The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-07-03
A. MINNEAR
& COMP AN

Directors meeting sed in Chicago yesterday June 26h.
voted to issue and sell at $50 share 1880
OF the authorized capital OF this Company and
this the stockholders of record
business July s, 1911. Under this offer a
stakeholder will have the right to purchase $40 per
share of the stock offered. for every
shares of standing his the books
Company July s. 1911.
Payments required are IS share before July
90 1911. and the balance. SIS per share before
August 10, 1911.
$3.50 shares sold 1890 shares are
underwrtten by Hayden Stone Co. 500 per share,
insurng payment into the Live of funds
meet Anal payments property when due Hayden
stone Co. underworld the last of 1880
the stockholders circular March
s. 1911 and promptly paid 800 per share
the balance of stock not taken by stockholders
that the dealings bankers have
very satisfactory.
The plan of financing herein above outlined permitting
the Company to make final payments property
end take UP the deeds held n escrow by a bank
and the high values represented tonnage
yeoped date with constantly increasing tonnage
drilling operations proceed, lead recommend to
the stockholders that they take their sotments
tc be offered by the company"
ELENITA DEVELOPMENT COMPANY
President Powell Elenita Development Company
has issued circular letter stockholders which reads
al follows:
During the latter part year 1870 conditions
resulting Revolution which already begun
in Mexico made it impossible for work at
San Felipe property anything like economical
basis In view of this, 1t decided down
all work, which done about January l. 1911 The
openings all put good shape machinery and tools
stored and Waterman placed charge
Realizing fully serious situation parties from
whom have bonded several of the claims Included in
San Felipe group have granted extension on our
bonds giving until November 3D. next. any pay
will required
Quite considerable tonnage carrying copper
lead silver has developed Satisfactory
and economical having perfected for the
separation of the values this ORE property
could be placed a producing basis in a very few
months, but it would be unwse undertake producing
until better transportation facilities are provided Dur
the early of this year until the nsurreetion
grew so severe that IT impossible proceed with
the work. on English Company has been constructing
railroad from point the Sonora r.. II Hermo-
slo to Ures II is reported from apparently reliable
sources that that has this work
VIII be resumed and also reason to believe thar
the road will be constructed up River to
point San Felipe. With transportation facilities
assured the future OF the property very encouraging
Nothing In the way of development is being done at
present on the large block of land by the Com
pany in the cansnea camp but the development,
" pens uohe on contiguous ground give encourage
ing prospects for the future holdings there
ToNoPAH MINING
Tonopah stock sold ex-dividend of forty cents tbi.
week The monthly for May shows net proets Of
*142fo or at the rate OF s2o5 per annum The
ore treated during the month s217s per ton
The Company Is doing considerable new work at the
Mzpah and Silver Top shafts Prospects for the MINT,
OF June are very favorable for during first period the
ore crushed returned average of s22 a ton s,iv,r
higher than May
No announcement has yet been made or the acou,s,
'" vi any territory by Tonopah. Something definite
s 's hne can be expected in the comparatively near
~ eh' developments on the Jim Butler prop
ery are of considerable importance to Tonopan Aro,ra
present prices Tonopsh to be very attractive
investment
GREENE CANANEA-
The suit which was instituted against the Green Cow
h 'he consolidation OF Greene Cananea
was anected has been dismissed A demand for an ar
counting wac made by certain minority interests which
'"e une We're said to represent approximately 70 600
shares of the stock. The case dra,esa nm Co., -,
years, and with the announcement n, the as,.,.., -
esa obstacles have been removed However, the oco.r.
" ~ companies mentioned in the suit never entsra,rao
y great doubt but they would succeed IN cesr,ps -,
" W obstacles which had been placed in the path of CON
solidaton. ~ ' VI 'o">
i"ere are now outstanding about $4,000 shares =,
~ anu ABOUT LOO shares of Cananes These csrti-
'cates are gradually being forwarded for .xcna,a
he original basis ~
CALUMET MONTANA
Inc announcement that Calumet & Montana companv
80 aue 'he defendant in personal injury suit
" eiVV'oVo caused some selling of the stock. The in
uy TO an employees of the company in the old mine IN
county which resulted in complete helpless