The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-04-07

the mineral produced Dy the CaluileA
and Hecla properties for March ag-
12,277,142 pounds, compared
with 11,65S,545 in February, an in
crease of 91S,976 pounds. The produce
ton of c. and II. and its subsidiaries
in March follows:
At the annual meeting of the Isle
Royale Copper Co, Thomas Nelson
was elected director to succeed the |
late Alexander Agassiz.
At the annual meeting of stock
holders Of the Tamarack Mining COM
pany held yesterday Thomas n. Per-
kins was elected a director, replacing
Alexander Agassiz, deceased. Other
retiring directors were reelected. The
numer of shares represented was A.
sos. '-i
Rutte.-The engine At the Never
Sweat mine Of the Anaconda got away
from the engineer yesterday and was
wrecked Engineer McNabb was kill
ed. The accident will cause the closing
down of the mine for at least three
months or until another engine can be
installed. The Never Sweat has been
hosting about 400 tons Of ore daily.
Boston.-The Utah Cons. annual re-
port certainly presents a dismal eXhib-
it. on Feb. IS President Broughton
prepared the stockholders for the shock
! by sending to them a statement to the
effect that the values in the ore treat
ed in 1910 were lower than in 1908 so
that the dividend declared in 1909 was
out of the accumulated surplus. lie
also forecasted at the same time the
probable suspension of dividends. The
report at hand amply confirms Pres
ident Broughton's preparatory mes
sage. Notwithstanding the net profits
for the year amounted To only $l54.O0O,
or 81 cents per share dividends of 81
per share. or 5000. 600 were distributed
This was i'm face of the fact that the
company was confronted with the ne
cessity of making a liberal charge-oi Off
over S4O0, 900, against the dismantled
smclter. The directors owe the stock
holders statement justifying If pos
sible the declaration of any dividend
whatsoever during the year 1909 The
| OXDl0nHllOn
in the depreciation in the value and eX'
tent of the company's ore reserves
The gold, copper and silver values pei
; ton of ore have shown n steady decline
, and costs have necessarily advanced
commensurately.
Boston.-It has been practically de-
cided at the meeting of the First Ma
tional Copper Co. to levy an assess
ment of S1.25 a share on the 10000
. shares in order to retire the fourth Sc
ries Of bonds during July amounting
to $4,000 and also, the issue of ap
proximately the same amount in note
!, que within few weeks. From sue
: an assessment there would be avail
: able for the purpose of retiring bot
: the outstanding bonds and notes $1OU'
600 and with their elimination TN
u company will be free of all interes
: charges.
" 1t is figured that the crosscut l
l. Mohawk No. 6 shaft from the secon
. level will cut the lode again in abou
q one week. The first level of the drii
. i'm this shaft going north continues !
u first class copper ground, about or
g cars being sent direct every twoday
: TO the mill from the openings.
II An assessment of $3.50 per share ma
q been called upon $4,000 shares of I'll
u capital stock of the Mangus Develop
: ment Co. payable on or before SatuI
y day. May Z, by all stock of record q
: the close of transfer books on April !
Books win close on April IS at 10
M. and reopen May at 10 n. IN. an
. no stock will be transferred after Apr
y Is ON which the assessment shall Re
y main unpaid.
= Salt Lake.-Offcial information Ia
is been given of the intention of buildir
a an Independent railroad from the PROF
k. critics of the Utah Copper company
l. bingham to the smclters at Carried
x n distance of 90 miles. Transport
rs ton facilities have been inadequate
re the past to handle satisfactorily u
Id utah Coppers output from the min
Of and demands improved service.
IN The statement OF the estimated col
Ia per contents of the mineral produce
n Inv the Calumet & Hecla properties 4
as March included for the first time q
Va output of the IaSalle company. whi'
Of was placed az S0.1S5 pounds The l.
n sale rock MS matter OF fact Us bell
M mined and mlllcd by the Tecums'
<.xx.I