The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-07-23
CURRENT GOSSIP OF THE C0PPERs

the Specuator Edith May and the Jessie In addition
there are the Adirondack GEN. croesus' Berlin Lynch
burg and Millvew veins which have hardly been pros
pected IT is true the the GEN. and Berlin veins
by prosecuting from the 1900 level OF
the speoulaor shaft and have work done
surface there has been any systematic
and vigorous development of these veins
"Apparently when the rich ore the 1.60O
and isOO level the management lost its head and
Thought the bonanza would They now
doing they should have done long before which Is
Spectator shaft to the 24oo or $500 levels
from which crosscuts be to the northery veins
sooner this better 1t win be for all
concerned
Practically all the talk concerning North Butte has
related Edith May and Jessie veins, and now that
they eaner the 1000 and 1890 levels than they
above stockholders led believe that the mine
has days This belief was by
statement OF r. Atwater Jr in the 1909 annual report
that in Butte it is not usual for body
to barren vein filling then be followed depth by
second ore body. do not how Mr.. Atwater
Giles this statement with the experience OF the
other Butte mines particularly Anaconda. and
agnon all of which encountered the so-caled OF
secondary enrichment after passing through lean ground
following good showing on the upper levels
The controversy between North Butte and the Tue
lurnne believe will settled finally without going
to court The 100000 which is claimed from North
Butte said to he mined I'm Tuolumne
territory by North Butte the absurty
large, and anyway North Butte up its claim the
ownership three this disputed ground
is only about 400 feet of ground possibly
claimed by Tuolumne, and 1t is idle claim
such sum of money. on this basis large part of
North Butte's production four years must
have come from this 400 feet of disputed territory
The stakeholder should not lose hone
now just his property is beginning be developed
l believe the Is more than going pri-
and will sell higher when the present
game concerning it is over"
MANoAs-
Directors of the Mangas the present
to discontinue development and exploratory work the
property This action influenced largely by the ap-
apathec and unsatisfactory condition of the
ket Shareholders evinced no disposition to
respond to the call of $3.50 on the stock and
the company determined to husband its cash
until a more opporune market would admit stock
holders responding to the call Exploratory
at the Mangas property date has been very
tory and when conditions become improved the proper
ty will undoubtedly develop into a very valuable one
LAKE SUPERIOR AND ARIZONA
AT meeting of OF Lake Superior & Ar
iona held this accepted the proposition
pany on the basis as indicated in weekly
July Q. The proposition will be formally submitted
to shareholders for their approval and there
but that the large majority will favor the deal. S. A.
will thus be the scene OF development work more
and those familiar with the property in thr be-
lief that the option 10 be given to the Magma company
will be exercised long before 1t expires
CALUMET AND HEcLA-
The annual report of the Calumet Hecia companv has
been issued this and on the whole presents some
very interesting features The company had total of az
"foo6 at the close OF business April 3d. including
the emergency fund During fiscal year the
produced 7S652G1S pounds copper The rock slammed
showed further decline in values averaging 2744|
pounds of copper to the o rock STAMPED The o.
ceoa lode gave 1885 pounds 17Os in the year
preceding Calumet & Heca has OUTSTANDING ,o,o
amounting to ss.59OOOof which ST. 900 will he due
March 1872 and the remainder seven years later
These notes were issued at the time Bgelow holdings
In osceola, Seneca Tamaracl Laurum Isle ROYAL and
Ahmeek were acquired
NIPIssINo-
shareholders of Nipissng this week received checks
" "'e nuar'ery dividend and with it brief financial
'e'eht Oh the companys affairs 1t shows that Nip
issng had on hand July l. s62s364 which with orc &,
transit ana at smeiters and also sacked at the mine
ready for shipment brought total up to s,1e1sa7
recent advances I'm the price silver y reason f b.a
purchases in India have added materially to Npissng
earnings.
LA ROSE
The quarterly dividend OF two per cen, has hoo. -
eVeo ny shareholders of IaIaose with II was n,aua
brief financial statement shovins, tho , .
on hahd In cash. ore in and ore sacked n toto,
'f@S'oio AS In the case of Nipssing IaRose win ,ro,
by the recent advances in price OF silver Thar
already some talk of extra dividend being doooro,
when the directors of the company next meet for ,,,a
action. ''
SUPERIOR AND PITTssURo-
The buying of Superior & Pittsburr con,,npa. .,