SANTA RosALiA-
While the action of Santa Rosaia on the market for
the past month so has been say the least very
discouragng insiders very sangune the ultimate
success of placing Santa Rosaa big earning basis
The fact that the vein the $50 level pitches north
necessitated ienguhier was first anti
eipaed, and 1t is not surprising those well in
formed that they have had reports from the prop
erty Of the str,k,rr 90 No ,o,,o on ar sso, ove,