The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-06-17
SUPERIOR & BOSTON

cent bonds. convertible SO. President Rice. SUI
perlor & Boston. has been in past week
working the deal
as be ascertained 1t is proposed that
Superior snail acquire half Interest in new
company formed take the smelling plant
by Commercial and the stock in the
new company Jointly by Arizona Commercial
and Superior & There several other plans
being the outlined above will probably
be adopted is well received by the large holders or
Superior & Boston in this district
The Arizona Commercial with the lime quarres,
etc. represents an outlay 100000 1t has
pacty daily which be almost doubled
with estimated expenditure of around 10000 The
smeter Is equipped reduce the to matte. This
past further refined to blister copper
at the old Dominion quite possible that
converter will be installed Arizona Commercial
plant should the proposed deal be contaminated
The bond issue proposed by Superior & Boston would
give it half ownership smeter at outlay of pro-
badly 100000 would provide the treasury with
ever OOO sum @hch would undoubtedly finance the
company for all time to come. is this factor which
makes the plan acceptable local interests The bond
issue IL decided upon viii be fully underwritten
Developments at McGsw shaft at the tenth level
indicate Superior & Boston is developing very large
body the Eastern vein The drift in over
100 feet all in ore No has been made on
The company Will have over 40 on 'he VEN
before IL reaches the Arizona boundary line
raise to will be started soon about 200
feet from the point the vein intercepted on
the tenth level 1t quite likely wnze will also be sunk
to the twelfth level providing the ventilation
In drifting ore sufficient FIJI the bins has been taken
cut and 1t will necessary for the company to ship this
The announcement OF the poposed plan was the signal
heavy buying of Superior Boston, and the confrma
ton OF the news give further impetus to the Issue
Superior is in strong position marketwise and
should do better.
SOUTH LAKE
Supt Forbes South Lake. has been In Boston Tor
the past week comforting with the directors of the com
pany II is shaft will be started at once
nd before the summer progresses further second
will he started to explore very promising veins which
were disclosed diamond drill operations at the prop
1rty No Of the plans for further hnancns
South Lake have issued. but is quite likely thai
shareholders will invited to subscribe Tor treas
ury stock probably the rate of IS per share South
Lake has outstanding $4,000 shares, leaving 10000
available for present needs
SANTA RosALA-
The Sonora News CMexico) comments follows ON
Santa Rosalia Work was resumed at the property of
the Santa Rosalia Mining company the past week Al
though the force is it is sufficient for the
present company is at present arranging Tor snip
men to smelter and it intends to make shipments as
often as possible good has been encountered
which will be extracted and shipped Two tunnels VIII
he run on the Los Angeles claim. and there will be some
additional work done the main shaft The equipment
at the mine is in class condition
GREENE cANANEA-
The annual report OF the Greene Cananea subsidiary
conpapies has been issued and whole shows very
satisfactory state The Greene Consolidated re-
port for the year ending December Slst showed net pro
At of $4,000 charging off for depreciation con
sruction etc. s6S4.097
The gross operating profits s11s475O from which
was deducted the depreciation above indi
Gated owing to great amount of development work
done the cost of mining increased from 1922 tor
to s275 a ton
Concerning developments at the mines General Mana
ger Ricketts, IN part has the following to say;
"The most important developments In the Sierra
de Cobre property with exception taken out In
development down. the body opened by former
owners on and third tunnel levels has pro-
duced output, and there remains above the
third tunnel than half of the ground unstoped
With very considerable possibilities for further develop
ment We have found large body containing about
3e copper and notable silver values the Combination
tunnel level about 700 the Eureka shaft and
wa have reason to believe that we get practically
continuous series OF this level to the
face II also appears that Eureka shaft which may
ne an extension Capote fault was formed prevous
to the period naturalization and from the discovery
eossan and some If these would be bonanzas
of ore along this fault plane.
ore shipped during the year averaged between az
and Oh copper trne over four ounces silver 90
or 30 cents i'm gold"
suPER IoR COPPER COMPANY
II cost the Superior Copper Company 1929 cents ii
pound to produce its copper The rock treated
ran 2264 pounds ton stamped against 2S2
the previous year During the fiscal year ending April
Oth Company produced seS2OoO pounds OF copper and
received for this average price of 1858 cents perl