The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-12-01
Minnear & Co.'s Gossip

santa Rosaiia directors from Water
town. New York. are expected here
today. No announcement has been
made as TO the possible reason for this
visit. though il is likely that some
news will be given out after they have
been in session with the former local
board.
The Rosalla tunnel Of the Corbin
Copper company is showing some high
grade ore, assaying l7A per cent cop
per and 26 ounces of silver and 60
cents in gold.
During the current year Franklin
has been maintaining an output of be-
tween $4,000 and 10000 pounds a
month. but as soon as the new hoists
are ready. production viii be largely
increased.
Sl5O.00o from the Quincy and $4,000
from champion, the ST Marys Miner
al Land Co, is in a position TO pay
a cash dividend. The last cash divi-
dcnd was paid November 18th, last.
Quincy is To pay the 81. Mary's Co.
sl5O.OOO for the next three years
which with the Champion dividend
assures earnings Of 81 per share.
According to a wen known source
Quincy win begin a thorough search
for the Hancock lode beginning early
in the spring.
source high in Butte circles Is of
the opinion that the g. &, B.-Anacon-
da controversy win be settled out of
court following the recent amicable
policy recently adopted by the Anal.
people as a witness in the Raven mat
ter.
I'm Rutte the settlement OF the North
Butto-Tuolumne controversy in en-
Enthusiastically received This raises
expectations that the b. & b. controv-
crsy will De settled in the same annie
able way which renews confidence in
the camp. The reports of Walter Har-
vcy Weed is expected 70 be very IN
auential as it will make out strong
case for the b. & b. as being strictly
within it's rights.
While II is without much support IN
the market. shannon continues to
make an excellent showing and is un-
ouestionably within showing distance
of n dividend. The bonded indebted
ness will soon be entirely cleared
away and the company will then be IN
position to do something for its
share holders. Since the present man
agement took hold Of the smelling and
concentrating plant il has been prac-
tically entirely rebuilt railroad con-
structed. new properties acquired and
new ore bodies opened in the old. 1t
is now a modern and up-to-date plant
i'm every respect producing 1900 tons
of copper per month, and capable of
increasing its production 100000
pounds a month when copper times
brighten.
The construction OF the new mill |
at Inspiration will be started just after
the first Of the year. II will have "A |
capacity of 5000 tons a day. The COM /
pany claims 13,GlG.OOO tons of ore has |
been developed and 100000 tons par
TALLY developed.
fhc South Lake drill which encoun-
tered the new amygdaloid lode has
been drawn, and will be started at a
spot about 500 feet from the present
location
when the new compressor is INSTALL
Cd Lake will begin an extensive driv-
ing Of the drifts in the Lake lode to-
ward the north, i'm the direction of /
North Lake. in order to prove up the /
property in that direction.
Shipments to the smelling plant Of
the Nevada Cons, at McGiH have been
unusually heavy recently, running as
high as from 5000 to 5000 tons. This
is not permanent but is done TO hll
the bins in anticipation OF the heavy
winter months now entering.
Houghton Copper will bcgir active
sinking in the very near future, just as
soon as the surface plant and shaft
equipment is complete.
Allouez is said to be operating at Il !
profit that it is gradually wiping out
It's debt.
The copper producers continue tol
quote Elec. copper at - rs TO 1SI
cents a pound and report fair vol
umc OF business. Considerable copper
IS now being sold for February deliv-
cry. Producers have no copper avail
able for delivery In December and ac-
cording 10 a report of one company
there will be little copper for January
delivery within the next week or two.
Champions dividend of 81. per share
Is the seventh this year. The total
since organization is $5,7OO.OOO.
Miami Is doing about 800 feet Of de-
velopment work weekly to complete
the work necessary 10 furnish 1000