The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-03-14


monthly dividend OF so cents. payabl,
March s5th. The books close March
20
The II. 4 h. has filed it's suit against
Anaconda. Il makes the sensational
claim that the Anaconda's titles to the
Right Bower and Chief claims are de-
fective. that all the veins ~ them are
covered by the II. & r. patent OF 1897,
that the ores extracted from these
claims are the property Of b. 4 h. and
that the ores extracted from the body
i'm dispute were not in excess OF $780,
goo. Harvey Walters Week. also sub
mits a technical statement OF Geologic
cal conditions. alleging that r. 4 h.
is well within its rights. ON this
showing Il. 4 b. seems TO have a much
better chance to maintain itself than
IL has generally been given credit for
The big copper exports are causing
considerable favorable comment. They
are again touching record high figures
and another bumper month is predict
ed.
Boston-The c. 4 II. dividend was
declared at the usual time pending the
consolidation proceedings and the
hearing on the order TO show cause In
the Hyams suit. 1t is a part of the
proposed consolidation agreement.
however. that when finally put into
effect it shall take effect as between
the consolidating companies and their
stockholders as of March Is and that
If any OF the companies pay any divi-
dends pending the final action there
shall be paid 10 stockholders of each
of the companies at the time of the
delivery TO them of their certificates
of stock in the consolidated corpora
ton such money as will equalize the
dividend payments TO all.
AT the Atlantic meeting it transpired
that there was standing bid of s6.25
for control and that no assessment call
will be made for at least two months. |
The only business producing revenue |
at present is the stamping OF Super |
Tor rock and beginning January l. a I
reduction in costs had to be made to
hold the business The contract stands
until May l.
The Miami mill is now announced to
be ready for the beginning of opera
tions on Monday next. A wire from
j. Parke Claiming says a drill from
the bottom of the shaft has gone
through seventy feet of good ore. The
question that now confronts the Miami
people is how great an extraction can
be made from the so-called Miami
schist. Upon this depends not only the
Miami future but that of a number of
properties as well.
The Utah Copper company expects
10 effect "A saving Of from ten to twelve
'ents a ton when 1t has it's own rail-
'oad in operation from the mines to
he mills. In regard to the transfer of
he Toole Smelter i'm exchange for Ne
ada Consolidated an interest well in
ormed says that there is no immediate
iklihood OF such a change being made.
I is generally admitted, however. that
he smelling conditions under which
he Utah Copper company's concen-
rates are smelted could be bettered,
nd that the Toole plant has shown a
higher erode of efficiency. 1t is
pointed out that this is another benefit .
hat could come from large copper |
Consolidation such as has been mooted I
or the past five years. The disap- I
earance of the American Metal Sell {
ng company into Amalgamated is also
mother step in the direction of con- I
entration so much to be desired. 4