The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-03-25

Npissng shares
The last figures cbtainabe the companys fran
caI condition were Feb 18TH and indicated that the
company then surplus of si,l25,OOO in cash and
ore in the the shelters and the mine ready
for shipment This large surplus is being increased
every month"; and after the dividend just declared
will have been paid the company will have in its treas
ury over ore million dollars. There is some talk OF
an interim dividend being announced within another
month or weeks, of possibly 25c share This VIII
call for a disbursement 100000. Developments at
the property are said very favorable, and each
month finds a greater of ore blocked out than
before.
ALLouEz-
The annual report of the Anouez Mining Company
was issued this week ana indicates that during the
year 1870 the company produced 4655,7O2 pounds or
copper slight increase the year before. The
Company showed a mining profit of SSS'5lS' from
which interest charges deducted leaving net
profit fer year of s71Os6. The balance of liabilities
ON December amounted to S7l,S2l Alouez Is not
discarding rock The percentage Of this discard
for the year 1910 1888 per cent The refined copper
per ton of rock stamped for the year was 1884
pounds against 1898 1909. The total cost OF pro-
duotion 1857 cents per pound against 1888 cents
in 1909. There practically no construction at the
Aouez mine during year 1910 In the annual report
President Shaw In part says as ioho"s'
owing to the excessive the curve of No
shaft i. was necessary to curta hosting for about
three months in order to repairs. In both COM
partments sO-pound rails laid from the surface
to a point 100 below the curve and the umoerihs
strengthened and renewed where necessary
The openings at No. l shaft have been promising
osnoc,a,lv 10 the north The openings at No. shaft
have proven some good ground. and the po'toh VI
lift he looked
rbraa compound heads at the Lake Milling Smelling
G. Refining Co plant have been completed and went
into commission on the following dates, respectively
Ian 16 May II and Nov. o. 1910 The extraction mace
NV these heads is very satisfactory the saving IN cop
per being materially greater than from the old heads
The balance sheet shows notes and accounts payable
of $41s5s2. against which the company hao copper
cash and sunnlies on hand of $347271. leaving bal
ance of liabilities of $71.S2l of December 81 1910
ISLE RoYALE-
1t was reported this week that there was possiohy
of certain large interest in Isle Royaie endeaVorhs
% obtain control of this Company the Calumet
& Heca and withdrawing it from the management Oh
the latter with this report the statement that
lin the event success attended these efforts W. j.
1rcn who recently resigned from the SUPPLEMENTARY
Of the Osceoa Tamarack Isle Royale would be APP
nonted General Manager isle Royale However, this
report lacks confirmation.
The annual meeting will be held April 5th when
something definite along the lines above indicated may
develop The annual report of Isle Royae was issued
this week. and shows production Tor the year isV'
Of 75s7ses pounds copper. The company recovered
14h pounds of copper per ton of rock stamped The
total cost of production was lisa cents pound
against 1854 cents 1909 Construction costs in 1910
were very light During the year. 145ss feet OF I'M
!. foreground work done at the property Presi-
dent Agassz the annual statement in part has the
: following to say:
I'm No shaft the openings slopes and shafts have
as n whole shown ground slightly below the average
d in value The slopes and opening in No shaft have
Il been about There has been the new con-
II construction at either shaft during the year.
v The openings and slopes Nos. and have been
> of quality.
The sinking the "A" shaft lin search OF the Bal
tic lode) was discontinued March 31st The third Level
l. south was 6s feet to the boundary line dis
lance of 7ss feet shaft The ground through
which this drift passed unsettled and broken.
m small deposit of copper found about 80 feet from
= the boundary At this point diamond drill was SCI
he M and hole drilled downwards on the assumed dill
Of the vein, 424 feet little copper showed in thu
core at depth of SO and ~ feet; below this the dri
III passed through unsettled ground
A crcsscut was driven easterly from the third leve
to the boundary, distance OF l4S rect out holnIs
value found.
G crosscut was driven westerly from the third leve
RS Ia distance of SOP feet, which point diamond dri
I'd was placed and drilled horizontally to SO feet
rn rhe crosscu showed nothing of value, but the drill
q, holes passed through smygdalod ~ feet wide TIL
st core showed a little copper the hanging wall sid
VII Of the lode
as The Isle Royale balance sheet shows total assets
s5s51 of which s45S92s represents cash. accounts re
"A ceivable ard copper Accounts payable amount
IT. leaving balance of liabilities Dec 81 1870
st ls1S7S1"
y CAL, & ARIZ. AND SUP. & PITTS
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