The Calumet news. [volume] (Calumet, Mich.) 1907-1938, 1911-01-11
Minnear & Co.'s Gossip

d Algomah is said to be looking excep.
n tionally well.
d Osceola rock is estimated to hav,
J., yielded abou 165a pounds of copper
0 last year produced at about 9iA per
, pound.
I Estimates Of Chino ore bodies here
I after will be expanded TO include all
ores Heretofore ore assaying under
1ls per cent copper has beeen disre-
garded
The tenth level Of the Alpha shaft
has been connected with the big five
compartment shaft at Giroux and ore
should be coming from the new work
ings by the latter part of the month.
The ore will be shipped to the Toole
shelters.
on January cath the question Of in
creasing the capitalization Of the Live
I I'm w NAR HAAANiiN NNllldiN AIOlil uNsNNN
to 100000 shares will be submitted TO
shareholders. The company has is
sued a statement showing that it has
spent so far at the mine S161, 995. It
has $S9,219 on hand in cash and several
disbursements on account of the pur-
chase price OF the company are coming
due.
Recent buying of c. & A. has been of
a character that has attracted some |
attention. Usually there is a very |
narrow market in the stock but re- |
Gently while there has been not at
tempt 70 mark the shares up, there has
been very broad market for all who |
desired TO sell. 1t is said that these
purchases are for insiders who are
buying stock to even up holdings
against the consolidation The recent
trip Of John d. Ryan to the west is
said to have been in connection with
this consolidation.
There has been quite a little buying
OF Utah Cons. recently on the strength
of some private examinations into the
property which have found a state Of
affairs much better than the engin-
eering reports have shown. It is point
ed out that Utah Cons. never had
much of an ore reserve owing to the
heavy character of the ground. but ,
that ii has always responded TO de-
XHIOnmHnt MrnFLF 10 /
with the additional work the property ;
viii make a much better showing in /
the coming six months than it did last. q
General aMager n. i. Hugo wires ,
the home office of Butte Alex Scott as
follows: "Ore shipments netted seven !
thousand dollars for last twelve DAYS I
IN December, and five thousand dol s
iars for six days in January. Property {
looking better than ever. This Is ,
$4,000 net received from 5
ore shipments for the month. while the ?
mining expenses are under 10000 q
hence at the present rate of production. !
Butte Alex Scott is earning money. {
The annual meeting will be held some I
time in February, at which time some I
possible change in the directorate NAV r
be made. ,
r J. Witty, superintendent Of the {
Calumet Il Montana, mine is in Du- n
.uth on his way back to the property q
from the east He says: 1.-THE Calumet 7
4 Montana property is in first class s
shape. II is going to be one Of the q
successful producing mines OF the Il
country. We are driving cross-cut A
which has cut one vein and which viii @
cut three other veins within the next I
Tour months. Number one vein was O
very satisfactory in respect To the min "
eral showing. The surface showing q
on vein No. four is uncommonlv good u
ana we expect to open up a fine body 0
on ore in it in the cross-cut at depth. 4
These four veins give promise OF maxi I
ing Calumet & Montana a great mine q
ma I am convinced that the expecta- .
tons viii he fulfilled
summary Of the Producers fig q
1res, showing S,S5s.OOO decrease in {
Americas surplus, brings the surplus Q
Town to 12O.OOO.OOO pounds. the lowest
since February. 1909. The decrease Il
vas 100000 pounds larger than last !,
month. Domestic deliveries. S4.59s 900 b
pounds, a record for low deliveries ana n
bout 25,SOO,00O pounds less than last n
month, when they were 87,42fOOO. The n
Export deliveries were Ss1O1OoO r.
pounds which are the largest since r
he Producers began TO publish the r.
lgures. Last January they were ST. =
9l,OOO pounds. For December there n
vas further decrease In the foreign ii
isibie supply Of 5,4O2,93O pounds. The p
'orlds copper surplus today stands y