The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-04-10


volume Of production therein indicated The hg ircs
simply spell the failure curtan production when
to that added the possibility Of additional poundage
from the southwestern concenratcr properties it il
evident that only the most profound opimist aud
anything to encourage him over the Immediate outlook
Unuuestonably there many properties that can
not make money on the present market and it would
be to many if the news they had yield
ed to sound business policy and had shut down
Feeling that copper health can only De secured
through this line action there many believe
that lower Of metal prices win ensue which
viii eventually force properties that cannot make
money this market to close.
There is beginning be doubt as just how
much the actual mine output Of copper is being
tailed. IN view Of the mountaineering figures shown
by the March statement and in view of the fact that
the prophyrys which have recently entered the
producing ranks, will be in position to show any re
fined" output FOR several months, the March produc-
ton 2O,75OOOO pounds greater than the short
month of February. The output for March during the
past three years had been follows 1911 12o532OOO;
1910, 12oO67,OOO; 1909, 11IO5S7OO.
The natural query arises: what would have been
the production without curtalment"-J. II. cody.
c. & A. AND S. & p
Directors Of Calumet & Arizona and Superior Pitts
burg viii meet in Bsbcc between April 2Oth and 25th,
when several resolutions and other details necessary
to COMPLETE the consolidation Of the two companies
will be given attention. The opportunity will also be
afforded the directors to carefully inspect develops
at each property New certificates Of Calumet &
Arizona stock in exchange for Superior & Pttsburg
shares will not until after this meeting is
held.
arc informed that about eighty per cent Of Sup
erior & Pttsburg shares have been deposited for
exchange for Calumet & Arizona, on the basis Of So
shares Superior & Pittsburg for share of Calu-
met x Each day brings in additional certi-
hcates and the directors confident that it win not
he very long before all the stock will have been
changed.
UTAH CONSOLIDATED +.
Efforts will be made to Dust the present management
of Utah Consolidated the meeting OF the company.
which will be held April 18th. Minority interests
now seeking proxies for this meeting, it said that
the encouragement which they receiving is sufficient
to insure them consideration at the forthcoming meet
ing Apparently, there is reason for the action
taken by minority interests for so conflicting have
the reports from the property official and other
wise. that shareholders in quandary 20 the
exact condition of their company.
According to the last annual statement Utah Con-
solidated earned $65,S4O result Of mining
lions for the year 1910, equivalent to 217 share
on the 100000 shares of stock outstanding The sui
phdc ore reserves were given $4,000 tons. Diyi-
dends were suspended in 1910. The company has
surplus of s3222S9.
eoLDFIELD-
The results Of February operations OF GoldGeld
been made public and are very gratifying The net
profit for the month amounted to $7l9325 Preliminary
estimates for March indicate earnings 100000
ore treated by the company during the month showed
a recovery $3.50. There has been distribution
Of the stock in evidence during the past
IL would surprise all to Godheld reduce
its dividend rate before the close ~ the present year
It outstanding approximately 35OOooO shares, maxi
ing it necessary to earn 100000 per main
tain the present dividend rate.
sHATTucK-
Directors of shattuck Arizona have failed TO take
ton quarterly dividend which would have been
due april GOTH The company made three payments
of 81 per share quarterly.
During the year 1870 shattuck produced 1475OOOo
pounds of copper at a cost Of s cents per pound
showing net profit of 100000, which equivalent
s2Ss per share dividends continued the rate
of 81 quarterly distribution of $1loOoOo would be
necessary on the 100000 shares shattuck
standing. the present price Of metal such
an earning capacity would hardly possible.
The company has been shipping 100 of daily
to the Copper Queen smelter 1t is estimated that 1t
has blocked out 100000 sulphde and oxide
and With only a small portion of this territory develop
ed.
SUPERIOR BOSTON
The feature Of the trading in the local markets this
week was the decline 50 share in the price Of SUI
peror & Boston. ascertain the for this
decline disclosed tangible reason Rumors of vari-
Gus kinds were circulation but rapidly they
were run down, they proved unfounded. The only sat
isfacory explanation is that there some weak
accounts in which Superior & Boston held, and
which had to be liquidated. causing the decline in
question. Superior & Boston. learn from official
source now has more than 100000 in cash IN its treas
lurv It's monthly expenditures have reduced by