The Calumet news., 1910-12-24

opening up its property rapidly and the ras,,,
even more favorable than the most sanaune av
uohs' Together the two properties will mako ono ,
the most attractive combinations the copner mimi
world with It's increased capitalization and aas
"oh OIL superior Pittsburg. c. & A. will have stool
enough outstanding to make it attractive from = So
uatise standpoint Several directions of the two 60.
ranies advise that with copper at thirteen c,
the two companies will easily earns enough >, con
unue payments of 81 quarterly the increased G
A. stock. Tue dividend Superior & Pittsburu s,,oL
viii not be paid unit atout April L. 1911.
NORTH BUTTE
North Butte directors met Monday and annonrcoo
the quarterly dividend of thirty cents a share nav.
able Jam 21st to stockholders of record Jan 7tb rh
dividend was the paid three months ago and
no change expected. With dividend lust do.
cared, North Butte since its organization win bov
paid s229O a share.
Recent Developments at the property are said to
have been very favorable, and while the management
is making efforts To give this news to the public
private adviees from Butte Indicate that property
is rapidly rounding in shape. It will be in n no
ston increase production fully thirty per cent 90
the metal market warrants this step Tho
Granite Mountain shaft begin to hoist ore at anv
time, and is sunk a depth of OO-feet and
is connected with all the underground workings from
tO
continue sinking will be established at
depth of 24oO. $500 and $500 The extension Of
laterals to the Croesus claim northard resulted
I'm the disclosure of substantial ore bodies Al
the present time. North Butte employing $50 men
regularly hoisting about per day and
is producing close to two million pounds copper
monthly. During the 1910. sinking and lateral
work otalng approximately 10000 will have been
done
The buying of North Butte of been rather
significant. and told that the accumulation is
going for the account of the interests who
we're prominent in the selling of the stock $4,000
share down.
ToNoPAH-
Net earnings fer November amounted to $115,OOOOO
slightly less than october. During the year 19lO
earrings of TonoG Mining approximate two mil
lion dollars $4OO 100000 in excess of dividend re-
quirements at the present rate disbursement
opah is accumula ing considerable surplus, it ls
understood that an official announcement will be made
shortly concerning the acquisition of in the
Sierra district, far distant Tonopah's pres
ent holdings. Tic Sierra district is which a
considerable producer of precious years
ago, large bodies of having been developed. The
Tonopah experts have viewed the property favoraby
low grade proposition. and believe that the
cellent equipment that the company possesses,
the property ce made be very profitable
producer. The that the company had plans
for nauguratng policy of expansion caused
uneasincss The theory that the old property
being rapidly exhausted. necessitating the acquisition
of additional territory However, Uniformed
from reliable that such is the and
that Tonopah today has more ore blocked out than
in it's history, and that the present of
duction. it maintain its present earning capacity
for at least another decade
The stock has been trife easier during the past
week for the above outlined, and when It
sells exdividend December s1st. it will undoubtedly
sell off at least the dividend However,
the recovery should gradual. and $500
share regard the stock attractive issue.
NATIONAL MINING AND EXPLORATION
Shareholders National Mining Wilt probably
ceive announcement in the course of the next few
days concerning proposed plans reorganization. 1t
is intended present shareholders twenty cents
share. and exchange their stock for new issue TO
be known as the Iron Cap Mining company. There VIII
be both common and preferred stock outstanding the
property In the Globe camp owned by the National is
very favorably regarded Is worthy of further at
tenton 1t is hard say this writing, just how
the plan of reorganization will be taken by sharehold
SOUTH COLUMBUS
There has been opposition developed to the
consolidation of South Columbus and Alta & Hecla'
although II has not assumed serious proportions wal
ter L. Mas, a mining engineer of Salt Lake city Is
leading the minority interest and in communication
issued to shareholders in part: II do not recos
nize the legality Of the OF the property anu
assets of South Columbus Consolidated Mining COM
pany to the called South Hecla Mining COMPANY
and shall at the proper time demand such propo'
tonate part of the assets and real estate of the so
Columbus Mining company Is represented by W,
number of shares of the capital stock of the sou'
Columbus Mining company may be In my posses