The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-03-19
CURRENT GOSSIP OF THE CoPPERs


New York. March is. 1910.
The steady development possible lator troubles.
the in time money and the English Bank rate and
diminished speculation have been the leading factors
of the week.
Speculation has narrowed down pure manipulation
with practically only traders following. has
made prices with negligible results and sentiment
generally Indifferent
Those important banking interests, whose operations
during the February break a rather swelling
tide Of liquidation are believed have sold the
then purchased and holding aloof. This
bned with participation by commission houses
the current fluctuations afford little a larger
forward view OF the market.
Issues of railroad and Industrial bonds continue with
the bulk of them readily absorbed and at better yields
for the investor. Running with this the equipment and
rail orders enlargng and there little doubt
corporation instance doing a business
up its capacity although the really excellent 1909
statement have developed very little bullish
influence at this writing yet think 1t win later,
Judging from precedents in these matters-Nler ana
Co.
THE STOCK MARKET
Closing prices yesterday indicated a gradual i'm
in prices 1t likewise indicates the likelihood
of the market continuing for some little time traders
affair." Until there is something positive. until
the vexatious questions looming up
settled probably will experience choppy market.
Each Monday finds the speculative public anxously
awaiting the Tobacco and Standard OIL decisions. Mon
day may bring 1t forth, and In the event of the de-
cision being unfavorable and stocks slump badly they
should be bought. ,t
Copper stocks have been in fair demand all week.
Offerings very light Efforts execute any large
orders finds the market stocks. This
dition preeludes the possibility of any decline
in the price of copper shares.
THE METAL MARKET
London fortnightly copper statistics We'd
nesday the encouraging feature of the metal
market for the month. The report showed decrease
in the visible supply of OF 1890 TONS the total
visible supply being given 1890 tons.
Reports of good sized lots of copper sold dur
ing the past week have been issued but there
nothing in the buying indicate the likelihood of
higher prices being noted in the immediate future We
hardly expect material Improvement in copper
tations long both the foreign copper stocks
so large and also American surplus remains
above 1OO,OOO,OoO pounds.
LAKE COPPER
A rev compressor has been ordered for the Lake
which viii have capacity actuang so drills. Tho
company is handicapped the present t,me 1t is
able o:eiete only nine drills. the present time
is SIM about 100 tons rock daily &c the
rrorl,in siar1p mill. and it is estimated that the
returns from Ills rock all The cost OK
mining ana ping is given as 81 per tu.
when the company has its sta.,, MILL will
slow a material reduction. Presen; mining costs
~ because of the remarkable width the Lake lode
The through vein the 9Th level dsclos-
ed some exceptionally rich rock AS yet this
cut has not been driven through the vein
The richest rock exposed in the mine is being
ed in the north drift the fourth and closely
the mineral taken from in the Level
above about year ago.
The stock has held up exceptionally well during the
past few weeks with offerings light.
SUPERIOR AND BOSTON.
Assuming that Superior &c Boston will continue to
ship at the rate of daily which will
able to do readily, likely increase, and
assuming that 1t gets 10 pounds of copper per
ore its monthly production win be $4,000 pounds
the red metal. At the present time the Company
shipping which will return II close to 200 pounds
per ton.
Again assuming that 1t sells copper for thirteen
cents pound its monthly receipts this source
alone would be $663OO00. this must be added 81
500 which represents the silver values in the ores 50
$780, While 1t is taken for granted the above figures
be the result of future operations they based
tirely upon operations for the present month
In carrying this line of deductions further it might
be stated that Superior and Boston is spending APP
proximatey $4,000 per month for mining general
expenses or course this does not include smelling
ing and transportation charges, allowing only the
$4,000 above mentioned the net income company
for March, as an example, will be s53,sOO. From this
amount must be taken the smelter, selling trans
portation charges 1t is impossible make any posi-
tive statement this subject reason that these
costs win to the smeter which ores
ETC. In any event Superior Boston earnings should