The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-02-18
MINES AND MINING, STOCKS

lay claim TO one of its mineral veins
The contents OF the answer are await
cd with much interest by the stock
holders OF the h. a b. company and
IL is expected that they will be furth-
successful issue of the litigation when
they learn the particulars of the de-
Tense. Reports have recently been
sent out from Butte apparently calcu-
lated TO injure the b. 4 II. 10 the effect
that the latter company has relin-
dispute. This report is wholly untrue.
and the b. & b. company has force
of men engaged in closing up the legal
development work on the vein i'm con-
tention, and is busy preparing its de-
Tense in every essential detail. The
pany in laying absolute claim to a vein
apeNing on neighboring property is
! illustrated by a report made by Pres
ident Thayer and the trustees at the
last annual meeting of the Anaconda
Copper company as follows: "As
depth has been gained in the mines of
your company. and. in fact in the 9TH
er mines of the Butte district. and val
liable ore bodies have been developed
at the greatest depth, the mine manag-
ers have been impressed more and more
with the almost utter hoplessness of
"a fgI t.,I.- oh las.
ownership of ore bodies at many
points where conflicts occur and. while
settling many controversies after a
great deal of elaboration, by estab-
fishing arbitrary lines, they have long
felt that n consolidation of interests !
would be the only solution" The Il. |
& b. company is making preparations
10 further develop a number OF rich |
orc bodies which il has disclosed, and /
which are not in litigation and begin |
shipping again 10 the smelter. The |
company was preparing to do this at /
the time the fire broke out in the An
aconda properties in January. The b.
q b. company allowed the Anaconda
people 10 enter and occupy their shaft
which they did for three weeks. The
water which entered the shaft will
have TO be pumped out and other dam
age incident to the occupancy by the
company will have to be
corrected before the b. & b. can get
going again as regular producer.
Tuolumne is earning from $4,000 to
D D
expects TO double that when it is able
TO increase the productions as plan
ned.
The foreign visible supply of copper
has decreased S6O,16O pounds in the
past two weeks. II is said that the
metal companies are now delivering
and exporting copper sold during jan
nary TO quite an extent. and that the
outlook or a decrease in the producers
figures of large dimensions is exceed
ngly good for the current month.
The completion Of the increase OF
stock in c. & A. has been successfully
accomplished. The new c. & A. will
nave $4,000 shares and when the ex-
.ilAli-t - AplipltAfu bll Ntlt ucSlS VI
)ne share Of the new stock for 9la of
5. & p. there will be outstanding 62S.-
81 shares, leaving 21,429 shares in the
reasury. The old G. & A. had 100000
shares and $4,000 in the treasury.
The summit will ship ABOUT cars
# high grade ore to the FL Paso
imelter monthly 1t runs from $1,000
10 $1,000 per car.
All sellers Of copper are holding
lrm at 12la cents for thirty days for
.lectrolytic and report the demand as
'ery quiet.
Nearly everyone has different idea
bout the metal situation but IL seems
sure thing that the production of the
METAL is and has been kept at the rec
'rd height and will increase If business ,
tarts up. This everyone is looking for ,
n the near future. The production ,
rom the new concentrators PROPOSE
ion, however is giving some uneasi- ,
Tess and that is keeping a good many
# the big metal selling concerns out ,
# the market. They remember their ,
experience when the Utah and Nevada
,orphyries were coming into produc-
ion and they fear repetition.
At the Calumet and Hecla meeting
It Bisbee, the proposed increased cap
talization was ratified.