The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-04-16
CURRENT GOSSIP OF THE COPPERS
MIAMI

ii
MIAMI
The pcrsstent strength In Miami Is due primarily
TO the expected favorable report to be made by j.
Park Claiming the shareholders at the annual
meeting TO be held April 90 1t is expected that this
report viii show an ore body blocked out containing
over 20 tons averaging better than 2 cent
copper The financial statement VIII also show graft
fying condition affairs to exist 1t is possible that
Miami will be producing copper just before the close
of the present year.
TUoLUMNE-
During the month of March Tuoumne produced
1903 sos pounds copper 2oS5O ounces of silver from
which 1t showed earnings to be approximately
500 OOO There is talk of the company paying an
initial dividend before the will have passed
SHANNON
BY reason of the various improvements in handling
ore shannon has able to gradually reduce its
production costs present rate of operations
is earning almost 81 share on its outstanding
500 900 For the quarter ending March
the profits were $4,000 in of the preceding
three months net earnings being reported at ss2Sl5
With any further improvement in the metal market
shareholders Of shannon look for the resumption
OF dividend payments
NEW KEYSTONE
Keystone recently was attended with negative results.
]. Park Claiming. who is consulting engineer of the
company that elsewhere developments have been
very satisfactory though the present estimate
Of the tonnage be satisfactorily made The
stock around 81 per looks extremely attractive
ALLoUEZ-
There has been some quiet buying of Allouez noted
during the past week with a consequent substantial
advance the Allouez is making good record
in shipments. getting gradual increase in the min
stamped. No shaft is contribute
ing fair amount of rock shipped and of an excellent
grade There talk of the company putting in
permanent equipment for No. shaft this but
this is hardly likely The present equipment is, of
course not of q permanent nature but will meet all
requirements
NEW FLoTATIoNs-
There are reports circulated locally of no
tations being put the market in the future.
one is the Algomah property. which lies south and
adjoining This property is said to carry the
extension of the Lake lode for over half mile The
visit to this during past few days of Thorn
f. and his interest in lands Indiana
gave rise to a of another new deal pending.
The Notation of the Senecal-Hussy and Howe tracts
can also be looked within the next month two.
In the event either the above mentioned deals
are put through it is likely will public
offering OF the stock
TWIN LAKES
The diamond drilling outfit to be used in exploring
the Twin Lakes property is the ground and
it is expected that it will be in commission early
next is stated that amygdaloid forty
feet width been discovered outcropping or the
Twin Lakes Diamond drilling at this property
will be watched with than passing interest.
INDIANA
| India hap chad v,tl
more than ordinary attention it is believed
that boring will very disclose important results
The strength in the stock during the past few days
is attributed this fact Offerings of Indiana
extremely light. which serves to make fluctuations
rather more sudden than is usually noted in a Lake
Superior stock.
NORTH BUTTE
Unquestionably the feature the market this week
was advance North Butte. one week ago today
North sold freely sSS. An advance OF approx
imately points recorded since then. The ad-
vance while sharp well sustained and offerings at
no time since the upward been hard to
handle.
The advance was primarily due to the important de-
veopments in diamond drilling. Readers of these let
ters will months ago we called at
tention TO the fact that the Diamond workings
Of the Anaconda diamond drilling to started to
explore North Butte's property at depth. This
has been under way for time past, but no posi-
tive results attained until this week.
\ The drill expected tap North Buttes ground
at depth of about $500 feet. The announcement
came from Butte Tuesday that ore had been cut in
what was believed to be the Edith May vein. Bit by
bit information leaked that the vein showed excen
tiona richness, indicating that the vein at $500 feet
was richer than been opened Tho
report lacks official confirmation, for North Rp,te
officials refuse to make any statement of an autbori
tative nature the subject private sources II
is known that the statement is true