The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-05-06
HANCOCK CONSOLIDATED

prominent mining periodical was out with
the this Consolidated was
getting twenty pounds copper per The stock
was tipped by eastern houses substantial adj
vance. 1t sold up to 24 where limited offerings
not be marketed
President Cuddihy states that company will make
no statement Of milling operations until well toward
June l. lie decries the plan of giving daily reports
they Indicate nothing of positive being
the any effort state positively the
OF milling operations put as lacking
any authenticity
We doubt very much If Hancock win be able without
close selection to twenty pounds Of per
of rock stamped. a would DE too good to
be true. 1t is claimed that the of
cock indicated approximately twenty pounds
What selection then made is impossible state
HancoclSs future profitable mining enterprise in
our opinion. with the Pewabic vein. While
liz is true the west lode is valuable asset little
is yet determined to pin great faith to It, We
the opinion that if the west lode show
of fifteen pounds for long period Of refined copper
per of stamped shareholders graft
fled. II will take probably the year to reach
the Pewabic lode in No. shaft adhere to our oft
expressed opinion that when Hancock opens this vein
has its mill and has fully itself it win be
a property Of merit equal to Quincy. the meantime
we would suggest more careful investigation of
suits from the lode before becoming unduly en-
thusastic the property.
CALUMET & ARIZONA
The announcement Of the selection OF w. e. Corey
a director of Calumet Arizona agreeable
surprise to the majority of shareholders of this
Gently enlarged company Mr.. Corey was formerly
president of the United States Steel corporation. His
association with copper mining interests Is of
than passing significance. the closer amalga
nation the so-called steel copper interests 1t
also tine furtherance OF the plans for unifyng
the several copper factions in this country.
There were other changes in the Calumet & Ariz
ona board with eception of Corey Henry r.
Rea the having a member of the Superior
Pittsburg directorate representing the oliver inter-
ests.
New Calumet g. Arizona certificates in course
of preparation VIII be mailed at to Superior
Ptsburg shareholders who have deposited their stock
for exchange.
| At the annual meeting held last in Bisbee prac
tcaly entire board present The directors were
also given acquain themselves thor
loughy with the plans for the future Calumet & Arz-
lona will considerable its smeter during the
year.
private learn that the directors who
visited the Calumet & Arizona holdings greatly
The orc body which receiving attention this shaft
promises prove the largest yet opened in the Bis
bee camp The forthcoming dividend continues to
cupy considerable attention. many optimistic
shareholders believe will be maintained at
81 per share In view the construction ahead OF
liz and present selling price of it is hard to
conceive how the rate be continued long unless the
metal market shows rapid Improvement
g BUTTE COALITION
In selling up to s1sA this week Butte Coalition
fairly active although for months past
been traded in little Coalition to be
quietly absorbed by interests undoubtedly
ciatng possibilities of this property Butte Coali-
ton is easily worth at least 81 share more than
one-ha the selling price of Anaconda Ut should be
remembered that Butte Coalition now proper
lty but depend entirely upon the income de-
rives from its Anaconda holdings AS long Anacon-
da is able continue it's present dividend dsburse-
ments Butte Coalition need expect cut
in their quarterly income from this Coali-
ton treasury balance of close to sOoOoOO or about
81 per share
Butte Coalition has $4,000 shares in its
treasury 1000 international Smelling.
Dividends these holdings total s1O70OO0 against
auirements of Si.OOOOOO In addition the treasury is
. increased by the interest the surplus.
il WYANDoT COPPER COMPANY
t The annual report of the Wyandot Copper Company
week, encouragement i'm the way
of developments On No. and No. s lodes. However.
the Company plans continue its long crosscut until
liz reaches the southeastern boundary line. The man.
arement proposes to conserve resources until such
time as the copper industry improves, when a more
aggressive campaign of development will be
dertaken
According the annual report the company has net
surplus in addition to which there is due on
unpaid assessments slightly than $500
Superintendent Van orden recommends the extern
sion Of the from No. II shaft and also the con-
tnuance of exploratory in what is known the