The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-03-09
This is Conceded at Boston, But
Vote on Merger Plan will
Not Be Taken Until
Late in Day
TWO MINORITY DIRECTORS
Calumet & HecIa Consents to Repre-
sentation of Outstanding Stock
by Two Members. Other
Meetings are Held.

Boston, Mass, March 9.--It is gen.
orally conceded in Boston that the
Calumet & Hecla is in control of the
Osceola meeting being held here this
afternoon. A vote on the merger plan
will not be taken until late in the day.
1t is practically conceded that the
vote will be in favor of the merger.
There are from so to 75 men at
the Osceola meeting. President Agas-
siz is i'm the chair.
The board Of directors elected Is as
follows:
X. L. Agassiz, Francis L. Higginson,
Q. A. Shaw, T. Nelson Perkins and
James MacNaughton, reelected. New
members, II. Guy Currier and w. III.
Dwelly, Jr.
The c. & II. management agreed to
the election Of Currier and Dwelly.
These gentlemen represent the out
standing stock and are acceptable to
those opposing the merger
The stockholders of the Superior
Copper company voted in favor of the
merger today. The vote stood 7s,2O3
in favor and 100 against
The stockholders of Seneca voted I'm
favor of the merger. The vote stood
1885 in favor and none against.
The stockholders OF the Laurium
Mining company voted today in favor
of the merger The vote shows 36,1OS
shares in favor and none against, S6.-
1O3 shares voting out of total of 40,-
COO outstanding. Only $4,000 were
necessary TO carry.
la Sale voted In favor OF the mer-
ger. The vote stood 215,097 against
s7s.
The protesting shares of la Sale FL
ed an official document, which IL asked
to have filed on the minutes. 1t want
ed to know if La Sale could not
make 40 to so cents a ton on a IL or
13-cent copper market. Manager
MacNaughton replied that it would
take II or is cent market to show
any profit whatever under present
conditions, and that la Sale had
no mill of its own and must pay a
custom profit to a mill to treat the
rock
The formal protest says that the
orator was a stoclxholder of Tecum-
sch and changed to LaSalle on the
representation of c. & II. officials;
that they had agreed to furnish the
company with $1,O00.OO0 in cash and
| S75O,O00 for development and that the
last annual report showed over $780,
900 in cash and securities at the Bos-
ton office and that he was opposed to
the consolidation. Therefore he pro-
tested against the voting of the c. &
Ii. stock.
Tamaraek.
( IL will surprise many to know that
! in the appraisal figures which were
worked out i'm connection with the c.
q II. consolidation plan that no value
was given TO Tamaracks mineral ter
ritory In other words as a mine.
! Tamarack was considered worked out
and worthless. 1t has a good surface
! equipment, however, all of which can
be made available in the consolidation.
II has 100000 tons of waste tailngs
or sands i'm which II Is estimated there
is a possible net profit OF $2,400,0OO.
I
/ Der lands, and the combination OF
these three surface" factors worked
out the valuation which the plan has
set forth
Tamarack can never be anything
but a high cost producer. At the pres
ent price of copper it is losing money
every day that operations are contin-
ued. Its recovery from the conglom-
crate lode at depth is very low, and
since the first of January has been
running not far from seventeen pounds
Of copper per ton.
Ahmeck.
II was somewhat OF a surprise that
no note Of protest was sounded at the
Ahmeek meeting yesterday II was
generally expected that a formal pro-
test would be made.--J. A. Minnear
& Co.