The Calumet news., 1911-01-14

a
eourasng nature and considerable has already
blocked ~
LIVE OAK s--~- -
The directors Of the Live Oak Development company
have submitted plan to stockholders for an Increase
In the capitalization from $4,000 shares OF
par value OF $1,000 each stock will be offered
10 shareholders whenever issued not the purpose
CT the management Immediately issue this stock
Live Oak has payment OF slO.sOO to make on its
property on before December 1911 during the
year following is obligated to pay $4,000 which viii
complete all payments its property
Development work has been pushed aggressvely and
the property is being explored 10y means of churn drills
well actual mining work. very successfully
Based record of all the drill work completed up
10 January lst OF the present year. the management
has prepared estimates that the proper
ty has already developed amounting to six million
tons. and partially developed totaing mil
on TONS all OF which average Pa per cent copper Con-
sidering that drilling begun in April. ls1O
ord is regarded most satisfactory Concerning
the plans in deail for the future. Hovland. vice
president of the company. has the following TO say:
The liberal response Of Live Oak property TO
drilling operations is reflected large tonnages
of ore developed This, with the remarkably low
Of drill eNplorations-less than per OF
ore deveoped-leads management TO plan the con-
tnuation Of drl during the coming year and un-
I'll the total of the Live Oak shall have been
fully determined
The substantial out In this report
necessate the preparation mine for production
at an early date, and underground should in
augurated the finances of the company per-
nit In contemplation Of this Mr. Mccarthy manager,
mas made plans and estimates for opening the mine,
and he is making trip through the various por-
phyry camps of Arizona, New Mexico and Utah, and
the various iron mines of the Lake Superior district
for the purpose of comparing mining methods and se
curing all latest practices in the different
IN connection with the mining of large tonnages and
for the purpose gathering concentrating
plants for the construction of mills for
To meet the needs of the development company, pend
ing reorganization into mining company at a latter
date, special stockholders meeting is called for
"a 1911, for the purpose acting upon the ques
tion OF increasing the authorized capital of this
from its capitalization of $4,000 shares OF
par value $1,000 each. to an authorized capital
100000 shares of a par value $1,000 each; the
directors of your company recommend the stock
holders that the capitalization be increased there
by permitting shares issued and offered pro
the stockholders from time to time funds
needed for the underground preparation and
the drill work above outlined Strong New York and
Boston brokers and bankers offered under
write such stock issues. and take and pay any
stock taken by stockholders The increase of capital
stock will place the company in position provide
additional funds when required, and advantage
of offers to underwrite issues of stock"
WINoNA KING PHILIP
Directors of the winona have voted sell stock
upon which the assessment not been paid ON
March Sth, next. unless these assessments
paid before that same time the directors
OF the King Philip called of s1OO share
payable February 10TH making total of $1,000 share
paid in on the stock King Philip requires additional
funds to continue development its property
also TO pay for its portion of the mill recently
constructed Jointly with winona. The first head of
this mill is about ready go into commission al
though the management will probably not begin milling
until next month. The condition the copper market
does not offer any for rushing fin
ishing touches on the plant
AHMEEK-
No shaft of the Ahmeek has entered the Kearsarge
lode the hanging wall side and where the vein has
been exposed. it shows good copper values No.
will shortly reach the VEIN There has but
little activity Ahmeek the announcement
of the consolidation plans Shareholders of this
well satisfied with the of the eonsolida-
ton. likely no difficulty experienced
i'm getting practically all of outstanding
changed for the issue of Calumet & Heca.
BUTTE ALEX SCOTT
Shipments Of from the Alex Scott the
P1ttsmont smelter have been resumed, and while a
month has not yet passed since this work begun,
IT is estimated that the company will
S2O,OOOOO month from these shipments This will
than pay for all the development costs at the
mine. The management is considering the advisatily
OF purchasing a concentrator handle low grade
The annual meeting of the stockholders will be
held in Pttsburg February 14th and quite Ike
l there viii important changes in the
directorate.
CALUMET & ARIZONA AND SUP. PITTS