The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-01-03


month or between the two last dividend payments tn
net profits are said to have $500 100000 The in
crease in the price of silver is important II
the earnings of Kerr Lake, 1t has been to all
mines In that section Based the quotation for
Vemoer ob6 cents per ounce compared with 51.5
per ounce for 1902 would indicate increased earnings
for the Company the OF si2OOOOo 90 per year.
During 1870 Kerr Lake will paid four dividend.
of 10 per cent each, aggresatng $500 per share OF
s2OoO0000 the 100000 shares stock ndiny
on August 81 1910. the holding and operating com
panes had little million dollars I'm cash and
quick assets. About the middle December the treas
ury further drawn upon when Kerr Lake took over
control of the Wettlaufer property silver property
! located south OF the Cobalt i'm South Lorrain
In as mach Kerr Lake is now paying at the rate
OF $500 per annun the par value $500 a share
the yea of 80 cent this basis quite remarxa
BILE 1t is probably the highest yield any established
mining property in which there is so large a public
interest VI course the whole question involved Is the
matter oil the life of the mine. which prop
critics is today still considerable conjecture
In fact for precedent necessary to go aasax
TO the boom days of Nevada of forty years ago.
and whether Cobalt is repeat those experiences n
Is dinicnlt TO II is impression however that
geological and neurological conditions of the Cobalt
camp have not yet been fully understood although the
theory has been disproved which was first advanced
that values would continue for only fifty one hun
dred feet There is doubt that the stock is very
iavoraby regarded in the East. and around its present
selling price it is very attractive.
FOR those who have confidence in the future of the
camp Kerr Lake probably presents greater possibilities
than any other issue in the Cobalt district
SUPERIOR & BOSTON,
our Globe correspondent Thursday sent us the fol-
lowing COMMUNICATION concerning very important deveo
ments at the Superior Boston property:
1.-THE drift being driven westward on the C,eat t,,
ern vein at the 500 level Superior e. Boston IL ooo
feet from the intersection the crosscut from, tho
McGaw shaft The face OF the drift during the mast
Few days has been in cuprte native copper. run
ming very high in IRON 1t is expected thar with Tho
driving OF this drift few feet further the ore body
which was found the sixth level and from, which
shipments were so proftobly made will be encountered
IN addition to this communication. we were in recent
Oh ahother wire from Globe which reads as follows:
HeVeiopmehts OF a most favorable character have
~ pace a' u' superior Il Boston the foot
level The whole saee of drift is in cuprite and ma
i've copper averaging than five per cent Picked
snpes assayed seventeen per cent The drift is run
'e para'iei VITA the walls but neither has been
struck This looks very favorable
The home office of the Company con6rms ho.,, -, a.,
communications, and an officer the Company advises
the property for six months. regards it as fore
runner of highly interesting DEVELOPMENTS NJ tho soo
level on the sixth level. commercial ore WAS fa,na
TO he about II feet wide. The vein at the eighth love,
~ d" ieet WIDE but as yet 1t is impossible to state how
wac the ore body at this point The whole face of
o UNI Is IN ore which averages better than 1--WE
- ' Ou' most favorable factor not generally con-
sidered is the high iron contents which add materially,
TO the value of the ore
- 10 not generally known but drifting east on the
OV eVei Is also under way. and within another thirty
Gays the management expects to cut the orc ,,oa,
This drift will cut what first considered the Iron
Ledge vein but later developments confirm the theory
that the vein is the Great Eastern with a very shap
turn in it,
ON the tenth level. the large station has bee, a,,
and the will have to a,e driven o,
ou' 20 Feet TO reach the vein. Drifting will he start
~ a. once west to Intercept the body It was at
ep'" ot soo Feet that Arizona Commercial in diamond
s encountered copper glance and Superior e.
obtained IKE results In drilling. that a change
rom oxides to sulphide expected in the ,ouost
workings Of the property.
If Developments at tho eiybth nm, ..,
" Np'auohs' ore shipments will probably DE resumed
'i'h'n another sixty ninety days on a much ,oo
Gale than ever before attempted bv tho f,o,,ra -,
VIII then be on a self sustaining basis once moro
The buying of the stock in the mas, c
zen OF very high class although no efor, MOI -,
o bid up the price ''o
lAY CENTRAL
Nouces OF the annual meeting of the shareholders
ray central to be held Jan. 18th have been issued
'.'ar ie'ter filed by j. Rice, Secretary of the
o'p"y' IL is announced that DR.. Walter Harvey Weed
'er' nave been engaged make a
-. '"'o" ana report on the property to-
.,..,. me" recommendations as to the further
eYeiopments to be undertaken This renor, u,
'aoy 10 be read at the annual meeting ana r,.
} be very interesting one