The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-10-07
CURRENT , x, 1919 COPPERSI
~ GOSSIP O ~. .i. 1t Wv A. f M5MSEAR
AHMEEK-

meeting Ahmeek directors held yesterday 1t was
decided pay dividend Of 81 share the oustand-
ing $4,000 shares. The dividend will be paid Nov 20
shareholders OF will be the first dsburse
made Ahmeek shareholders. No announcement
made question whether the dividend could be
considered quarterly semi-annua In view Of the
that the companys earnings said be close to
$2 share annum It quite reasonable TO presume
that will quarterly
tinued the just mentioned.
1t might interesting note that w. D. Chad
bourne Ahmeek director. is quoted saying he
peced further decline IN the price Of but not
great and that with Improvement in general business
better copper prices would follow
TUoL UMNE-
a meeting Tuolumne held this week.
the dividend for the coming passed. 1t mas
been reported for several weeks that action be-
ing considered by the directors shareholders generally
thoroughly with the situation and did
not look for such action.
time of the companys last annual report in June
the treasury held balance of 100000 cash Produc
tion that time continued unnterruptedly and
estimated to have netted pront or approximate
100000 dividend in August called for the dsburse
ments Of 100000, The company contracted for new
surface equipment. installed will represent
outlay probably 100000 Heavy expenditures al
underground development, particularly in
proving the apex of a promising vein opened up.
According semi-ofcal information, stated that
tho Company will nave paid for its equipment
heavy underground there will be balance
Of about 100000 in cash in its treasury This
quite likely dividend three months hence will also
be passed unless the metal shows decided i'm
provement.
Unfortunately Tuolumne has subjected to consid
cradle manipulation grossly exaggerated
well costs, that while the property is undoub
ody very one it's possibilities have been
siderably magnihed.
NORTH BUTTE
1t was reported Monday that North Butte had a
body wide and running 1870 copper the
level. The report lacked official confirmation,
and was probably somewhat exaggerated. From private
that discovered the $500 level
but it's size yet remains to be demonstrated.
In the event that North Butte body Of ore
of any great magnitude at this level will
juvenaon of the property and will add twofold to the
the The theory of secondary enrichment
the camp will corroberated by opening up
any large body lowest workings.
The company has considerable from the 22d
level and with favorable developments this
week. a mine lies ahead OF North Butte. Undoubt-
edy the body of the $500 level will show high val
ues. will make possible North ship
better grade much greater profit than
attends operations
There question concerning North Buttes
ability maintain present dividends. but
copper selling price better than 12c there is
question but that the rate that is being paid will be
maintained indefinitely.
North Butte produced in September 1754OOO pounds
copper maintaining output rihe better than
2oOOOOOO per annum
NEW ARcADlAN-
New Arcadian continues to diamond drill in horizon
OF the New No. hole has just been
No II hole is in 500 feet deep and has add
ed considerably to the minerazed Arcadan
property.
The drill this point indicated number OF amygda
loid trap veins. although copper values were
shown The company has funds enough to maintain
ploratory the present rate for another year.
CALUMET & HEcLA-
The plan for consolidation of the Calumet Hecla with
it's subsidiaries has been abandoned. The official an
nouncement Immediately after the close OF the
et yesterday although generally known that such
action contemplated earlier In the day. In view of
legal the directors determined that the
ger would be the present until
questions decided definitely the In
announcing the decision abandon the It in
tlmated time the might be again
decided directors still convinced that from
economic standpoint the plan most desirable.
Naturally enough the mere rumor abandonment OF
the merger plans signal considerable buying Of
the Calumet & Hoca subsidiaries. The various
had to degree adjusted themselves far price
concerned the consolidation. They thus robbed
Of speculative value long there likelihood
Of the merger being consummated.
company must stand It's merits and
will directly influenced from market standpoint, at
least by mine developments Such being the the
speculative value Of included in the merger
plans greatly enhanced For Ailouez had a
fixed value consolidation with relation to Calumet
Heca yet independently enjoys speculative