The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-04-22

NO0oll $500
NEW YORK, APRIL 81.
brief period of enlarged activity developed this
week following the Missouri Pacific incident. which, at
this writing seems to have resolved itself into
new financial connection and the final selection of
president, who a competent operating head should
in conjunction with the chosen banking connections.
finally for the physical and financial regenera-
ton of this important and valuable property.
The Mexican situation has also been a Of
discussion marketwise. but despite the attempt Of
or two newspapers fomen radical discussion
be that the sentiment behind the large interests
owned in Mexico by corporations others should
operate against any precipate action by govern
which shows indication to do other than
apply common somewhat trying
dton Of affairs for both Countries.
In other respects there evidences of somewhat
activity finished steel pig iron continues
It's low price and copper is at II cents, with the
newer companies working hard their development
plans. hardly promising AMI final restriction in output
Of this product.
Railroad earnings now indicate in many Instances
small margins dividends but the Southern
roads doing very well, offset anyway Crop
conditions promise handsome results factor which
must not overlooked of Importance in this
country.
We continue unchanged in our ideas that. that with
the Supreme Court decisions out of the the fun
damenla conditions here afford basis for better
curty prices
NORTH BUTTE
Net profits for the year 1910 $1S6 share
against $3.50 share in 1909 These the results
as indicated by the annual report North Butte issued
this week. The profits for the year were S56OSSS
Its surplus account for the year was increased and
the close of 1910 amounted to s1,677,2O2 There was
an increase in the tonnage the total being
95S6SO tons, which will average 4.25% copper and
three ounces of silver. During the year. there
smelted 52S dry tons of ore production for the
year was % $4,000 pounds Of fine copper and 9SS9O
ounces of silver The sale of the silver produced by
North Butte during year amounted to approximately
the total earnings of the Company FOR that period.
i President James Hoatson calls attention in the an
report the fact that some of the litigation which
surrounded the Company during the year has been en-
ltircy settled, very satisfactorily to North Butte
The most important that with the Tuoumne, which
was adjusted in also calls attention to
the fact that Granite Mountain shaft had been up
raised from the 1900 level, will be carried down
zoo feet
/ General Manager Pope writes encouragingH In
the report. that the fact that North Butte
has maintained less than one million tons in
sight not significant during the present the
Company expects to develop additional at
least equal to it's output General Manager Pope in
part;
During the year 1900 feet of development
done.
The Spectator shaft was sunk S12 fees giving to-
tai depth OF 1850 feet. A vein was 249O feet,
which was ten which carried so copper
and silver per ton for a width of foot.
Since Jan sinking been continued and the shaft
is down 2775 feet At 2,74O feet another vein was
encountered which has shown width Of Is feet and
contains a good amount of hgh-grade bornite and cop
per glance The bunchy, but in place there
was width If five feet of which assayed 242%
copper silver per showing that the
values your ground do at the 1900 level.
but high grade exists at the lowest level
Preached to date
The Granite Mountain shaft has been connected from
the 500 level the 1880 level and enlars-
ing this shaft to three compartments from the surface
to the 1900 level
The only development work done on the Edith May
vein the sinking of a Wine liz feet below the
1900 level between faults disclosed that level,
and drifting on the $500 this wnze ana
west distance 21O feet, which brought prac-
cally to the faults both directions The
$500 level averaged eight feed wide, assaying 4.5%
copper silver per ton. rho here
livery regular, and contains amount OF first
class that prospects very encouraging for the
2iOO level.
2OO level since the first of the year, the Edith
May vein has been cut drfted on for a distance OF
100 feet and has just reached the first Of the faults
disclose! above This level has shown punches
of high grade and it is in the first of the
two faults shown the levels above. Il should
show the disclosed in the $500 drift"
ToNoPkH MINING COMPANY
The distribution of the report of the Tonopah
Mining Company this sharp selling OF