The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-10-15
~OPPERS
BY j. A. MINNEAR
& COMPANY

day II is of course necessary for make
lection of rock do practically all the mines at Iak
Superior. should that practically 60 per cen
| OF the rock being broken is holsted. About p
per cent of copper recovery is copper.
I'VE WORKING, 10 drills and getting read,
to install additional drills.
"rhc Butler and ogama lodcs are apparently coming
together about the 10th level in &C" shaft and AT
point am we will have important
opments.
Our finance are in comfortable position, what il
tcment underground conditions since supt Walker
took hold of the mine management"
INSPIRATION
More than passing interest has been attached to In
rpiraton and it appears as though this stock woud
enjoy considerable advance long due and which
it merits by physical developments the property
Inspiration at the present time is employing well ovc
200 practically all of whom are engaged in under
ground work Little surface work found neces
sary. The main extraction tunnel has been finished
and extends from Keystone Guch for 1890 feet and
opens into the Joe Bush shaft the 800 foot level
The Colorado shaft is also with the Bush
shaft and it is expected that this work will be com
pleted within the month
For some time past estimate the ore tonnage
OF Inspiration has been made but conservative
mates at hama which indicate that Company has
blocked out in the manner that such companies
as the Miami and Ray Consolidated have done fully
fifteen million tons ore. which will average very
close to ~ cent copper.
Speculatlvey, there few of the southwestern
stocks which appear attractive than Inspiration
II is stated though confirmed that the company
has disposed privately shares Of stock at SO
share bringing the total issue up 100000 shares
In. ~
or increases Inspiration win undoubtedly be one of the
most attractive of the lower priced copper stocks
GREENE cANANEA-
Greene Cananea continues its policy of curtaiImen
and in the month of September produced s5G5 600
pounds of copper, practically the same as was pro |
duced in August The silver and gold values have run
off considerably. Greene became more active and
slightly higher early in the week, but the move can
hardly be received significant
SAVANNA
The directors of the Savanna Copper Companv have
issued statement to shareholders together with no.
November 1st which will make the stock $3.50 paid in.
According to the financial statement occon,no,,,,n b
report The company had hand cash october LIST
S6,SO600. The statement reads as follows.
Since the issuance the circular letter IN s,ock
holders under date of June nth 1910 work has bcon
continued as outlined in that letter The progress
III drilling has been good the usual delays incidental
10 such work OF course occurring The number of feet
u1hed between June 9TH. 1910. and September 80 1910
was S'2O' Most of this has been confined to uniop
~ u a'o"s the line dividing the property of our
PS iio" 'Hat OF The Burro Mountain Copper
'' '"o i'''er company bearing portion of the
~ " 'n'ins us per agreement 1t has necessarily
been impossible TO place these holes in the r,st f
loie locations but some the results obtained ha
been very encouraging.
''s oo'i'hed on the northwest line of the
'oS 'iair showed depth of two hundred feet Of mi
"'~'u srouhd carrying chalcote averaging nearly
~ per cent copper and many samples runnir,. ,,au E
per cent One and one half per cont r =, I
uered commercially valuable by many notabi,, h. - =
" our nearest neigNdbors. Our superintendent rou,
' Underground development in this area N,o,ld ro,
IDLY disclose large bodies of higher Grad,
he completion of the series of union holes :, :, -,
continue the explorations on our own ,r, ,
cry favorable area " ' n
Nosts nave been kept down to the Iovos, ,. OF
i''n' WIN good work The to date to this com b
S 'or o'lhhs mas been $151 per foot aftcr ro,, ri
ii proper charges including depreciation
ou'S i'on' 1910 the directors Of this con,n
i''t'u 10 Mr. Price Mckinney of Cleveland ohio r
puoh TO purchase ~ claims in the piro a.,
- - '''er CITY for the of $4,000 10
'Sao'e Ia one and two years time yvnri 49,
upon the old mines and thov h -, I
"'e''u 10 depth of several hundred feet ,r,,.. |
"'S sun retains fourteen claims in the distr,o -,
'e'''' nearly two-thirds of the area originals, ou
O' account OF the present unfavorabe cord,,,a.
:. i - 're intention of the Board OF piroo,-
:. ny '"e expenditures as low as possible M, |
necessary mat The call accompanying th,s 20,
promptly met" 'i's report |
ACTUs- L,
oo, u Oac'us TO below fifty cents a share nit.
eek was one Of the features of tho cr,s, ''i'S
nave lntimated In these letters for sor,o as
'ctus did not appear as though 4, va. '''''e past