The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-01-15

which should remembered is that Indiana has out
standing only about its OoO-share
capitalization. financing will probably fol-
low closely the line adopted in financing Lake that is
the issue treasury stock In the market when
further funds are required which win probably
this year.
Indiana owns the territory upon which the conglom-
crate lode outcrops.
tanned fully large territory
by this rich vein.
North Lake laggard when Indiana first NOV
ed upward was not slow to respond Thursday
found It the total sales for the day
almost one-half OF It's sntire capitalization. North
Lake has been pushing its campaign o exploration
with vigorous hand. 1t has troubled heavy
aoverburden. While has been issued at any
Ttime it is known that diamond drilling has brought
up showing veins carrying commercial
values. North Lake is strong a position as
Indiana for The that all OF it's
issued and it's funds will probably be exhausted be-
fore the close Of the present year This will
tate the call shareholders money
South Lake has been laggard in the Lake
group, and while there been developments
the property any Importance yet the
fact remains that occupies a very importan:
position with relation neighbor to north
the Lake Diamond drilling under way at the South
Lake property Lake lode is not expected until
this hole or the drill win probably
several other veins before reaching upon
this fact rests considerable speculative value.
Lake naturally stands peer OF the district.
In leaps and bounds the until it sold as
high as 500 during the just closing While this
gain all held, yet the stock apparently is be-
ing well bought the being picked up by eastern
interests There considerable selling Of Lake and
the investment the proceeds the lower priced
neighbors.
While the developments the Lake group of pro-
perties during the past few weeks have been of
phenomenal nature, the fact should sight o:
that these issues have all enjoyed a tremendous adj
vance and that reaction OF considerable degree
be looked for The public taking large blocks
of stock and while it necessary bid price up
rather sharply, yet there has been distribution CT
the stock noted believe should
be let severely until they show a material re-
action, and then only should they bought. 1t would
be the height folly them on after an adj
Of 100 per 1t will be several years
before any Of them except Lake itself will a po
siton to produce any copper and during this time
they all will have their ups down. At neither tina
South Lake, Indiana Lake has any actual
mining been done in recent years. Diamond drill
indicate what might be expected, but it
actual mining operations to prove the worth o:
any property whether Lake Superior or
any other mining district the world.
oJIBWAY-
oiibway yesterday cut the Kearsarge lode No
shaft in diamond drilling, the lode being found very
well mncralized. The lode at the sOO-foot level had
faulted and for the management searched for
it, Finally a diamond drill rugged up by
of this the lode finally located again
Yesterday the company drills one ut
the 500 level the other level
. shaft towards No. 1 shaft At both these points
the lode where cut showed good copper values
oNEco-
This issue has extremely active during the past
week selling high $50 per share. The diamond
drill showed the vein twenty five wide and
carrying excellent copper values for twelve feet.
report the property sent the companys
office yesterday, and upon its receipt will prob
ably than passing interest among Boston
investors
SANTA RosALIA-
party directors Rosaia will be at the
mine week for inspection of late developments
a property The road being built will prob
ably practically completed uro their arrival
property. this road is about fifty miles long
different decided upon than consid-
cred necessary taken building than
at first expected Reports from the mine continue
to be very favorable Greater undoubtedly
be developed upon the arrival of the
directors the mine.
ELM RIVER
Negotiations pending the acquisition OF ad-
dtcnal property by Elm River. The company finds
property adjoining its present hold
ings which offer excellent prospects, and working
on a deal for this land informed. AS
gamble pure and simple Elm River offers posi-
bites but It will take many month before 1t de-
velops any positive the OF interest
continuing attached the Lake group of stocks
Elm River viii be found to show a sympathetic