The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-01-06
Minnear 4 Co.'S Gossip

/ The Lake Copper company has or
dered a double skip hoist OF the Nord-
berg type. This hoist will take the
place OF the one ordered by the prev
ious one. the contract for which was
transferred To the Franklin company.
In the four months 10 December last
old Dominion has reduced its copper
costs from 9.75 20 S.2S cents a pound.
owing TO the new low cost November
profits were $50 goo or at a rate of ST.
oSO,O0O per annum. The company has
$4,000 cash reserve.
Some painstakIng statisticians are
trying 10 find out how much cash and
quick assets have passed into the An
aconda treasury as reason of the
which were formed
Thus far they have not been very sue
cessfully in their quest.
The beginning Of sinking operations
NJ Indiana viii be hailed with interest
by those who have faith in the proper
ty. II is believed that a little cross
cutting will give a much better indica-
lion of the underground lay than any
diamond drilling has been able to do to |
late.
An Amalgamated interest predicts
hat there are 100000 tons of ore in
iight In the Utah Consolidated. The
Engineers in making their report only
considered such ore as was actually in
light. This seems to be the general
opinion, and insiders have expressed
that within a year the ore
eserves will in much better shape
han they are at the present time.
II is said the Greene Cananea in
he old Greene-Cons. property has
pent S5O0OOOO for surface equip
lents since the new management has
AIKEN hold The ore dressing plants {
the company had practically to be !
abuilt q
Greene Cananea shows 100000 $
ounds copper for 1910, 100000 I
unces OF silver and $500 ounces of a
old. Costs are figured at about liz 0
ants, including every construction I
Spense. =
The ordering Of the new equipment n
as given Lake followers a consider p
BILE impetus toward an optimistic
lew. They argue that the manage
ent would not thus equip unless well n
ssured of the future of the property. p
n official of the Mass Cons says that n
he acquisition of the Evergreen will Il
liable the company 10 effect several s.
forms that it has had in mind for c
any years. Previous to this acqui- n
ton, however, Mass had taken a turn OF
r the better. il
As the statutes Of the state Of Mich Ia
an declare that only a three hfths e.
tie of the stockholders Of a corpora !
IN is necessary to effect a consolida- =
IN, it becomes of interest 10 note how "
osely the G. &. II. treasury holdings u
'NA'f '''A'N' - eAPHA baNlAAltlAt lllt SHY
r cent required. In only one Of the
mpany's namely Laurium. where the al
terest is S3.7 per cent. has G. & II. II
nicieng stock 10 put through the u
nsolidation plan without the assis- ci
nee Of outside stockholders The 70
arrest approach to a sixty per cent &C
terest outside OF Laurium, is Seneca. AZ
which c. & II. owns So per cent of 81
g 10000 shares outstanding. From \
is figure that ratio varies to as low W
1873 per cent in the case Of Isle ca
yale. y great many of these in w
pendent shareholders of Isle Royale III
We expressed themselves as willing y
enter an agreement whereby the pa
operty would be taken over in the OF
opposed consolidation. It is said that 81
interest in a former man 81
cement of the property has the larg- -
{ individual block outside of the c. 81
II. ownership, but il is understood r.
at he has expressed himself as fav- e
able To the agreement.