The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-06-18
CURRENT GOSSIP OF THE COPPERs

the management for the success of the companv
Your directors by frequent meetings have kept IN
touch with the affairs of the Company but have paid
no attention to the market price of the shares believing
that the physical development of the property IL NJ m
mary importance and that actual results OF develonrer,
work, when the becomes public will cause ,ns
shares of Company to receive more attention from
investors
NORTH BUTTE
Fortunately 1t is not necessary state this week tba,
North Butte suffered another serious decline during the
trading of the past days. Considerable support
found at $685. and the issue has holding at slightly
higher figures although buying is far from being f
aggressive nature
A week ago wrote the home office of the North
Butte asking for information developments at the
mine result of diamond drilling operations also for
definite statement relative to the dividend aues-
ton. The following brief reply is to hand:
III las decided upon at the annual stockholders
meeting held last April. possible quarterly
reports will be issued to the stockholders company
NJ concerning its development work and affairs For
Tmatter of convenience it deemed advisable that
this information be given at the customary time of the
Wpayment of dividends.
"As our board meet until the latter part o,
this month"; 1t is impossible for state at this time
what action will be taken, time au.
luiries."
The answer is naturally disappointing for we can see
no valid reason for any company, whose affairs are
conducted in the interests of shareholders refraning
rom giving such shareholders information subjects
IF vital Importance Directors and officers any stock
mpany only such by sufferance OF shareholders.
Possibly North Butte's affairs conducted on the
,heory that might makes right"
1t looks though North Butte would pay but three
dividends this year. The first dividend this year was
1delayed a month. 1t is expected that when dl-
ectors this month they will fix the dividend at
NIFTY again. but make it payable
"a North Butte for the year ending S754GG1
q against sl,OS6,3O5 for the calendar year 1909.
"a is evident from the statement earnings given
above that North Butte is not earning 81 share,
which amount is necessary to maintain quarterly
dends of fifty per share 1t does I'm a measure
confirm the theory that but three dividends will be paid
in 1910. North Butte now has outstanding 100000
shares of stock, the 10000 shares being issued
acquire the Croesus claim. From private reports
have received given to understand that far
physical conditions concerned North Butte is in
strong position. We reason for share
holders sacrificing present prices. and be-
that issue should be bought every break
but purchases should be for cash.
CALUMET G. ARIZONA AND SUPERIOR 6 PITTS.
BURG
Very persistent is the rumor that Calumet Arizona
and Superior Pittsburg be merged Equally
vague are the supposed details of a consolidation.
There has been persistent absorption of Superior &
Pittsburg noted during the two weeks, and
is believed significance. Several direc
tors two panes when questioned concerning
the rumored deal denied that any plan being
sidered in the face of such denas the story
remains persistent ever before.
Control of Superior & Pittsburg is understood to lie
largely In the hands of a group prominent Pitts
burg interests These people. told, would be
pleased to merge their property with Calumet & Ari-
Control of Calumet and Arizona lies practically
Houghton county with the affairs of both companies
directed almost entirely and by the local compa-
MES.
consolidation at this time would be desirable for
Superior & Pittsburg shareholders. Considering the
future 1t might be equally desirable for Calumet Ari-
stock C. & A. is earning now around "
per share Superior & Pittsburg is believed earn
at least 81 per share thirteen-cent metal market
Merely a basis for estimate the merging of the
properties with the exchange of share of Cau-
met & Arizona for five of Superior Pittsburg wou"
necessitate the issue of 100000 shares of Calumet ATT
bringing the total stock issue to 100000 shares
earnings of the two companies with at thr-
cents a pound would beIRproxmately s2SOoOoO'
little less than Sc Share. Dividends coud po
maintained at the present rate of 81 quarterly without
any trouble.
The advantage to Superior Pittsburg holders Is oo
vious. 1t would give them interest In modern
smelling plant and make 1t possible for the owners "
the stock to get immediate returns their Investment
instead of awaiting probably another year. Inc "u
vantage TO Calumet Arizona would be the interest "
the very extensive Superior & Pttsburg property III"
would eliminate the necessity of endeavoring TO de"p
any outside properties done In the Courtahu a
Monmouth districts. A merger between the TWO CUM
panies would naturally be received with mixed coh"
and quite likely throw actual control OF Coiunc'
Arizona of this district