The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-03-11

IN both iron and steel with the independent companies
apparently doing relatively better than the United
States steel corporation shown by the Lackawanna
Steel companys annual report and the activities
OF the Republic company
In other directions the statements of the lead
ng industrial companies give evidence OF past unfav-
orabe conditions varying lines of trade How far
behind all these conditions are is of course the
mooted question
Perhaps the crop situation Will tend to brighten the
atmosphere. largely increased in wheat and
in cotton with excellent growing prospects at this writ
ing. not be overlooked.
Marketwise. II may well be said "demortus nil nsi
bonum" but when renewed activities do appear,
feel they will be elevatng plane of prioes.-Ml-
Ter & Co.
BOSTON. MARCH TO-
The February statement of the Producers while
showing increase considered favorable from the
standpoint of low production. orders have gone out
from copper properties headquarters in this city
during the keep production at the lowest
sible point orders of like have already been
made enectce in the Amagamated properties at Butte.
as well as the producer. ~ is win have
good especially European orders in considerable
volume again coming into the market.
the big copper here 1T is my opinion
that ore in the ground is worth asset to
when produced has to be disadvantageousl For
that l milling only low grade ore and not
the high grade which explorations dis
closing.
I 81 intend continue that policy until we get a
change conditions which believe is already
under way will better things from this period
nenceforrh. during the current year"
With the Calumet deal out of the II is believed
here that the big would likewise contract its
volume of production and by milling lesser volume
of high grade Ores would net much IL not more
profit than ii is enjoying In fact this view was
distinctly the meeting yesterday when in
versaton lamented that the present legal stua
ton would this desirable state of affairs. The
thing that will help the copper situation most will
be the rapid concentration a contract that is
sured the single hands that will be able to control
the copper production for the general good of the
tire industry this applies to properties other than
Calumet. H. Cody of Miller Co.
lie. & A. AND s. e. p
l Directors of Calumet & Arizona and Superior &c
!Pittsburg Chicago, Monday, when the regular
quarterly dividend Calumet & Arizona stock
nounced The dividend of 81 will be paid March 9th
to stockholders of record March 18TH At the
time, the directors dividend of eighty six
cents Superior Pittsburg stock. This div-
dend will paid April 18th to stockholders of record
March 18TH The books will reopen April 1st The
nouncement of dividend Superior & Pittsburg in
dicates that there has been fifty per cent
of the deposited exchange for Calumet Ariz-
ona shares 1t also indicates the final
solidation plans which under discussion and
consideration for a year The SUI
peror Pttsburg will be paid to all sharehold-
ers. whether they deposited stock or not
There seems to be misunderstanding on this score
some shareholders being impression that on
lly those who had deposited their would receive
this dividend However this is the case.
CALUMET & HEcLA-
AS far the expression OF opinion of the majority
of shareholders is concerned the Calumet Heca mer-
ger has been huge Those who opposed the
consolidation little consolation In the so-caled
silent and laid claim practically all of this stock
which voted However such claims are entire
lily without foundation. and it would be just as fair for
the Calumet Hecla directors to claim the stock as
favorinG the It would be to claim It was
against the consolidation.
\ The in only instance could he considered NJ
all close and that in the case OF osceola where
the strongest fight had been made The osceoa vote
was in favor Of the consolidation by good margin o.
72e shares voting against the proposition while 1854
shares favored the deal voting this week was ~
4 an informal character The restraining order made
any positive action impossible The application for .
permanent Injunction win be heard March 2sth In or
der to allow sufficient time for possible appeals the
special meetings Of the various subsidiary companies OF
Calumet & Hecla has been set for the last week IN
April The first meeting VIII be held April oath uhor
the formal vote viii be taken by shareholders
Again this VIII be the most important meeting Int
there is no doubt at all to the ultimate result
The legal side OF the consolidation has been thoroueb
ly passed on by the Calumet Hecla attorneys, and