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

far this year. and OF the most prominent share
holders this company the authority for the state
that the company would DE in a position begin
the payment of dividends before close pres
ent year metal conditions remain they
improve With copper thirteen per pound
ings for viii seventy and slr
per share on Superior & Pttsburg stock
NORTH BUTTE
AT the regular meeting OF the North Butte directors
held this week in Duluth the dividend from
SOC per share The dividend is payable July 2Srd
Readers weekly letter last Saturday will recall
therein contained that the earnings cf
North for year ending totalled s75i
Gil on 10000 shares of stock outstanding. This
was equivalent than $500 share showing the
necessity either cutting the dividend drawing
the surplus enough maintain the pre-
yious rate decision pay but sOc share. for
this reason much a surprise might have
otherwise been the
At the meeting directors authorized the following
AT the present time extraordinary amount of de-
velopment work being vigorously prosecuted in the
North Butte mines. Two shafts being opened. De-
velopmen both the Edith May and Jessie veins
is being prosecuted the 1000 1900 foot levels and
below the 2.2OO-foo level the Edith May. well
extensive development claim the remain
ing part of which recently secured. cont-
guous property This development work is disclosing
additions TO the reserves in the mines The winze
below the 2,2OO-foot level the Edith May still
tinues high grade the development
the claim contiguous property is discos
ing of excellent grade In view of development
work and additional expenditures required this
purpose, directors deem it proper this time to1
declare a dividend of cents per share. completed
report OF the mine development analysis of de-
veloped forwarded stockholders with div
dend checks"
The complete report of the mine development will bel
looked for by shareholders eagerly and it is expected
that it will be rather inasmuchI
whatever news has been given with the official
stamp has indicated Improvement underground
conditions AS a result the cut dividend rate.
North Butte has held up quite satisfactorily, and
believe that the stock If bought around present
prices. substantial profits in the next six
months TO
The talk of the further consolidation in the Butte
camp whereby North will be by Anacon-
da continues be very much in evidence.
MIAMI
Globe correspondent advises that the 9Th 10th
18th 1ith northwestern
portion Of property have schis front
surface, but yet have encountered TheseI
holes put down chiefly to confirm calculations of!
the management to the northwest boundary of theI
main body. Rapid progress is being made on theE
construction Of the concentration be used by tieI
Miami. is hoped this plant in operation|
about the first year. The management is now
negotiating the of The
satisfactory bid received far from the
Copper Queen, but this bid for the treatment OF theI
concentrates rejected
The question of a satisfactory water supply n|
the concentration OF Miamis is a matter which,
vii caus the con-
when operations undertaken a broad scale.
NEW BALTIC
Ground was broken this week the shaft to bel
sunk on the property OF the New Baltic. The over
den is about Is IT, deep and this will be stripped and
the shaft sunk the lode The site of the shaft Isl
close TO No. diamond drill hole where the vein mat
disclosed this boring proved very satisfac-
tory
The will be under the direction of the general
manager j. p. Edwards New Baltic has funds sufi.
Client in its treasury carry present plan
veopment work for at least another year No
expensive equipment will be necessary in the present
| lire work
| oNEco-
| Two diamond drill outfits work the Oneco
entirely new cross section OF prop
| erty The holes designated No. and No. o.
No. hole has been 700 IT. but yet has dis
closed mineraized veins No. hole is down about
$50 IT, with positive results. Oneco has about $4,000
| in i'm treasury.
| HANCOCK
Hancock of the active curb features during
past week, and advanced from 81 $40 with the
demand for the stock very good There is particular
news how account for the strength in this issue
Offerings at time been very heavy that buy
ing orders have been rather difficult fill without ad
vancing the price of the stock.
Sinkin at No haft has beon tenn iscon
tinued in order permit the construction the new
steel rock house. Sinking will probably be resumed
within the At No. shaft the winze