The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-02-25

shoe on the other 1t is reasonable view but 1t
is one all heard before and that will
need some demonstration to make effective
The hest opinion is that the general business
situation will dominate copper affairs while the other
hand the best copper opinion the surplus
Is within reasonable limits that II will be further
limited in the future that the metal situation
win get full benefit the change when the tide turns
j H. Cody OF Miller & Co.
LIVE OAK
Live oak directors have arranged to issue 1880
shares of $40 share. stockholders being Civ
the first opportunity TO take the issue rata
The new issue has been UNDERWATER by Hay
den Stone & Co. The sale OF this stock will provide
the company with s25OOOO in cash. the underwent
ing commissions. 1t is stated that the last estim-
of blocked the property showed 1890
600 tons averaging 225 cent copper. The dates Of
the issue hand, but books for subscrp-
ton will. probably close around the middle of March.
COPPER RANGE
Directors OF Copper Range met Thursday and
pouneed the regular quarterly dividend of 81 share
This will be payable April to stakeholder, record
Feb 20. No change in the expected. With
copper selling any price than twelve cents
per pound the present dividend rate will undoubtedly
be maintained by Copper Range
SOUTH LAKE
South Lake is sand piping with the idea of locating
the most satisfactory site 1t is quite
likely that the shaft viii be located very near No.
diamond drill hole
MONTANA CLINTON
1t is understood that efforts being made to
terest some prominent western mining in Mon
tana Clinton Two local directors Capt Wesley Clark
and Alex. Levin. have resigned officers and mem-
harc of tha boar
the funds expected in from the recently assess
ment of fifteen cents per snare the management hopes
TO be able to more vigorously develop its property
oscEoLA-
The annual report Of the Consolidated Cop
per company was issued this week The report indl-
Gates that the company during year 1910 produced
l614425S pounds of copper, which sold 1904
cents per pound. The total income for the year was
s257S65' while the total expenses equaled sS1S,27s
leaving net profit of s5S5s5. During the year div-
deids of So per share paid amounting to $7692O
making deficit of s1O.6L The surplus at the close
of the year amounted to $i.S4OeO5
comparison of the annual reports C.e last four
years shows gradual falling copper contents of
rock stamped For 1910, the average was 15s pounds
per ton of rock stamped. The average 1909 was ex
actly pound higher. The cost of production was
reduced slightly during the the per pound
being 49, cents
MASS
Diamond drilling operations started this week in
the northeast quarter of the Mass property
and this work will continue Indefinitely manage
men Is planning the exploration of two veins outcrop-
ping on surface prominently. amygdaloid and
the otner eonglomerate Unwatering of the shaft
under way. and development viii proceed soon on the
fourteenth level thirteenth level considerable
development work has been done, and fair amount
of promising ground has been opened up Mass is now
stamping rock which returns is pounds ngot per ton
and If this is maintained profit from mining
operations.
SUPERIOR G. GLOBE
Diamond drilling at Superior & Globe continues on
The 65O-oo level. pwo are now being bored One
has been driven horizontally $50 feet north From the
same level vertical hole has bored $50 feet deep