The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-09-24

ery possesses real merit future assured The
shattuok mine ready for its reduction plant
a solid safe and substantial investment irrespect-
i've Of stock fluctuations solely on the
maintenance advancement Of present metal prices
and Intelligent and economical mining. We commend
the eterorse as a clean cut mining proposition with its
future assured"
The foregoing commentator from such able gentle
men in their profession, for such substantial
and time -honored organization the Boston Stock Elk
change, surely very attering recognition of tbs
value of mine.
We own the absolute of the property. which, with
equipment underground development work. is fully
paid for the company has Indebtedness OF any
report of treasurer. which follows viii give
you clear idea as excellent financial condition
of our company In our assets the item. MET amount
due for ore sold sSS9S571" represent the net income
we win receive from smelter after they have made
their deductions all smelling. selling and refining
charges.
We have hand today cash and money due US for
sales OF ore already made the of $60529S75 which
belongs to our stockholders on July Goth, 1910 we
paid to our initial dividend of siOo per
share, or s35O,OOoOO.
FREMONT
The annual report OF the Fremont Development COM
pany brief Of the progress Of de-
velopmens is contained therein, and is follows
"The developments at your property since August
have been highly satisfactory they will be reviewed
briefly taking up the detail of operations From
the bottom the shaft at depth of s5 feet the
vein was opened by prosecuting, and drifting east was
started This drift extended 100 feet and the
vein shows continual widening At the end of the drift
it is nine wide and Mine Foreman Frank Meyer
made careful sampng designed to give average con-
dons Of the vein from wall to wall at that place An
che cantc
small amount of silver.
The property controlled by the Fremont Developing
company consists of three fraction claims, com,
prising is located about is miles north OF
Shoshoni wyoming. the nearest railroad point It's
demonstrated values in strong quartz vein
which strikes by little north and dips south at an
incline Of 10 degrees from horizontal The prop
erty extends moro than 1880 feet in the line of the
strike At surface vein shows width of from two
to four Before your company secured control OF
| the property shaft mad been sunk to as feet
Acting upon recommendation of your consulting
/ engineers Messrs Pritchett & Hamilton Of Denver,
new compartment shaft located 10 feet west
of the old shaft the center of the property II
has sunk in schist short distance in the foot
well the vein a depth of IS feet The timoerng Is
SKIS oregon pine, the five feet apart Jagged with
2x12 plank collar rests bearing timbers 10 feet
below the surface reached the property to begin
work April goth the machinery ready for serv-
ice June 10th by which time the shaft had been sunk
So feet b., hand labor July 18th the cutting Oh the
ton at the s5-foot level began.
The crosscut the bottom of the shaft was driven 10
feet and on August st exposed ven which was on
~ eight inches wide the narrowness being the result OF
q dorite Intrusion Drifting was started east Directly
toward the old and within 20 feet the vein Wild
ened to IS inches exposing consisting OF green car
Donates oxides and some copper glance AT so feet
from the crosscut is three feet wide at 20 feet
e &c four feet wide at los feet feet wide and
at 12O feet IT nine feet wide. short distance from
he end of the drift Cor 10 the crosscut)
raise has been upward to connect with the ole
shaft which will improve the ventilation and explore
the ground.
4 heavy flow Of water encountered at the 95-foo
level reaching 1000 gallons per hour. After draining
the vein and old shaft the flow diminished SO ina
it may be easily handled and sinking resumed You
consulting engineers advise sinking the shaft to tn
2oooot level and developing the ground there durin
the coming winter that by spring two levels VIII
opened for Stopping and shipments may begin.
An examination has been made at the bottom OF tn
old shaft since the drained from it, Tn
vein is found eight feet wide and contains good lookn
copper. ore including copper glance
Comfortable sleeping and eating camps have bee
erected for The accommodation Of "a and the oth'
necessary buildings and shops have been provided o
all surface construction is limited to bare necessiue
A large supply OF wood is being provided to carr
E through the winter
, The shaft is equipped with Fairbanks-Morse gas
line hoistng engine having rated capacity of 80 hors
mower but at the high altitude it does not exceed
horsepower. Gasoline pumps and ventilated blow
r have been installed.
is very probable electric power will be avaiat
v from the Boyson dam next year We have reason
believe that the cost will be about 500 per horse-pow
II per year.
d SUPERIOR & PITTs8uRe-
), The production for August was announced as 252OC