The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-03-11
MINES AND MINING, STOCKS

earned a gross OF $4,000 In February.
II. V. Wichen has issued a favorable
report on Cortez He SAYS that while
the company is but a prospect the To-
cations have been selected with ex-
cellent Judgment and that the eX-
Iploratory work is so laid out as To be
conducted with the minimum OF ex-
pense for the maximum efficiency.
ID. e. Jacklin estimates Chinos re-
serves at 100000 tons, 20 per cent
OF which can be mined with steam
shovels. The frame work of the mill
is completed and the concrete floor is
being laid.
The Ray Cons. mill will be ready 10
start March Is II some small parts ar
rive from the east by that date. one
thousand tons of ore are being ship
ped to the mill at Hayden preparatory
to starting operations.
There We're only four Boston mining
stocks whose sales i'm February totalled
over 10000 shares. These were Anal
gamated with 1883. North Butte 22.-
1856, superior and Pittsburg 2O,S64,
and Lake 1877 hsares.
In copper circles il is stated that the
exports for March win show good
Improvement Actual orders so far i'm
hand point to a heavy increase in
shipments.
South Utah Mines and SHELTERS
treated 20.596 tons of ore, yielding 1861
tons Of concentrates from which was
recovered SlS41O pounds of copper, in
February. ia ounces of gold and 2O7
ounces Of silver.
All three OF the Old Dominion COM
panies are now free OF floating debt
and together they have a cash surplus
of from $500, 600 20 $1.OOO,0O0 and are
strengthening their reserves all the
time. OF course i'm the near future, all
this will appear in the reserves of the
ola Dominion company of Maine,
which is the holding company
Boston-A local copper man of long
standing says that in his experience
he remembers no similar period of APP |
athy. News whether good or bad is
passed by and has no effect upon the
market in any way.
Greene Cananea is generally credit |
ed with having gotten its new plant
into operation, but the stock is weak |
In sympathy with all Mexican prop !
critics The condition of Greene-Can- !
anea seems 10 be lettering rapidly, |
and DR.. Ricketts, seems to have got
ten the property where the hard work |
of the past three years is beginning to
show some real results
Utah Copper has been weak. 1t is
understood that the selling comes from |
a western source. 1t has been current |
gossip here that the values i'm the mill |
had not been holding up recently. !
There has always been somewhat Of
skeptical feeling towards the figures |
Of costs announced by concentration
properties and well informed people |
have been decidedly scary of them in
spite of their phenomenal showing. !
The query now is as 10 whether they |
can keep il up. OF course, the state
Of the metal market furnishes little in
centive for publishing production.
At the annual meeting of the Mass.
Cons. the directorate was increased |
from seven to nine members, and |
Franks l.. Mcguire and f. w. Walk |
or were added to the board. Supt. |
Walker states that Mass rock ran
eighteen pounds in January and |
twenty pounds i'm February. lie also |
expressed the opinion that with anoth-
err year Of development the mine
would be i'm a position TO increase its
output TO a point where it should show
profit from operations. He also ex-
pressed the opinion that the Evergreen
property contained the extension of
the Algomah lode.
New York-Sales Of copper this
week have been fairly large in the ag-
gregate. although at concessions from
official price of 121a cents a pound.
Transactions since Monday are esti-
mated between 10000, 900 and 100000
pounds. mostly on the basis Of II 3-S
cents a pound. one sale Of 100000
pounds was reported at 12h cents.