The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-02-26
THE STOCK MARKET

4
this week stimulated the copper share market to
degree and caused advance in quotations. The sit
uation is far from being relieved of its completely.
while conditions generally higher of prices.
we look a rather dragging market with the ten-
dency upward, and with interest confined largely
specialties.
| The Tobacco decision will not be announced until
about the middle of next MONTH 1t is believed.
until this is received the situation will continue to be-
somewhat tense. The Supreme court will probably de-
eide unfavorably. but it's decision will undoubtedly
be modified with suggestions kind.
| In the New York market there a number of is
sues which selling at figure returning div-
sufficiently large make them fairly attractive.
particularly when long time money can be obtained
for rate than the returns these stocks Al
long this condition exists break of material
consequence be expected
The Lake Superior copper stocks have the call.
The buying of this class of securities based on
fact that there is greater stability among the Lake
producers than those any other group. Strikes
lailmens ETC.. do not affect the local group any
degre as these conditions are seldom met with in
made should be confined to this class stocks and II
bought breaks ought to show fair profit. We
will undoubtedly have traders market a consid-
cradle degree several weeks come.
THE METAL MARKET
There several large sales of copper reported
this week. the business running well above 2OOOOoOo
pounds it is said. A sale of round lot of Lake
copper reported at 1884, although this is considered
slightly higher than the present market Further in
qury for considerable metal is being noted.
The Butte situation has been considerably relieved
and by next week of the mines in that district will
be producing nearly normal February produc-
ton is reported be about 100000 pounds Butte
la total much lower than reported in years While this
camp is curailing, it has insufficient mater
tally effect the situation. Production of the worlds
copper mines in figures equals 100000 pounds
per day with actual consumption of only 100000
pounds An increase in the consumption figures is
pected
February statistics will undoubtedly show further
decrease in the surplus stock of copper in this
try but will not reach Januarys record. Copper
exports continue heavy.
ADVENTURE
The annual report of the Adventure has been sub
mted to shareholders. on the whole the affairs OF
this company have conducted in the past
with any and shareholders of late have not
spared any effort to make their opinions public No
cement Is charged although it is claimed that
with the opportunities and money available
other board versed in mining could have easily
proven the value the companys property.
The annual report shows balance of assets of only
s1,2S4 but this covered the year ending Dec. 81
1909 it did include recent assessment. 1t
hoped with the money available by the call the
will be in shape to develop mine determine that
its property a mining standpoint has only slight
prospects.
The report states upon the results of diamond
drilling shaft started to intercept lodes No.
in diamond drilling at a depth 700 and
1890 feet respectively. Neither lode showed copper
Lode No. at 1873 feet disclosed little copper
This diamond drilling has given section of
y the entire width of the property and has shown the
existence of three amygdaloid odes Nos. l.
and g. which points showed encouraging amounts OF
the metal To up the situation No 1 lode showed
heavy copper in hole No. 5, little fine copper in hole
No. 6. copper in hole, and No. 10
Lode No showed well in both mass and stamp rock
in hole No. 6 and copper in holes No. 10.
1t is expected that No. 1 lode will be cut i'm the new
shaft being SUNK at depth of 800 feet while the other
two lodcs lie deeper.
Considerable work done the outcrop of the
new Mass lode, the report state with fair results.
Crosscuts were driven in the OLD mine from the Ever
green vein at the end of No. 1 tunnel and on the
shaft being sunk depth feet while the other
both places. The was responsible for
the postponcment further attention these points
LAKE COPPER
Just why there should have some drastic selling
when the Lake company announced the returns the
last mill at the Franklin MILL is hard to say An
analysis of the figures shows that the returns UP
TO 81 pounds of mineral the rock stamp
ed This mineral will about "A per refined
copper Carried out Lake rock in the last mill test
gave 2516 pounds of refined copper the ton rock
True there were many shareholders who had hoped
that the results of the first would be maintained
II there any, still are some who believe such n