The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1910-11-15
MINES AND MINING, STOCKS

evident that its production Is going L
diner scarcely at all from that OF las
year. when IL produced 4..5i7.OO'
pounds, and it is hardly conceivabl,
that It's total cost has been very great
ly reduced.
II is therefore evident that the earn
ings will be approximately the same
as those OF 1909. when the company
reported about 20 cents a share
There is certainly nothing in such a
performance, however creditablc II
may be TO the local management. to
warrant any advance in the company's
shares.
The recent strength in the stock
must therefore be attributed to rumors
OF some kind of amalgamation of this
property with others controlled by the
same interests.
Utah Copper.
In the quarter ended September
Goth the Utah Copper Company pro-
duced 23194.921 pounds of copper, at
q cost of S.25 cents, as against 25,124,-
052 pounds In the previous quarter, at
a cost OF 1853 cents.
The total net profit for the quarter
was $l.329,9 500. as against Sl.54S.979.
The slight decrease in production.
and the higher cost, is accounted for
by the treatment OF a decreased ton
mage OF lower grade ore. During the
month Of July all three of the COM
pany's concentrating mills were In OPP
Grafton. At the end OF July, however
the Coppertown mill was dismantled
and its machinery transferred To the
Arthur plant This, OF course inter-
fered with the operations at the latter
plant. so that the burden of the quar-
ter's operation fell upon the Magma.
The remodelling of this plant has
been completed, and it has now nor
NAL capacity i'm excess OF 10000 tons
a day. OF the total ore produced dur
ing the quarter. about SO per cent came |
from surface steam shovel mining, and |
Il per cent from underground
There are now II steam shovels |
working on this property, and the
three new ones that have been order |
ed for stripping the overburden on the
Boston Consolidated ground will make
a total Of twenty With this force in
it should not be very long |
before practically the entire ore is min
ed by steam shovel. Construction work |
on the Bingham & Garfield Railway is
rapidly. and the open grad Y
ing is about 20 per cent completed.
The connection between the San Ped
70 Railroad and the mills will be COM
pleted before the end of the year. and
the entire new line should be ready
for operation some time during the
second quarter Of next year.
In the first nine months Of 1910 the
Utah COPPER has produced $500. 900
pounds. al a cost o. just cieht cents
a pound II merely this average is
maintained in the last quarter Of the
year. the company viii have produced
in 1910. s0000.0o0 pounds. at cost Of
cents a pound.
We can think n but one other single
property that. in both volume Of pro-
iUction and in cost. can equal this rec
lrd
when the remodelling q its mills is
'ully completed the company will Doe I'm
q position 20 better even this record
Dy fully 30 per cent
Miami.
II Is significant Of the highly devel-
)ped state Of the Miami mine that Of
he total force employed Of coo men
Jnly 100 are engaged in underground
work. Only a comparatively few fin
shing touches remain 10 be made on
he surface equipment and it seems al
together probable that the plant will
start mp on the scheduled time. jan
nary ]. 1911.
The result will be watched with a
great deal Of interest. not only by the
stockholders Of the Miami Company,
but by those interested in other SINH
ar propositions. as the results OBJ
aimed at the Miami viii give another
inc on what may be expected from the
other properties.