The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-03-19

lcf production VAS 7.24 cents per pound.
iIt is believed that for the balance OF
the year, the cost OF production can
be reduced materially. IL Is likely
also that within a short time the en-
tire plant win be run on fun time
Increasing 1.-THE output probably 10
Z goo. 600 pounds per month. With
these conditions in view IL Is pos
sible that the cost OF production may
be reduced TO the neighborhood OF six
cents per pound.-News Bureau.
Calumet, Mich, March 1s.-The
strong closing last night that seemed
to forecast n resumption of the bull
movement today did not make good.
There was a marked decline I'm both
the general and the copper share mar.
xet Hancock was noticeably weak,
selling down TO 20Is. Amalgamated
opened at S0A and sold off TO 17ss.
North Butte, Centennial and even Call
umet & Hecla showed better selling
than buying.
Curbs shared the weakness i'm the
Boston list. Heating was offered all
day at IL on the news OF a strike
among the employees and the closing
down OF the property. Fremont was
strong i'm the early trading, selling at
ca but eased off at the close. Santa
Rosalla was in good demand at IL
with very little stock offered.
New York. March 19.-While the
banks have been gaining a little money
this week, II is not expected that the
bank statement will show any very
material changes. There was contin-
uel bulllsh talk on Lehigh Valley and
Norfolk and Western; of the two /
must prefer Norfolk as a safer specu-
lation.
There still continues to be n tre-
mendous amount of pessmism here in
New York. This applies particularly
to local brokers. There is great
difference of opinion as to how success
full the city bond issue, to take place
on Monday next, will be. In some
quarters it is positively asserted that
II will be n failure.
A syndicate has been formed to
make a bid on the bonds.
With this uncertainty overhanging
the market. and with the possibility of
the Tobacco decision also coming down
on Monday, | am inclined to look for a
pretty dull market today. w. p.
Globe. March l9.--At the Cactus
mine the crosscut driven north from
the top of the 55-foot raise put up
from the third level has passed through
two feet of malachite assaying about
60 per cent copper.
This ore strike was made about $50
feet northeast OF the Hamilton shaft
and the rich ore body just encountered
is the same one through which the
shaft passed at a depth of about 235
feet AS this ore body has been shown
by the crosscut and shaft work TO he
of considerable extent and lacks only
10 per cent of being pure malachite, its
later Development by drifting will
probably prove highly profitable.
Where encountered by the shaft the
malachite ore body had some native
copper occurring with it, but this con-
currence is absent where the ore was
recently crosscut.-News Bureau.
Butte, March 10 Heating Gold
Mining Co, owned ,by Boston, Duluth
and Butte Interests, has been compell-
ed to shut down on account Of labor
troubles.-News Bureau.
Globe. March 19-There has been a
very abrupt diminution in the flow of
water on the seventh level of Arizona
Commercial during the past few days,
the reduction amounting to 3OO,OOO gall
Ions daily. The pumps are now hand
ling only 1900 gallons of water a
minute which, is less than half the
amount handled three weeks ago.
A raise wiirDe put up from the sew
enth to the sixth level in few days
News Bureau.