The Calumet news., 1910-09-22
Gay & SturSiS' Gossip

AS an indication or what Ahlheeh
will be able to show in the way of
low cost of production the figures
shown by the monthly cost sheet are
interesting. During August the cost
OF the finished metal excluding con-
struction; eastern expenses and
transportation. was just under sew
en- cents per pound, construction
charges. including sinking and equip
ping of two permanent threc-compart-
mentment shafts. was about two cents
per pound additional. Adding To this
the cost of transportation and east
ern expenses. the total cost per pound
of refined copper laid down in New
York was slightly less than 10 cents.
The significance OF these figures
will be better appreciated when it is
considered that but two of Ahmeek's
shafts are now producing, as against
four later. and that in this production
the output is made very largely from
rock taken out in the course of de-
velopment work by drift stopping
which will grow proportionately less
after regular stoping-a far cheaper
operation in rock eXtraction-is COM
mencod.
Calumet & Hecla has probably two
weeks more work 10 complete the re-
pairs in the Red Jacket shaft. These
repairs have caused a suspension OF
two thirds of the regular output of
that shaft. In other words the former
output Of 1880 tons daily is reduced
TO less than 700 tons. As the Tam
arack also is restricted in it's output
on account of repairs i'm No. 3 shaft
engine house the c. & II. stamp mill,
which treats all the rock of both prop |
critics. is working only about two
thirds capacity.
Contact Is driving the pipe through |
the overburden for it's third diamond |
drill hole. The location Is close to the |
center of Section 13, south of Elm
River.
The two preceding holes, which ex-
plorcd the southeast quarter of Section |
13, exposed Only eastern sandstone.
The present no. hole will, when
completed overlap and "tie up with
the driiiings Of the other two holes,
completing the exploration from the
middle TO the southeast corner Of the
section.-Gay and Sturgls.
Tamarack has completed the repairs
to the hoisting drum at No. shaft
and production in going forward at
normal rate again. The curtailment
which was occasioned by this repair
work lasted only about ten days.
Duluth Sept. 2l.--North Butte divi-
dend is payable October 22nd to stock
Of record oct. sth, books close oct.
10th to oct. 22nd both inclusive-Gay
& sturgis.
Calumet Mich. Sept. 22-The gen
eral market, while it did not show
any marked strength today was on the
whole encouraging. as there seemed to
be a better demand for stocks all
through the list. especially the better
class Of railroads.
The Boston market held well. Tam
arack was in demand with sales at
81. Indiana opened at 10. later selling
down To IA SIS, Lake sold at 33h all
day Shattuck ranged between 24h
and %. Shoe Machinery was the fea-
ture with sales recorded as high as
58H.
chief Cons. in the curb list was
strong with bids OF llk untitled. Ton
opah was also in demand with sales
as high as 9h. Calumet Il Corbin
was bid up 90 as cents.
There was consistent tips out To
buy the New York market, this being
based on the easing Off OF time money
and the high rate Of dividends being
returned on some of the leading rail-
road issues.
Boston. sept. 22.--Sales OF several
million pounds Of copper are reported
to have been made for export on a
basis OF 1914 cents a pound. This IL
from X to u cents below the so-called
official quotations. The large selling
agencies and producers continue TO
quote Flcofrolytic Copper i2ss to 12A.
but these quotations are being shaded
by the smaller ooncerns.-FInancia
News.
Ojbway has opened n very good
grade of stoping' sreusd for the length