The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-06-25


purpose
Tho developments at the Lake property during the
past few disclosed material change The
Wien at the fifth opening up very satisfactorily
A recent estimate was made of the amount OF rock
Lake has blocked out this given being in
excess two million The Lake directors hope to
demonstrate that the property will be able to show 25
lbs. of refined for every ton of rock stamped
Should the company succeed in maintaining such
record its stock at the present price unquesonably
cheap. However judging from the figures obtained
the recently issued 20 lbs of refined
copper a rather high figure which the company has
to attain
ARIZONA COMMERCIAL
Globe correspondent yesterday wired that both
west drifts at the 9th and 9TH encountered
high grade carbonate ore, IT. wide and go and $50
IT. respectively from the Eureka shaft approximate
Iy from the eastern boundary of the National
Mining and Exploration property.
= The annual report o the Arizona Commercial
recently issued contains little that has not al
ready relative to the physical condi-
ton the property The financial statement as of De-
81 1909 discloses excess of liabilities over
assets. amounting s31s9O2. This liability, however.
has been entirely provided by the bond issue
VICTORIA
Supt Hooper the Victoria in recent communica-
{ton to the home office of the company develop
nents of the property has the following to say:
con 18th level of No. shaft, since March
H. opened $50 feet of this is good
stopping ground. Since Feb. we have opened, on the
18th level east 1907 feet all of which good stopping
ground the 22nd level west, started to drift
west on the vein on June TO- it very rich
4rhe 22nd level west stope has a very good of
mass barrel copper for the past two months The
n mi in
Hmonths.
The new shaft down about go feet Have cut
tation correspond with the 9Th level in No. shaft
md expect to start sinking at We are not get
VI ing any copper but the rock Is very promising
healthy looking amygdalod. In cutting the station
lid get hanging showing that vein is getting
wider with depth. We about 200 feet to to
reach depth diamond drill hole No. II cut the
copper 1000 feet further east
We expect to complete field survey river
or further developmnt of the power this month
We have three in the Office plotting this work
= md have had in the field most of the time
since Feb 1.
The 22nd level is the lowest level in the mine.
AroNoPAH-
n The directors of Tonopah met Thursday and in
the quarterly dividend IS cents to 40 centn
share. The dividend announced as 25 cents reg
uar 5c extra and is payable July 21st to share
bholders 3Oth 1t generally expected
directors would increase the dividend and the
optimistic shareholders hoped for so cents dis
bursement Tonopah has been called upon to expend
considerable money railroad equipment etc. and for
this reason increase so decided
1upon. Earnings the present time estimated to be
= well above $500 per share per annum
developments in diamond drill operations have
very gratifying and indicate that Tonopah will be
property whose life will much extended by
disclosures That the property has
mercal at depth in excess of 1000 feet has done
much to make this issue favoraby considered by those
who heretofore have questioned the ability of the
pany continue profitable operations for any great
IVlength OF time.
*cHIEF CONSOLIDATED
The activity In Chief Consolidated this week
is attributed to effort to accumulate long line of
stock rather any sensational developments of
Eproperty The which has been received from the
mime from time time the home office of
company at Houghton. has gratifying but Of no
unusual nature.
The FIRE caused only trivial damage, and
not nterfeed with operations the mine
Mailed any loss 10 the company.
Il The hoist viii be Installed very will
make possible the sinking OF the shaft greater depth
kThe buying which the from s125 $500
5a distributed through the Iron Country
also ON any reaction Chief should be bought
There is talk initial dividend being by
6nrst OF next year
ysHATTUcK-
shattuck II producing close two million pounds of
&copper month. the being shipped the Copper
Queen smclter. Earnings estimated be between
Es125,O00 and 100000 per month Recent estimates
the blocked 100000 ore, which
average and half per cent. Arrangements are
now being made to list Shattuck stock the
exchange.
The first dividend declared by the company will be
payable to stockholders July The dividends in the